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Self-Service Kiosks for the Banking & Financial Services Industry to Comprise 30% of Deployment: Fact.MR Study

• Non-cash payment kiosks to gain traction, surging at a CAGR of 12% until 2032

UNITED STATES, July 8, 2022 /EINPresswire.com/ — Fact.MR forecasts the demand for self-service kiosks to expand at a CAGR of 11% in terms of value during the period of assessment. The report estimates that the market for the self-service kiosk is likely to surpass US$ 79.5 Bn by the end of the 2022-2032 forecast period.

From 2017 to 2021, demand for self-service kiosks expanded at a CAGR of 7%. With the onset of COVID-19, there was increased reliance on cashless and no-contact payments and purchases. This led to a significant broadening of prospects for the market since 2020. Due to the fear of contracting the virus, customers are looking for alternatives such as voice-based self-service kiosks that have the same features and can help reduce the spread of the virus significantly.

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Key Market Segments in Self-Service Kiosk Industry Research
Product
• Food Self-service Kiosks
• Beverage Self-service Kiosks
• Retail Self-service Kiosks
• Parking Self-service Kiosks
• Electric Vehicle Charging Self-service Kiosks
• Patient Interactive Self-service Kiosks
• Information Self-service Kiosks
• Employment Self-service Kiosks
• Check-in Self-service Kiosks
• Automated Teller Machines

Payment Method
• Cash Payment Self-service Kiosks
• Non-cash Payment Self-service Kiosks

End User
• Self-service Kiosks for Banking & Financial Services
• Self-service Kiosks for Healthcare
• Self-service Kiosks for Retail
• Self-service Kiosks for Hospitality
• Self-service Kiosks for Transportation

How Has COVID-19 Impacted Manufacturers of Self-Service Kiosks?

The COVID-19 pandemic, in a way, has impacted the market as well as been seen as a driver for self-service kiosk manufacturers. Trade restrictions, supply-chain disruptions, and lockdowns were factors that dented self-service kiosk sales in 2020.

However, more people are embracing the use of self-service kiosks that can minimize human-to-human contact and help in reducing the spread of the virus. Moreover, new trends such as voice-based self-service kiosks are picking up pace in the market, as they offer much more safety to consumers.

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Key Takeaways from the Market Study
• Global self-service kiosk market to be valued at US$ 28 Bn in 2022
• By product, retail self-service kiosks to account for 55% revenue through 2032
• Non-cash payment kiosks to gain traction, surging at a CAGR of 12% until 2032
• Self-service kiosks for the banking & financial services industry to comprise 30% of deployment
• U.S to remain the largest market, capturing a market share worth 40% from 2022-2032
• China to be the dominant market in Asia, garnering 3/10th of overall market revenue

Competitive Landscape
The competitive landscape of the self-service kiosk market is shaped by product innovation and strategic mergers & acquisitions. Advanced Kiosks, Emboss, IER, Kiosk Information Systems, Meridian Kiosks, NCR Corporation, REDYREF, Aila Technologies, Inc., ZEBRA Technologies Corporation, and Source Technologies are some prominent manufacturers of self-service kiosks.

• In August 2021, NCR Corporation announced that $2.7-billion asset TruMark Financial Credit Union has selected NCR to provide a more seamless, consistent digital banking experience to its retail and business members. With NCR Digital Banking, TruMark Financial will be able to offer an intuitive experience for consumers and businesses alike.

• In October 2021, Zebra Technologies Corporation announced the acquisition of antuit.ai, a provider of artificial intelligence (AI)-powered Software-as-a-Service (SaaS) solutions specific to forecasting and merchandising for the retail and CPG industries.

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What is the Projected Growth for the U.S. Self-Service Kiosk Industry?

The U.S self-service kiosk market is the fastest-growing market in terms of value and volume. Due to enhanced customer experience, people are increasingly opting to shop from self-ordering kiosks. A market share of 40% is expected for the U.S landscape.

Quick shopping experiences and high disposable income are driving demand for interactive self-ordering kiosks in the U.S. In June 2020, Samsung Electronics America announced new display solutions. Additionally, Palmer Digital Group, a division of the Industrial Enclosure Corporation, introduced a temperature screening self-service kiosk to track temperatures before entering any area.

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Self-Service Kiosks for the Banking & Financial Services Industry to Comprise 30% of Deployment: Fact.MR Study 1