Of late, a significant rise in the demand for kiosk has been witnessed across the world, thanks to the growing trend of self-service solutions among consumers. According to a report by Transparency Market Research (TMR), the global market for kiosks, driven by the introduction of highly sophisticated technologies, is likely to increase from US$12.2 bn in 2015 to US$30.8 bn by 2024 at a CAGR of 10.90% during the period from 2016 to 2024.
Browse the full Global Kiosk Market Report:http://www.mrrse.com/kiosk-market
While the future of this market looks bright, the increasing count of mobile apps, which offer nearly same services as a kiosk, may limit the market’s growth to some extent in the coming years.
Technological Advancements to Strengthen North America Market for Kiosks
With a share of around 42%, North America emerged as the key contributor to the global kiosk market in 2015. On account of technological advancements, the regional market is expected to remain dominant over the next few years. However, the progression will be at a moderate pace due to the maturation of the market for kiosks in North America.
On the flip side, the Middle East and Africa and Latin America are anticipated to present the most promising growth opportunities to market players in the years to come. The upswing in the BFSI and the aviation industries is expected to result in an extensive need for a varied range of kiosks in these regions in the next few years. The market for kiosks in the Middle East and Africa is likely to expand at an exponential CAGR of 17.30% between 2016 and 2024.
Demand for Vending Kiosks to Remain Strong, Globally
Predominantly, vending kiosks, ATMs, self-service kiosks, charging kiosks, locker kiosks, and web payphone and gaming kiosks make the global market for kiosks. Hitherto, vending kiosks have been reporting the most prominent demand across the world. In 2015, the segment held a share of more than 45% in the overall market. The expanding range of products that can be sold through vending machines have been driving the growth of this segment and is projected to continue to propel it over the forthcoming years.
On the other hand, the demand for charging kiosks is expected to report a robust increase in the near future at a CAGR of 13.50% between 2016 and 2024 due to the expanding consumer base of mobile computing devices and electrical vehicles across the world.
Browse the full Press Release of Global Kiosk Market at :http://www.mrrse.com/global-kiosk-market
Increasing Number of New Entrants to Intensify Competition within Global Kiosk Market
With the increasing number of companies looking to venture, the competition in the global kiosk market is intensifying substantially. At the forefront of this market are Phoenix Kiosks, Kontron AG, Meridian Kiosks, Slabb Kiosks, Olea Kiosks, Fujitsu Ltd., Diebold Inc., KIOSK Information Systems, Wincor Nixdorf International GmbH, and NCR Corp.
These companies have been concentrating on product innovation in a bid to gain an edge over their competitors. However, in the coming years, they would need to shift their focus on mergers, acquisitions, and collaborations to normalize the competition within the market.