The self-service kiosk market has a CAGR of 6.78% during the forecast period to reach US$61.594 billion by 2027, from US$38.903 billion in 2020.
A self-service kiosk is an interactive terminal that automates, eliminates, or streamlines wait times and costs by allowing consumers to do tasks at their convenience. This might include everything from placing food orders to booking train or bus tickets to making deposits and withdrawals from bank accounts. The self-service kiosk industry has been emerging as a popular option for companies for decreasing wait times and ensuring customer satisfaction.
The global self-service kiosk market is expected to grow substantially, mainly due to the increasing relevance among companies with an ever-growing consumer network. Industries such as airports, fast food joints, and healthcare sectors have started using self-service kiosks to help in making tasks easier and more efficient. The emerging fast-food sector and the increasing healthcare costs among countries are expected to drive up the demand for the self-service kiosk industry. The Asia Pacific region has been reported to have the largest market share, owing to its rapid developments in the electronics sector.
Self-service kiosks have been an increasing part of restaurants. Restaurants find it easier to receive orders and feedback from kiosks, instead of employing people. Kiosks have also made it convenient for customers to place food orders, without having to stand in tiring queues, and also by streamlining payment options. Fast-food companies such as Subway, McDonald’s, and Burger King have been using kiosks for a couple of years, and have received a lot of positive feedback from customers. Customers also reportedly spend more when ordering from a kiosk interface, as compared to a physical order. Customers have also been reported to create more customized orders when ordering from a kiosk, mostly due because consumers' fear of being misunderstood when ordering in person.
McDonald’s released their 2022 Q1 and reported revenue of US$5.67 billion, an 11.8% increase in global sales, as compared to last year; and a 3.5% increase in the U.S. sales from the previous year. Burger King also reported an increase of 15.2% in the first quarter of 2022, reaching revenue of US$ 1.45 billion. With the ever-growing fast food industry, the self-service kiosk market is expected to rise.
Even though self-service kiosks have been known to be convenient and efficient, the upfront costs of a kiosk are extremely high. Most interactive kiosks would cost about US$ 3500 on average, also considering that software, management, and technical support would cost extra. Most healthcare kiosks would easily cost about US$10000-US$15000. Hence, installing kiosk systems might only be beneficial for organizations that operate on a very large scale, since smaller organizations might find it difficult to earn a return on such an investment. Moreover, with the increasing number of thefts reported for self-service kiosks, the kiosk systems become a risky investment for businesses. Such kiosk systems require careful administration and repair costs for these systems are also considerably high.
The COVID-19 pandemic had a positive impact on the self-service kiosk market. Even though the initial market impact was slow, the market was quick to rebound. With the increasing infection cases and panic among people, the demand for minimal contact services grew significantly. As businesses started to reopen, they had to adapt to better alternatives for consumers. Hence, the self-service kiosk market grew rapidly in sectors like the airport industry, restaurants, hospitals, consumer services, supermarkets, etc.
The self-service kiosk market has seen a major demand in recent times. Airports, restaurants, convenience stores, etc have been a major driver for the industry since self-service kiosks eliminate the requirement for manpower deployment and supervision by more than 50%. With the adoption of minimal contact services in industries, the self-service kiosk market has grown. Consumers have been careful about their contact with people, ever since the outbreak of the COVID-19 pandemic.
Cake Box recently announced that it is going to set up self-service kiosks across 10 new Asda supermarket locations. Cake Box also announced that it recorded an increase of almost 50% in revenue after the pandemic.
Babylon Health recently acquired Higi Health, a health kiosk firm, in its latest endeavour to assist a fundamental shift in healthcare services. Higi's remote monitoring capabilities, which range from grocery store health kiosks to at-home linked devices, will be added to Babylon's platform, allowing the firm to reach considerably more clients and collect far more essential health data than before. Developments like these help in expanding the reach of the self-service kiosk market and consequently drive up the market.
|Market size value in 2020||US$38.903 billion|
|Market size value in 2027||US$61.594 billion|
|Growth Rate||CAGR of 6.78% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Component, End-User Industry, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||Verifone Holdings Inc., Diebold Nixdorf Incorporated, NCR Corporation, Evoke Creative Limited, Olea Kiosks Inc., DynaTouch, Embross, Kiosk Information Systems, Meridian Kiosks, Redyref Interactive Kiosks|
|Customization scope||Free report customization with purchase|
Key Market Segments
Frequently Asked Questions (FAQs)
Q1. What is the size of the global self-service kiosk market?
A1. Self-Service Kiosk Market was valued at US$38.903 billion in 2020.
Q2. What will be the global self-service kiosk market size by 2027?
A2. The self-service kiosk market is projected to reach a market size of US$61.594 billion by 2027.
Q3. What are the growth prospects for the global self-service kiosk market?
A3. The global self-service kiosk market is projected to grow at a CAGR of 6.78% over the forecast period.
Q4. Which region holds the maximum market share in the self-service kiosk market?
A4. The Asia Pacific region has been reported to have the largest share in the self-service kiosk market, owing to its rapid developments in the electronics sector.
Q5. What factors are anticipated to drive the self-service kiosk market growth?
A5. The global self-service kiosk market is expected to grow substantially, mainly due to the increasing relevance among companies with an ever-growing consumer network.
Verifone Holdings Inc.
Diebold Nixdorf Incorporated
Evoke Creative Limited
Olea Kiosks Inc.
Redyref Interactive Kiosks
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