A recent report published by
Infinium Global Research on multi-function kiosk market provides in-depth
analysis of segments and sub-segments in the global as well as regional
multi-function kiosk market. The study also highlights the impact of drivers,
restraints, and macro indicators on the global and regional multi-function
kiosk market over the short term as well as long term. The report is a
comprehensive presentation of trends, forecast, and dollar values of global multi-function
kiosk market. According to the report, the global multi-function kiosk market
is projected to grow at a CAGR of 24.5% over the forecast period of 2020-2026.
New forms of automated service and
digital technology provide numerous exciting opportunities for financial
services to become more tailored and convenient. While some companies have gone
for a complete technological overhaul as seen in China Construction Bank’s or
Bank of America’s robot-run branches, the majority of these upgrades involve
bringing in technology to supplement the human experience, rather than replace
it. By far, the most efficient method is by replacing or augmenting the
standard greeting desk with self-service kiosks. Through this moderately simple
investment, customers are able to skip the queue and get face time with staff
quickly, creating a streamlined lobby that’s more inviting to your customers.
Multi-function kiosks offer the added benefit of reducing labor costs and position the brand as technologically
superior. It also allowing management to track and measure operations metrics
across branch locations as well as providing them with the information they
need to make more informed decisions and improve the experience even further.
The rising demand for self-service in several security-related applications in
financial sectors is majorly driving the global multi-function kiosk market.
Multi-function kiosk system helps in diverse bank processes such as cheque
deposit (CTS interface), cash deposit automation (single/bulk), bill payment,
statement printing, grievance management, information service, application
processing and tracking, and internet banking. However, the increasing use of
mobile devices reducing the usage of self-service banking kiosks is hampering
the market growth. Moreover, the Introduction of NFC-Based contactless payments
in the banking sector in the APAC region is providing growth opportunities to
the market players. The current concern
over the spread of coronavirus is expected to have a moderate impact on the
multi-function kiosk market. Banks certainly have their hands full in the light
of the novel coronavirus outbreak (COVID-19). As the virus continues to spread
around the world, borrowers and businesses face job losses, slowed sales, and
declining profits. However, the World Health Organization (WHO) has advised
people to use contactless payment and avoid handling banknotes as much as
possible which positively impacting the global market.
Among the geographies, Asia
Pacific is the largest and the fastest-growing region in the multi-function
kiosk market. The high adoption rate of advanced technologies and increasing
digitalization are driving the growth of the multi-function kiosk market in
this region. In addition, high investments from multi-function kiosk solutions,
rising disposable income are some factors that contribute to the growth of the
multi-function kiosk market in the Asia Pacific region. On the other side,
North America is the second-largest market for multi-function kiosks as
countries such as the U.S. and Canada are the front-runners of the adoption of
new technology in the banking sector. These nations have a major dominance,
with sustainable and well-established economies, which empower them to
intensely invest in R&D activities, thereby contributing to the development
of innovative technologies in the multi-function kiosk market.
The report on the global
multi-function kiosk market covers segments such as component, types, and
applications. On the basis of component, the sub-markets include hardware and
software. On the basis of types, the sub-markets include self-service kiosks,
information kiosks, internet kiosks, and others. On the basis of application,
the sub-markets include bill payment, grievance management, information
services, and others.
The report provides profiles of
the companies in the market such as AURIONPRO, Aplab Limited, KIOSK Information
Systems, Albertsons International Private Limited, Cyber Kiosk Solutions, Inc.,
GLUCK INTERNATIONAL LLP, Forbes Technosys Ltd., Infinitas Technology Solutions
Pvt. Ltd., C-Edge Technologies, and LamasaTech Ltd.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the market
using analytical tools such as Porter's five forces analysis and DRO analysis
of the multi-function kiosk market. Moreover, the study highlights current market
trends and provides forecasts from 2020-2026. We also have highlighted future
trends in the market that will affect the demand during the forecast period.
Moreover, the competitive analysis given in each regional market brings an
insight into the market share of the leading players.