Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by Infinium Global Research on the bank kiosk market provides an in-depth analysis of segments and sub-segments in the global as well as regional bank kiosk market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional bank kiosk market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global bank kiosk market. According to the report, the global bank kiosk market is projected to grow at a CAGR of 19.94% over the forecast period of 2021-2027.
The bank kiosk market was valued at USD 491.8 million in 2021 and is expected to reach USD 1463.7 million by 2027 it is anticipated to grow at a CAGR of 19.94% during the forecast period. The Bank KIOSK allows customers to undertake different banking transactions without the need for visiting a Bank Branch. It is basically a service offered by several banks, wherein the people do not have to actually visit the branch in order to do a variety of transactions. This is so because the customer can easily open an account in the bank and operate from any of the nearest Kiosk Banking outlets themselves in a hassle-free manner. It is primarily introduced by the Govt. as a boosting financial inclusion, particularly in the rural areas.
Enhanced customer services offered by bank kiosks driving the growth of the market. Smart device trends are driving the banking and financial sector towards IT consumerism. Banking and financial institutes are using this transformation to automate processes, offer innovative products and services, and improve bank’s connectivity. In addition, KIOSK banking is an important concept and basically developed for rural areas of the country where fewer banks are and people can't reach the bank to use their services. As with the ordinary bank branches, the kiosks will offer all the basic services of banking. This banking feature was launched to help and benefit the poor or unbanked section of society and individuals who are unable to maintain a minimum balance in their bank accounts. Moreover, for people who do not have banking facilities in their villages and cannot travel long distances to avail themselves of banking services. With the help of a Kiosk banking service, customers can undertake various banking activities, such as money transfer, account opening, cash withdrawal, remittances, and cash deposit; apart from micro-lending and insurance. However, high installation costs and the need for regular maintenance are affecting the growth of the market. Moreover, companies' investment in bank kiosks will provide a significant growth opportunity for the market.
The Asia Pacific dominates the bank kiosk market. The bank kiosks market in the Asia Pacific mainly consists of India, China, Japan, South Korea, and Australia. Governments in Asian countries are making efforts to enhance the development of the fintech industry and provide new, innovative banking solutions. The main aim is to increased the adoption of fintech to attract international innovators in the market. Furthermore, increasing awareness among customers about the security and reliability of banking kiosks is going to provide growth to the bank kiosk market.
The report on global bank kiosk market covers segments such as type, offering, and distribution. On the basis of type, the sub-markets include single-function, multi-function, and virtual/video teller machine. On the basis of offering, the sub-markets include hardware, software, and services. On the basis of distribution, the sub-markets include rural, semi-urban, urban, and metropolitan.
The report provides profiles of the companies in the market such as NCR CORPORATION, GLORY LIMITED, DIEBOLD NIXDORF, GRGBANKING, OKI ELECTRIC INDUSTRY CO., LTD, AURIGA SPA, ITACHI-OMRON TERMINAL SOLUTIONS, CISCO SYSTEMS, INC, STAR MICRONICS CO., LTD, and Other.
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 bank kiosk market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. 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.