Market Overview and Dynamics
The self-service kiosks market in North America is expected to grow from US$ 4,999.74 million in 2019 to US$ 8,568.29 million by 2027; it is estimated to grow at a CAGR of 7.2% from 2020 to 2027. Businesses in various sectors are focusing on automating their operations—especially sales process—by installing smart kiosks, which demands a large amount of investments. The deployment of self-service kiosks also includes high processing costs, purchasing costs, and costs associated with the repair and maintenance of the facilities. Additionally, due to the COVID-19 outbreak, businesses are facing difficulties in managing and responding to varying demands of customers. Thus, the businesses are already witnessing a serious cash shortage. Hence, they are forced to adopt different solutions for contactless payment and laid off some of their workers. Therefore, has impacted and is projected to affect the businesses in the coming years, owing to the hindering unparalleled economic growth and recession.
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Market Introduction
The self-service kiosk is a computer device specifically designed to leverage the user in performing specific tasks and services such as buying tickets, paying bills, bank transactions and many others. They are extensively being used across retail industry, healthcare, entertainment, transportation, BFSI, and government among others. It is deployed to enhance the user experience by offering several hassle-free services by paramounting the importance to the consumers comfort level. The key feature of the self-service kiosks is data security which is driving the demand of self-service kiosk market in North America. The self-service kiosks offer several benefits to service providers such as optimization of the overall cost of businesses by reducing the infrastructure set-up and labor cost. The self-service technologies permit the user to manage a various service independently, without the participation of any representatives. It offers a higher level of customer satisfaction by offering control over their purchase decisions. Thus, the major factors have led to the widespread adoption of self-service interactive kiosk in the urban areas. Also, growth in technological advancements providing aid in adoption of self-service kiosks in the coming years, which is further anticipated to drive the North America self-service kiosks market.
North America is hindered by the COVID-19 pandemic. Retail stores were affected severely in 2020 due to the outbreak. According to the real estate firm, CoStar Group, as many as 12,000 stores were temporarily shut in the US in 2020. J.C Penney and GameStop were among the key retail brands that closed their stores in 2020. Similar trend was visible in the hospitality industry. However, the healthcare industry has been resilient in these times of pandemic. Enterprises that were likely to implement kiosks system in 2020 had to either delay the implementation plan or scrap it completely, thereby positively impacting the demand for self-service kiosks. However, as the lockdown appears to be easing and operations are resuming, the demand for self-service kiosks is expected to pick pace in the coming years.
North America Self-Service Kiosks Strategic Insights
Strategic insights for the North America Self-Service Kiosks provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
Market leaders and key company profiles
Acrelec SAS
Diebold Nixdorf, Inc.
Embross
Gemalto NV (Part of Thales Group)
KIOSK Information Systems, Inc.
Meridian Kiosks
NCR Corporation
Olea Kiosks Inc
Posiflex Technology, Inc.
VeriFone, Inc.
North America Self-Service Kiosks Regional Insights
The geographic scope of the North America Self-Service Kiosks refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
Key Market Segments
In terms of component, hardware segment accounted for the largest share of the North America self-service kiosks market in 2019. Based on type, information segment accounted for the largest share of the North America self-service kiosks market in 2019. Further, based on application, retail segment held a substantial share in the North America self-service kiosks market in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the self-service kiosks market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Acrelec SAS; Diebold Nixdorf, Inc., Embross, Gemalto NV (part of Thales Group), KIOSK Information Systems, Inc., Meridian Kiosks, NCR Corporation, Olea Kiosks Inc.., Posiflex Technology, Inc. and VeriFone, Inc.
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Author’s Bio
Akshay
Senior Market Research Expert at Business Market Insights
