Bank Kiosk Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
Rapid technological advancements are likely to shape the future of the global bank kiosk market. The emergence of near field communication (NFC) technology and its incorporation with contactless payment options in the banking sector in Asia Pacific is opening new avenues for players in the market. On the basis of type, the global bank kiosk market can be divided into single-function kiosk, multi-function kiosk, and virtual video teller machine. Among these, the demand for multi-functional kiosk is expected to remain strong throughout the forecast period. Combining various functionalities in one machine can help organizations in cutting down capital expenditure on application development, machine purchases, installation, and maintenance.
Based on components, the market can be categorized into software, hardware, and services. While hardware include card readers, printers, keyboards, touchscreens, card dispensing machines, and barcode readers and scanners, software used can be multivendor software, application development platform, content management software, and remote device management. Hardware is anticipated to account for a large share in the bank kiosk market during the forecast period. On the other hand, the spiraling need for independent software purchases to develop technologically advanced interactive kiosk is estimated to allow the software segment to gain significant traction during the same period.
In terms of distribution, the global bank kiosk market can be fragmented into urban, semi-urban, and rural. The higher knowledge among the urban population to use bank kiosk and burgeoning demand for self-service machines is contributing to the growth of the urban segment.
The growth in the global bank kiosk market is projected to increase substantially across the forecast period. With a high level of competition and development of innovative features and products, the market is likely to register a healthy growth rate in the next few years. The remarkable efforts being taken by prominent players to offer improved and efficient customer service is expected to supplement the growth of the global bank kiosk market throughout the forecast period.
The research study provides a detailed analysis of the global bank kiosk market and throws light on the vital dynamics that are predicted to impact the development throughout the forecast period. The product segmentation, technological developments, latest trends, applications, and the key geographical segments have been included in the research report. Additionally, the competitive landscape of the global bank kiosk market has been highlighted to guide the new entrants in the market.
The growing demand for self-service in a large number of security-related applications in the financial sector is one of the major factors expected to boost the demand for bank kiosks throughout the forecast period. In addition, a substantial reduction in the operational costs and the improved customer services provided by interactive bank kiosks are some of the other factors likely to encourage the growth of the global market in the coming years.
On the other hand, the requirement of high initial cost for installation and the tremendously rising use of mobile devices resulting in significant reduction in the use of bank kiosks are anticipated to restrict the growth of the global bank kiosks market throughout the forecast period. Moreover, the rising demand for improved technology and controlling cyber security threats are predicted to curtail the market’s growth in the near future. Nevertheless, the increasing number of investments by leading players to supplement the growth of the overall market in the near future.
To offer a strong understanding of the global bank kiosk market, the research study has divided the overall market on the basis of geography. Among the key segments, Asia Pacific is projected to witness robust growth in the next few years. The rising demand for bank kiosks and the increasing number of government initiatives to encourage the adoption of bank kiosks to offer convenience to consumer are anticipated to fuel the growth of the bank kiosk market in Asia Pacific in the near future.
Furthermore, the increasing focus of leading players on enhancing their market penetration, especially in developing nations around the world is expected to contribute significantly towards the growth of the market. The market share, size, and growth rate of each regional segment have been provided in the scope of the research study.
A large number of players operating in the global bank kiosk market and the rising demand for bank kiosks across the globe are the vital factors fuelling the growth of the market. As per the research study, this market is anticipated to witness intense competition throughout the forecast period. The company profiles of prominent players, along with their latest trends, financial status, product portfolio, business tactics, mergers and acquisitions, and SWOT analysis have been discussed in the scope of the research report.
Some of the prominent players operating in the bank kiosk market across the globe are Cisco Systems, Inc., Inspur Technologies Co., Ltd., OKI Electric Industry Co., Ltd., Shenzhen Yi of Computer Co., Ltd, GRG Banking, Hitachi-Omron Terminal Solutions, Corp., NCR Corporation, Diebold, Inc., Glory Limited, Auriga SPA, Korala Associates Limited (Kal Atm Software), and Nautilus Hyosung.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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