The global self-service kiosk market is expected to expand at a healthy CAGR of around 11% over the 2024 to 2031 forecast period, with demand for voice-based self-service kiosks skyrocketing.
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Self-service kiosks are interactive terminals that enable action, display information, or streamline the process, giving customers control over getting things done on their terms. With various technological advancements, self-service technologies are being used extensively at banks, hospitals, airports, amusement parks, etc.
Consumer demand for self-service kiosks is rising day by day, as more and more consumers are looking for a better experience such as customization, convenience, and enhanced interface. The supply side too is enhancing the technological base for the seamless supply of products and services by standardizing services and minimizing labour cost, leading to an enhanced customer base. End-use industries such as healthcare, aviation, hospitality, retail, and banking are projected to give a major boost to market growth over the coming years.
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Historical Trends Vs Future Projections
In the past half-decade, self-service kiosks have seen significant growth in use, owing to the rising food and retail sector. At a CAGR of 11%, the market is forecast to see impressive growth. Market growth will be primarily due to improvements in consumer convenience and providing value to customers. However, due to the COVID-19 pandemic in FY-2020, growth of the industry was hindered. Trade restrictions, supply-chain disruptions, and lockdowns were some of the factors that dented sales. Future trend of the industry is voice-based self-service kiosks, as touch-based self-service kiosks are becoming unpopular due to the COVID-19 pandemic. Demand has been rising for self-service kiosks at airports, self-service kiosks for hotels, interactive kiosks at hospitals, and across many sectors.
Owing to these factors, demand over the long-term forecast period can be estimated by breaking the forecast timeline into three parts:-
- Short-run: Growth of market is expected to be hindered due to the COVID-19 pandemic, with demand for voice-based self-service kiosks increasing rather than touch-based self-service kiosks.
- Medium-run: Demand is set to be observed with price normalization and the market is set to gain momentum.
- Long-run: The market is set to grow at an impressive 11% CAGR over the forecast period (2021-2031) due to increasing benefits of self-service kiosks.
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The Self-service Kiosk market report answers important questions which include:
- What does the status of the Self-service Kiosk market look like after the forecast period?
- Which region has the highest contribution to the global Self-service Kiosk market and why?
- Which players remain at the top of the global Self-service Kiosk market?
- What opportunities are available for the Self-service Kiosk market players to expand their production footprint?
- Which segment has the maximum impact on the global Self-service Kiosk market?
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