LONDON–(BUSINESS WIRE)–The interactive kiosk market size is expected to post a CAGR of close to 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
The rise in urbanization and growth in disposable income in emerging countries has resulted in a high number of cars being sold. This has led to a high density of vehicles on the road which is resulting in traffic congestion and difficulty in finding parking slots. These factors are driving the demand for smart parking, in which multiple technologies are used to achieve faster, easier, and efficient parking of vehicles. The growing implementation of smart parking solutions will increase the deployment of self-service kiosks, which in turn, will drive the growth of the interactive kiosks market.
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As per Technavio, the integration of advanced technologies in interactive kiosks will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Interactive Kiosk Market: Integration of Advanced Technologies in the Interactive Kiosk
The interactive kiosk market is witnessing the development of several advanced technologies. Vendors in the market are increasingly focusing on developing self-service kiosks that use technologies such as artificial intelligence (AI) and facial recognition. The use of such technologies will help kiosk systems to learn from customer data and develop into a smarter system with functionalities such as voice assistant and customer order prediction. Thus, the integration of advanced technologies will be one of the key interactive kiosk market trends that will impact growth during the forecast period.
“Vendors in the market are forming strategic partnerships and opting for acquisitions to gain a competitive edge over other competitors. These strategies allow vendors to expand their geographical presence, product portfolio, and market share. Moreover, several of these partnerships approaches are favored by other participants such as distributors. Thus, the growth of these partnerships and acquisition will drive the growth of the interactive kiosk market value during the forecast period,” says a senior analyst at Technavio.
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Interactive Kiosk Market: Segmentation Analysis
This market research report segments the interactive kiosk market by end-user (retail, travel and tourism, financial services, healthcare, and others) and geographical regions (MEA, South America, APAC, North America, and Europe).
The North American region led the interactive kiosk market in 2018, followed by APAC, Europe, MEA, and South America respectively. The growth of the interactive kiosk market share in North America can be attributed to factors such as the growing investments in the establishment of new retail stores, and the rapid growth of QSRs in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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