A 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, and bank transactions. They are extensively being used across retail, healthcare, entertainment, transportation, BFSI, and government, among others. They are deployed to enhance the user experience by offering several hassle-free services. The key feature of the self-service kiosks is data security, which is driving their demand.
According to the new research report titled “Self-service kiosks Market Forecast to 2027 – COVID-19 Impact and Global Analysis,” published by The Insight Partners, the market is expected to reach US$ 21,415.4 million by 2027, registering a CAGR of 8.6% from 2020 to 2027.
With rising technological advancements, the adoption of Intelligent Personal Assistant & Knowledge Navigator applications—such as Cortana and Siri—in self-service kiosks is constantly witnessing an increase. These self-service kiosk solutions are designed to enhance the consumer engagement with the machine by leveraging data analytics for governing the quantity sales, customer purchasing habits, and many other criteria. They also suggest the right alternatives and incentives to further boost the customer purchasing decisions. Self-service kiosks also boost the business revenues and augment the customer ties by offering major growth opportunities to the market. Several vendors are developing advanced self-service kiosks for providing enhanced online shopping alternatives to their customers in order to promote products and services across the stores. These self-service kiosks permit the interfacing capabilities to boost the retailers’ experience by providing substantial product demos as well as permitting the retailers to sell goods and items without stocking up. Furthermore, the implementation of advanced technological solutions, such as QR codes, RFID, and smartphone transactions, for payment transactions to help the consumer to check out their purchases by using smartphones, gift cards, and credit/debit cards among others. This, in turn, is throttling the growth of the self-service kiosks market.
The self-service kiosks offer several benefits, 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 various services independently, without the participation of any representatives. They offer a higher level of customer satisfaction by offering control over their purchase decisions. These factors have led to the widespread adoption of self-service interactive kiosk in the urban areas. Furthermore, to boost the urban living, self-service kiosks offer several valuable services, such as advertising, live transit feeds, free unlimited Wi-Fi access, and emergency notifications to users. Rising adoption of Internet of things (IoT) and other smart connected devices is further adding value to consumer experience. The smart kiosks are integrated with the world-class technologies, such as machine-to-machine communication, cloud, and IoT. By leveraging these advanced technologies/platforms, the self-service kiosks offer cost-effective access to information.
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