Bank Kiosk Market by Type (Single-Function, Multi-Function & Virtual/Video Teller Machine), Offering (Hardware, Software, & Services), Distribution (Rural, Semi-Urban, Urban, & Metropolitan), & Geographic Analysis - Forecast to 2022
“The bank kiosk market is likely to grow at a CAGR of 24.58% between 2016 and 2022”
The bank kiosk market was valued at USD 170.2 million in 2015 and is expected to reach USD 826.7 million by 2022, at a CAGR of 24.58% between 2016 and 2022. It registered a shipment of 11,336 units in 2015 and is expected to reach 60,071 units by 2022, at a CAGR of 26.12% during the forecast period. The market growth can be attributed to several factors such as the rising demand for self service in several security-related applications in financial sectors, enhanced customer services offered by interactive kiosks, reduction in the overall operational costs, and increased adoption in various developing countries such as India, China, and Japan, among others.
“The market for multi-function kiosk is expected to grow at a high rate during the forecast period”
The market for multi-function bank kiosk is expected to grow at the highest CAGR between 2016 and 2022. Combining different functionalities in one kiosk has helped various organizations to reduce their capital expenditure on purchasing separate machines. Less capital expenditure in application development, equipment purchases, installation, and maintenance is the major factor driving banks to adopt multi-function kiosks over single-function kiosks.
“The market in APAC is expected to grow at the highest rate during the forecast period.”
The governments in the APAC region are taking efforts to enhance the development of the Fintech industry and provide innovative banking solutions. The main aim behind the increased adoption for Fintech is to attract international innovators in the market and take banking to the next level. Apart from this, the deployment of self- service kiosks is also increasing especially for the population which prefers banking through interactive kiosks to traditional banking. The market for self-service kiosks in the APAC region is in the growth stage.
Given below is the breakdown of primary participants’ profile by different parameters:
• By Company Type: Tier 1 - 57%, Tier 2 - 29%, and Tier 3 - 14%
• By Designation: C-Level Executives - 43%, Directors - 43%, and Others - 14%
• By Region: North America - 57%, Europe - 29%, and APAC - 14%
The key players operating in this market include NCR Corp. (U.S.), Diebold, Inc. (U.S.), Glory Global Solution (International) Limited (U.K.), Nautilus Hyosung (Japan), Hitachi-Omron Terminal Solutions (Japan), GRGBanking (China), Auriga SpA (Italy), Oki Electric Industry Co., Ltd. (Japan), Shenzhen Yihua Computer Co., Ltd. (China), Cisco Systems, Inc. (U.S.), Inspur Technologies Co., Ltd (China), and KAL ATM Software (U.K.).
In this report, various segments such as type, offering, distribution, and geography have been covered. It also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. The report gives a detailed view of the market across four main regions, the Americas, Europe, APAC, and RoW (comprising the Middle East and Africa). The Porter’s five forces analysis has been included in the report, along with the description of each of its forces and their impact on the market.
Reasons to buy the report:
• This report includes the statistics pertaining to the bank kiosk market in terms of type, offering, distribution, and geography, along with their respective market size (in terms of value and volume for the hardware market).
• The Porter’s five forces analysis, value chain analysis, and key strategies adopted by the market players have been provided for the bank kiosk market.
• Major drivers, restraints, opportunities, and challenges for the bank kiosk market have been provided in detail in this report.
• The report includes illustrative segmentation, analysis, and forecast for the bank kiosk market based on its segments and sub-segments.