The global banking kiosk market will reach $2.2 billion by 2031:
Portland, OR, July 07 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the bank kiosk market accumulated $756.96 million in 2021 and is expected to gross $2.2 billion by 2031, registering a CAGR of 11.5% from 2022 to 2031. The report offers a detailed analysis of the changing trends of the market, major segments, major investment pockets, value chain, regional landscape, and competitive scenario.
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The lucrative demand for multi-function kiosks, remote management and technological breakthroughs are driving the growth of the banking kiosks market. Additionally, an increase in demand for self-service in banking and financial services and improved consumer services provided by bank kiosks will spearhead the demand for bank kiosks. However, an increase in the use of smartphones for banking services and high installation costs are restraining the growth of the market. Nonetheless, the surge in investments by banking firms for the deployment of banking kiosk in the Asia-Pacific region will open new growth opportunities for the market.
- The banking kiosk industry has seen an increase in investment in banking kiosk technology from major industry players during the COVID-19 pandemic, due to an increase in acceptance of payment systems without touching.
- The COVID-19 pandemic has provided new opportunities for launching products into the market.
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The report offers detailed segmentation of the global banking kiosk market on the basis of component, type, distribution, and region.
On a component basis, the software segment accounted for the greater share of the market in 2021, contributing approximately two-fifths of the overall global banking kiosk market share. However, the services segment is expected to register the highest CAGR of 12.9% from 2022 to 2031.
Based on type, the multi-function kiosk segment accounted for the largest market share in 2021, contributing more than two-fifths of the overall global banking kiosk market share. However, the virtual video box office segment is expected to register the highest CAGR of 12.8% from 2022 to 2031.
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Based on region, Asia-Pacific contributed the highest market share in 2021, accounting for more than two-fifths of the market. However, the LAMEA banking kiosk market is expected to register the fastest CAGR of 12.8% from 2022 to 2031.
Key players profiled in the Global Bank Kiosk Market research report are Auriga Spa, Oki Electric Industry Co., Ltd., Cisco Systems, Inc., Diebold Nixdorf, Incorporated, NCR Corporation, Glory Ltd., GRGBanking, KAL ATM Software GmbH, Hitachi Channel Solutions, Corp. and Star Micronics Co., Ltd.
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Pawan Kumar, CEO of Allied Market Research, directs the organization towards the provision of high quality data and information. We maintain professional relationships with various companies which helps us to extract market data which helps us to generate accurate research data tables and confirm the utmost accuracy of our market predictions. All data presented in the reports we publish are drawn from primary interviews with senior managers of large companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts.