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Kiosk Market expected to reach US$4.4 bn by 2024 at a 6.2% CAGR

, 12 July 2018 -- Kiosk Market expected to reach US$4.4 bn by 2024 at a 6.2% CAGR

North America Kiosk Market: Snapshot

The North America kiosk market has been witnessing significant advancements over the past few years. Pop-up kiosks and the incorporation of digital signage offer high scope for growth over the forecast period. Emerging as an important marketing tool for businesses to reach their target audience, kiosks enable the assessment of new products as well as new geographic locations. Online retailers have been given a chance to experiment in traditional retail settings without investing in any physical presence.

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The revenue of the kiosk market in North America stood at US$2.5 bn in 2015 and is expected to reach US$4.4 bn by 2024 at a 6.2% CAGR therein. On the basis of volume, the market is projected to expand at a CAGR of 6.6% from 2016 to 2024.

Adoption Rate of Kiosks in Retail Surpasses that of Healthcare

Retail and healthcare are the most prominent applications of kiosks in North America, with the highest return on investment (ROI). Apart from these, kiosks also find application in other end-use sectors such as government, banking, financial services, and insurance (BFSI), travel and tourism, advertisement, and entertainment.

In the retail sector, kiosks are used for gift registry, inventory extension, loyalty, bill payment, and automated retail vending. Technological advancements in the retail sector are likely to fuel the use of kiosks in this application segment, enabling it to emerge as the dominant one by 2024. The adoption rate of healthcare-based kiosks is relatively slower, but is likely to pick up pace over the coming years. In the healthcare sector, kiosks are used for applications such as patient check-in and check-out, wayfinding and directory, human resource, hospital information, patient and physician communication portals, and virtual receptionist.

U.S. Kiosk Market Benefits from Strong Presence of Leading Players

The North America kiosk market is bifurcated into the U.S. and rest of North America by geography. In 2015, the U.S. emerged as the dominant segment by revenue as well as volume and the country is estimated to continue its lead through 2024. The U.S. kiosk market was valued at US$2.3 bn in 2015 and is projected to expand at a CAGR of 6.4% during the forecast period to cross US$4 bn by 2024. Both the retail and healthcare application segments in the U.S. contributed to the dominance of this region in the North America kiosk market. The U.S. kiosk market is projected to expand at a pace much greater than that of the rest of North America, TMR predicts.

One of the major factors responsible for the dominance of the U.S. in the North America kiosk market is the established presence of leading players and their continuous promotional efforts across the country. A case in point would be CVS Caremark Corp. The U.S.-based retailer and healthcare company has thousands of drug and pharmacy stores across the country with integrated kiosk bases. Food Lion, the U.S. division of Brussels-based Delhaize Group, has retail kiosks set up all over the U.S. in collaboration with American computer hardware, software and electronics company NCR Corporation. Retail giants such as The Kroger Company, Wal-Mart Stores, Inc., ALDI US, and Albertsons Companies Inc. have been progressing with their self-checkout rollouts. All of these activities continue to drive the kiosk market in the U.S.

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Some of the prominent players in the North America kiosk market are NCR Corporation, Kontron AG, Meridian Kiosks, Slabb Kiosk, ZIVELO, Optical Phusion, Inc. (OPI), Wincor Nixdorf AG, RedyRef, Olea Kiosk Inc., Phoenix Kiosk, Kiosk Information Systems, Fujitsu Ltd., and Diebold, Inc.

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Submitted by K Singha on Thursday, 12 July 2018 at 7:25 PM
Category: Science & Research
 
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