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Transforming User Experience: Interactive Kiosk Market Insights 2024
Interactive Kiosk Market Drivers
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According to The Business Research Company's, The interactive kiosk market size has grown strongly in recent years. It will grow from $24.77 billion in 2023 to $26.44 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to increased emphasis on customer engagement, efficiency and cost reduction in retail, rising demand for self-service solutions, government initiatives and regulations, transportation and ticketing solutions, healthcare efficiency and patient services..
The interactive kiosk market size is expected to see strong growth in the next few years. It will grow to $34.93 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to growth in smart cities initiatives, retail innovation and omnichannel experiences, customization and personalization, data security and privacy measures, education and training applications.. Major trends in the forecast period include contactless and touchless technology, multifunctional and modular designs, sustainability and eco-friendly features, real-time content updates, global expansion in transportation hubs..
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Market Drivers and Trends:
The enhanced shopping experience for customers is expected to propel the growth of the interactive kiosk market going forward. Changing customer shopping options from brick-and-mortar shops to online is increasing the demand for interactive kiosks. An increase in demand for automated systems and seamless performance of the self-service machines enhances overall customer satisfaction and reduces the operational time as compared to manual services. According to Emplifi, a US-based software company, in 2023, 77% of brands believe consumer experience is a key competitive differentiator among companies and the customer experience market is expected to grow to approximately 8.79 billion in 2021 and is expected to grow at a rate of 18.1% from 2022 to 2030. Therefore, enhanced shopping experience for customers is driving the interactive kiosk market growth.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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Major Key Players of the Market:
Advantech Co. Ltd., Diebold Nixdorf Incorporated, Embross, Kiosk Information Systems, Meridian Kiosks, NCR Corporation, Redyref Interactive Kiosk, Source Technologies, Touchscreen Solutions, Olea Kiosks Inc., Frank Mayer and Associates Inc., Korala Associates Ltd., Acante Solutions Limited, Intuiface, Zivelo Inc., Aila Technologies Inc., Fujitsu Information and Communications Technology Company Limited, VeriFone Systems Inc., Evoke Creative, Nautilus Hyosung Inc., HT Kiosk, PBT Industrial, Samsung Electronics Co. Ltd., Nexcom International Co. Ltd., Phoenix Kiosk Inc., Codan Communications Pty Ltd, Harris Corporation, Thales Group, Raytheon Company, Rohde & Schwarz India Private Limited, Barrett Communications, Simoco Group, SlabbKiosks, IER SAS
Interactive Kiosk Market 2024 Key Insights:
• The interactive kiosk market size is expected to see strong growth in the next few years. It will grow to $34.93 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%.
• Enhanced Shopping Experiences Boost The Interactive Kiosk Market
• Cloud Computing And Mobility Drive Innovation In The Interactive Kiosk Market
• North America was the largest region in the interactive kiosk market in 2023
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