The report
"Bank Kiosk Market
with COVID-19 Impact Analysis by Type (Single-function Kiosk, Multi-function
Kiosk, Virtual/Video Teller Machine), Location (Indoor, Outdoor), Offering,
Distribution and Geography - Global Forecast to 2026", was valued at USD
744 million in 2021 and is expected to reach USD 1,311 million by 2026; it is
anticipated to grow at a CAGR of 12.0% during the forecast period. The factors
such as rising demand for self-service in banking and financial services
applications, enhanced customer services offered by banking kiosks, and
reduction in overall operational costs are the key factors driving the bank
kiosk market.
Multi-function
kiosks to account for the largest share of bank kiosk market in 2020
Based on the type,
the bank kiosk market has been divided into single-function kiosk,
multi-function kiosk, and virtual/video teller machine. Multi-function Kiosk
held the highest share in 2020. Factors such as less capital expenditure in
application development, equipment purchases, installation, and maintenance are
pushing the banks to adopt multi-function kiosks over single-function kiosks
thereby, driving the growth of bank kiosk market.
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Indoor
segment to account for the largest share of bank kiosk market during the
forecast period
On the basis of
location, the bank kiosk market is categorized into indoor and outdoor. Indoor
bank kiosks are used in places with limited space and can help attract
customers if placed in a crowded place. The growing interest in automation and
self-service technologies in the banking and financial service sector is
contributing to the larger share of indoor kiosks.
APAC is
leading the bank kiosk market in 2020
APAC held the
largest share in the bank kiosk market in 2020. The key reason behind the
growth of the bank kiosk market in APAC is that the governments in APAC
countries are making efforts to enhance the development of the fintech industry
and provide new, innovative banking solutions. The main aim behind the
increased adoption of fintech is to attract international innovators in the
market and take banking to the next stage. The deployment of self-service
kiosks is also increasing, especially for the population that prefers banking
through interactive kiosks than traditional banking.
Some of the key
companies operating in the market are NCR Corporation (US), Diebold Nixdorf
(US), GLORY LIMITED (Japan), GRGBanking (China), Hyosung TNS Inc. (Japan), KAL
ATM Software (Germany), and so on.
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