Bank Kiosk Market by Type (Single-Function Kiosk, Multi-Function Kiosk, and Virtual/Video Teller Machine); Component (Hardware, Software, and Services): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026199 | Pages: 100 | Industry: Electronics and Semiconductor | Date: Sep 2022 | Type: Global

The bank kiosk market is expected to cross US$ 750 million in 2022 and is projected to hit US$ 1,650 million by 2030, recording a CAGR of 13% during the forecast period.

Growing Application Areas of Kiosks

With self-service kiosks getting deployed offsite/onsite, the customers can carry out their standard transactions while lowering waiting times significantly. Therefore, the demand of kiosks for deposit; Stripe, chip, and contactless card reader; Interactive, responsive display; ID reader; digital document signing; two-way video capabilities; document scanning; USB and SD memory card input; fingerprint reader; receipt printer; product demos; and product catalogue applications is rising at a massive rate. To fulfil demand arriving from mentioned applications, the outlook of bank kiosk installation will rise, which in turn will create a positive impact in the growth of bank kiosk market.

The hardware segment by component contributes massively towards the deployment of more bank kiosks. The focus towards enhancing banking service including self-service kiosk is getting expanded. Also, owing to reluctance of few consumers for human-to-human interaction and convergence of consumer preference for self-service, the financial institutions are accepting automated solutions including bank kiosk. This factor is in turn promoting demand for hardware used in bank kiosk such as system memory chips and necessary platforms.

Within the report, the bank kiosk market is segmented into type, component, and geography. Based on component, the bank kiosk market is segmented into hardware, software, and services. By type, the bank kiosk market is categorized into single-function kiosk, multi-function kiosk, and virtual/video teller machine. Geographically, the market is subsegmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Emergence of Video Tellers Integrated with Video-based is Forecasted to Propel the Demand of Bank Kiosk for Better Banking and Transactional Services

A bank kiosk are small internet-enabled booths placed by the banks at different locations (alike ATM) to offer banking services without the need to visit the bank. The increasing adoption of advances technology by the banking sector has resulted in growth of bank kiosk. This equipment offer 24-7 self-service to customers thus, increasing customer satisfaction along with a considerable reduction in the operational costs. The bank kiosk enable the individuals to access different banking facilities like transactions, cheque transfer, cash deposit, remittances, or balance inquiry without approaching bank branch for mentioned information.

Rising Adoption of Virtual Teller Machine is Amongst the Key Factors Propelling the Bank Kiosk Market Growth

The virtual teller machine provides professional support to customers while facilitating banks to keep costs lower. The adoption of a virtual teller model allows the banks to avoid excessive on underutilized experts. In addition, the virtual tellers permit the customers to interact with professional privately irrespective of time, day, and location. The virtual teller machine allows the banks to bring branch to the end users by providing remote services.

At present, the kiosk models are enhancing customer experience by working on providing high security and ease-of-use. This benefit provided by virtual teller machine is projected to create lucrative growth opportunities for bank kiosk market.

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Recent Strategic Developments in Bank Kiosk Market

The bank kiosk market has undergone several significant developments, and a few of these have been mentioned below:

  • In September 2022, a Polish bank named PKO Bank Polski has team up with Diebold Nixdorf Inc. to execute DN Series self-service solution to boost in-branch experiences. The DN Series provides a cash recycling system and facilitates customers to withdraw and deposit large number of banknotes and array of flexible transactions.
  • In June 2022, Al Qurtas Islamic Bank in Iraq to install DN Series ATMs of Diebold Nixdorf Inc. The deployed ATMs will be monitored by Vynamic View software provided by Diebold Nixdorf to detect and avert downtime while optimizing performance and reducing costs for the bank.

The bank kiosk market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Auriga SPA; Diebold, Inc.; Glory Limited; GRG Banking; Hitachi Channel Solutions, Corp.; KAL ATM Software GmbH; NCR Corporation; OKI Electric Industry Co., Ltd.; Shenzhen Sui-Yi Touch Computer Co.,Ltd; and Inspirisys are among the prominent players operating in the bank kiosk market.

Target Audience for the Report:

  • Bank kiosk component providers
  • Bank kiosk providers
  • Bank kiosk -related service providers
  • Kiosk related associations, organizations, and government bodies, such as regulating authorities and policy makers
  • Bank kiosk distributors, sales firms, and third party distributors
  • Different banks using kiosk machines

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Component   
    • Hardware
    • Software
    • Services
  • Type
    • Single-Function Kiosk
    • Multi-Function Kiosk
    • Virtual/Video Teller Machine
  • Region
    • North America
    • Europe
    • Asia Pacific
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • Auriga SPA
    • GRG Banking
    • Hitachi Channel Solutions, Corp.
    • KAL ATM Software GmbH
    • NCR Corporation

Companies profiled

- Auriga SPA

- GRG Banking

- Hitachi Channel Solutions, Corp.

- KAL ATM Software GmbH

- NCR Corporation

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