Retail Interactive Kiosk Industry size is expected to register 9% CAGR between 2024 and 2032 propelled by growing retail adoption.
Selbyville, Delaware , Sept. 09, 2024 (GLOBE NEWSWIRE) — Retail Interactive Kiosk Market is expected to reach a remuneration of USD 12.5 billion by 2032, as per a recent study by Global Market Insights Inc.
The industry growth is driven by the strong demand for self-service solutions to enhance customer experience and streamline retail operations. As consumers increasingly prefer faster, contactless transactions, retailers are adopting interactive kiosks for functions like self-checkout, product browsing, and personalized recommendations. These kiosks improve customer engagement by offering tailored services and reducing wait times, which is crucial in competitive retail environment. The rising focus on digital transformation within the retail sector is also pushing businesses to integrate advanced technologies, such as AI and IoT into kiosks for enabling smarter, data-driven interactions and improved inventory management.
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The expanding adoption of interactive kiosks across a diverse range of retail formats, including supermarkets, shopping malls, and convenience stores will further drive the market growth. As retailers seek to optimize floor space and labor costs, kiosks offer a cost-effective solution for automating tasks like payments, wayfinding, and customer service. The flexibility of these kiosks, which can be customized to meet specific business needs will also drive their adoption.
Rising demand for wayfinding kiosks
Retail interactive kiosk market size from the wayfinding kiosks type segment is slated to gain momentum over 2024-2032. This is due to the increasing need for efficient navigation and enhanced customer experience in large retail environments, such as malls, shopping centers, and department stores. Wayfinding kiosks offer easy-to-use digital maps and directions, helping customers to quickly locate stores, services, and amenities to improve overall customer satisfaction and increases foot traffic. As retail spaces expand and become more complex, the demand for user-friendly, interactive navigation tools will also grow.
Touch-based kiosks to gain prominence
In terms of technology, the retail interactive kiosk market from the touch-based segment will expand through 2024-2032 due to their intuitive interface, ease of use, and ability to deliver personalized customer experiences. Touchscreens allow users to easily interact with digital displays for tasks like product browsing, self-checkout, and service inquiries, which enhances convenience and speeds up transactions. Retailers are also increasingly adopting these kiosks to meet consumer expectations for quick, seamless, and contactless shopping experiences.
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Asia Pacific to emerge as a lucrative market
Asia Pacific retail interactive kiosk market is expected to expand at a rapid pace up to 2032 backed by rapid urbanization, increasing digitalization, and the expanding retail sector in China, Japan, and India. The rising consumer demand for convenient, contactless shopping experiences is prompting retailers to invest in interactive kiosks for tasks like self-checkout, product information, and personalized recommendations. Additionally, the rapid growth of smart cities and the increasing adoption of advanced technologies, such as AI and IoT in retail are further fueling the regional product demand.
Retail Interactive Kiosk Market Participants
Some of the prominent retail interactive kiosk industry players include Advantech Co., Ltd., Peerless-AV, Diebold Nixdorf, REDYREF Retail Interactive Kiosks, Frank Mayer and Associates, Inc., VeriFone, Inc., IBM Corporation, Phoenix Kiosk, Inc., KIOSK Information Systems, Panasonic Corporation, Meridian Kiosks, Olea Kiosks Inc., MetroClick, and NCR VOYIX Corporation. These firms are focusing on partnership ventures and innovations to proliferate their product portfolio and customer base. For instance, in June 2023, SmartMatter AI introduced its user-friendly and accessible AI Assistants for Digital Signage.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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