The global bank kiosks market is expected to display higher growth rate in the upcoming years. Rapid surge in the market is credited to the rising demand from government as well as commercial sector. Rapid technological advancement in the banking and finance sector is a key aspect for robust market growth of bank kiosks. The rise in number of banks, financial institutions coupled with advent of digital banking are expected to drive the growth of the market over the forecast period. Globally, bank kiosks market is predicted to generate massive revenue over the forecast period, providing numerous opportunities for industry participants to invest in research and development of bank kiosks.
Rising deployment of bank kiosks to offer enhanced customer services via interactive platforms is projected to positively influence market growth over the forecast period. Integration of bank kiosks leads to reduction in overall operational costs and higher performance are key driving factors for sustained market growth over the coming years. Bank kiosks are deployed for streamlining various banking services to offer better operational flexibility. These factors are projected to favor market growth to a certain extent.
Incorporation of high-end features that allows easy authentication, particularly at front counter is anticipated to boost market demand over the coming years. Embedding advanced card scanning function at backend processes for better operational efficiency to offer information about banking transactions are expected to fuel market demand for bank kiosks. In addition, adoption of high-end technology with high operation capabilities & security systems are predicted to favor the market growth in upcoming years.
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The bank kiosks market is broadly categorized into major segments based on the product type such as single-function systems, multi-function systems and virtual/video teller machine. Single-function systems segment is growing rapidly in the market with substantial revenue generation in the last few years. Growing popularity of single-function systems segment is attributed to the easy product availability and simple installations.
The bank kiosks market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in banking sector, surge in number of research & development activities and existence of well-established industrial infrastructure in the region. In European region, Germany, France, and United Kingdom are projected to witness steady growth.
Asia-Pacific region is estimated to hold a major share in the bank kiosks market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth, rapid digitalization in banking sector, rising consumer base, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the bank kiosks market are Kiosk Information Systems, Inc., Honeywell International, Inc., NCR Corp., Fujitsu Ltd., Diebold, Inc., Slabb Kiosks, Inc., Hitachi, Ltd., Glory Ltd., IBM Corp., and Eastman Kodak Co.
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