Self Service Kiosk Market Trends

Growth Drivers

• The popularity of Self-Service Kiosks Among Consumers - The rising demand for customized products and the surge in the number of food outlets globally is fostering the demand for self-service kiosks. In addition, touchscreen self-service kiosks are installed in retail stores, which in turn, is gaining considerable momentum among physical stores. For instance, in 2020, Mc Donalds started adopting self-order digital kiosks in their retail outlets. Digital kiosks allow payment, ordering, personalization, delivery, and honesty with improved customers this raises the popularity among consumers.  The rising adoption of automated kiosks within restaurants in order to tackle the heavy traffic volume of visitors is further accelerating the growth of the market over the forecast period. As per the research, 73% of consumers globally prefer self-service technologies over any other form. 
• Innovations and Technological Advancements - The rising advancements in technology have led to the development of self-service services including self-service kiosks. The innovations in self-service kiosks offer additional value to consumers and service providers such as seamless demand fluctuation, convenience, reduced waiting time, and standardization of services. Additionally, self-service kiosks enable customers to use a service without the intervention of a service provider. These important factors along with the development in Near-Field Communication (NFC) and Radio-Frequency Identification (RFID) in security applications are estimated to generate healthy growth for the market during the forecast period. As per the data, the self-service kiosk is expected to grow on the ground of technological advancement and innovation at CAGE 12% in 2023.
• User-Friendly Service Propelling the Growth of the Market – Consumers nowadays prefer self-service-oriented, user-friendly technologies that can help reduce the waiting time and are interactive & personalized. These kinds of self-service kiosks are available nowadays at various food joints, shopping malls, hospitals, amusement parks, etc. The adoption of the self-service kiosk at various food joints such as KFC and Taco Bell is driving the growth of this market.
• Increasing Automated System – As per the statistics, the interactive kiosk market held a market revenue of USD 29 billion in 2022.

Challenges

• Covid-19 Pandemic - The outbreak of the COVID-19 pandemic is predicted as a major restraint in the growth of the market. The touch-based self-service kiosks are losing traction among consumers. Further, disruptions in the supply chain along with trade restrictions are hampering the market growth over the forecast period.

• High Initial Investment
• Strict Regulations