DUBLIN–(BUSINESS WIRE)–The “Bank Kiosk Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The bank kiosk market was valued as USD 315 million at a CAGR of 27.54 % over the forecast period of 2021-2026.
- NCR Corporation
- Diebold Inc.
- Glory Limited
- KIOSK Information Systems
- Nautilus Hyosung Corporation
- GRG Banking
- Korala Associates Limited (Kal Atm Software)
- Hitachi-Omron Terminal Solutions Corp.
- OKI Electric Industry Co. Ltd.
- Cisco Systems Inc.
- Shenzhen Yi of Computer Co. Ltd
Key Market Trends
Multi Function Kiosk Expected to Grow at a High Rate during Forecasted Period
- Multi-function kiosk in bank offers services such as cheque deposit facility with CTS interface, bill payment facility using a debit card and Net banking, browser-based Internet Banking, noncash/inquiry services including balance inquiry and mini statement, among others.
- Multi-Function Kiosk helps in integrating different functionalities in a single platform helping various organizations to reduce their capital expenditure on investing in separate machines. Low capital expenditure in application development, equipment purchases, installation, and maintenance are major factors driving banks to adopt multi-function kiosks over single-function kiosks.
- Further, the customer is preferring self-service solutions because it reduces their effort and time of performing banking transactions. According to a study by Source Technologies, self-service retail banking kiosks can offer significant improvements to physical branch locations.
- For instance, usually, it takes customers 9 minutes to get an official check from a bank teller. But with self-service kiosks, the customer can get an official check in 40 seconds. Hence, customers can get their checks 13.5 times faster with a self-service kiosk.
- Kiosk in the bank also offers employees to focus more on complex tasks and customer services reducing their time and effort on daily routine transactions which are expected to drive the demand of the bank kiosk market across the emerging economies.
Asia-Pacific to Have Fastest Growth Rate in Bank Kiosk Market
- Asia-Pacific is expected to be the fastest-growing market during the forecasted period. The governments in the Asia-Pacific region are taking efforts to enhance the development of the Fintech industry and provide innovative banking solutions. The main aim behind the increased adoption of Fintech solutions is to attract international innovators in the market and take banking to the next level.
- Further, the deployment of self- service kiosks is also increasing especially for the population which prefers banking through interactive kiosks to traditional banking. The market for self-service kiosks in the Asia-Pacific region is in the growth stage.
- Moreover in emerging countries like India, major banks such as SBI, PNB, Bank of Baroda, among others are offering kiosk banking for the convenience of the customers.
- For instance, Oxigen made a foray into the much needed financial inclusion sector with India’s largest bank, State Bank of India(SBI) in 2011. Through this partnership, Oxigen delivers mainstream financial services to the bank-excluded masses of India using remote biometric-enabled technology for kiosk banking.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Rising Demand for Self-Service in Several Security-Related Applications.
4.3.2 Magnified Customer Services Offered by Interactive Kiosks
4.3.3 Minimising Overall Operation Cost
4.4 Market Restraints
4.4.1 High Initial Cost of Installation
4.4.2 Increasing Use of Mobile Devices Decreasing the Usage of Self-Service Banking Kiosks
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness – Porter’s Five Force Analysis
4.6.1 Bargaining Power of Buyers/Consumers
4.6.2 Bargaining Power of Suppliers
4.6.3 Threat of New Entrants
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 Single-Function Kiosk
5.1.2 Multi-Function Kiosk
5.1.3 Virtual/Video Teller Machine
5.2 By Offering
5.3 By Distribution
5.4.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.4.3 Asia – Pacific
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.4.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/t69die