Bank Kiosk Market Trends and Growth 2031

The bank kiosk market size is expected to grow at a CAGR of 15.2% from 2023 to 2031. After ATMs, bank kiosks are a relatively new development in banking technology that offers a variety of additional services. Several features that distinguish a kiosk banking outlet from an automated teller machine (ATM) include account inquiry, making checkbook requests, checking account balances, printing mini statements, and a customer support tool, where customers can clarify queries from a help desk agent through chat process. This feature helps the expansion of the global bank kiosk businesses.

Bank Kiosk Market Analysis

Technological advancements and customer demand for self-service banking drive the market growth. A bank kiosk is a self-service machine that delivers numerous banking services to customers without the requirement for human interaction. This market is expected to continue to grow during the forecast period. The implication of kiosks lies in their capability to offer customers accessibility, convenience, and cost-effectiveness. With the increasing demand for convenient and fast banking services, kiosks are expected to remain a critical part of the banking business.

Bank Kiosk Market Overview

• The term kiosk means Kommunikasjon Integrert Offentlig Service Kontor. In terms of banking, a kiosk is a service announced to cater to the banking requirements of low-income sections of society by bringing general banking services near their area.
• Kiosks act as a touchpoint for individuals and banks. Additionally, bank kiosks are used to bridge the gap and bring banking services for everyone, which boosts the market growth. Furthermore, numerous other types of banking kiosks, such as cheque deposit kiosks, pgb kiosk banking, union bank kiosks, and others, are also supplementing the market growth.

REGIONAL FRAMEWORK

Bank Kiosk Market Driver and Opportunities

Rise in Demand for Bank Kiosks to Drive the Bank Kiosk Market

• The increase in demand for self-service security applications worldwide acts as one of the major factors driving the bank kiosks market. Various advantages offered by the services, such as enhancements in customer service with a decline in operational costs, have a positive impact on the market.
• The rise in the usage of bank kiosks as one of the remote banking channels further influences the market. These channels offer additional convenience to customers and secure service costs to the bank. These banks save time spent by customers in the queues while transferring cash and depositing funds.

Rise in Demand for Self-Service in Financial Services and Banking to Create Lucrative Market Opportunities

• The demand for self-service devices has increased in recent years, owing to features such as interactive touchscreen displays, cash handling, and core integrations to execute transactions, which fuel market growth. Furthermore, it enables financial institutions to transition from the teller model to the universal banker model, hence accelerating market growth.
• Furthermore, it contributes to the transformation of businesses into more customer-centric ones by addressing client needs and boosting transaction quality time without interruptions.
• It also aids in serving clients faster and providing more comfortable ways to conduct transactions, hence increasing industry growth. 

Bank Kiosk Market Report Analysis

Bank Kiosk Market

• 
  CAGR (2023 - 2031)

  XX%
• Market Size 2023
  US$ XX Million
• Market Size 2031
  US$ XX Million

Report Coverage

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope

• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis

• Industry landscape and competition analysis & recent developments
• Detailed company profiles

• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments

Key Players

• Auriga SPA
• Cisco Systems, Inc.
• Diebold, Inc.
• Glory Limited
• GRG Banking
• Hitachi-Omron Terminal Solutions, Corp.
• Korala Associates Limited
• NCR Corporation
• OKI Electric Industry Co., Ltd.

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

By Type

• Single-Function Kiosk
• Multi-Function Kiosk
• Virtual/Video Teller Machine

By Components

• Hardware
• Software
• Services

MARKET PLAYERS

Bank Kiosk Market Report Segmentation Analysis

The key segments that contributed to the derivation of the Bank Kiosk market analysis are component, deployment, location, application, and end-user.

• Based on component, the market is segmented into software, hardware, and services. Reducing costs, enhancing customer experience, increasing efficiency, following regulations, and leveraging technology developments are driving the software segment of this market.
• Based on deployment, the market is segmented into rural, urban, and metropolitan. Increasing the necessity to have greater accessibility and enhanced reach by the customers living in the metropolitan area, the acceptance of bank kiosk booths has amplified in local shops or retail points, which is driving the growth.
• Based on location, the market is segmented into on-site and off-site. Based on application, the market is segmented into Automated Teller Machines (ATMs), Video teller Machines (VTMs), and Self-service kiosks.

Bank Kiosk Market Share Analysis By Geography

• The scope of the Bank Kiosk market is primarily divided into five regions - North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is expected to hold principal share in 2023.
• Well-developed infrastructure and large spending on extensive research and development (R&D) activities are driving the growth of the bank kiosk market.
• The persistent growth of the self-service kiosks and ATMs in line with the rising technological advancements in Canada and the US is also anticipated to drive the bank kiosk market growth industry across North America.

Bank Kiosk Market Report Scope

Bank Kiosk Market Report Coverage & Deliverables

The bank kiosk market forecast is estimated based on various secondary and primary research findings, such as key company publications, association data, and databases. The market report "Bank Kiosk Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering below areas-

• Market size & forecast at global, regional, and country levels for all the key market segments covered under the scope.
• Market dynamics such as drivers, restraints, and key opportunities.
• Key future trends.
• Detailed PEST & SWOT analysis
• Global and regional market analysis covering key market trends, key players, regulations, and recent market developments.
• Industry landscape and competition analysis covering market concentration, heat map analysis, key players, and recent developments.
• Detailed company profiles.

Bank Kiosk Market Report Scope