Bank Kiosk Market Report (2021-2031) | The Insight Partners
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.
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MARKET PLAYERS
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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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.
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.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
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Segment Covered
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![Regional Scope](https://www.theinsightpartners.com/assets/rdimages/regional_scope.png)
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
![Country Scope](https://www.theinsightpartners.com/assets/rdimages/country_scope.png)
Country Scope
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to country scope.
Frequently Asked Questions
The global bank kiosk market was estimated to grow at a CAGR of 15.2% during 2023 - 2031.
Growing consumer demand for self-service banking and the need for financial inclusion are the major factors that propel the global Bank Kiosk market.
Technological advancements and reduced operational cost is expected to play a substantial role in the global bank kiosk market during the forecast period.
Asia Pacific is anticipated to grow with a high growth rate during the forecast period.
The major players holding majority shares are NCR Corporation, Diebold Nixdorf Incorporated, Nautilus Hyosung America, Inc., OKI Electric Industry Co. Ltd. Euronet, and Worldwide, Inc.
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Bank Kiosk Market - By Type
1.3.2 Bank Kiosk Market - By Components
1.3.3 Bank Kiosk Market - By Region
1.3.3.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. BANK KIOSK MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. BANK KIOSK MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. BANK KIOSK MARKET - GLOBAL MARKET ANALYSIS
6.1. BANK KIOSK - GLOBAL MARKET OVERVIEW
6.2. BANK KIOSK - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. BANK KIOSK MARKET - REVENUE AND FORECASTS TO 2028 - TYPE
7.1. OVERVIEW
7.2. TYPE MARKET FORECASTS AND ANALYSIS
7.3. SINGLE-FUNCTION KIOSK
7.3.1. Overview
7.3.2. Single-Function Kiosk Market Forecast and Analysis
7.4. MULTI-FUNCTION KIOSK
7.4.1. Overview
7.4.2. Multi-Function Kiosk Market Forecast and Analysis
7.5. VIRTUAL/VIDEO TELLER MACHINE
7.5.1. Overview
7.5.2. Virtual/Video Teller Machine Market Forecast and Analysis
8. BANK KIOSK MARKET - REVENUE AND FORECASTS TO 2028 - COMPONENTS
8.1. OVERVIEW
8.2. COMPONENTS MARKET FORECASTS AND ANALYSIS
8.3. HARDWARE
8.3.1. Overview
8.3.2. Hardware Market Forecast and Analysis
8.4. SOFTWARE
8.4.1. Overview
8.4.2. Software Market Forecast and Analysis
8.5. SERVICES
8.5.1. Overview
8.5.2. Services Market Forecast and Analysis
9. BANK KIOSK MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Bank Kiosk Market Overview
9.1.2 North America Bank Kiosk Market Forecasts and Analysis
9.1.3 North America Bank Kiosk Market Forecasts and Analysis - By Type
9.1.4 North America Bank Kiosk Market Forecasts and Analysis - By Components
9.1.5 North America Bank Kiosk Market Forecasts and Analysis - By Countries
9.1.5.1 United States Bank Kiosk Market
9.1.5.1.1 United States Bank Kiosk Market by Type
9.1.5.1.2 United States Bank Kiosk Market by Components
9.1.5.2 Canada Bank Kiosk Market
9.1.5.2.1 Canada Bank Kiosk Market by Type
9.1.5.2.2 Canada Bank Kiosk Market by Components
9.1.5.3 Mexico Bank Kiosk Market
9.1.5.3.1 Mexico Bank Kiosk Market by Type
9.1.5.3.2 Mexico Bank Kiosk Market by Components
9.2. EUROPE
9.2.1 Europe Bank Kiosk Market Overview
9.2.2 Europe Bank Kiosk Market Forecasts and Analysis
9.2.3 Europe Bank Kiosk Market Forecasts and Analysis - By Type
9.2.4 Europe Bank Kiosk Market Forecasts and Analysis - By Components
9.2.5 Europe Bank Kiosk Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Bank Kiosk Market
9.2.5.1.1 Germany Bank Kiosk Market by Type
9.2.5.1.2 Germany Bank Kiosk Market by Components
9.2.5.2 France Bank Kiosk Market
9.2.5.2.1 France Bank Kiosk Market by Type
9.2.5.2.2 France Bank Kiosk Market by Components
9.2.5.3 Italy Bank Kiosk Market
9.2.5.3.1 Italy Bank Kiosk Market by Type
9.2.5.3.2 Italy Bank Kiosk Market by Components
9.2.5.4 United Kingdom Bank Kiosk Market
9.2.5.4.1 United Kingdom Bank Kiosk Market by Type
9.2.5.4.2 United Kingdom Bank Kiosk Market by Components
9.2.5.5 Russia Bank Kiosk Market
9.2.5.5.1 Russia Bank Kiosk Market by Type
9.2.5.5.2 Russia Bank Kiosk Market by Components
9.2.5.6 Rest of Europe Bank Kiosk Market
9.2.5.6.1 Rest of Europe Bank Kiosk Market by Type
9.2.5.6.2 Rest of Europe Bank Kiosk Market by Components
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Bank Kiosk Market Overview
9.3.2 Asia-Pacific Bank Kiosk Market Forecasts and Analysis
9.3.3 Asia-Pacific Bank Kiosk Market Forecasts and Analysis - By Type
9.3.4 Asia-Pacific Bank Kiosk Market Forecasts and Analysis - By Components
9.3.5 Asia-Pacific Bank Kiosk Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Bank Kiosk Market
9.3.5.1.1 Australia Bank Kiosk Market by Type
9.3.5.1.2 Australia Bank Kiosk Market by Components
9.3.5.2 China Bank Kiosk Market
9.3.5.2.1 China Bank Kiosk Market by Type
9.3.5.2.2 China Bank Kiosk Market by Components
9.3.5.3 India Bank Kiosk Market
9.3.5.3.1 India Bank Kiosk Market by Type
9.3.5.3.2 India Bank Kiosk Market by Components
9.3.5.4 Japan Bank Kiosk Market
9.3.5.4.1 Japan Bank Kiosk Market by Type
9.3.5.4.2 Japan Bank Kiosk Market by Components
9.3.5.5 South Korea Bank Kiosk Market
9.3.5.5.1 South Korea Bank Kiosk Market by Type
9.3.5.5.2 South Korea Bank Kiosk Market by Components
9.3.5.6 Rest of Asia-Pacific Bank Kiosk Market
9.3.5.6.1 Rest of Asia-Pacific Bank Kiosk Market by Type
9.3.5.6.2 Rest of Asia-Pacific Bank Kiosk Market by Components
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Bank Kiosk Market Overview
9.4.2 Middle East and Africa Bank Kiosk Market Forecasts and Analysis
9.4.3 Middle East and Africa Bank Kiosk Market Forecasts and Analysis - By Type
9.4.4 Middle East and Africa Bank Kiosk Market Forecasts and Analysis - By Components
9.4.5 Middle East and Africa Bank Kiosk Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Bank Kiosk Market
9.4.5.1.1 South Africa Bank Kiosk Market by Type
9.4.5.1.2 South Africa Bank Kiosk Market by Components
9.4.5.2 Saudi Arabia Bank Kiosk Market
9.4.5.2.1 Saudi Arabia Bank Kiosk Market by Type
9.4.5.2.2 Saudi Arabia Bank Kiosk Market by Components
9.4.5.3 U.A.E Bank Kiosk Market
9.4.5.3.1 U.A.E Bank Kiosk Market by Type
9.4.5.3.2 U.A.E Bank Kiosk Market by Components
9.4.5.4 Rest of Middle East and Africa Bank Kiosk Market
9.4.5.4.1 Rest of Middle East and Africa Bank Kiosk Market by Type
9.4.5.4.2 Rest of Middle East and Africa Bank Kiosk Market by Components
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Bank Kiosk Market Overview
9.5.2 South and Central America Bank Kiosk Market Forecasts and Analysis
9.5.3 South and Central America Bank Kiosk Market Forecasts and Analysis - By Type
9.5.4 South and Central America Bank Kiosk Market Forecasts and Analysis - By Components
9.5.5 South and Central America Bank Kiosk Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Bank Kiosk Market
9.5.5.1.1 Brazil Bank Kiosk Market by Type
9.5.5.1.2 Brazil Bank Kiosk Market by Components
9.5.5.2 Argentina Bank Kiosk Market
9.5.5.2.1 Argentina Bank Kiosk Market by Type
9.5.5.2.2 Argentina Bank Kiosk Market by Components
9.5.5.3 Rest of South and Central America Bank Kiosk Market
9.5.5.3.1 Rest of South and Central America Bank Kiosk Market by Type
9.5.5.3.2 Rest of South and Central America Bank Kiosk Market by Components
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. BANK KIOSK MARKET, KEY COMPANY PROFILES
11.1. AURIGA SPA
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. CISCO SYSTEMS, INC.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. DIEBOLD, INC.
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. GLORY LIMITED
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. GRG BANKING
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. HITACHI-OMRON TERMINAL SOLUTIONS, CORP.
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. KORALA ASSOCIATES LIMITED
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. NCR CORPORATION
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. OKI ELECTRIC INDUSTRY CO., LTD.
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. SHENZHEN YI OF COMPUTER CO., LTD
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies
1. Auriga SPA
2. Cisco Systems, Inc.
3. Diebold, Inc.
4. Glory Limited
5. GRG Banking
6. Hitachi-Omron Terminal Solutions, Corp.
7. Korala Associates Limited
8. NCR Corporation
9. OKI Electric Industry Co., Ltd.
10. Shenzhen Yi of Computer Co., Ltd
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.