Overview and Scope
A retail interactive kiosk is a self-service terminal in retail environments, featuring interactive touchscreens for customer engagement. These kiosks offer services such as product information lookups, self-checkouts, and virtual try-ons. They aim to enhance the customer experience, improve efficiency, and drive sales in retail stores.
Sizing and Forecast
The retail interactive kiosk market size has grown rapidly in recent years. It will grow from $5.78 billion in 2023 to $6.40 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%. The growth in the historic period can be attributed to improvement in customer experience, efficiency and cost reduction, data collection and analytics, brand differentiation and expansion of omni-channel retail.
The retail interactive kiosk market size is expected to see rapid growth in the next few years. It will grow to $9.45 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to integration with ai and machine learning, contactless and hygienic solutions, enhanced personalization, augmented reality (AR) and virtual try-on and expanded use cases beyond retail. Major trends in the forecast period include mobile integration, modular and customizable solutions, cloud-based management, sustainability and eco-friendly design and interactive content and gamification.
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Segmentation & Regional Insights
The retail interactive kiosk market covered in this report is segmented –
1) By Type: Informational Kiosks, Interactive content Kiosks, Wayfinding Kiosks, Product Promotion Kiosks, Vending Kiosks, Other Type
2) By Component: Hardware, Software, Services
3) By Technology: Touch-Based Kiosks, Gesture-Based Kiosks, Voice-Activated Kiosks
North America was the largest region in the retail interactive kiosk market in 2023. The regions covered in the retail interactive kiosk market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing demand for the retail sector is expected to propel the growth of the retail interactive kiosk market going forward. The retail sector is the segment of the economy that encompasses businesses selling goods and services to consumers for personal or household use. This demand arises from changing consumer preferences, population growth, lifestyle changes, and disposable income. Retail interactive kiosks are used in the retail sector to enhance the customer experience, improve operational efficiency, drive sales, and gain valuable insights into consumer behavior. For instance, according to the National Retail Federation, a US-based retail trade association, annual retail sales in the USA increased from $4.61 trillion in 2021 to $4.94 trillion in 2022, indicating an increase of 7%. Therefore, the growing demand for the retail sector is driving the growth of the retail interactive kiosk market.
Key Industry Players
Major companies operating in the retail interactive kiosk market are Panasonic Corporation, International Business Machines Corporation (IBM), NCR Voyix Corporation, Diebold Nixdorf Incorporated, Advantech Co Ltd., Elo Touch Solutions Inc., Acrelec Group, ZIVELO LLC, Advanced Kiosks LLC, Source Technologies LLC, Frank Mayer And Associates Inc., KIOSK Information Systems, Meridian Kiosks LLC, MetroClick Inc., Olea Kiosks Inc., Peerless Industries Inc. (Peerless-AV), REDYREF Interactive Kiosks Inc., VeriFone Inc., Pyramid Computer GmbH, Lilitab LLC, SlabbKiosks, DynaTouch Corporation of America, Kiosk Group Inc., OptConnect Holdings LLC, Storm Interface Ltd., Protouch Manufacturing Ltd., Kiosk Solutions Magazine
The retail interactive kiosk market report table of contents includes:
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