The global market for bank kiosk is estimated to have significant CAGR of around 4.6% during the forecast period. The growth of the bank kiosk market is driven by factors, such as improved customer services through interactive kiosks and reduced operational costs. Bank kiosks are initiatives undertaken by various banks to provide banking services in different villages and remote areas, where there is no availability of bank branches in the locality. This system enables a person to avail all the banking services and transactions without visiting a banking outlet. The banking kiosks offered in weaker sections and low-income groups have enhanced the banking services to operate at a cost-effective price. Moreover, the use of these interactive machines is increasing in the BFSI sector due to digitization in the banking services, focus on improving customer experience and brand reinforcement. The  services offered in the banking sector, such as ATMs, passbook printing machines, and cash deposit machines are used daily by the consumers to save time and effort which are contributing to the growth of the market. The growing demand of contact less payments in banking sector further provide significant opportunity to the market. 

 Segmental Outlook  

The global bank kiosk  market is segmented based on product type and distribution. Based on the product type, the market is further classified into hardware including, smart cards readers, printers, keyboard, touchscreens, and software & services. Based on the distribution, the global bank kiosk  market is further segmented into metropolitan, urban and semi-urban, rural. The metropolitan has significant application of bank kiosk due to rising adoption of advanced ATM in metro cities that further contribute in  the segmental share.  

 Global bank kiosk  Market Share by Product Type, 2019(%)

Global bank kiosk  market to be driven by Hardware Segment

Among product type, the hardware segment held a considerable share in the market. The functioning of banking kiosks is made possible by the hardware components such as card dispensing machines, card readers, touchscreens, keyboards, printers, barcode readers, and scanners which enable the customers to perform banking operations. The combination of different features in a kiosk has benefited various organizations to reduce their investment in purchasing separate machines. The lower investment for purchasing this equipment and its installation and maintenance has motivated different banks to adopt multifunctional kiosks. Moreover the  bank kiosk machines such as ATMs, passbook printing machines, and cash deposit machines are used daily by the consumers to save time and effort which are contributing to the growth of the market.

Regional Outlook 

Geographically, the global bank kiosk  market is further classified into North America, Europe, Asia-Pacific and the Rest of the World. Asia-Pacific is estimated to have considerable market growth in the global market during the forecast period. The major countries which will have a significant market share during the forecast period are India, China, and Japan. Additionally, the growth in banking sector in emerging economies, such as China, and India has been witnessing a rise in demand for ATMs, which thereby is facilitating the growth of interactive kiosks in the Asia-Pacific.  

Global bank kiosk  Market Growth, by Region 2020-2026

North America to hold a considerable share in the global bank kiosk  market

Geographically, North America is projected to hold a significant market share in the global bank kiosk  market. Major economies which are anticipated to contribute to the North America bank kiosk  market are the US and Canada. The number of non-cash transactions is significantly high in North America. Due to increasing demand, the bank kiosk companies such as NCR Corp. is increasing its production of interactive, self-service kiosks and ATMs to meet the increasing demand. The rising adoption of digital banking services, which offers new tools to consumers and banks for managing money and change the customer-bank relationship. Kiosk banking assists in addressing some challenges consumers face, including the decline in physical bank branch locations or the need for timely access to account payment and balance information. A consortium of some of the largest US banks has been working on a mechanism to transfer funds quickly and directly between bank accounts. 

Market Players Outlook

The key players in the bank kiosk  market contributing significantly by providing different types of products and increasing their geographical presence across the globe. The key players of the market include Advantech Co., Ltd., Cisco Systems, Inc., Glory Global Solutions (International) Ltd., Hitachi, Ltd., NCR Corp., Nautilus Hyosung Inc., Oki Electric Industry Co., Ltd.  and others. These market players adopt various strategies such as product launch, partnerships, collaborations, mergers, and acquisitions to sustain a strong position in the market. 

The Report Covers

• Market value data analysis of 2019 and forecast to 2026.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global bank kiosk  market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.