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Bank Kiosk Market expected to be worth 826.7 Million USD by 2022


(MoneyNewsWire.Net, April 08, 2017 ) According to this market research report "Bank Kiosk Market by Type (Single-Function, Multi-Function & Virtual/Video Teller Machine), Offering (Hardware, Software, & Services), Distribution (Rural, Semi-Urban, Urban, & Metropolitan), & Geographic Analysis - Forecast to 2022", the bank kiosk market was valued at USD 170.2 Million in 2015 and is expected to reach USD 826.7 Million by 2022, at a CAGR of 24.58% between 2016 and 2022. It registered a shipment of 11,336 units in 2015 and is expected to reach 60,071 units by 2022, at a CAGR of 26.12% during the forecast period

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Factors such as enhanced customer services offered by interactive kiosks and reduction in the overall operational costs are driving the growth of the bank kiosk market.

Hardware component expected to hold the largest market share during the forecast period

The hardware component held the largest share of the bank kiosk market in 2015, followed by services. The hardware components attached with a banking kiosk enable customers to perform banking operations with ease. These components include card readers, card dispensing machines, printers, touchscreens, keyboards, barcode readers, and scanners.

Multi-function kiosk market in bank kiosk expected to grow at the highest CAGR between 2016 and 2022

Combining different functionalities in one kiosk has helped various organizations to reduce their capital expenditure on purchasing separate machines. The less capital expenditure for application development, equipment purchases, installation, and maintenance is the major factor driving banks to adopt multi-function kiosks over single-function kiosks.

Bank kiosk market in APAC likely to grow at a high CAGR during the forecast period

The bank kiosk market in APAC is driven by the rapidly expanding banking and financial sector in several countries such as India and China. Factors such as the banking laws issued by the Reserve Bank of India (RBI) for issuing new bank licenses to promote the rise in number of banks in the country, the incorporation of modern technology in the industry, and initiatives taken by the banks in China to combine technology and finance to cut down labor costs and bring about a more technical approach to banking drive the bank kiosk market in APAC.

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Major players operating in the bank kiosk market include Nautilus Hyosung (Japan), Hitachi-Omron Terminal Solutions (Japan), GRGBanking (China), NCR Corp. (U.S.), Diebold, Inc. (U.S.), Glory Global Solution (International) Limited (U.K.), Auriga SpA (Italy), Oki Electric Industry Co., Ltd. (Japan), Shenzhen Yihua Computer Co., Ltd. (China), Cisco Systems, Inc. (U.S.), Inspur Technologies Co., Ltd (China), and KAL ATM Software (U.K.).

About MarketsandMarkets

MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

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