Bank Kiosk Market worth $1,311 million by 2026

The report “Bank Kiosk Market with COVID-19 Impact Analysis by Type (Single-function Kiosk, Multi-function Kiosk, Virtual/Video Teller Machine), Location (Indoor, Outdoor), Offering, Distribution and Geography – Global Forecast to 2026″, was valued at USD 744 million in 2021 and is expected to reach USD 1,311 million by 2026; it is anticipated to grow at a CAGR of 12.0% during the forecast period. The factors such as rising demand for self-service in banking and financial services applications, enhanced customer services offered by banking kiosks, and reduction in overall operational costs are the key factors driving the bank kiosk market.

Multi-function kiosks to account for the largest share of bank kiosk market in 2020

Based on the type, the bank kiosk market has been divided into single-function kiosk, multi-function kiosk, and virtual/video teller machine. Multi-function Kiosk held the highest share in 2020. Factors such as less capital expenditure in application development, equipment purchases, installation, and maintenance are pushing the banks to adopt multi-function kiosks over single-function kiosks thereby, driving the growth of bank kiosk market.

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Indoor segment to account for the largest share of bank kiosk market during the forecast period

On the basis of location, the bank kiosk market is categorized into indoor and outdoor. Indoor bank kiosks are used in places with limited space and can help attract customers if placed in a crowded place. The growing interest in automation and self-service technologies in the banking and financial service sector is contributing to the larger share of indoor kiosks.

APAC is leading the bank kiosk market in 2020

APAC held the largest share in the bank kiosk market in 2020. The key reason behind the growth of the bank kiosk market in APAC is that the governments in APAC countries are making efforts to enhance the development of the fintech industry and provide new, innovative banking solutions. The main aim behind the increased adoption of fintech is to attract international innovators in the market and take banking to the next stage. The deployment of self-service kiosks is also increasing, especially for the population that prefers banking through interactive kiosks than traditional banking.

Some of the key companies operating in the market are NCR Corporation (US), Diebold Nixdorf (US), GLORY LIMITED (Japan), GRGBanking (China), Hyosung TNS Inc. (Japan), KAL ATM Software (Germany), and so on.

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