Rising Popularity of Contactless Payment Technology in Cellphones Boosting Growth in the Global Interactive Kiosk Market: Technavio Report

 

  • The key vendors in the global interactive kiosk market 2015-2019 are Diebold Inc., IBM Corp., KIOSK Information Systems Inc., NCR Corp., and Slabb Inc.

London, 7 July 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global interactive kiosk market 2015-2019. The increasing usage of interactive kiosks on mobile devices by consumers is a key trend observed in this market. These interactive kiosks have the same interface as the physical kiosks and will be able to interact with multiple customers at the same time. Vendor earnings from this application will be dependent on the mobile devices that use this software, ads displayed by the application, and the kiosk software. The global interactive kiosk market is expected to grow at a CAGR of 11.40% during the forecast period of 2014-2019.

Technological innovations pertaining to the usage of kiosks in the retail and entertainment industries drive the prospects of growth in this market. Kiosks help in reducing the cost for labor and are highly cost efficient. The increasing usage of kiosks in places like airports, retail outlets, and supermarkets also contribute towards the growth of this market.  

“Physical interactive kiosks are equipped with contactless readers through which they can identify the users as and when they come within their range. The customers can then initiate and successfully complete the payment procedure by authenticating the process through the biometric system on their phone,” says Faisal Ghaus, Vice President of Technavio Research.

“Another method by which this technology can be used is by entering the PIN in the kiosks once they detect the user device within their range. Apple and Google are the pioneers of this technology, which is expected to drive the growth of the global interactive kiosk market in the future.”

To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance. 

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