Global Multi-function Kiosk Market: Increased Demand from Industry to Spell Growth for Market, Says IGR

 The Infinium Global Research analyzes the Multi-function Kiosk Market over the period of 2020 to 2026. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in global multi-function kiosk market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of multi-function kiosk. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the multi-function kiosk market during the period. The global multi-function kiosk market is projected to grow at a CAGR of 24.5% over the forecast period of 2020-2026.

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Rising Demand for Self-Service in Several Security-Related Applications in Financial Sectors is Majorly Driving the Global Multi-Function Kiosk Market

Multi-function kiosks offer the added benefit of reducing labor costs and position the brand as technologically superior. It also allowing management to track and measure operations metrics across branch locations as well as providing them with the information they need to make more informed decisions and improve the experience even further. The rising demand for self-service in several security-related applications in financial sectors is majorly driving the global multi-function kiosk market. Multi-function kiosk system helps in diverse bank processes such as cheque deposit (CTS interface), cash deposit automation (single/bulk), bill payment, statement printing, grievance management, information service, application processing and tracking, and internet banking. However, the increasing use of mobile devices reducing the usage of self-service banking kiosks is hampering the market growth.

Moreover, the Introduction of NFC-Based contactless payments in the banking sector in the APAC region is providing growth opportunities to the market players.  The current concern over the spread of coronavirus is expected to have a moderate impact on the multi-function kiosk market. Banks certainly have their hands full in the light of the novel coronavirus outbreak (COVID-19). As the virus continues to spread around the world, borrowers and businesses face job losses, slowed sales, and declining profits. However, the World Health Organization (WHO) has advised people to use contactless payment and avoid handling banknotes as much as possible which positively impacting the global market.

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Asia Pacific is the Largest and the Fastest-Growing Region in the Multi-Function Kiosk Market

Among the geographies, Asia Pacific is the largest and the fastest-growing region in the multi-function kiosk market. The high adoption rate of advanced technologies and increasing digitalization are driving the growth of the multi-function kiosk market in this region. In addition, high investments from multi-function kiosk solutions, rising disposable income are some factors that contribute to the growth of the multi-function kiosk market in the Asia Pacific region. On the other side, North America is the second-largest market for multi-function kiosks as countries such as the U.S. and Canada are the front-runners of the adoption of new technology in the banking sector. These nations have a major dominance, with sustainable and well-established economies, which empower them to intensely invest in R&D activities, thereby contributing to the development of innovative technologies in the multi-function kiosk market.

Multi-Function Kiosk Market: Segmentation

The report on the global multi-function kiosk market covers segments such as component, types, and applications. On the basis of component, the sub-markets include hardware and software. On the basis of types, the sub-markets include self-service kiosks, information kiosks, internet kiosks, and others. On the basis of application, the sub-markets include bill payment, grievance management, information services, and others.

Multi-Function Kiosk Market: Competitive Analysis

The report provides profiles of the companies in the market such as AURIONPRO, Aplab Limited, KIOSK Information Systems, Albertsons International Private Limited, Cyber Kiosk Solutions, Inc., GLUCK INTERNATIONAL LLP, Forbes Technosys Ltd., Infinitas Technology Solutions Pvt. Ltd., C-Edge Technologies, and LamasaTech Ltd.

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