Global Bank Kiosk Market to Hit $2.2 Billion by 2031: Allied Market Research

Lucrative demand for multi-function kiosk, remote management, and technological breakthroughs drives the growth of the bank kiosk market. The COVID-19 pandemic provided new opportunities for product launches into the market. The software segment accounted for the largest share of the market in 2021. Asia-Pacific contributed toward the highest market share in 2021.

/EIN News/ -- Portland, OR, July 07, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global bank kiosk market accrued $756.96 million in 2021, and is predicted to garner $2.2 billion by 2031, registering a CAGR of 11.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

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Lucrative demand for multi-function kiosk, remote management, and technological breakthroughs drives the growth of the bank kiosk market. Moreover, an increment in demand for self-service in banking and financial services and improved consumer services provided by bank kiosks will spearhead the demand for bank kiosks. However, a rise in the use of smartphones for banking services and high costs of installation inhibit the market growth. Nevertheless, the surge in investments by banking firms for deploying bank kiosks in the Asia-Pacific region will open new opportunities for growth for the market.

COVID-19 Scenario

• The bank kiosk industry witnessed an increase in investments in the bank kiosk technology from major players of the industry during the COVID-19 pandemic, due to a surge in acceptance of contactless payment systems.
• The COVID-19 pandemic provided new opportunities for product launches into the market.
  
  

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The report offers detailed segmentation of the global bank kiosk market based on component, type, distribution, and region.

Based on the component, the software segment accounted for the largest share of the market in 2021, contributing to around two-fifths of the overall share of the global bank kiosk market. However, the services segment is predicted to record the highest CAGR of 12.9% from 2022 to 2031.

Based on the type, the multi-function kiosk segment accounted for the largest share of the market in 2021, contributing to more than two-fifths of the overall share of the global bank kiosk market. However, the virtual video teller machine segment is anticipated to record the highest CAGR of 12.8% from 2022 to 2031.

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Based on the region, Asia-Pacific contributed toward the highest market share in 2021, accounting for more than two-fifths of the market. However, the LAMEA bank kiosk market is set to register the fastest CAGR of 12.8% from 2022 to 2031.

Key players profiled in the global bank kiosk market research report are Auriga Spa, Oki Electric Industry Co., Ltd., Cisco Systems, Inc., Diebold Nixdorf, Incorporated, NCR Corporation, Glory Ltd., GRGBanking, KAL ATM Software GmbH, Hitachi Channel Solutions, Corp., and Star Micronics Co., Ltd.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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