There has been significant growth in the bank kiosk market during the past few years. Some of the prominent factors to drive sales growth in the industry include, for instance, rapid technological advancements. In addition to this, the emergence of the NFC (near field communication) technology along with its incorporation with innumerable payment options across the banking sector is opening growth avenues in the bank kiosk market in the forthcoming years.
Bank Kiosk Market: Industry Segmentation
Based on type, the bank kiosk market has been classified into virtual video teller machines, multi-function kiosks, and single-function kiosks. Out of these bank kiosk market sections, the multi-functional kiosk vertical has been estimated to hold a noteworthy share in the global market in the foreseeable years. Combining numerous functionalities in a single machine is likely to help the organization to cut down the expenditure on maintenance, installation, machine purchases, and application development. So, these factors are predicted to work as largest revenue generators in the bank kiosk market in the following years.
On the basis of components, the bank kiosk market is bifurcated into services, hardware, and software. Among these, the hardware vertical is likely to hold the maximum share in the bank kiosk market and includes barcode readers and scanners, card dispensing machines, touchscreens, keyboards, printers, and card readers. Further, in the software section, remote device management, content management software, application development platform, and multivendor software are included. The spiraling requirement for independent software purchases in order to develop technologically advanced interactive kiosks has been projected to enable this section to gain noteworthy traction in the bank kiosk market.
The bank kiosk market has been divided into urban, rural, and semi-urban verticals on the basis of distribution. The increased knowledge among the urban population in order to use the bank kiosk and hefty demand for the self-service machines have been anticipated to contribute to the sales avenues in the bank kiosk market.