Bank Kiosk Market

Popular Inc. (U.S) & Diebold, Inc. (U.S.) also helped Popular Inc. (U.S.) are leading players in the Bank Kiosk Market

The bank kiosk market is driven by several factors such as the rising demand for self service in several security-related applications in financial sectors, enhanced customer services offered by interactive kiosks, reduction in the overall operational costs, and increased adoption in various developing countries such as India, China, and Japan, among others

The bank kiosk market is expected to be worth USD 826.7 Million by 2022, at a CAGR of 24.58% between 2016 and 2022; it registered a shipment of 11,336 units in 2015 and is expected to reach 60,071 units by 2022, at a CAGR of 26.12% during the forecast period.
The APAC region has the highest demand for bank kiosks. The market in the region is driven by factors such as banking laws issued by the Reserve Bank of India (RBI) for issuing new bank licenses to promote the rise in the number of banks in the country, the incorporation of modern technology in the industry, and initiatives taken by banks in China to combine technology and finance to cut down labor costs and bring about a more technical approach to banking.

The major opportunity for this market is the introduction of NFC-based contactless payments in the banking sector and the increasing investments by companies in Asia-Pacific. Some of the major players operating in the bank kiosk market include Nautilus Hyosung (Japan), Hitachi-Omron Terminal Solutions (Japan), GRGBanking (China), NCR Corp. (U.S.), Diebold, Inc. (U.S.), Glory Global Solution (International) Limited (U.K.), Auriga SpA (Italy), Oki Electric Industry Co., Ltd. (Japan), Shenzhen Yihua Computer Co., Ltd. (China), Cisco Systems, Inc. (U.S.), Inspur Technologies Co., Ltd (China), and KAL ATM Software (U.K.).

Top 2 players in the bank kiosk market:

NCR Corporation aims to strengthen its market presence with a wide range of strategic initiatives such as new product developments, innovations, expansions, and agreements. In September 2016, NCR Corporation launched a cloud-based developer portal, enabling financial institutions to build their own innovative digital banking applications to help meet the unique financial management needs of their customers. In August 2015, the company launched a new set of next-generation consulting services for the financial services, retail, and hospitality industries. Such initiatives enable the company to expand its products worldwide to cater to a wide range of customer requirements.

Diebold, Inc. focuses mainly on inorganic strategies such as partnerships and agreements to sustain in the global bank kiosk market. For instance, in October 2016, Popular Inc. (U.S) signed a partnership with Diebold, Inc. (U.S) to pilot advanced predictive maintenance analytics to increase operational efficiency and broaden consumer touch point visibility. The analytics program of Diebold, Inc. (U.S.) also helped Popular Inc. (U.S.) to have a complete view of its self-service channel and improve the uptime of automated teller machines by anticipating maintenance needs. By focusing on agreements, the company would be able to create many new opportunities.

The stakeholders involved in the value chain of this market include raw material and equipment suppliers, original equipment manufacturers (OEMs), kiosk manufacturers, kiosk software providers, printer providers, display providers, audio/video conference system providers, kiosk system integrators, retailers and vendors, distributors, suppliers, and exporters, research organizations, forums, alliances, banking associations, and banks and other financial institutions.

Related Reports:

Bank Kiosk Market by Type (Single-Function, Multi-Function & Virtual/Video Teller Machine), Offering (Hardware, Software, & Services), Distribution (Rural, Semi-Urban, Urban, & Metropolitan), & Geographic Analysis - Forecast to 2022

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Report Code
SE 4865
Published ON
Jan, 2017
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