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Interactive Kiosk Market | Adoption of Smart Parking Solutions to Boost the Market Growth | Technavio


The global interactive kiosk market size is poised to grow by USD 4.79 billion during 2020-2024, progressing at a CAGR of almost 4% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

Rapid urbanization and the increasing disposable income of consumers in developing countries have driven sales of automobiles. The increasing density of vehicles on roads is creating traffic congestion, which is translating to scarce parking slots and loss of time in finding them. This, in turn, is resulting in the loss of productive working hours. As a result, many private and public traffic management operators are adopting smart parking solutions. For instance, the University of San Diego in the US recently partnered with a kiosk solutions provider to enable people to pay parking charges from their mobile phones. With the growing adoption of smart parking solutions across the world, the demand for interactive self-service kiosks will increase. This will drive the growth of the global interactive kiosk market size.

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Report Highlights:

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Integration of Advanced Technologies will be a Key Market Trend

Vendors in the market are consistently developing new products to enhance customer experience and gain a competitive edge. They are integrating technologies such as artificial intelligence and facial recognition in self-service kiosks. This helps kiosk systems in understanding consumer data and develop a smarter system with voice assistant and customer order prediction. Though the use of such technologies is in the early stages, several market vendors have deployed interactive kiosks backed with AI and facial recognition in multiple pilot projects. Aramark Corp., a US-based food, facilities, and uniform service provider, recently deployed AI-powered self-service checkout kiosks at all of its major baseball stadiums. These checkout systems enable multiple users to place items on the unit and scan all items at once for payment. This has helped the company to boost transaction speeds and increase sales. The integration of advanced technologies is one of the significant interactive kiosk market trends influencing growth. As a result of these factors, the market will grow during the forecast period.

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Interactive Kiosk Market 2020-2024: Key Highlights

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Executive Summary

Market Landscape

Market Sizing

Five Forces Analysis

Market Segmentation by End-user

Customer landscape

Geographic Landscape

Drivers, Challenges, and Trends

Vendor Landscape

Vendor Analysis

Appendix

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