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Bank Kiosk Market is estimated to surpass $1.2 billion mark by 2026 growing at an estimated CAGR of more than 20.4% during the forecast period 2021 to 2026.
HYDERABAD, TELANGANA, INDIA, September 27, 2022 /
EINPresswire.com/ --
Bank Kiosk Market is estimated to surpass $1.2 billion mark by 2026 growing at an estimated CAGR of more than 20.4% during the forecast period 2021 to 2026. Bank Kiosks are computer devices designed to help people in performing specific tasks and services on their own like paying bills, account checking, bank transactions and others. Many countries are focusing on new innovations and expansions are being carried out through the smart cities and digitization project, which would help to increase the demand for bank kiosk systems in the coming years.
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Key takeaways:
This IndustryARC report on the Bank Kiosk market highlights the following areas -
1. The contactless transaction option helps clients to complete transactions easily, conveniently, and safely.
2. Banks normally procure complete solutions that combine the transaction application with a middleware platform allowing it to operate on different manufacturers’ terminals.
3. Bank Kiosks eliminate the need for person-to-person contact, Help in maintaining user confidence and specialized kiosks to prevent transmission of the virus and spread of COVID'19.
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Segmental Analysis:
1. The increasing complexity of self-service banking channels has given rise to new opportunities for setting up separate sophisticated software in the kiosk. Thus, there is a growing market for the software applications of bank kiosk. Providers of ATM software comprise both manufacturers and independent companies.
2. APAC held the largest share in the Bank Kiosk market in 2020 up to 33%. This can be attributed to rapid urbanization and consumer preference for convenience. The contactless transaction option helps clients to complete transactions easily, conveniently, and safely.
3. While single function Bank Kiosks dominate the market, multi function bank kiosks will play a significantly bigger role during the forecast period. The bill payment and other transactions in the ATM machines are quick and safe.
Competitive landscape:
The top 5 players in the Bank Kiosk industry are:
1. Diebold Nixdorf
2. SLABB
3. NCR
4. Embross
5. Kiosk Information System
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