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Voice-based Self-service Kiosk Market: China Currently Holds 30% of the Market Share – Fact.MR Study

Self-service Kiosk Market

During the assessment period, Fact.MR predicts that demand for Voice-based Self-service Kiosk will grow at a CAGR of 11% in terms of value. By the conclusion of the projection year, the market for Voice-based Self-service Kiosk is expected to exceed US$ 79.5 billion, according to the report.

The demand for Voice-based Self-service Kiosk grew at a CAGR of 7% from 2017 to 2021. There was a greater reliance on cashless and no-contact payments and purchases at the commencement of COVID-19. This has resulted in a major expansion of the market’s possibilities since 2020. Customers are looking for alternatives such as voice-based Voice-based Self-service Kiosk that offer the same capabilities and can assist considerably minimise the spread of the infection due to their concern of getting the virus.

Customers would make queries in a natural and conversational manner if a voice-based self-service kiosk was implemented. Customers will have a better experience with voice assistants that can take orders and process payments in a calm manner. Furthermore, recent breakthroughs in the field of artificial intelligence (AI) are expanding the possibilities for voice-based self-service kiosk operations.

Self-service Kiosk Market: Key Takeaways

  • In 2022, the global self-service kiosk industry is expected to be worth US$ 28 billion.
  • Retail Voice-based Self-service Kiosk will account for 55 percent of sales until 2032, according to product.
  • Non-cash payment kiosks are expected to grow at a CAGR of 12% until 2032.
  • Voice-based Self-service Kiosk for the banking and financial services industry will account for 30% of deployment, with the United States remaining the largest market, with a market share of 40% from 2022 to 2032.
  • China will be the most important market in Asia, accounting for 3/10th of total market sales.

“A growing preference for contactless payments and quick shopping experiences is paving the way for the introduction of Voice-based Self-service Kiosk. According to a Fact.MR analyst, “the market is anticipated to acquire substantial traction in the future years” due to greater emphasis on AI and innovation.

Which Region Offers Great Potential for Self-Service Kiosk Installation?

Voice-based Self-service Kiosk are now dominated by Asia Pacific, with China accounting for over 30% of the region’s market share. The region’s key drivers include growing urbanisation and client preference for tailored operations via Voice-based Self-service Kiosk. Furthermore, the growing acceptance of convenient and contactless payments in the banking industry is a crucial driver in the region’s progress in this area.

In terms of both value and volume, the market in North America is exploding. Demand for rapid shopping experiences and shorter queue wait times is driving the North American market.

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