Global Retail Self-Service Kiosk Market Size will Reach $689.15 Million in 2023

Global Retail Self-Service Kiosk Overview

According to Global Market Monitor, the global retail self-service kiosk market size will reach $689.15 million in 2023 with a CAGR of 11.44% from 2023 to 2028.

The retail self-service kiosk is an interactive device provided by the retail premise that helps the users perform informational and transactional operations. As the retail and food service industries move towards more efficient and intelligent services and customer experiences, the implementation of self-service kiosks has become an inevitable development trend and is considered a solution to enhance the competitiveness of business operations and service efficiency. Some consumers prefer to browse products in detail, while others prefer a quick and easy way to shop. Self-service kiosk can enhance the convenience of traditional retail stores while boosting sales by giving customers the option to order and pay online and pick up in-store, browse all available inventory from in-store endless-aisle kiosks, or simply check out without having to queue.

The Use of AI Can Bring More Convenient Services to Customers.

Walmart China introduces AI-powered self-service produce scales.  Customers simply place the bagged items on the scale and the system can accurately identify the product. In addition, AI can boost sales by providing customers with a more personalized service. More importantly, they can help gather relevant consumers and provide retailers with the information they need to better grow their business. Collecting data on customers has huge implications for business growth. Knowing the key essentials instantly provides operators with data that helps them make more informed decisions about merchandise, inventory, and growth strategies.

North America dominates the market.

North America dominates the global retail self-service kiosk market. Being the early adopter of the technology and home for many vendors is contributing to the market revenue. Moreover, the increasing demand for touchless services from the consumer market is growing. The Asia Pacific market is expected to witness the highest growth rate CAGR from 2022 to 2028. China and India are contributing to the growth rate in this region. 

Market Drivers and Restraints

The growing preference for contactless payment is propelling the adoption of self-service kiosks. Self-service kiosks are equipped with contactless payment terminals. They enable customers to make payments via debit cards, credit cards, or NFC-enabled devices such as smartwatches and smartphones. These modes of transactions are very secure, convenient, and fast, which helps merchants minimize waiting time and improve the in-store payment experience. Thus, the increasing adoption of contactless payment will boost the growth of the self-service kiosk market.

Drivers	Improving accessibility
	Increasing Capacity
	Raising awareness
	Growth of Contactless Payment
	Application of New Technology
Restraints	Growth of E-commerce
	The expense of using self-service kiosks is high.
	Post-installation maintenance costs are high.
	Human interaction is limited.