Investment Opportunities for Kiosk Market in China - Growth, Trends, and Forecast (2020 - 2025)
The Investment Opportunities for Kiosk Market in China is segmented by Type (Banking, Vending Kiosk, Ticketing, Patient-interactive, Casino, and Information) and End-user Vertical (Banking and Financial Service, Healthcare, Retail, Hospitality, and Transportation).
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Scope of the Report
Key Market Trends
TABLE OF CONTENTS
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Kiosk market in China was valued at USD 8.74 billion in 2019, and is expected to reach USD 14.71 billion by 2025. The market is also expected to register a CAGR of 9.44% over the forecast period (2020 - 2025). The demand for kiosks in entertainment sector has seen growth, owing to the changing consumer trends, especially in the country’s youth population. Gaming kiosks have seen a growth in casinos, gaming and sports venues, and malls.
Growing demands for ATM in the country is a key driver for the market as consumers in this region are increasingly preferring interactive and touch screen ATMs. Technological advancements have enabled ATMs to be equipped with speech capability for the visually-impaired. In addition, the number of ATMs equipped with the central bank’s PBOC 2.0 standard chip card readers is growing, as is the number of EMV-compliant terminals. This preference is set to boost the growth of the kiosk market.
Growing tourism in the country is growing the market as many retailers and other service providers, in places with high concentration of tourists, are increasingly employing kiosk systems, which eliminates the communication and information barrier for the tourist and provide easy services for tourists giving the real time updates.
Increasing cybersecurity concern is challenging the market as China has been the target for many international hacker groups from the developed nations, who pose a high threat and recent hacks of kiosk systems worldwide are forcing consumers to seek other substitutes. This factor is expected to hinder the growth of the market.
Scope of the Report
Kiosk market in China is growing by gaining wider acceptance due to the convenience they offer and their economic prices. Many operators today prefer kiosks over traditional brick and mortar stores because of their low initial investment and overhead costs. The growing technological propagation and combining of Kiosk products with a vast kind of applications such as retail and healthcare etc. are the major factors driving the growth of the kiosk market.
By End-user Vertical
Banking and Financial Service
Other End-user Verticals
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Key Market Trends
Vending Kiosks in Food Sector to Grow Significantly
The increase in the number of vending machines in China poses an opportunity for the growth in the demand for vending kiosks, with additional display features. Owing to the flexibility and space constraints, vending kiosks provide competition to the existing small- and medium-scale convenience stores and stands that sell food and beverages.
Food and drinks contribute to the major share of the vending machine kiosks. The increase in product offerings in vending machines is providing a crucial growth for the intelligent vending machine market. Large beverage manufacturers, like Coca-Cola and PepsiCo, use their smart vending machines to sell their exclusive product lines.
Owing to a growing number of newly installed units in the food sector accepting payment by smartphones, vending machines are becoming ever more accessible to people in China in the form of mobile payments. Additionally, vending kiosk services are helpful in tracking food and beverage inventory, global consumption, nutrition labeling, unit production, gross margins, etc, which are helpful in managing the food and beverages stocks.
Bubble tea, also called Boba, is forming an important part of China’s new tea drinking culture and continues to boost the performance of street stalls in China.
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Information Kiosks in Tourism to Drive the Market Growth
As inbound tourism is increasing in China, information kiosks are highly used in the tourism sector as there is a deal with direct customer contact. These kiosks can be useful in several ways, from providing information on exhibits in museums and galleries to being able to give directions for use in shopping centers, checking in and out at hotels, and giving real-time updates.
As information kiosks are internet-enabled, they display data from an attraction website or database, thus, eliminating the need for leaflets. This is a great tool for people having a language problem in China and people living with disabilities, as delivering information to hearing and visually impaired persons by producing sounds and displaying pictures are useful to users with language translations, especially for the United States' tourists.
Information kiosks are great ways of advertising local businesses. When a person connects tourist to local businesses and shops, this self-service solution will encourage them to explore the area, which, in turn, is likely to increase revenue for business owners.
Infrared Touch Screen Wall Mounted Kiosk, made by Guangzhou company in China, is a dust-proof and rugged steel frame kiosk capable of running long hours. The kiosk helps tourists in finding information regarding their destination with directions to particular locations.
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Kiosk market in China is moderately fragmented with the presence of a large number of local players. Several players in the interactive kiosk market are increasingly focusing on new product development or innovations and merger and acquisition strategies to sustain the intensive industry competition. Key players in the market are Shenzhen Lean Kiosk System Co. Ltd, SZZT Electronics Co. LTD, KINGLEADER Technology Company, etc. Recent developments in the market are -
April 2019 - The China International Self-service, Kiosk and Vending Show (CVS), organized by UBM Sinoexpo brings together comprehensive, cutting edge innovations including currency identification technology, mobile payment equipment, vending systems and accessories, automated solutions and much more. A full range of payment solutions from coin and bill processing to cashless systems, including banknote validation system and bill acceptors are innovated in the vending machine.