Portland, OR, July 07, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global bank kiosk market accrued $756.96 million in 2021, and is predicted to garner $2.2 billion by 2031, registering a CAGR of 11.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
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Lucrative demand for multi-function kiosk, remote management, and technological breakthroughs drives the growth of the bank kiosk market. Moreover, an increment in demand for self-service in banking and financial services and improved consumer services provided by bank kiosks will spearhead the demand for bank kiosks. However, a rise in the use of smartphones for banking services and high costs of installation inhibit the market growth. Nevertheless, the surge in investments by banking firms for deploying bank kiosks in the Asia-Pacific region will open new opportunities for growth for the market.
COVID-19 Scenario
- The bank kiosk industry witnessed an increase in investments in the bank kiosk technology from major players of the industry during the COVID-19 pandemic, due to a surge in acceptance of contactless payment systems.
- The COVID-19 pandemic provided new opportunities for product launches into the market.
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