NEWS | Industry Updates


Growing demand for self-service technology


Increasing adoption of smart technology is driving the interactive and self-service kiosk market which is expected to enjoy significant growth up until 2030 according to a survey by Research and Markets. Technological advancements in the


electronics and information technology industry has resulted in development of new and advanced interactive and self- service kiosk systems that help reduce human efforts and simplify processes in various industries.


According to the report, these advancements are key to the growth in installation of interactive and self-service kiosk in public places. These systems are increasing in public places such as airports, restaurants, hotels, shopping centres, banks and financial institutions and many other spaces. However the high cost of installation,


support and maintenance, increasing threat of cyber-attacks and complex handing of the systems, could be restraining factors to the growth of the market.


A chocolate bar a day…


The chocolate industry represents a multibillion dollar industry and is expected to reach new levels of growth within the next few years according to new research. A growing school of thought about the health benefits of consuming chocolate on a daily basis is expected to remain a key booster for the market over the next few years. Meanwhile increasing urbanisation and widespread availability


of chocolate and derived products will also remain a key factor fuelling the market for chocolate globally, according to the Research and Markets report. However, the uncertain economy of the cocoa supply is


likely to raise chocolate prices, which is foreseen to be a major challenge to market growth. With medical experts suggesting chocolates have health benefits, customer demand for healthier options is on the rise. This has created scope for new variants such as organic, sugar- free, and energy bars. Seasonal and festive sales of chocolate are projected to surge in the next few years. Gifting chocolate hampers and bouquets are among some popular consumer trends in the market. Various companies have launched a wide range of chocolate varieties for occasions like Easter and Christmas. Boxed chocolate collections have replaced flower bouquets, as they prove more value for money.


10


HARDWARE DOMINATES The interactive and self-service kiosk market is segmented into hardware, software and services. The hardware segment dominated the market in 2020 by holding a share of over 40% of the total revenue generated. This large market share is attributed to increasing adoption of kiosk machines. The large number of kiosk machines such as ATMs, self-checkout systems, ticketing machines, and smart vending machines, are being set-up in various public places. However, software and services segments are projected to grow at substantial rate. Penetration of latest technology components, digitisation, and internet signal transmission are contributing to the growth of these segments.


FASTEST GROWTH IN ASIA-PACIFIC In 2020, North America held a prominent position in the global interactive and self-service kiosk market mainly due to increasing adoption of smart devices and equipment in retail, banking, and hospitality industries. Meanwhile, Asia-pacific is expected to witness the fastest growth of around 15.0% in the coming years. Large numbers of airports in countries such as Japan, India, China, and South Korea are implementing self-service kiosk systems to help fasten the ticketing and boarding process.


Other factors, such as the premiumisation of chocolate-based


products, the utilisation of aesthetically appealing packaging to attract consumers’ attention, along with the production of organic, vegan, and sugar- and gluten-free chocolates, are projected to drive the market further. Ultra-and high-end beans are used for gourmet chocolates. The premium cocoa market, with sustainability certification and single-origin, accelerates the overall growth of the market studied. In response to the growing demand, manufacturers are introducing their single-origin and premium chocolate line-ups. They are also supporting the local economies. These strategies are helping brands gain more profit margins and grow with a more positive brand image.


| vendinginternational-online.com


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28