Middle East & Africa Self-Service Kiosks Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Component, Type, and End User

The self-service kiosks market in MEA is expected to grow from US$ 943.35 million in 2019 to US$ 1,873.85 million by 2027; it is estimated to grow at a CAGR of 9.2% from 2020 to 2027. Payment gateways are broadly used for cashless transactions. They transfer the data related to a transaction between the bank and the billing portal. Payment gateway systems permit online retail platforms to collect cash via a bank chosen by the consumer without compromising sensitive data. They are becoming increasingly popular and flexible to buy products and promote smooth delivery at consumer’s place. Growing number of smart devices in the market gives rise to payment gateway systems, which are widely adopted by consumers across the world. Online payment system providers are collaborating with several self-service kiosk companies to provide secure and reliable solutions and services to customers. Self-service kiosks allow customers to make contactless payment and overcome the complicated process of physically collecting cash payments for a product purchased. The Internet, combined with online payment systems, has also propelled the sale and purchase of new digitized products such as self-service kiosks. Online payments are relatively popular in MEA as most consumers use mobiles to pay for goods. The payment gateway companies in countries across the region are offering comprehensive e-payment solutions to various self-service kiosk providers in order to catch the wave of technological development. Further, the market growth is attributed to advancements in payment gateway technology and increase in use of mobile wallets. The self-service kiosks and payment gateways offer several advantages, such as faster shopping, better integration of technology, and enhanced experience of personalized shopping, to customers. Rising integration of payment gateway systems with self-service kiosk solutions and increasing online shopping, together with advancements in billing methods, are further expected to create opportunities for the development of MEA self-service kiosks market during the forecast period. Also, the growing integration of AI and IoT with self-service kiosks is driving the growth of the MEA self-service kiosks market.

In terms of component, the MEA self-service kiosks market for the services segment is expected to grow faster during the forecast period. A majority of services offered by companies in the self-service kiosks market include installation, consulting, implementation, and support and maintenance. The installation services are, by default, offered by the companies on the site for precise and efficient installation of kiosks. Consulting services comprise the evaluation and designing of road maps for end users, further imparting customer due diligence (CDD), know your customer (KYC), and transaction monitoring features, among others. Implementation services involve setting up software and configuring the same at the clients’ sites. Implementing self-service kiosks software is considered a challenge task for all organizations, including the most mature ones. Understanding requirements; selecting right software; planning implementation; installing and configuring software, and integrating it with other systems; deploying to users; and managing organizational change are among the self-service kiosks services. Support and maintenance services for self-service kiosks include training workforce for using these systems, supporting the efficient operations of software, and regular upgrading of present systems. The self-service kiosks software developers usually provide users with regulatory compliance covering data validation; quality and reporting; transformation; and also compliance solutions for updates, enhancements, and fixes.

Among the MEA countries, Iran has recorded the highest number of COVID-19 confirmed cases. Other significant countries facing the economic impact of COVID-19 outbreak include Turkey, Saudi Arabia, the UAE, Egypt, Morocco, and Kuwait. The MEA had comparatively fewer number of COVID-19 cases than North America and Europe; therefore, strict lockdown regulation was not applied to all the countries in the region. However, going with the global trend, the self-service kiosks market in the MEA was significantly impacted. The installation of new self-service kiosks was delayed by a few months in 2020 due to limitations in cash flow among the retail, hospitality, real estate, media and entertainment industries.

The overall MEA self-service kiosks market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the MEA self-service kiosks market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the MEA self-service kiosks market. ACRELEC Group; Diebold Nixdorf, Inc.; NCR Corporation; Posiflex Technology Inc; and VeriFone, Inc. are among the players operating in the market.