Self-Checkout System Market Forecast Showing 8% CAGR to 2024 | Profiling Top Companies are Diebold Nixdorf, Fujitsu, IBM, IER, Toshiba TEC Corporation

The global self-checkout system market is expected to accrue significant gains in the ensuing years attributed to the rise in retail stores and their efforts to reduce wait times and offer a hassle-free shopping experience. Despite the rapid proliferation of online shopping, retail stores have not only retained themselves in the game but increased store counts as well. A news report by Forbes had recently stated that the number of independent retailers is on the rise.

Indie fashion boutiques especially, are establishing successful multimillion-dollar companies through e-commerce sites and less than three physical stores. With consumers increasingly caring about both online and offline shopping experience, even major online brands like Warby Parker are expanding their services through physical stores. The extensive requirement for satisfying consumer experience at physical retail stores will prove to be rather beneficial for self-checkout system market.

Request a sample of this premium report at: https://www.marketstudyreport.com/request-a-sample/980156/

Self-Checkout System market is expected to surpass USD 4 billion by 2024. The industry growth can be attributed to factors such as the rise in demand for touch-free transactions and the growing trend of using mechanized systems globally. The shortage of labor coupled with rising labor costs in developed countries drives the industry growth. The rapid growth in industrialization in countries including India has led to a rise in the demand for automated machines. Increasing demand to replace human labor with machines to provide enhanced transaction systems to customers is driving the self-checkout system market.

The self-checkout system market is witnessing growth in the transportation sector owing to the capabilities of these systems for printing tickets and carrying out financial transactions with ease. The entertainment sector also provides growth opportunities for the self-checkout systems market owing to the increasing use of these systems in movie theaters, theme parks, and museums. Many restaurants are adopting these devices for an improved order accuracy and reduced wait times, augmenting the self-checkout kiosks market growth.

The complexities in implementing these systems are the major restraining factors for the self-checkout system market. The calculation of the cost of items such as vegetables and fruits that do not have UPC codes and require weight measurement becomes a tedious task. Additional features must be incorporated into these systems for processing such items. The reluctance in the acceptance of self-checkout systems in underdeveloped economies is anticipated to hinder the industry growth. The high cost of these systems may also hamper the demand for these systems.

Growth drivers

• Growing supermarket penetration in the U.S.

• Rise in minimum wages in Canada

• Growing contactless payment in the UK

• Unmanned store concepts in China

• Proliferation of RFID tagging in Japan

• Infrastructure development in Latin America

• Growing tourism in Dubai and South Africa

Request a discount on standard prices of this premium report at: https://www.marketstudyreport.com/check-for-discount/980156/

The U.S. is among the earliest adopters in the self-checkout kiosks market owing to the rapidly-growing retail sector and the tendency of the region to implement advanced technologies. Widespread awareness about the advantages of self-service machines in the country contributes to the growing demand for self-checkout systems. Increasing requirement of using automated machines owing to rising labor costs is driving the industry in the region.

Key players operating in the self-checkout systems market include Diebold Nixdorf, Inc., Toshiba TEC Corporation, ECR Software (ECRS) Corporation, Fujitsu Limited, PCMS Group PLC, ITAB Scanflow AB, and Olea Kiosks, Inc. Increasing competition among major companies to offer technologically advanced solutions is driving the self-checkout kiosks market. In January 2018, Fujitsu announced that the company will be featuring new cashless and cash handling self-checkout solutions at the National Retail Federation 2018 in New York.

Table of Content:

Chapter 1. Self-Checkout System Market Methodology and Scope

Chapter 2. Self-Checkout System Market Executive Summary

Chapter 3. Self-Checkout System Industry Insights

Chapter 4. Self-Checkout System Market, By Solution

Chapter 5. Self-Checkout System Market, By Transaction (Revenue)

Chapter 6. Self-Checkout System Market, By Model (Revenue, Shipment)

Chapter 7. Self-Checkout System Market, By Application (Revenue, Shipment)

Chapter 8. Self-Checkout System Market, By Region (Revenue, Shipment)

Chapter 9. Self-Checkout System Market Company Profiles

Outer scope of this report besides retail, even other industries are adapting to the benefits of a self-checkout system. Recently, for instance, Sodexo Ventures invested in a Chinese startup, AEYE-GO focused on self-checkout systems based on AI image recognition for the catering industry. The technology is said to facilitate fast and personalized checkouts by offering tray and facial recognition options.

Recently, self-checkout machine maker, NCR and Yoti also teamed up to create a system that verified the ages of shoppers buying alcohol and cigarettes at UK supermarkets. Even Lenovo launched a staff-less convenience store that uses facial recognition to charge customer accounts. Driven by technological advancements, the self-checkout system market is likely to traverse alongside a positive growth path in the years ahead.

For more information on this report, Please visit at: https://www.marketstudyreport.com/reports/self-checkout-system-market/?utm_source=OPR-SP

Related Report:

United States Self-checkout System Market Report 2017

In this report, the United States Self-checkout System market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022.

https://www.marketstudyreport.com/reports/united-states-self-checkout-system-market-report-2017?utm_source=RR-SP

About Us:
Marketstudyreport.com allows you to manage and control all corporate research purchases to consolidate billing and vendor management. You can eliminate duplicate purchases and customize your content and license management.

Contact Us:
Market Study Report
4 North Main Street,
Selbyville, Delaware 19975
USA
Phone: 1-302-273-0910
US Toll Free: 1-866-764-2150
Email:sales@marketstudyreport.com
Website:https://www.marketstudyreport.com
Blog: https://www.marketstudyreport.com/blog/

This release was published on openPR.