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Self-Checkout System Market Revenue, Opportunity, Segment and Key Trends – Top Key Players are Diebold Nixdorf, Fujitsu Global, IBM, NCR Corporation and TOSHIBA Global Commerce Solutions, Inc

Self-Checkout System Market

Self-Checkout System Market

With retail outlets massively demanding a hassle-free checkout process, self-checkout systems market has been gaining commendable traction lately. The rising generation of millennials has added further momentum to self-checkout systems industry, given that today’s youth-oriented, tech savvy generation demands perfection with just a mere push of the button. The trend of increasing automation has thus proved to be financially advantageous to numerous businesses. Just recently, a MacDonald’s experiment established that while using a self-service kiosk, customers tended to supersize their orders resulting in 30% more orders – primarily because consumers felt that no one is judging their choices.

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The growing labor shortage issues, particularly in developed regions, have pressed the need for automated checkout. Furthermore, favorable infrastructure trends and increase in the number of supermarket and hypermarket stores, such as Wal-Mart, Kroger, and Safeway, are expected to drive the self-checkout system market growth. However, the reluctance to use such systems owing to the increased risk of theft and loss of inventory may hinder the market growth. Increasing use of mobile scanning solutions and enhanced security feature could offer growth opportunities for the global market over the forecast period.

Key industry players involved and promoting the growth of the global self-checkout systems market are as follows:

• Diebold Nixdorf
• Digimarc
• ECRS (ECR Software Corporation)
• Fujitsu Global
• IBM
• IER Group
• ITAB ScanFlow AB
• NCR Corporation
• Olea Kiosks Inc.
• Pan Oston
• PCMS Group
• Scandit
• ShelfX
• Slabb Inc.
• TOSHIBA Global Commerce Solutions, Inc
• Versatile Credit

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The market for the cashless self-checkout system is expected to witness sharp growth over the forecast period, given the rising use of card and mobile wallets for payments. The soaring rate of card-based, mobile, and NFC-enabled payment, particularly in developed countries, has led to an increased trend of the automation technology in such regions. Standalone self-checkout models are predominantly employed in large retail formats due to the need for accommodating the large volume of items being purchased in such stores. Wall-mounted and countertop models have gained an increased prominence in the entertainment sector for ticketing purposes. Mobile self-checkout solutions are expected to serve disruptive technologies displacing the need for checkout counters and enabling customers to scan and pay for items using their smartphones.

The self-checkout system market demand in hospitality applications, such as hotels and travel accommodations, restaurants, pubs, bars, cafés, and fast food joints, is expected to foresee the growing demand over the next six years given the escalating number of such formats, particularly in developing regions. Hospitality deployment mainly comprises menu and food ordering, hotel check-ins, information access, bookings and appointments, and advertising. The surging number of fast food chains and the need for eliminating long queues and wait times are expected to significantly drive the demand across hospitality applications.

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The self-checkout system market in Asia Pacific is expected to witness a substantial growth due to the increasing number of infrastructure development projects and the rising demand for automated solutions in the region. The North American self-checkout system market dominated the global industry in 2016 and this trend is expected to continue over the forecast period owing to the presence of key market players in the region and the early adoption of new technologies particularly in the U.S. The rise in investments by retailers and high demand from customers to curtail long lines are expected to favorably boost market growth in the in Latin America.

Key vendors in the self-checkout system market comprise Diebold Nixdorf, NCR, Fujitsu, and Toshiba. Market players are investing in R&D to develop self-checkout solutions matching the diverse application needs and aesthetic environmental designs. The growing trend in the industry is toward partnerships and alliances with third parties that have similar expertise and products that are complimentary for the vendor’s solutions. For instance, in 2016, NCR announced its strategic partnership with CBE, a European retail IT Solutions Company, to supply self-checkout solutions in the UK and Ireland for the independent retail sector. Such strategic initiatives are expected to positively drive revenue growth for market players.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology

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Corporate Sales, USA
Global Market Insights, Inc.
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