Current State of Self-Checkout System Market with Key Players Diebold Nixdorf, Fujitsu, IBM, NCR Corporation, Scandit and TOSHIBA

Self-Checkout System Market growth is driven by rising proliferation of retail chains, increasing penetration of mobile scanning solutions, the need for fast checkout, and the reduction in wait times and long queues. The technology has been prevalent since a long-time, but its adoption has gained traction over the past few years given the decline in the average selling price of self-checkout kiosks and the growing preference for cashless and mobile payment. The reduction in the overall cost of the system has also led to an increased penetration of the solution across industry verticals. With the increasing number of deployments, several new adopters are in the pilot testing phase and on the verge of fully integrating with their checkout terminals.

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Key players in the self-checkout system market include Diebold Nixdorf, Digimarc Corporation, ECR Software Corp, Fujitsu, IBM, IER, ITAB ScanFlow AB, NCR Corporation, OLEA Kiosks, Pan-Oston Co., PCMS Group, Scandit, ShelfX Inc., Slabb Inc., Toshiba Global Commerce Solutions, Versatile Credit.

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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.

The global self-checkout system market is factored by trends such as reduction in total cost of ownership, rise in the minimum wage per hour particularly in North America, increased dependence on card payments, government investments in technologically-advanced infrastructure development, and surging demand from the hospitality sector. Declining price of self-checkout hardware and increasing development of smartphone compatible scanning and payment solutions are expected to positively drive the market growth of self-checkout system over the forecast period.

Self-Checkout System Market, By Solution
• Hardware
• Software
• Service

Self-Checkout System Market, By Transaction
• Cash-based
• Cashless

Self-Checkout System Market, By Model
• Standalone
• Wall-mounted / countertop
• Mobile

Self-Checkout System Market, By Application
• Entertainment
• Healthcare
• Hospitality
• Retail
• Travel
• Others

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Self-checkout system providers are focused on developing and providing advanced features such as higher storage capacity, LED lighting, space saving footprint, RFID detection, NFC-enabled payment, bill and coin accepting/dispensing above scanner, integration of cameras with scanning software, and facial recognition technology to capture loyal customers or shoplifters. Consistent efforts by market players to offer the most advanced solutions at competitive prices are expected to positively drive the self-checkout system market growth

Self-checkout system providers focused on offering solutions that can be easily integrated with the latest trending technologies, such as RFID, NFC, and smartphones, to expand the market scope. The launch of Amazon Go, a convenience store opened in January 2018 without any checkout counters and automatic mobile payments is expected to offer a stiff competition to market players with the need to push on R&D for diverse and innovative solutions. Such technology breakthrough is expected to drive the evolution of the self-checkout system market.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.

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.

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North America and Europe dominate the global self-checkout system market by region owing to the high degree of technology adoption. The U.S. self-checkout kiosks market dominated the global industry in 2016 owing to a large number of retail installations. For instance, in 2012, NCR announced the installation of 10,000 self-service checkout lanes to over 1,200 Walmart locations in the U.S. during 2013. The rapid adoption of automated solutions and the presence of a large number of regional players in the region have also factored in boosting their adoption in the region.

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