Self Service Technology Market Growing to Witness 15.6% CAGR During Forecast Period,2016 – 2022

MARKET SEGMENTATION

Vending Machine Market
ATM Market
Kiosk Market

The global self service technology market registered an estimated revenue of $15,939.5 million in 2015, and is expected to reach $42,302.9 million by 2022, growing at a CAGR of 15.6%, during the forecast period. The companies operating in this market are offering convenient services to consumers in order to save their time for different routine activities including cash and cashless transactions, retrieving information and buying consumables.

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Vending Machine, ATM and Kiosk are the three types of end products available in self-service technology market. In 2015, ATM is estimated to dominate the global self-service technology market in terms of the revenue. The segment is expected to maintain its dominance throughout the forecast period. Technological advancements, improvement in wireless communication networks and increasing demand of automated devices are some of the prominent factors driving the adoption of self-service technology worldwide. However, hacking of personal data and other security threats are some of the factors that are restraining the market growth.

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The different types of kiosk studied in the report includes Ticketing, Photo, HR & Employment, Banking & Financial, DVD, Patient Self-Service, Information Providing and Others. In 2015, ticketing kiosk is estimated to generate maximum revenue; however, the banking & financial kiosk segment is expected to witness highest during the forecast period.

Based on geography, the global self-service technology market is segmented into North America, Europe, Asia Pacific and Latin America, Middle East & Africa (LAMEA). In 2015, Asia-Pacific is estimated to dominate the global self-service technology market. The region is expected to maintain its dominance throughout the forecast period, with a revenue of $16,809.3 million by 2022.

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The major companies operating in the global self-service technology market are NCR Corporation, Diebold Inc., Fujitsu Limited, Azkoyen Group, Kiosk Information Systems Inc., Maas International B.V., IBM Corporation, Hess Cash Systems GmbH & Co. KG, Glory Limited and Crane Co. Product launches and collaborations are the prominent strategies adopted by the companies operating in the market.

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