Press release
What's Driving the Self-Checkout System Market Growth? Diebold Nixdorf, Fujitsu Global, IBM, NCR Corporation, IER Group, TOSHIBA Global Commerce Solutions, Inc
In terms of revenue, global self-checkout system market share is anticipated to surpass USD 4 billion by the end of 2024. With businesses of varying fields leveraging technology to its fullest to optimize customer experience, self-checkout systems market is witnessing greater penetration across retail, entertainment, healthcare, travel, and hospitality industries.The worsening degree of labor shortage paired with mounting labor costs on a global scale are paving the way for the proliferation of various automated systems in diverse industries. With retail industry being a frontrunner in the adoption of these systems, global self-checkout system market volume is estimated to witness a significant rise across supermarkets, hypermarkets, department stores, and large retail chains in developed regions such as North America and Europe.
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The emergence of a cashless economy, augmenting focus on improving shopping experience, and technological advancements are other factors fueling self-checkout system market trends. Market players are directing substantial efforts to develop self-checkout systems with lesser complexities, improved user interface, and multi-lingual support, which is expected to boost consumer acceptability of these systems in the coming years. Increasing deployment of these systems in movie theatres, museums, and travel industry for facilitating self-ticketing is slated to further intensify market trends.
Payments are gradually marching towards the cashless road, which is laying a favorable groundwork for self-checkout systems market to thrive. Mobile payments facilitate an easy way to shop through self-checkout systems by simplifying the payment techniques.
China is likely to emerge as promising growth window in self-checkout system market owing to the momentous growth of the mobile payment industry in the region. Apps such as WeChat Pay (Tencent) and Alipay are immensely popular in China and as per the estimates of People's Bank of China, total number of mobile payments transactions in China as of 2016 was 25.7 billion that was equivalent to USD 20 trillion.
Businesses in the hospitality industry are deploying self-checkout systems at a torrid pace to reduce wait times and improve order accuracy. The demand for these systems has witnessed a substantial surge in this vertical as they are capable of performing complicated transaction such as order customization and bill splitting. Self-checkout system market volume is increasing as major food corporations across the globe are showcasing heightened interest in the technology deployment to assist customers in quick food ordering and payment processing. For instance, Subway installed self-checkout facilities across 12 of its pilot locations in 2017. Similarly, in 2016, McDonalds upgraded more than 500 of its outlets worldwide with self-checkout kiosks. Additionally, with a high number of customers shifting preference towards self-service, self-checkout systems are experiencing a surge in demand. Hotels are making conscious efforts to offer self-checkout services through dedicated kiosks, where guests can access information related to reservations, dispense room keys, print receipts, and access other information.
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A booming retail sector and the tendency of the region to adopt latest technologies is favoring self-checkout systems market outlook in the US. The country houses numerous supermarkets and hypermarkets, which generates massive product demand. For instance, Walmart has a Scan & Go mobile payment option for consumers to scan their products with a mobile app. Moreover, extensive usage of mobile payments has also created a conducive environment for self-checkout systems market growth. As per reliable estimates, physical goods worth USD 47.6 billion were purchased in the US through remote mobile payments in 2016. Widespread awareness and acceptability of these systems are also influential factors propelling self-checkout system market size.
Table of Contents (ToC) of the report:
Chapter 4. Self-Checkout System Market, By Solution
4.1. Self-checkout system industry share by solution, 2016 & 2024
4.2. Hardware (Revenue, Shipment)
4.2.1. Market estimates and forecasts, 2013 - 2024
4.2.2. Market estimates and forecasts, by region 2013 - 2024
4.3. Software (Revenue)
4.3.1. Market estimates and forecasts, 2013 - 2024
4.3.2. Market estimates and forecasts, by region 2013 - 2024
4.4. Service (Revenue)
4.4.1. Market estimates and forecasts, 2013 - 2024
4.4.2. Market estimates and forecasts, by region 2013 - 2024
Chapter 5. Self-Checkout System Market, By Transaction (Revenue)
5.1. Self-checkout system industry share, by transaction, 2016 & 2024
5.2. Cash-based
5.2.1. Market estimates and forecasts, 2013 - 2024
5.2.2. Market estimates and forecasts, by region 2013 - 2024
5.3. Cashless
5.3.1. Market estimates and forecasts, 2013 - 2024
5.3.2. Market estimates and forecasts, by region 2013 - 2024
Chapter 6. Self-Checkout System Market, By Model (Revenue, Shipment)
6.1. Self-checkout system industry share, by model, 2016 & 2024
6.2. Standalone
6.2.1. Market estimates and forecasts, 2013 - 2024
6.2.2. Market estimates and forecasts, by region 2013 - 2024
6.3. Wall-mounted / Countertop
6.3.1. Market estimates and forecasts, 2013 - 2024
6.3.2. Market estimates and forecasts, by region 2013 - 2024
6.4. Mobile
6.4.1. Market estimates and forecasts, 2013 - 2024
6.4.2. Market estimates and forecasts, by region 2013 - 2024
Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/self-checkout-system-market
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