Self Services Technologies Market 2030 | Business Strategies and Opportunities with Key Players Analysis

According to a recent report published by Allied Market Research, titled, "Self Service Technologies Market by Component, Type, End User, and Region: Global Opportunity Analysis and Industry Forecast, 2021-2030," The global self service technologies market was valued at $32.23 billion in 2020, and is projected to reach $88.33 billion by 2030, registering a CAGR of 10.55%.

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Self-service technology enables customers to independently interact with services, significantly altering customer interactions without relying on frontline service staff. The focus is solely on achieving positive outcomes. Key market growth drivers include enhancements in operational efficiency and performance, rising adoption of real-time analysis and predictive analytics solutions, and growing awareness among end users.

The global self services technologies market is impacted by factors, such as upsurge in the demand for automated systems, growth of self services technology industry in developing countries, technology advancements, and rise in trend of card skimming. However, government regulation and mature market are anticipated to hamper the market growth.

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Based on type, the ATM segment dominated the global self services technologies market share in 2020, and is expected to continue this trend throughout the self services technologies market forecast period. This is because, ATMs have emerged as multifunctional machines in the recent years, offering customers with services, such as cash deposit, bill payments, and account statements, which was only limited to cash dispense in past. This additional service has benefited banks and financial institutions in their efforts to improve revenue margin, save operating time, and provide comfort to customers. This is widely adopted as the key strategy by major players in the ATM market to focus on expanding their geographical presence.

Based on the industry verticals utilizing these technologies. For instance, in the retail sector, self-service technologies are commonly found in supermarkets, convenience stores, and shopping malls, where customers can check prices, scan items, and make payments without assistance. In banking, ATMs provide 24/7 access to banking services such as cash withdrawals, deposits, and account inquiries. Healthcare settings utilize self-service kiosks for patient check-ins, appointment scheduling, and accessing medical records, enhancing operational efficiency and patient experience.

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Asia-Pacific is expected to observe highest growth rate during the forecast period. Increase in investments for global self services technologies industry solutions among countries, such as China, Japan, Thailand, India, and Indonesia fuel the growth of the market. In India, the ATM industry is growing at an exponential rate. Since many banks still operate under proprietary networks, the increase in number of banking customers is likely to foster the growth of the ATM market. The demand for vending machine has grown tremendously in this region. Japan and China, being the major contributors to this growth, have now reached a point of saturation. In Japan, for every 23rd person, there is self service assistance in the form of vending machines, kiosks, and ATMs. The boom in the retail sector as well as emerging infrastructures in this region is expected to be a key factor to facilitate the growth of the market.

Key findings of the study:

 The growth of the global self-service technologies market would be supplemented by the increasing demand for self-service machines to reduce manual tasks and enhance the quality of customer service.

 Increased adoption would be witnessed across key sectors such as retail, banking and finance, and healthcare, over the forecast period (2015 - 2020).

 The vending machine segment contributed the maximum revenue share of 57%, to the overall revenue of self-service technology market in year 2014.

 North America accounted for the maximum adoption of self-service technologies with 44% share in the overall global revenue.

 Asia-Pacific and LAMEA are forecast as the most lucrative markets in terms of growth, owing to developments in the retail and consumer goods sector and the adoption of advanced technologies.

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The report also outlines the competitive environment of the global self-service technology market, providing a comprehensive study of the key organic and inorganic strategies adopted by market leaders. The companies are focusing on product launch and technological advancements as key strategies to maintain their leading positions. The key players in the industry such as Kiosk Information Systems, NCR Corporation, Crane Co., Vend-Rite, and Glory Ltd. are engaged in the process of developing new solutions and are majorly focusing on providing better services whilst upgrading the security features of the existing self-service products. Prominent companies profiled in the report include Kiosk Information Systems Inc., NCR Corporation, HESS Cash Systems GmbH & Co., Fujitsu, Glory Ltd., Azkoyen Group, Crane Co. (USA), Mass International Europe B.V. (Netherlands), Vend-Rite and IBM Corporation.

The report focuses on the growth prospects, restraints, and global self-services technologies market share. The study provides Porter's five forces analysis of the global self-services technologies market forecast to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, the threat of new entrants, threat of substitutes, and bargaining power of buyers on the global self services technologies market trends.

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