Self Services Technologies Market Projects Projects 10.55% CAGR, Surpassing USD 88.33 Billion by 2030

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

Self-service technology enables service delivery that independently transforms client interactions, focusing on positive outcomes without front-line staff. Key market growth drivers include enhanced operational efficiency and performance, rising demand for real-time analysis and predictive analytics, and growing awareness among end users.

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The market's growth is driven by rising demand for automated systems, expansion of self-service technology in developing countries, technological advancements, and an increase in card-skimming incidents. However, market growth may be hindered by government regulations and market maturity.

In 2020, the ATM segment led the market share and is expected to retain its dominance through 2030. ATMs have evolved into multifunctional machines, offering services like cash deposits, bill payments, and account statements, extending beyond traditional cash withdrawals. This shift has helped banks and financial institutions increase revenue margins, reduce operating time, and enhance customer convenience. Major ATM providers are using geographic expansion as a strategy to boost market share.

The COVID-19 pandemic has further impacted the market. In 2020, the global self-service technologies market value reached $32.23 billion and is anticipated to grow to $88.33 billion by 2030, with a CAGR of 10.55%. Post-COVID-19 projections for 2030 are even higher than pre-pandemic estimates. The pandemic has transformed self-service across healthcare, manufacturing, and other non-retail sectors.

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With social distancing and strict regulations in place, businesses initially reduced spending on new technologies. However, rising demand for groceries, medical supplies, and home improvement items, coupled with limited workforce availability, has accelerated the adoption of self-service checkout systems to support zero-contact practices.

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.

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This report gives an in-depth profile of some key market players in the self services technologies market, which include Kiosk Information Systems Inc., NCR Corporation, HESS Cash System GabH & Co., Fujitsu, Glory Ltd., Azkoyen Group, Crane Co., Maas International Europe B.V., Vent-Rite, and IBM Corporation. This study includes market trends, self services technologies market analysis, and future estimations to determine the imminent investment pockets.

Key Findings of The Study:

1. By component, the hardware segment dominated the global self-service technologies market size. However, the services segment is expected to exhibit significant growth during the global self-services technologies forecast period.

2. Based on type, the ATM segment generated the highest revenue in 2020. However, the kiosks segment is expected to exhibit significant growth during the forecast period

3. By end user, the BFSI segment dominated the global self services technologies market size. However, the healthcare segment is expected to exhibit significant growth during global self-services technologies forecast period.

4. On the basis of region, the global self services technologies industry was dominated by North America in 2020. However, Asia-Pacific is expected to witness significant growth in the upcoming years.

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