Selbyville, Delaware, Sept. 13, 2021 (GLOBE NEWSWIRE) --
According to latest report “Self-Checkout System Market by Solution (Hardware, Software, Service), Transaction (Cash-based, Cashless), Model (Standalone, Wall-Mounted/Countertop, Mobile), Application (Entertainment, Healthcare, Hospitality, Retail, Travel), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027”, by Global Market Insights Inc., the market valuation of self-checkout system will cross $6.5 billion by 2027. The market growth can be attributed to the high demand for automated systems that enable to minimize the involvement of staff during the checkout process.
The self-checkout system market will witness rapid growth credited to the growing adoption of compact kiosks that feature a user-friendly interface. Wall-mounted/countertop systems are ideal for places with space constraints. Small restaurant owners and medium-sized retailers often face the issues related to the available floor space. With increasing number of retailers and restaurants adopting self-checkout systems to automate the process, the market will observe growth. Manufacturers are focusing on developing solutions with powerful computational capabilities in a compact design.
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The rise of international passenger traffic has encouraged transportation authorities to implement advanced solutions to reduce the checkout time and ensure traveler convenience. According to the International Air Transport Association, by 2020, 80% of global passengers will use a complete self-service system developed under standards produced by the association. Airport authorities at implementing self-checkout systems for several different purposes. In January 2021, Hudson, a travel experience provider with around 1,000 stores in commuter hubs, airports, and tourist destinations across North America, agreed to deploy Amazon's Just Walk Out technology in a few travels convenience stores. Self-service Bag Drop (SSBD) is an automated technology developed to reduce traveler check-in times. The technology enables passengers to print boarding passes and bag tags and put their luggage into the baggage system, using a simple user interface.
The expanding retail sector in the Middle East & Africa and acceptance of advanced digital technologies for customer satisfaction will support the self-checkout system market expansion. Retail is one of the most vital sectors for the economies such as Saudi Arabia and the UAE. There is a rise in the number of large malls to attract international tourists. The UAE is one of the most popular shopping destinations for international tourists. This factor will fuel the demand for self-checkout systems that ensure improved and hassle-free shopping experience. Similarly, the rise in the number of international tourists will also encourage the hospitality sector to adopt advanced self-checkout systems for customer convenience.
Key companies operating in the self-checkout system market include Diebold Nixdorf, Inc., Digimarc Corporation, ECR Software Corporation, Fujitsu Limited, Gilbarco Inc., IBM Corporation, IER, Inc., ITAB Shop Concept AB, NCR Corporation, Olea Kiosks, Inc., Pan-Oston Co., QINGDAO WINTEC SYSTEM CO., LTD., Scandit Inc., ShelfX, Inc., Slabb, Inc., StrongPoint, and Toshiba Global Commerce Solutions.
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Some major findings of the self-checkout system market report are:
- Increasing labor costs in Europe will foster the usage of self-checkout systems that enable end-users to complete the checkout process without the need for staff.
- The expanding retail sector globally will boost the adoption of self-checkout machines that enable retailers to keep the stores open even on Sundays in the absence of workforce. Retailers can operate the stores with minimum employees, with consumers preferring fast checkouts with standalone kiosks.
- Self-checkout systems at retail stores enable customers to scan and pay for their products themselves. This enables retailers to bust long queues at payment counters, enhancing the customer convenience and comfort.
- The increasing popularity and growing acceptance of digital payment techniques, such as mobile wallets and smart cards, will further stimulate the implementation of self-checkout kiosks. Digital payment techniques eliminate the need of store staff to handle cash-based financial transactions.
- The increasing penetration of smartphones will support the mobile self-checkout system market progression. Customers can use smartphones to scan items and pay for them through apps. This saves the time in waiting in long queues at cash counters.
- Advancements in self-checkout software that enable to handle all the transactions efficiently will impel the industry growth. The integration of AI and machine learning technologies into the software is enhancing its functionalities.
- The developing economic conditions in Asia Pacific, Latin America, and the Middle East & Africa will support the demand for self-service kiosks. The increasing penetration of automation will spur the self-checkout system market demand.
Table of Contents (ToC) of the report:
Chapter 3 Self-Checkout System Market Insights
3.1 Industry segmentation
3.2 Impact of coronavirus (COVID-19) pandemic
3.2.1 Global outlook
3.2.2 Regional outlook
3.2.3 Industry value chain
3.2.3.1 Research and development
3.2.3.2 Manufacturing
3.2.3.3 Marketing
3.2.3.4 Supply
3.2.4 Competitive landscape
3.3 Industry ecosystem analysis
3.4 Technology & innovation landscape
3.4.1 Impact of AI and sensors
3.4.2 Robot and automation
3.4.3 Key technologies
3.4.3.1 RFID technology
3.4.3.2 NFC technology
3.4.3.3 Mobile self-checkout
3.4.4 Interactive kiosks
3.5 Price trend analysis, 2017 – 2027
3.5.1 Region
3.5.2 Application
3.6 Regulatory landscape
3.7 Industry impact forecast
3.7.1 Growth drivers
3.7.2 Industry pitfalls & challenges
3.8 Growth potential analysis
3.9 Porter’s analysis
3.10 PESTEL analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/self-checkout-system-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
