Farmington, Feb. 06, 2023 (GLOBE NEWSWIRE) -- The Global Self-Checkout System Market Size Was Valued At USD 3.90 Billion In 2021. The Market Is Evaluted To Grow From USD 4.51 Billion In 2022 To USD 12.01 Billion By 2029, Exhibiting A CAGR Of 15.0% During The Forecast Period. The COVID-19 pandemic has been shocking and has never happened before. Because of this, demand for self-checkout solutions has been lower than expected in all regions compared to levels before the pandemic. Our research shows that the world market was 12.4% smaller in 2020 than in 2019.
The report covers a wide range of solutions and services from key players like NCR Corporation, Toshiba Global Commerce Solutions, Diebold Nixdorf Incorporated., Hisense Systems Europe, and Qingdao CCL Technology Co., Ltd. Customers can buy things from a store without having to use a traditional checkout with a person working there. Fujitsu Limited has a number of self-checkout machines, like the FUJITSU Impulse self-service, U-Scan 6.0, U-Scan Genesis, and others. In the same way, NCR Corporation's FastLane Self-Service Checkout R6C is an example of an advanced self-checkout system.
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Recent Developments:
- January 2022: Qingdao CCL Technology Co., Ltd. worked with Tusson Ltd. to install self-checkout machines in 10 stores in Minsk, Russia.
- September 2021: Massive retailer Conad Nord Ovest teamed up with Diebold Nixdorf Incorporated to deploy SCO systems and solutions in stores. In 2021, the company installed more than 160 checkout counters in Conad supermarkets and hypermarkets in Italy.
- March 2019 - JD.com teamed up with Fung Retailing Group to launch an AI-powered self-checkout system that recognizes items in seconds without the need to scan barcodes. These AI checkouts have been implemented at two Fung's Circle K convenience stores in Hong Kong.
Segment Overview
Type Insights
There are both fixed and mobile self-checkout solutions on the market. The fixed segment is likely to have the largest market share because it has more features and functions. More and more convenience store owners are putting in fixed checkout systems, which has made the market grow.
Component Insights
The market study looks at services and solutions that are based on the components. Because more self-checkout machines are being put in place in the retail and hospitality industries, the solution segment is expected to have the biggest market share.
Sales Channel Insights
The market is both direct and indirect, depending on how the products are sold. The direct segment is expected to have the biggest share of the market because retail and hospitality businesses buy in bulk. The makers of SCO systems sell a lot of them in places with low prices and few taxes on imports and exports.
End-user Insights
The retail segment is expected to have the biggest market share because more shops, supermarkets, malls, and convenience stores are using self-checkout machines to save time and money on extra labour. People can scan the bar codes on items in stores and malls to pay for them without having to wait in long lines. In November 2021, ShopMe opened a self-checkout system with De Pindakaaswinkel at the Westfield Mall in the Netherlands. People at Westfield Mall in the Netherlands can pay their bills online through ShopMe's self-checkout app.
Regional Outlook:
During the time frame of the forecast, North America is expected to have the biggest share of the global market. This is because many stores there already have systems for customers to check out themselves. For example, as of July 2020, the 180,000-square-foot Walmart stores in the United States had 34 self-checkout stations that customers could use. With the new self-checkout station, stores could get rid of long lines of people.
The North American market is also growing because retailers, restaurants, and other end-users are becoming more open to automation and digital payment methods.
The U.S. is the biggest market in North America because more and more people there use mobile payments. Also, because these machines are used in stores and restaurants, Canada is expected to grow at the fastest rate.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 15.0% from 2023 to 2030. |
| Revenue Forecast by 2022 | USD 4.51 Billion |
| By Type | Fixed, Mobile-based, Others |
| By End-user | Hospitality, Retail, Others |
| By Component | Services, Solution, Others |
| By Sales Channel | Direct Channel, Indirect Channel, Others |
| By Companies | Toshiba Global Commerce Solutions (U.S.), NCR Corporation (U.S.), Diebold Nixdorf, Incorporated (U.S.), Qingdao Histone Intelligent Commercial System Co. Ltd. (Shiji Group) (China), Qingdao CCL Technology Co., Ltd. (China), Qingdao Wintec System Co., Ltd. (China), Fujitsu Limited (Japan), Erply (U.S.), ITAB Group (Sweden), Pan-Oston (U.S.) |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Latest Trends:
More retailers, hotels, and other businesses are using self-checkout systems that are based in the cloud and use AI. This helps the market grow. In developed countries, services in AI-based systems are becoming more popular and more common.
To stay competitive, some of the biggest players on the market are putting in self-checkout systems that use the cloud and AI.
Driving Factors:
In the process of digital transformation, connectivity, digitization, and data are all very important. Digitalization helps businesses make new products and services that make their customers happier. Self-checkout systems make it easier for customers to shop and let them pay digitally or without touching a card reader. More people are using ways to pay without cash, so there is more demand for checkout systems. These checkout systems are used to shorten the time customers have to wait and give them a unique shopping experience. Also, the number of electronic payments is going up quickly around the world because more and more people have smartphones. Also, the biggest companies in the market are teaming up to put self-checkout systems in stores. For example, Capgemini said that the number of cashless transactions rose by 14.1% from 2018 to 2019 and will reach 708.50 billion around the world in 2020.
Restraining Factors:
A lot of businesses and firms get help from SCO. But businesses need to be ready for problems like data leaks, broken devices, phishing attacks, software and network problems, and so on. For example, in unsafe and unsecure networks, there is a high chance that data can be hacked, which is a cyber risk. Data hackers can easily break into and get access to important data and records, like a business customer's financial credentials. This could cost the company a lot of money and hurt its reputation.
Key Segments Covered:
Top Market Players:
Toshiba Global Commerce Solutions (U.S.), NCR Corporation (U.S.), Diebold Nixdorf, Incorporated (U.S.), Qingdao Histone Intelligent Commercial System Co. Ltd. (Shiji Group) (China), Qingdao CCL Technology Co., Ltd. (China), Qingdao Wintec System Co., Ltd. (China), Fujitsu Limited (Japan), Erply (U.S.), ITAB Group (Sweden), Pan-Oston (U.S.), and others.
By Type
- Fixed
- Mobile-based
- Others
By End-user
- Hospitality
- Retail
- Others
By Component
- Services
- Solution
- Others
By Sales Channel
- Direct Channel
- Indirect Channel
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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