Global Self-Checkout Systems Market : Industry Analysis and Forecast (2019-2027)
Global Self-Checkout Systems Market was valued at US$ 3.1 Bn in 2019 and is expected to reach US$ 7.2 Bn by 2027, at a CAGR of 11.11% during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The demand for self-checkout systems is influenced by the several rises within the retail sector across the globe. Owing to the advantages, for instance, high checkout speed, low operational cost, and efficiency just in case of labor shortage, that self-checkout systems supply to retailers, are growing the usage self-checkout systems in this sector. The augmenting need of enterprises to supply their customers with an unmatched shopping experience is possibly going to push the demand for these systems well within the forecasting period. However, Reluctance to use self-checkout systems among elderly users and increasing risk of inventory loss are the major restraints for the self-checkout market globally.
The standalone mounting type is leading segment in the global self-checkout system market during the forecast period. This is owing to the fact that wall-mounted or countertop systems are increasingly being adopted by small stores, as they take up relatively less space.
Hypermarkets retail store segment contributed the largest share in the global self-checkout systems market in 2017. Nevertheless, throughout the forecast period, the demand for these systems is expected to grow in the supermarkets & departmental stores, and in smaller stores, for instance, convenience stores. This can be attributed to the increasing need for introducing quicker checkout options for shoppers.
North America dominates the global self-checkout systems market followed by Europe because of the high degree of technology adoption. The USA self-checkout kiosks market dominated the global industry in 2017 owing to a large number of retail installations. The factor that contributes to the growth of the market in these regions is the large being of the hypermarkets, supermarkets, and others wherein the self-checkout systems are being used widely. The rapid adoption of automated solutions and the presence of a huge number of regional players in the region have also factored in increasing their adoption in the region.
Major leading players are developing advanced technologies and launching new products in order to stay competitive in the self-checkout systems market. Further competitive strategies include mergers & acquisitions and new product developments. ITAB Scan flow and Toshiba arrived into an agreement, under which the latter company started selling and integrating ITAB’s systems in this market.
The key development, In May 2016, NCR extended its self-checkout solutions product portfolio with the launch of “NCR FastLane SelfServ self-checkout release 6”. This product has an integrated convertible option owing to which it can be easily switched from self-checkout mode to cashier-assisted mode.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Self-Checkout Systems Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the Global Self-Checkout Systems Market.
Scope of the Global Self-Checkout Systems Market
Global Self-Checkout Systems Market, By Offering
Global Self-Checkout Systems Market, By Model Type
• Cash model
• Cashless model
Global Self-Checkout Systems Market, By Mounting Type
• Wall-mounted and countertop
Global Self-Checkout Systems Market, By Vertical
Global Self-Checkout Systems Market, By Retail Store
• Supermarkets and departmental stores
• Convenience stores
Global Self-Checkout Systems Market, By Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
Key players operating in Global Self-Checkout Systems Market
• NCR Corporation
• Diebold Nixdorf, Inc.
• Fujitsu Limited
• Toshiba Tec Corporation
• ITAB Scanflow AB
• ECR Software Corporation
• Pan-Oston Co.
• Computer Hardware Design, Ltd.
• PCMS Group PLC
• Slabb Inc.
• OLEA Kiosks
• ShelfX Inc.
• Versatile Credit
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Name: Vikas Godage
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