Self-Checkout Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
The global self-checkout systems market size reached US$ 3.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 8.2 Billion by 2027, exhibiting a growth rate (CAGR) of 13.6% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Self-checkout systems refer to mechanical and technological solutions that enable shoppers to scan, bag and pay for their purchases without human assistance in retail outlets. They allow the customer to process their purchases by themselves without requiring support from a cashier. The system consists of a touch-screen panel, barcode scanner to scan and record the codes of the products, basket stand, weighing scale and cash and card payment module. It offers various benefits, such as reduced waiting time for the customers and instances of cart abandonment, optimal utilization of resources and enhanced operational flexibility.
Rapid urbanization, along with increasing automation in the retail sector, is one of the key factors driving the growth of the market. Furthermore, the emerging trend of unmanned store concepts, especially in developing countries, is stimulating the market growth. In line with this, there is a shift in the consumer preference for touch-free transactions across the entertainment sector, such as in casinos, museums, movie theaters, sports arenas and theme parks, which is creating a positive outlook for the market. Moreover, self-checkout systems offer enhanced security features, intuitive consumer interfaces, cashless transaction facilities and multi-item scanning facilities, thereby increasing their demand across convenience/departmental stores, hypermarkets, and supermarkets. Additionally, various technological advancements, such as the integration of radio frequency identification (RFID) and near-field communication (NFC) systems in self-checkout machines, are acting as other growth-inducing factors. RFID readers can automatically read labels on the products and add them to the cart to proceed with the purchase. Other factors, including the increasing demand for a personalized and assisted shopping experience, along with the utilization of artificial intelligence (AI) and machine learning-based systems, are anticipated to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global self-checkout systems market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on offering, model type, mounting type and end user.
Breakup by Offering:
Breakup by Model Type:
Cash Model Type
Cashless Model Type
Breakup by Mounting Type:
Wall-Mounted and Countertop Mounting
Breakup by End User:
Supermarkets and Hypermarkets
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined with some of the key players being Diebold Nixdorf Inc., Digimarc Corporation, ECR Software Corporation, Fujitsu Limited (Furukawa Group), IBM Corporation, ITAB Scanflow AB, NCR Corporation, Pan-Oston Co., PCMS Group Inc., and Toshiba TEC Corporation.
Key Questions Answered in This Report:
How has the global self-checkout systems market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global self-checkout systems market?
What are the key regional markets?
What is the breakup of the market based on the offering?
What is the breakup of the market based on the model type?
What is the breakup of the market based on the mounting type?
What is the breakup of the market based on the end user?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global self-checkout systems market and who are the key players?
What is the degree of competition in the industry?
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