Global Retail Self-Checkout Terminals Market 2018-2022
About Retail Self-checkout Terminals
In a retail outlet, a self-checkout terminal is a self-service transaction system that enables consumers to make payment for their purchases by themselves. The system offers convenience and privacy as consumers eliminate the need for a cashier or an attendant. Self-checkout terminals include a barcode scanner, touchscreen display, weighing scale, card reader, cash reader, and a deposit unit. In addition, as stated, speed, privacy, and convenience are the key factors that have led to the increased adoption of self-checkout terminals on a wider scale, globally.
Technavio’s analysts forecast the global retail self-checkout terminals market to grow at a CAGR of 18.63% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global retail self-checkout terminals market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Retail Self-checkout Terminals Market 2018-2022
Technavio recognizes the following companies as the key players in the global retail self-checkout terminals market: Diebold Nixdorf, FUJITSU, ITAB Shop Concept, NCR, Pan-Oston, and TOSHIBA TEC.
Other Prominent Vendors in the market are: ECR Software, IER, PCMS Group, and Slabb.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is evolution of NFC technology. The development of technologies such as NFC will change the way in which customers operate self-checkout terminals in the near future. NFC is wireless communication technology that enables the users to exchange data between two devices by bringing the two devices very close, not more than an inch. By using such technology, customers can make transactions without touching the self-checkout system in the store. This facilitates easier and faster checkouts. In addition, the use of NFC technology will minimize the damage of self-checkout terminals. It is estimated that by the end of 2019, NFC-enabled smartphones will account for 68% of the total smartphones used, globally.”
According to the report, one driver in the market is growth in retail industry. The increase in the number of retail outlets across the globe is also driving the market for self-checkout terminals. The number of retail outlets being opened around the world is increasing. Major retailers, such as Carrefour, Metro, Tesco: and Wal-Mart are expanding their presence in Africa and APAC to gain more market presence and shares. For example, Carrefour has formed a joint venture with CFAO to expand its operations in eight countries: including Congo, Cameroon: the Democratic Republic of the Congo, Ivory Coast, Ghana: Gabon, Nigeria, and Senegal in West and Central Africa. In September 2017, 7-Eleven, an international chain of convenience stores, announced the expansion of its stores in the US. It is planning to surpass 20,000 stores by the end of 2017.
Diebold Nixdorf, FUJITSU, ITAB Shop Concept, NCR, Pan-Oston, TOSHIBA TEC, ECR Software, IER, PCMS Group, and Slabb.
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