Global Self Services Technology Market (2016-2022)
Self-Service technology is a technological interface, allowing customers to avail service independent of the service provider. To help the customers make their transactions convenient, accurate and smooth, Self-Services technologies are replacing major face-to-face interactions with technologically advanced solutions. Customers, over the years have started using self-service technologies for hassle free and smooth transactions. This has increased the overall demand for these technologies, majorly in the developed and developing economies. Increasing demand for automated self-services technology, advancement in smartphone, easy accessibility paired with advancement in wireless communication are the major factors driving the world self-service technology market. In addition, increasing demand for technologically advanced products coupled with rapidly growing retail sector would provide ample growth opportunity for the market. However, increasing security threats including information hacking and card skimming paired with strict government regulations regarding safety of customers’ data limits the revenue generation for the self-services technology market.
The global self-services technology market is bifurcated based on type and solution type. Based on type, the report segments the market into vending machine, ATM and kiosks and based on solution types, into deployment and managed services. ATM dominated the global self-service technology market and is expected to maintain its dominance throughout the forecast period. Furthermore, increasing demand for cashless transaction would influence the demand for vending machines and kiosk market. Kiosk and other self-service technology have enhanced the overall consumer satisfaction level. Within the vending machine type, the market is segmented into beverage, snacks, candy, gumball, cigarette and specialized vending machines. Conventional, brown label, white label, smart ATM and cash dispenser are the major types of ATM’s analyzed in the report. In addition, photo, DVD, ticketing, HR & employment, patient self-service, information providing and banking & financial among others are the various kiosks available in the market.
Further, for better analysis and penetration of self-service technology solutions the report bifurcate the world self-service technology market into different geography and countries including North America (U.S., Canada, Mexico and rest of North America), Europe (Russia, Germany, France, U.K., Italy, Spain and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Malaysia and rest of Asia-Pacific) and LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria and rest of LAMEA). In 2015, North America is estimated to dominate the world self-services technology market and is expected to maintain its dominance throughout the forecast period.
Major players operating in the self-service technology market are focusing on product launch as their key growth strategy to increase their market share and enhance their product offerings. Some of the key companies profiled in the report include KIOSK Information Systems Inc., HESS Cash Systems GmbH & Co. KG, NCR Corporation, Fujitsu Limited, Glory ltd., Azkoyen Group, Crane Co., Maas International B.V., Diebold, Incorporated and IBM Corporation.