Self-Checkout System Market Size By Solution (Hardware, Software, Service), By Transaction (Cash-based, Cashless), By Model (Standalone, Wall-Mounted/Countertop, Mobile), By Application (Entertainment, Healthcare, Hospitality, Retail, Travel), COVID-19 Im

Self-Checkout System Market Size By Solution (Hardware, Software, Service), By Transaction (Cash-based, Cashless), By Model (Standalone, Wall-Mounted/Countertop, Mobile), By Application (Entertainment, Healthcare, Hospitality, Retail, Travel), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 - 2027

The self-checkout system market is set to register substantial growth by 2027 owing to rising prevalence of contactless payments across key regions in the world.

Self-checkout systems eliminate the need for customers to stand in long lines during manned checkouts and also limit the contact between customers and the staff, providing a hassle-free and convenient checkout experience. The ongoing COVID-19 outbreak has spurred the adoption of various contactless transaction methods to prevent the spread of the novel coronavirus. As a result, many global enterprises are conducting extensive R&D activities to develop efficient self-checkout systems, which has facilitated greater product demand globally.

Furthermore, prominent industry players are implementing lucrative business strategies to strengthen their footing in the market, which has favorably impacted the business landscape. For instance, in August 2021, Olea Kiosks, Inc., a leading kiosk designer and manufacturer, launched Austin Kiosk, a height adjustable self-service kiosk designed to reduce operational costs and improve profitability in the healthcare sector.

To cite another instance, in June 2021, Toshiba Global Commerce Solutions, a pioneer in retail store technology, inked a partnership agreement with Calimax, a supermarket chain with locations in Sonora and Baja California. Through the agreement, Calimax installed Toshiba’s Self Checkout System 7 solution across its stores, thereby offering convenient and fast checkout experience to its customers.

The self-checkout system market has been categorized on the basis of transaction, solution, application, model, and region. With respect to solution, the market has further been divided into software, hardware, and services.

The services sub-segment is estimated to witness robust growth through the analysis period, progressing at a stable pace over 2021-2027. The integration of complex hardware and software systems in checkout machines is speculated to fuel the demand for high quality services in the coming years.

Based on transaction, the market has been bifurcated into cash-based and cashless. The cash-based sub-segment is projected to observe moderate growth over the assessment period. Prevalent consumer preference for cash-based transactions is projected to fuel segmental expansion through the forthcoming years.

In terms of model, the market has been segmented into wall mounted, standalone, and mobile. The standalone sub-segment is anticipated to showcase significant growth through the review period due to mounting demand from entertainment venues, large malls, and hypermarkets.

Based on application, the market has been segregated into hospitality, healthcare, retail, entertainment, travel, and others. The self-checkout system market from the healthcare sub-segment is slated to garner substantial gains over the study timespan. Rising adoption of advanced digital technology in the rapidly expanding healthcare industry is estimated to boost product demand over the following years.

From the regional perspective, the North America self-checkout system market is foreseen to witness considerable revenue growth by 2027. The booming hospitality sector in the United States, which is incorporating advanced solutions to ensure customer satisfaction, is predicted to drive regional market expansion over the forecast timeline.