Global self-checkout systems market is projected to exhibit a CAGR of over 10% during the forecast period, growing from $ 3.7 billion in 2018 to $ 6.5 billion by 2024, on account of growing deployment of self-checkout systems at various industrial domains such as entertainment, healthcare and retail stores. Self-checkout systems solve the problem of labor shortage, offering services of scanning the product and providing details of the product with its price, automatically. Self-checkout system is a multi-billion market and is poised to grow at a high rate, on account of factors such as need to enhance customer experience, reduce waiting time at retail supermarket chains and low-operational cost of self-checkout systems.
Global self-checkout systems market can be segmented based on offering, transaction type, model, enterprise size and end user. Based on the offerings, the market can be segmented into hardware, software and services. In 2018, hardware segment held nearly half of global self-checkout systems market, backed by the presence of several manufacturers offering hardware components. On the basis of transaction type, the market can be bifurcated into cashless and cash segments. Now a days, more and more people are opting for the cashless option, on account of lesser complexity and lower prices, resulting in its fastest growth rate during the forecast period. On the basis of model type, countertop and mobile are the preferred models, as they occupy less space when compared with standalone models.
Regionally, the market for self-checkout systems is gaining traction and expanding to various regions including Asia-Pacific, North America, Europe, South America and the Middle East & Africa. Due to the early adoption of advanced technologies and presence of several stores and hypermarkets, North America is registering extensive adoption of self-checkout systems.
Major players operating in global self-checkout systems market are NCR Corporation, Toshiba TEC Corporation, Diebold Nixdorf Incorporated, Fujitsu Limited IBM Corp., ITAB Scanflow AB, ECR Software Corporation, PCMS Group Ltd, Computer Hardware Design, Ltd. and Slabb Inc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. ITAB Scanflow and Toshiba entered into an agreement, under which the latter company started selling and integrating ITAB’s systems in the market.
Years considered for this report:
- Historical Years: 2014-2017
- Base Year: 2018
- Estimated Year: 2019
- Forecast Period: 2020-2024
Objective of the Study:
- To analyze and forecast global self-checkout systems market size.
- To classify and forecast global self-checkout systems market based on offering, transaction type, model, enterprise size, end user and regional distribution.
- To identify drivers and challenges for global self-checkout systems market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global self-checkout systems market.
- To conduct the pricing analysis for global self-checkout systems market.
- To identify and analyze the profile of leading players operating in global self-checkout systems market.
Some of the leading players in global self-checkout systems market are NCR Corporation, Toshiba TEC Corporation, Diebold Nixdorf Incorporated, Fujitsu Limited IBM Corp., ITAB Scanflow AB, ECR Software Corporation, PCMS Group Ltd, Computer Hardware Design, Ltd. and Slabb Inc.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the globe.
TechSci Research calculated global self-checkout systems market size by using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Manufacturers of self-checkout systems
- Research organizations and consulting companies
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to self-checkout systems
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global self-checkout systems market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market, by Offering:
- Market, by Transaction Type:
- Market, by Model:
- Market, by Enterprise Size:
o Large Enterprise
- Market, by End user:
o Financial Services
- Market, by Region:
o North America
Rest of Europe
Rest of Asia-Pacific
o South America
Rest of South America
o Middle East & Africa
Rest of Middle East & Africa
Company Profiles: Detailed analysis of the major companies present in global self-checkout systems market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).