The global self-service technology market size reached US$ 32.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 51.6 Billion by 2027, exhibiting a growth rate (CAGR) of 7.8% 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-service technology (SST) offers an interface through which users can obtain services without the direct involvement of service firms. It provides direct assistance to users, reduces labor costs and improves business productivity. It is generally combined with user-friendly administrative tools to offer continuous digital support without hiring additional service agents. It can be utilized to scan an item in-store and withdraw cash at an automated teller machine (ATM). At present, the widespread adoption of information technology (IT) is expanding the usage of SST in mobile banking and online shopping applications.
Global Self-Service Technology Market Trends and Drivers:
The rising dependence on smartphones, increasing utilization of social media and the advent of the Internet of Things (IoT) are among the key factors bolstering the market growth. Moreover, as it is convenient and saves time, SST is finding applications in small and medium-sized enterprises (SMEs) to improve the overall consumer experience. Furthermore, with the burgeoning e-commerce sector, SST is gaining traction across fast-food restaurants to enable online food delivery. The escalating utilization of barcode scanners in the healthcare industry to manage medical records and medications of patients is also contributing to the market growth. Apart from this, the growing travel and tourism sector is expanding the application of SST in self-check-in machines at airports, parcel tracking, and booking accommodation and flights. Moreover, the increasing utilization of online banking services is anticipated to positively influence the adoption of SST in the banking, financial services and insurance (BFSI) sector worldwide.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global self-service technology market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product and application.
Breakup by Product:
Breakup by Application:
Travel and Tourism
Breakup by Region:
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being AZKOYEN SA, Crane Co., Diebold Nixdorf Incorporated, Fujitsu Limited, GRGBanking, HESS Cash Systems GmbH, HYOSUNG TNS Inc. (Hyosung Corporation), KIOSK Information Systems Inc., NCR Corporation and Toshiba Corporation.
Key questions answered in this report:
How has the global self-service technology 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-service technology market?
What are the key regional markets?
What is the breakup of the market based on the product?
What is the breakup of the market based on the application?
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-service technology market and who are the key players?
What is the degree of competition in the industry?