Report Code: A09775 | Pages: NA | Mar 2023 | 2382 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Self-checkout System Market
Request Now !Self-checkout (also known as self-service checkout and SACAT) machines offer customers with a system to handle their own payments to a retailer. They are a substitute to the conventional checkout by cashier staff. Self-checkout systems address shortage of labor issue, automatically offering product scanning services and offering product information with its quality. Self-checkout is a multi-billion market and also is set to grow at a significant rate due to factors like the need to improve customer satisfaction, the necessity to decrease waiting times in retail supermarket chains and the low cost of self-checkout.
The global self-checkout system market is segmented on the basis of offering, mounting type, model type, end users and region. Based on offering, the market is divided into hardware, software, and services. In terms of mounting type, the market is categorized into standalone and wall mounted & countertop. On the basis of model type, the market is divided into cash model and cashless model. On the basis of end users the market is divided supermarkets, hypermarkets and department stores, convenience stores, others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
Key players operating in the global self-checkout system industry include NCR Corporation, Toshiba Corporation, Diebold Nixdorf Incorporated, Fujitsu Limited, IBM Corporation, ITAB Scanflow AB, ECR Software Corporation, PCMS Group Ltd., Slabb Inc, and ShelfX Inc.. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global self-checkout system market.
Market Scope and Structure Analysis
Report Metric | Details |
Market Size Available For Years | 2020–2027 |
Base Year Considered | 2019 |
Forecast Period | 2020–2027 |
Forecast Units | Value (USD) |
Segments Covered | Offering, Mounting Type, Model Type, End Users, and Region |
Regions Covered | North America (Canada, Mexico, U.S.), Europe (France, Germany, UK, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Rest of Asia-Pacific), LAMEA (Africa, Latin America, Middle East) |
Companies Covered | Major players analyzed are NCR Corporation, Toshiba Corporation, Diebold Nixdorf Incorporated, Fujitsu Limited, IBM Corporation, ITAB Scanflow AB, ECR Software Corporation, PCMS Group Ltd., Slabb Inc, and ShelfX Inc. |
COVID-19 Scenario Analysis
Rapid growth in self-service solutions in the hospitality sector to speed order processes at fast food joints would fuel market growth in the self-checkout system over the coming years. The systems are experiencing the implementation of Near-Field Communication (NFC) technology, and the rising card payment trend will drive cashless system demand. The emergence of various supermarket chains, like Safeway, Wal-Mart, Kroger and Tesco, and the increasing need to reduce customer waiting times have resulted in increased retail space automation.
These solutions benefit from quicker checkout, improved customer service and the removal of long queues. The growth of global self-checkout system market is limited by factors including lack of knowledge of this program as well as the concerns regarding customer struggles in managing the process and the increased risk of theft.
Due to their high prominence among retailers and consumers, as opposed to the cashless model type, the cash model type dominated the self-checkout systems segment. Many customers prefer the ability to make payment by cash or by card, or both. The cash model style systems offer the customers versatility in payment, thereby increasing their popularity.
Wall-Mounted and Countertop Model to Rise at the Highest CAGR During the Forecast Period
The self-checkout system market of wall-mounted and countertop mounting form is anticipated to see substantial growth over the coming years. The space needed to install the countertop or wall-mounted systems is typically smaller than that necessary for stand-alone systems; this has resulted in increased demand from retail stores for wall-mounted and countertop self-checkout systems without space constraints.
North America is one of the major self-checkout system market. The rapid development and penetration of new & advanced technologies in North America can be linked with the high demand for self-checkout system. Furthermore, the presence of a large number and categories of retail stores such as hypermarkets, department stores, supermarkets, convenience stores, among others.
Key companies are designing emerging technology and introducing new products to remain competitive in the marketplace. Certain strategic approaches include acquisitions and mergers, and the creation of new goods. Several countries, such as India, South Africa, and Germany, have an investment opportunity for self-checkout systems. Judging by the outlook, manufacturers look forward to launching the systems in such countries, as they are anticipated to provide them with profitable investments.
Key Segments Covered
Segments | Sub-Segments |
Offering |
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Mounting Type |
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Model Type |
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End User |
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Key Benefits of the Report
Questions Answered in the Self-Checkout System Market Research Report
Self-Checkout System Market Report Highlights
Aspects | Details |
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By Type |
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By Component |
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By Application |
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By Region |
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Key Market Players | Diebold Nixdorf, Incorporated, ECR Software Corporation, FUJITSU, Gilbarco Inc., ITAB Group, NCR Corporation, Pan-Oston, PCMS Group Ltd., StrongPoint, Toshiba Global Commerce Solutions |
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