Press release
Retail Self-Checkout Terminals Market 2023 Industry Trends, Future Demands, Growth Factors, Emerging Technologies
Market Scenario
Self-checkout system is an automated process system that enables shoppers to scan, pack, and pay for their purchases without human intervention. They are an alternative to the traditional cashier-staffed checkout systems. Increasing use and importance of the internet and technological advances are significantly impacting marketing strategies and enhancing usage of self-service technologies. Integration of computer, telecommunication and internet technologies are widely used for a variety of service delivery purposes, especially in the retail ecosystem. Additionally, last decade has witnessed advancement in technology that is able to cater preferences of both retailers and consumers. Touch screen displays, smart mirrors, automatic payment modalities, RFID, and mobile applications are some of the evolved devices in usage in the retail ecosystem.
Global retail self-checkout terminals market was valued at a worth about USD 2,698 million in 2021 and is estimated to grow at a CAGR of 10.60% during the forecast period 2022-2031.
Market Dynamics
The prime driver of the self-checkout systems is the speed at which customers can check out and pay for their purchases. Customers are willing to ring up the purchase by themselves rather than waiting in long lines that get crowded up by customers waiting to pay. It helps during peak sales time when footfall of the stores is high.
Emerging models and technological advancement in self-checkout arena have increased the growth of the retail industry by 3%. Global Shopper Study indicates 86% of retailers plan to invested in handheld mobile computers, barcode scanners, and tablets in 2021 to empower customer's engagement through inventory knowledge and promote self-checkout habits.
Download a Sample Copy of Retail Self-Checkout Terminals Market: https://analyticsmarketresearch.com/sample-request/retail-self-checkout-terminals-market/43449/
Recently, Amazon Go opened its partially automated retail stores in Seattle, Washington. It incorporates several technologies including computer vision, deep learning algorithms, and sensor fusion to automate purchase, checkout and payment transactions. The company now plans to open 3000 more stores across the U.S by 2024.
Intended Audience
• Self-checkout counter manufacturers
• Retail Companies
• Software and Hardware Vendors
Market Segmentation
The global retail self-checkout terminals market has been segmented by self-scanning technique, checkout systems, payment method, and applications.
Based on self-scanning technique market is segmented into laser-based, image-based, RFID, and others. Laser based technique holds about 33% share in the global market, owing to large adoption of laser technology in every aspect of an industry. Furthermore, growing advancement in the technology is also estimated to fuel the market growth during the forecast period 2022-2031. The physicists from the U.K developed a technology that is a combination of lasers and complex optical components which provides reliable & fast barcode scans for easy checkouts in retail stores as well as for efficient storage and transport of products. RFID based is estimated to grow at a fastest rate with a CAGR of 10.90%. According to Institute of Physics (IOP), London, RFID tags are estimated to create more than USD 10 billion markets per year during the forecast period of 2022-2031.
Based on checkout systems market is segmented into modular, carousel units, kiosk/ mobile self-checkout, and others. kiosk/ mobile self-checkout system is estimated to achieve a fastest growth with a CAGR of 10.20% during the forecast period. Kiosks provide information about various product to customers as well as virtual image of the product that is not available in store, provide access to customer reviews, and pick-up or the delivery option of groceries. Moreover, retail associates can also benefit digital kiosks for improving customer services and sales process further.
Based on payment method market is segmented into debit/credit cards, e-wallets, cash slot machine, and others. Below figure shows, the overview of payment method at self-checkout counter
The demand for debit/credit card models is expected to witness a huge growth over the forecast period owing to the customer preference toward the cashless payment. Apart from this, added benefits of cashless models including less complicated system and lower price are driving the demand for cashless self-checkout terminals market.
As per the recent report by the U.S. Federal Reserve Survey, card usage across the United States is growing. Every year credit card usage is growing by seven percent as people spend more and frequently using a credit card.
E-wallets is one of the most preferred payment methods using a smartphone. Almost all digital wallets are either based on a barcode or a built-in Near Field Communication (NFC) chip technology. At the store's self-checkout area, the customer can check out quickly and easily paying with e-wallet, a card, without standing in the queues.
The market is witnessing growing trend of contactless payment using NFC technology and smartphone-enabled payment options, which are expected to propel the industry growth for e-wallet payment over the forecast period.
Based on application market is segmented into supermarket, retail store, and others. Below statistics depicts the adoption of self-checkout in the retail environment.
The supermarket is big and has a wider selection of products. Adoption of the self-checkouts system in supermarkets is increasing in businesses battle to reduce labour cost and increase service efficiency. According to United States Department of Agriculture, the top four grocery retailers in 2016 were Walmart Stores, Inc., Kroger, Albertson's, and Ahold Delhaize.
Regional Analysis
North America is estimated to hold the major share of about 35% in the global retail self-checkout counter market during the forecast period 2022-2031. The main factor behind this scenario are technological advancement in the self-checkout counters such as automatic mobile payment technology introduced by Amazon, that reduces hectic queues and enhances the customer shopping experiences. Additionally, adoption of efficient strategies by most of the leading companies in the market to overcome such drawbacks is favoring the market growth. In November 2018, NCR acquired Stoplift Checkout Vision System, a company involved in computer vision system technology that primarily focused on preventing theft in a retail environment in self-checkout systems.
Integration of advanced digital technology to increase the efficiency of the self-checkout system and to avoid fraud, malpractices, and theft of products in the retail stores is projected to fuel the market growth during the forecast period 2022-2031. In November 2017, two major supermarkets chains such as Asda and Tesco in the U.K announced its deployment and testing of facial recognition at self-service checkouts mainly to prevent manual identity checks for the purchase of alcohol and cigarettes. This technology has already been installed in four major supermarket chains: Morrisons, Sainsbury's, and others.
Growing adoption of labour-saving technology in retail outlets to overcome worker shortage in Japan is likely to propel the market growth during the forecast period 2022-2031. Additionally, the adoption of Favorable government plans to reduce the labor shortage by introducing the self-checkout system at convenience stores is also contributing to elevating the market growth. In April 2017, Government of Japan in conjunction with Seven-Eleven Japan Co., FamilyMart Co., Lawson Inc., and two other convenience stores plans to introduce a self-checkout system by 2025.
The UAE holds a significant share of the regional market and is the most attractive retail market in the Middle East region owing to several factors including rapid adoption of several strategies to create new jobs in the retail sector and increased focus on modern technology and e-commerce. For instance, in September 2018, the Saudi Arabian government announced its decision to restrict certain retail jobs to nationals with the aim to reduce unemployment among the citizens in the private sector.
Key Players
Major companies operating in the market are Diebold Nixdorf Inc , Digimarc, ECR Self-Scanning Technique (ECRS) Corp., Elo Touch Solutions, Inc, Fujitsu Ltd., , GoSkip, Inc, NCR, Olea Kiosks® Inc., Pan-Oston Co., , Scandit, Toshiba, Versatile Credit.
Direct Purchase Retail Self-Checkout Terminals Market Research Report: https://analyticsmarketresearch.com/purchase/retail-self-checkout-terminals-market/43449/?license=single
By Self-Scanning Technique:
• Laser-based
• Image-based
• RFID
• Others
By Checkout systems:
• Modular
• Carousel units
• Kiosk/mobile self-checkout
• Others
By Payment method:
• Debit/credit cards
• E-wallets
• Cash slot machine
• Others
By Applications
• Supermarket
• Retail Store
• Others
DC description
Amazon go, self-checkout system, RFID counters, retail e-wallet, supermarket counters, laser technology, NCR corporation, Toshiba systems
Frequently Asked Questions
• What is the market size and growth projections?
• What is the market size and growth projection for each of the market segments and sub-segments across Countries & Regions?
• What are the top performing segments, and countries / regions of each of the markets?
• What is the market size and growth rate across key countries / regions?
• How big is the global & regional market in terms of revenue and volume?
• How far market will grow in forecast period in terms of revenue and volume?
• What factors will influence demand and supply trends across each markets during the forecast period?
• What are the technology trends shaping various markets?
• Which country / region has more opportunities?
• What is the COVID-19 impact on the market and how long will it take to recover?
• Who are the key competitors of market Players?
• What are the market share (%) of Key Players?
• What are the Merger & Acquisition, New Product Launch, Recent Development within each of the Markets?
• What are PEST analysis, Ecosystem Analysis, Porter's Five Forecast Analysis, Ansoff Matrix, and SWOT Analysis among other analyses for diverse markets?
Read More: https://analyticsmarketresearch.com/reports/retail-self-checkout-terminals-market/43449/
Contact US:
Analytics Market Research
99 WALL STREET, #2124 NEW YORK, NY 10005
Phone: +1(650)-666-4592
Email: sales@analyticsmarketresearch.com
Web: https://analyticsmarketresearch.com/
About US:
Analytics Market Research is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep rooted market studies and insightful analysis of different markets.
Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. Analytics Market Research is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.
Self-checkout system is an automated process system that enables shoppers to scan, pack, and pay for their purchases without human intervention. They are an alternative to the traditional cashier-staffed checkout systems. Increasing use and importance of the internet and technological advances are significantly impacting marketing strategies and enhancing usage of self-service technologies. Integration of computer, telecommunication and internet technologies are widely used for a variety of service delivery purposes, especially in the retail ecosystem. Additionally, last decade has witnessed advancement in technology that is able to cater preferences of both retailers and consumers. Touch screen displays, smart mirrors, automatic payment modalities, RFID, and mobile applications are some of the evolved devices in usage in the retail ecosystem.
Global retail self-checkout terminals market was valued at a worth about USD 2,698 million in 2021 and is estimated to grow at a CAGR of 10.60% during the forecast period 2022-2031.
Market Dynamics
The prime driver of the self-checkout systems is the speed at which customers can check out and pay for their purchases. Customers are willing to ring up the purchase by themselves rather than waiting in long lines that get crowded up by customers waiting to pay. It helps during peak sales time when footfall of the stores is high.
Emerging models and technological advancement in self-checkout arena have increased the growth of the retail industry by 3%. Global Shopper Study indicates 86% of retailers plan to invested in handheld mobile computers, barcode scanners, and tablets in 2021 to empower customer's engagement through inventory knowledge and promote self-checkout habits.
Download a Sample Copy of Retail Self-Checkout Terminals Market: https://analyticsmarketresearch.com/sample-request/retail-self-checkout-terminals-market/43449/
Recently, Amazon Go opened its partially automated retail stores in Seattle, Washington. It incorporates several technologies including computer vision, deep learning algorithms, and sensor fusion to automate purchase, checkout and payment transactions. The company now plans to open 3000 more stores across the U.S by 2024.
Intended Audience
• Self-checkout counter manufacturers
• Retail Companies
• Software and Hardware Vendors
Market Segmentation
The global retail self-checkout terminals market has been segmented by self-scanning technique, checkout systems, payment method, and applications.
Based on self-scanning technique market is segmented into laser-based, image-based, RFID, and others. Laser based technique holds about 33% share in the global market, owing to large adoption of laser technology in every aspect of an industry. Furthermore, growing advancement in the technology is also estimated to fuel the market growth during the forecast period 2022-2031. The physicists from the U.K developed a technology that is a combination of lasers and complex optical components which provides reliable & fast barcode scans for easy checkouts in retail stores as well as for efficient storage and transport of products. RFID based is estimated to grow at a fastest rate with a CAGR of 10.90%. According to Institute of Physics (IOP), London, RFID tags are estimated to create more than USD 10 billion markets per year during the forecast period of 2022-2031.
Based on checkout systems market is segmented into modular, carousel units, kiosk/ mobile self-checkout, and others. kiosk/ mobile self-checkout system is estimated to achieve a fastest growth with a CAGR of 10.20% during the forecast period. Kiosks provide information about various product to customers as well as virtual image of the product that is not available in store, provide access to customer reviews, and pick-up or the delivery option of groceries. Moreover, retail associates can also benefit digital kiosks for improving customer services and sales process further.
Based on payment method market is segmented into debit/credit cards, e-wallets, cash slot machine, and others. Below figure shows, the overview of payment method at self-checkout counter
The demand for debit/credit card models is expected to witness a huge growth over the forecast period owing to the customer preference toward the cashless payment. Apart from this, added benefits of cashless models including less complicated system and lower price are driving the demand for cashless self-checkout terminals market.
As per the recent report by the U.S. Federal Reserve Survey, card usage across the United States is growing. Every year credit card usage is growing by seven percent as people spend more and frequently using a credit card.
E-wallets is one of the most preferred payment methods using a smartphone. Almost all digital wallets are either based on a barcode or a built-in Near Field Communication (NFC) chip technology. At the store's self-checkout area, the customer can check out quickly and easily paying with e-wallet, a card, without standing in the queues.
The market is witnessing growing trend of contactless payment using NFC technology and smartphone-enabled payment options, which are expected to propel the industry growth for e-wallet payment over the forecast period.
Based on application market is segmented into supermarket, retail store, and others. Below statistics depicts the adoption of self-checkout in the retail environment.
The supermarket is big and has a wider selection of products. Adoption of the self-checkouts system in supermarkets is increasing in businesses battle to reduce labour cost and increase service efficiency. According to United States Department of Agriculture, the top four grocery retailers in 2016 were Walmart Stores, Inc., Kroger, Albertson's, and Ahold Delhaize.
Regional Analysis
North America is estimated to hold the major share of about 35% in the global retail self-checkout counter market during the forecast period 2022-2031. The main factor behind this scenario are technological advancement in the self-checkout counters such as automatic mobile payment technology introduced by Amazon, that reduces hectic queues and enhances the customer shopping experiences. Additionally, adoption of efficient strategies by most of the leading companies in the market to overcome such drawbacks is favoring the market growth. In November 2018, NCR acquired Stoplift Checkout Vision System, a company involved in computer vision system technology that primarily focused on preventing theft in a retail environment in self-checkout systems.
Integration of advanced digital technology to increase the efficiency of the self-checkout system and to avoid fraud, malpractices, and theft of products in the retail stores is projected to fuel the market growth during the forecast period 2022-2031. In November 2017, two major supermarkets chains such as Asda and Tesco in the U.K announced its deployment and testing of facial recognition at self-service checkouts mainly to prevent manual identity checks for the purchase of alcohol and cigarettes. This technology has already been installed in four major supermarket chains: Morrisons, Sainsbury's, and others.
Growing adoption of labour-saving technology in retail outlets to overcome worker shortage in Japan is likely to propel the market growth during the forecast period 2022-2031. Additionally, the adoption of Favorable government plans to reduce the labor shortage by introducing the self-checkout system at convenience stores is also contributing to elevating the market growth. In April 2017, Government of Japan in conjunction with Seven-Eleven Japan Co., FamilyMart Co., Lawson Inc., and two other convenience stores plans to introduce a self-checkout system by 2025.
The UAE holds a significant share of the regional market and is the most attractive retail market in the Middle East region owing to several factors including rapid adoption of several strategies to create new jobs in the retail sector and increased focus on modern technology and e-commerce. For instance, in September 2018, the Saudi Arabian government announced its decision to restrict certain retail jobs to nationals with the aim to reduce unemployment among the citizens in the private sector.
Key Players
Major companies operating in the market are Diebold Nixdorf Inc , Digimarc, ECR Self-Scanning Technique (ECRS) Corp., Elo Touch Solutions, Inc, Fujitsu Ltd., , GoSkip, Inc, NCR, Olea Kiosks® Inc., Pan-Oston Co., , Scandit, Toshiba, Versatile Credit.
Direct Purchase Retail Self-Checkout Terminals Market Research Report: https://analyticsmarketresearch.com/purchase/retail-self-checkout-terminals-market/43449/?license=single
By Self-Scanning Technique:
• Laser-based
• Image-based
• RFID
• Others
By Checkout systems:
• Modular
• Carousel units
• Kiosk/mobile self-checkout
• Others
By Payment method:
• Debit/credit cards
• E-wallets
• Cash slot machine
• Others
By Applications
• Supermarket
• Retail Store
• Others
DC description
Amazon go, self-checkout system, RFID counters, retail e-wallet, supermarket counters, laser technology, NCR corporation, Toshiba systems
Frequently Asked Questions
• What is the market size and growth projections?
• What is the market size and growth projection for each of the market segments and sub-segments across Countries & Regions?
• What are the top performing segments, and countries / regions of each of the markets?
• What is the market size and growth rate across key countries / regions?
• How big is the global & regional market in terms of revenue and volume?
• How far market will grow in forecast period in terms of revenue and volume?
• What factors will influence demand and supply trends across each markets during the forecast period?
• What are the technology trends shaping various markets?
• Which country / region has more opportunities?
• What is the COVID-19 impact on the market and how long will it take to recover?
• Who are the key competitors of market Players?
• What are the market share (%) of Key Players?
• What are the Merger & Acquisition, New Product Launch, Recent Development within each of the Markets?
• What are PEST analysis, Ecosystem Analysis, Porter's Five Forecast Analysis, Ansoff Matrix, and SWOT Analysis among other analyses for diverse markets?
Read More: https://analyticsmarketresearch.com/reports/retail-self-checkout-terminals-market/43449/
Contact US:
Analytics Market Research
99 WALL STREET, #2124 NEW YORK, NY 10005
Phone: +1(650)-666-4592
Email: sales@analyticsmarketresearch.com
Web: https://analyticsmarketresearch.com/
About US:
Analytics Market Research is an established market analytics and research firm with a domain experience sprawling across different industries. We have been working on multi-county market studies right from our inception. Over the time, from our existence, we have gained laurels for our deep rooted market studies and insightful analysis of different markets.
Our strategic market analysis and capability to comprehend deep cultural, conceptual and social aspects of various tangled markets has helped us make a mark for ourselves in the industry. Analytics Market Research is a frontrunner in helping numerous companies; both regional and international to successfully achieve their business goals based on our in-depth market analysis. Moreover, we are also capable of devising market strategies that ensure guaranteed customer bases for our clients.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage
to this press release on woodPRI. woodPRI disclaims liability for any content contained in
this release.
Recommend
/newsMicroencapsulation Market Deep Analysis on Key Players - Dow Corning, Encapsys, Syngenta Crop Protection, Evonik Industries, 3M and Bayer
Market Study Report Adds Global Microencapsulation Market Size, Status and Forecast 2024 added to its database. The report provides key statistics on the current state of the industry and other analytical data to understand the market.
Extensive research is required for choosing the appropriate cor...
/newsGermany Airbag Market Size 2023: Global Share, Industry And Report Analysis By 2030 | Hyundai Mobis Co., Ltd. Key Safety Systems, Inc. Robert Bosch GmbH
Germany airbag market is expected to grow at a CAGR of around 6% during the forecast period. Germany Airbag Market research report refers to gathering and analyzing significant market data serve as best medium for various industry players to launch novel product or service. It is vital for key firms...
/newsSecurities Brokerages And Stock Exchanges Market Outlook 2021: Big Things are Happening
A new intelligence report released by HTF MI with title "Global Securities Brokerages And Stock Exchanges Market Survey & Outlook" is designed covering micro level of analysis by Insurers and key business segments, offerings and sales channels. The Global Securities Brokerages And Stock Exchange...
/newsRenewable Chemicals Market Emerging Trends and Competitive Landscape Forecast to 2028
The renewable chemicals market was valued at US$ 80,566.30 million in 2021 and is projected to reach US$ 1,76,750.76 million by 2028 it is expected to grow at a CAGR of 11.9% from 2021 to 2028. The research report focuses on the current market trends, opportunities, future potential of the market, a...
/newsHow Coronavirus is Impacting Cold Brew Coffee, Global Market Volume Analysis, Size, Share and Key Trends 2020-2026
"Market Latest Research Report 2020:
Los Angles United States, February 2020: The Cold Brew Coffee market has been garnering remarkable momentum in the recent years. The steadily escalating demand due to improving purchasing power is projected to bode well for the global market. QY Research's lates...
/newsCorporate E-Learning Market - Global Industry Size, Share, Key Players Analysis that are Infor, SkillSoft Corporation, Adrenna, CERTPOINT Systems and others with Regional Forecast to 2022
Overview:
E-Learning is used to enhance the learning procedures for newer job requirements and to make employees sound about the internal and external changes in the market and respective organizations. This method has created considerable differences in the ways of training and developing employee...
