The latest report by IMARC Group, titled “Self-Checkout Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global self-checkout systems market reached a value of US$ 3.8 Billion in 2021. Self-checkout systems refer to the process of paying for one’s item via a self-service checkout machine in a retail setting. They allow customers to process their purchases from a retailer instead of the conventional cashier-staffed checkout system. Self-checkout systems consist of touchscreen panels, barcode scanners, basket stands, weighing scales, and payment modules. The process involves using an easy and basic interface that can be used by anyone with ease. Self-checkout systems offer various advantages such as reduced labor costs, decreased waste items, efficient pre-order, and bulky purchases. They also provide various payment options, including credit and mobile payments, making transactions simpler for foreign and local customers.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Self-Checkout Systems Market Trends:
The market is primarily driven by the increasing retail consumers and their waiting time during the checkout process. Besides this, the inflating labor costs and shortage of skilled laborers have led to an ongoing transformation in the retail sector to reduce costs and increase productivity. This has led to the integration of automation in the sector and the emerging trend of unmanned stores. For instance, Fujitsu’s U-Scan and Impulse self-checkout systems include themes, customer personalization, and charitable donation applications to help retailers maximize their merchandise, promote brand presence, and increase advertisement space in the store. In addition to this, self-checkout systems are gaining preference with the spread of the coronavirus disease (COVID-19) pandemic. This has resulted in the introduction of touch-free, cashless transactions and the utilization of AI and machine learning systems that can scan all the products instantly and direct consumers for payments. On account of these factors, the market is expected to grow at a CAGR of
13.6% during the forecast period (2022-2027).
- Based on the offering, the market has been segmented into hardware, software, and services.
- On the basis of the model type, the market has been classified into cash and cashless model types.
- The market has been categorized based on the mounting type into stand-alone, and wall-mounted and countertop mounting.
- On the basis of the end user, the market has been segregated into supermarkets and hypermarkets, departmental stores, convenience stores, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Diebold Nixdorf Inc., Digimarc Corporation, ECR Software Corporation, Fujitsu Limited (Furukawa Group), IBM Corporation, ITAB Scanflow AB, NCR Corporation, Pan-Oston Co., PCMS Group Inc., and Toshiba TEC Corporation.
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