Dublin, Jan. 09, 2019 (GLOBE NEWSWIRE) -- The "Self-Checkout Systems Market by Offering - Global Market Size, Share, Development, Growth, and Demand Forecast, 2013-2023" report has been added to ResearchAndMarkets.com's offering.
Global self-checkout systems market is expected to reach $4,642.7 million by 2023, advancements in technology, growing consumer inclination toward convenient checkout methods, and labor-shortage issues in consumer stores are the major factors contributing to the market growth.
Insights on market segments
On the basis of offering, the self-checkout systems market has been categorized into hardware, software, and services, of which software is expected to be the fastest-growing category, advancing at a CAGR of 12.9% during the forecast period. This can be attributed to the growing use of various types of software to support checkout technologies with interactive functionalities. Furthermore, the growing acceptance of advanced technologies among customers is resulting in the increased demand for checkout software in stores.
During the forecast period, the service category is expected to surpass the hardware and software categories in terms of revenue generation. This can be attributed to the growing installation and maintenance needs resulting from the increased usage of self-checkout machines.
Based on model type, the market has been divided into cash-based and cashless models. Between the two, cash-based models contributed larger revenue share, accounting for more than 85%, to the self-checkout systems market in 2017. Customers, especially the elderly population, are more comfortable making purchases with cash. Although they are adapting themselves to new technologies, they are still not completely comfortable with the idea of cashless shopping.
Untapped markets and advancements in technology are offering lucrative opportunities to the market players
The self-checkout systems market in countries such as India, South Africa, and Germany is still untapped. With huge market potential and high population, these countries are offering ample growth opportunities to the players in the market. Presently, Germany and South Africa have a small market for these systems, but these are expected to grow on account of increasing awareness and adoption of the self-checkout technology.
Increasing use of mobile-scanning solutions and enhanced security features is another key factor offering lucrative growth opportunities to the vendors operating in the self-checkout systems market over the next few years. Besides, increased adoption of advanced technologies, such as radio frequency identification and near-field communication is leading to increased demand for self-checkout systems in the market.
Self-checkout systems market competitiveness
Players in the self-checkout systems market are focusing on improving self-checkout software and hardware functionality with technology that is simple and effective and increases customer convenience during the checkout.
Some of the key players operating in the self-checkout systems market are NCR Corporation, Fujitsu Limited, Toshiba TEC Corporation, PCMS Group Ltd., Diebold Nixdorf Incorporated, and International Business Machines Corporation (IBM).
Key Topics Covered:
Chapter 1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.4 Key Stakeholders
Chapter 2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study
Chapter 3. Executive Summary
3.1 Voice of Industry Experts/ Key Opinion Leaders (KOLs)
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Offering
4.1.1.1 Hardware
4.1.1.2 Software
4.1.1.3 Services
4.1.2 By Model Type
4.1.2.1 Cash model
4.1.2.2 Cashless model
4.1.3 By Mounting Type
4.1.3.1 Standalone
4.1.3.2 Wall-mounted and countertop
4.1.4 By Vertical
4.1.4.1 Entertainment
4.1.4.2 Healthcare
4.1.4.3 Hospitality
4.1.4.4 Retail
4.1.4.5 Travel
4.1.5 By Retail Store
4.1.5.1 Hypermarkets
4.1.5.2 Supermarkets and departmental stores
4.1.5.3 Convenience stores
4.1.5.4 Others
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Growing focus on contactless payment
4.3.1.2 Introduction of new technologies
4.3.2 Drivers
4.3.2.1 Ease of use
4.3.2.2 Increases checkout speed and reduces operational cost
4.3.2.3 Caters to labor-shortage issues
4.3.2.4 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 Reluctance to use self-checkout systems among elderly users
4.3.3.2 Increasing risk of inventory loss
4.3.3.3 Impact analysis of restraints on market forecast
4.3.4 Opportunity
4.3.4.1 Growing traction in untapped markets and rising labor cost
4.4 Porter's Five Forces Analysis
Chapter 5. Global Market Size and Forecast
5.1 By Offering
5.2 By Model Type
5.3 By Mounting Type
5.4 By Vertical
5.5 By Retail Store
5.6 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. RoW Market Size and Forecast
Chapter 10. Competitive Landscape
10.1 Competitive Analysis of Key Players
10.2 Product Benchmarking of Key Players
10.3 Global Strategic Developments of Key Players
10.3.1 Product Launches
10.3.2 Partnerships
10.3.3 Facility Expansions
10.3.4 Client Wins
Chapter 11. Company Profiles
- Fujitsu Limited
- Toshiba TEC Corporation
- PCMS Group Ltd.
- NCR Corporation
- Diebold Nixdorf Incorporated
- International Business Machines (IBM) Corporation
- Tesco PLC
- Crane Payment Innovations (CPI)
- Olea Kiosks Inc.
For more information about this report visit https://www.researchandmarkets.com/research/g3nbw8/2018_4_64?w=12
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.