DUBLIN, Jan. 24, 2022 /PRNewswire/ -- The "Self-Checkout Systems - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Self-Checkout Systems Market to Reach US$5.9 Billion by the Year 2026
Amid the COVID-19 crisis, the global market for Self-Checkout Systems estimated at US$3.1 Billion in the year 2020, is projected to reach a revised size of US$5.9 Billion by 2026, growing at a CAGR of 11.5% over the analysis period.
Growth in the global market is set to be driven by the technology's ability to reduce waiting time at retail stores like supermarkets and convenience stores, thus enhancing customers` shopping experiences and lowering operational expenses of stores. The growth of the self-checkout system market is likely to be significantly impacted by the expansion of retail industry, and the level of technology adoption by retail industry players.
The growing reliance of consumers on digital payment technologies and the provision for the such payments to be made in self-checkout systems augurs well for the market. The growth in the market is likely to be significantly impacted by the expansion of retail industry, and the level of technology adoption by retail industry players.
The growing reliance of consumers on digital payment technologies and the provision for the such payments to be made in self-checkout systems augurs well for the market. With labor shortage becoming a major issue for all industry verticals particularly in view of the ongoing pandemic, the role of self-checkout technologies is likely to play a role in addressing the labor shortage issue facing retail industry to some extent.
Systems, one of the segments analyzed in the report, is projected to grow at a 10.8% CAGR to reach US$3.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 12.5% CAGR for the next 7-year period. This segment currently accounts for a 41.8% share of the global Self-Checkout Systems market.
The U.S. Market is Estimated at $1.4 Billion in 2021, While China is Forecast to Reach $814.8 Million by 2026
The Self-Checkout Systems market in the U.S. is estimated at US$1.4 Billion in the year 2021. The country currently accounts for a 41.38% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$814.8 Million in the year 2026 trailing a CAGR of 16.4% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.3% and 11.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 10.5% CAGR while Rest of European market (as defined in the study) will reach US$930.8 Million by the end of the analysis period.
Developed regions of North America, Europe, and Japan account for a major share of the market. The well-established and widespread presence of retail networks like supermarkets and hypermarkets and the high level of digitalization in the regions are presenting opportunities for adoption of self-checkout systems.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of COVID-19 Pandemic and Looming Global Recession
- 2020: A Year of Disruption & Transformation
- As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021?
- COVID-19 Outbreak Impacts Investments into Self-Checkout Technologies
- Amidst the Pandemic, Contactless Checkout Systems Come to the Fore
- Despite Potential Infection Risks, Use of Touchscreens in Self-Checkout Systems to Continue
- An Introduction to Self-Checkout System
- Global Market Prospects & Outlook
- Cashless Model Poised for High Growth
- Supermarkets Emerge as Leading End-Use Markets for Self-Checkout Systems
- Developed Regions Lead, Developing Economies to Foster Long-term Growth
- Select Innovations in Self-Checkout Systems Market
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 75 Featured)
- Diebold Nixdorf, Inc.
- ECR Software Corporation
- Fujitsu Frontech North America, Inc.
- Fujitsu Limited
- IER SAS
- International Business Machines Corporation
- ITAB Group
- NCR Corporation
- Pan-Oston Company
- Slabb Inc.
- SPAR International
- Toshiba Global Commerce Solutions
- Toshiba Tec Corporation
3. MARKET TRENDS & DRIVERS
- Increasing Demand for Self-Checkout Systems from Various Formats of Retail Stores to Boost Market Growth
- Myriad Benefits of Self-Checkout Systems for Customers and Businesses to Drive Adoption
- Self-Service Checkout Systems Help Improve In-Location Experience
- Common Self-Checkout Systems: Analyzing the Major Advantages and Disadvantages
- Self-Checkout Systems in Walmart: A Case of Enhancing Shopping Experiences of Customers
- Digital Transformation of Retail Sector: An Opportunity for Self-Checkout Systems Market
- Top Digital priorities for Retailers
- Consumer Inclination towards Self-Service Solutions Bode Well for Self-Checkout Systems Market
- Self-Checkout Systems Market to Benefit from the Growing Labor Shortage Issues
- Rapid Growth of Digital Payments Supports Growth of SCO Market
- Flexibility & Convenience of Mobile Self-Checkout Systems to Fuel Market Prospects
- Mobile Self-Checkouts to Assist Retailers and Customers in Post-COVID-19 Period
- Rising Penetration of Smart Mobile Devices to Boost Adoption of Self-Checkout Systems
- Numerous Benefits of Scan & Go Technology Drives Adoption
- Emerging Concept of Unmanned Stores Bodes Well for Deployment of Self-Checkout Systems
- Autonomous Checkout Systems Pave Path for Future of Retail Stores
- AI Enables Retailers to Enhance Self-Checkout Experience for Customers
- AI-Powered Cameras to Spot Dodgy Shoppers at Self-Checkouts
- AI to Improve Checkout Security
- Self-Checkout Innovations Gather Steam
- Amidst the COVID-19 Pandemic, Food Retailers Move Towards Self-Checkout Technologies
- Sustained Importance of Grocery Retailers During Pandemic Presents Opportunity for Self-Checkout Systems
- Department Stores Adopt Self-Checkout Systems
- Drawbacks of Self-Checkout Systems Challenge Market Adoption
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/xz5re
Research and Markets
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