Global Self-Checkout System Market is valued at USD 3975.8 Million in 2021 and expected to reach USD 9469.9 Million by 2028 with a CAGR of 13.2% over the forecast period.
Global Self-Checkout System Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- Increasing demand for speedy checkout, rising demand for digital transformation, and growing technological advancements are some of the major factors driving the growth of the Global Self-Checkout System Market.
Self-checkout also referred to as the self-service checkout machine, provides a mechanism for customers to process their own purchases from the retailer. They deployed it as an alternative to the traditional cashier-employee checkout. Self-checkout systems offer various benefits such as reduced labor costs, reduced waste compared to cash registers, more efficient pre-orders, and bulk purchases, and they provide convenience for retail and restaurants as they allow customers to customize their orders. Self-checkout systems include a variety of technologies, such as barcodes, digimarc barcodes, RFID, etc. Self-checkout systems are automated systems deployed in retail, grocery stores, and the hospitality industry that help customers checkout and self-order without any staff assistance.
The Covid-19 pandemic has shown a mixed impact on the growth of the global self-checkout system market. The spread of Covid-19 prompted governments around the world to adopt several precautionary measures. Many retailers have adopted business models ranging from zero-touch practices to remote working at high rates. These practices have created avenues as well as challenges for market growth. Furthermore, the limited availability of employees in retail stores promoted a self-service shopping experience, in which customers selected the products they needed without the intervention of an employee to guide them on product details.
The global self-checkout system market is segmented based on the solution, model, transaction, application, region & country level. Based on the solution, the global self-checkout system market is segmented into service, hardware, and software. By model, the global self-checkout system market is segmented into the wall–mounted/countertop, standalone, and mobile. By transaction, the global self-checkout system market is segmented into cashless, and cash–based. By application, the global self-checkout system market is segmented into retail, entertainment, healthcare, travel, hospitality, and others.
The regions covered in the global self-checkout system market report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. Based on country level, the market of global self-checkout system is sub divided into U.S., Mexico, Canada, U.K., France, Germany, China, Italy, India, Japan, Southeast Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc.
Some major key players for the global self-checkout system market report cover prominent players like
On November 19th, 2020; a California-based tech maker launched a self-checkout machine for Shopify Retail store owners launched Shopify sites due to Covid-19 restrictions offering contactless self-checkout with McDonald's-style kiosks. Fully automated self-checkout machines connect directly to Shopify so retailers use one centralized system to manage all their products and orders, in-store & online.
On July 15th, 2020; Sunnybee Market, a chain of food stores in Chennai, introduced India's first-of-its-kind self-checkout store at Besant Nagar, Chennai, keeping in mind the need for a secure shopping experience by limiting contact & improving the overall speed of checkout. WayCool Labs the technology arm of WayCool Foods and Products, a leading agritech firm based in Chennai, has developed this custom solution for SunnyBee.
One of the major factors driving the growth of the self-checkout system market is the increasing demand for speedy checkout. Many of the end-use sectors such as restaurants and retail are focused on fast checkout speeds to provide effective service to a large number of customers. Fast, easy, and efficient checkouts result in a great user experience. For the retailer, it translates into fewer checkout abandonments and more conversions. Furthermore, the express checkout system is designed to return customers who narrow down the field, to ensure a quick checkout process. Self-checkout systems offer efficient and fast checkout services with a standardized experience across a variety of devices. This enables customers to continue shopping without leaving the shopping platform. For instance; on May 13th, 2020; Decathlon Deutschland launched scan & go with MishiPay.
In addition, the rising demand for digital transformation is also supplementing the growth of the self-checkout system market. Increasing digitization, connectivity, and data are key aspects that drive digital transformation. Industries apply digitalization to create new products and services to improve customer acceptance. Self-checkout solutions help customers shop and enable digital and contactless payments without the need for retail staff. The adoption of electronic payment processes has increased the demand for checkout systems. These checkout systems are deployed to reduce waiting time and provide users with a ground-breaking shopping experience. Moreover, the growing technological advancements are also supplementing the self-checkout system market growth. For instance; on April 14th, 2021; Fujitsu Frontech launched a hybrid self-checkout solution. Fujitsu Frontech North America Inc., released U-Scan Elite, its sixth-generation self-checkout unit. Built with the Fujitsu cash automated solution Smartcash as its foundation, and U-Scan Elite is designed to offer a small footprint, high-capacity bill and coin recycling self-checkout solution.
However, increased loss of inventory and strict lockdown guidelines associated with the self-checkout systems may hinder the growth of the global self-checkout system market. Despite that, increasing digitalization, and the well-established and widespread presence of retail networks like supermarkets and hypermarkets may create more opportunities for the further growth of the global self-checkout system market.
Geographically, North America is expected to dominate the global self-checkout system market within the forecast period due to the increasing online payments, rising adoption of the self-checkout system, and growing retail in-store transformation in this region. Increasing online payments is driving the growth of the market. In addition, the rising adoption of self-checkout systems is another factor supplementing the market growth in this region. For instance; on march 24th, 2022; bp introduced Mashgin’s instant, touchless self-checkout technology at Bay Area ampm stores.
The Asia Pacific is the fastest-growing region in the global self-checkout system market due to the increasing adoption of AI-based self-checkout systems, rise in the retail and hospitality industry, and growing automation and digitization trend in this region. For instance, on January 11th, 2019; Fujitsu announced a new solution that uses Artificial Intelligence (AI) to cut fraud at supermarket self-checkouts.
|2018 - 2021
|2021 - 2028
|Market Size in 2021:
|USD 3975.8 Million
|Base year considered
|Forecast Period CAGR %:
|Market Size Expected in 2028:
|USD 9469.9 Million
|Tables, Charts & Figures:
|Toshiba Global Commerce Solutions, DXC Technology, IBM Corporation, ITAB Group, NCR Corporation, Pan-Oston Corporation, ShelfX Inc., Slabb Inc., Diebold Nixdorf, Inc., Fujitsu, Wheelys Café Incorporated, Standard Cognition, and others.
|By Solution, By Model, By Transaction, By Application, By End-User.
|North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa
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