DUBLIN, January 24, 2022--(BUSINESS WIRE)--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.
International Business Machines Corporation
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/yv6suq
View source version on businesswire.com: https://www.businesswire.com/news/home/20220124005503/en/
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