Self-checkout Systems Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Self-checkout Systems Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : May, 2020 | Semiconductor & Electronics | PPT format

Report Digest


Global Self-checkout Systems Market: Overview 

Continuing to extend its popularity in global retail and shopping stores, self-checkout systems cancel the need for human assistance or a retail agent by automating the checkout process, which includes making payments and scanning and bagging purchased items. These systems are a massive investment for retailers and thus, they need to be user-friendly and intuitive. While the systems are still far from being perfect, it opens an opportunity for vendors to showcase their innovation and make a competitive progress in the self-checkout systems market. 

Global Self-checkout Systems Market: Key Trends 

With a probable double-digit CAGR, the international self-checkout systems market is projected to aggravate its growth as it witnesses an expanding deployment of the systems in different retail arrangements such as convenience and department stores, hypermarkets, and supermarkets. Retailers are expected to adopt these systems at a telling rate because of their business-profiting benefits such as reduction in the operational cost of stores, more personalized services in store offerings, and decrease in checkout time. Hardware offerings such as weighing scale, payment related hardware, price reader, and display device are prognosticated to gain impetus in the coming years. 

The inflated risk of inventory loss on the part of retailers and unwillingness of customers to use the product could affect the growth of the global self-checkout systems market. However, lesser complexity, lower price, and other key advantages facilitated by the cashless model are anticipated to augment the adoption rate of self-checkout systems. Market players can look to penetrate large as well as small retail formats by allowing retailers to offer greater control, privacy, and convenience to their customers with self-checkout systems. 

Global Self-checkout Systems Market: Market Potential 

The Las Vegas ecommerce and retail event Shoptalk unveiled the reimagined future design of Target’s Houston store as the chairman and CEO said the company is set to spend billions of dollars to give a new experience to its customers. Installed only a few steps away from each other, the reimagined store will feature an order pickup counter and self-checkout lanes for the time-starved customers. By the latest in October 2017, 40 additional Target stores will receive the new design along with the store in Houston. This reimagine design is part of the company’s aim to meet its customers’ shopping needs by creating a smart network to work alongside supply chain and digital channels. 

Long Island Expressway (LIE) Welcome Center, a rest stop in New York, has also publicized its intentions to replace cashiers with self-checkout kiosks. 

Global Self-checkout Systems Market: Regional Outlook 

Due to the sweeping presence of various retail formats in the region, North America is forecasted to lead the global self-checkout systems market, putting behind other significant geographies of the industry. Followed by Mexico and Canada, the U.S. could be attributed for North America’s larger share in the market. Next to be lined under the list of top regional markets for self-checkout systems are Europe and Asia Pacific with decent growth opportunities for manufacturers. 

The growing retail industry in India coupled with a rising count of modern retail stores installed, Asia Pacific is predicted to emerge as a promising ground for market players. Europe, too, is envisaged to exhibit a continuous and steady growth in demand as an elevating number of convenience stores adopt self-checkout systems. Other regions could show some progress in the world self-checkout systems market as they feel the need to cater to the dynamic demands of customers and the urge to operate in line with today’s technological advancements. 

Global Self-checkout Systems Market: Competitive Landscape 

Some of the crucial players functioning in the worldwide self-checkout systems market are ITAB Scanflow, Diebold Nixdorf, Inc., Fujitsu Limited, Toshiba TEC Corporation, and NCR Corporation. Industry players could be focusing on supermarkets, hypermarkets, and other large retail formats to increase their presence as these stores accommodate a high flow of customers and more number of checkout counters. Likewise, they are prophesied to find opportunities in other leading segments of the market.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.

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