Self-Checkout System Market Size By Solution (Hardware, Software, Service), By Transaction (Cash-Based, Cashless), By Model (Standalone, Wall-Mounted/Countertop, Mobile), By Application (Entertainment, Healthcare, Hospitality, Retail, Travel), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2017 – 2024

Published Date: Mar 2018  |  Report ID: GMI2433  |  Authors: Ankita Bhutani, Pallavi Bhardwaj

Report Format: PDF   |   Pages: 250   |   Base Year: 2016




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Self-Checkout System Market size estimated at over USD 2 billion in 2016 and is predicted to grow at 9% CAGR from 2017 to 2024. The worldwide industry shipments are expected to exceed 85 thousand units by 2024.
 

 

UK self-checkout system market, by application, 2017 & 2024 (USD Million)

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The growing demand for self-service solutions in the hospitality sector to expedite order process at fast-food chains will drive the self-checkout system market growth over the coming years. The systems are witnessing the integration of Near-Field Communication (NFC) technology and the surging trend of card payment will drive demand for cashless systems. The proliferation of numerous retail chains, such as Safeway, Wal-Mart, Kroger, and Tesco, and the rising demand to curb wait times for customers has led to increased automation in the retail space. Benefits of such solutions include faster checkout, enhanced customer experience, and the elimination of long queues. Recent technological advancements have also led to the widespread adoption of the systems. For instance, in 2017, Diebold Nixdorf announced the launch of an ultra-thin self-checkout system for the retail market. Moreover, in December 2016, Panasonic announced a fully automated robotic checkout machine that detected and calculated the value of goods using a computerized basket.
 

The adoption of the technology has been relatively slow owing to the high costs of such solution; however, in recent years, with the surging consumer demand for fast checkout, the implementation of these systems has been gaining prominence across varied industry verticals. The industry is regulated by laws about the payment transactions, information security, and accessible design regulations. Such regulations are expected to offer a favorable boost to market growth as customers feel secure with the systems. Different components may be subject to different regulations and standards, such as the FCC standards, for wireless communication band. Moreover, to control the sale of alcoholic beverages at the self-checkout counters, companies are incorporating more stringent application software into their solutions.
 

Self-Checkout System Market Report Coverage
Report Coverage Details
Base Year: 2016 Market Size in 2016: 2 Billion (USD)
Historical Data for: 2013 to 2016 Forecast Period: 2017 to 2024
Forecast Period 2017 to 2024 CAGR: 9% 2024 Value Projection: 4 Billion (USD)
Pages: 250 Tables, Charts & Figures: 396
Geographies covered (17): U.S., Canada, UK, Germany, France, Italy, Russia, China, India, Japan, Singapore, Australia, Brazil, Mexico, Saudi Arabia, UAE, South Africa
Segments covered: Solution, Transaction, Model, Application and Region
Companies covered (16): Diebold Nixdorf, Digimarc Corporation, ECR Software Corp, Fujitsu, IBM, IER, ITAB ScanFlow AB, NCR Corporation, OLEA Kiosks, Pan-Oston Co., PCMS Group, Scandit, ShelfX Inc., Slabb Inc., Toshiba Global Commerce Solutions, Versatile Credit
Growth Drivers:
  • Growing supermarket penetration in the U.S.
  • Rise in minimum wages in Canada
  • Growing contactless payment in the UK
  • Unmanned store concepts in China
  • Proliferation of RFID tagging in Japan
  • Infrastructure development in Latin America
  • Growing tourism in Dubai and South Africa
Pitfalls & Challenges:
  • Low reliability
  • Loss of inventory and shoplifting
  • High upfront cost

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By Solution

In 2016, hardware solutions accounted for over 50% of the self-checkout system market share and are experiencing high growth. The manufacturers in the industry are expanding their business operations around the world by offering innovative technologies and solutions. For instance, mSCS, a mobile self-checkout system, is being widely used in FMCG sectors to speed up customer purchasing and reduce the customer crowd in these stores. Several advanced devices and solutions are being integrated into these checkout systems such as barcode scanner, POS systems, touchscreen monitor, and card readers. Several advantages of these systems such as efficient & speedy checkouts, the requirement of less space, and curtailing of additional labor costs are driving the adoption of these systems in the retail sector. Moreover, rising construction activities in shopping malls, retail outlets, and grocery stores will drive the demand for the interactive self-checkout kiosks in the coming years.
 

By Transaction

The adoption of cash-based systems is falling due to the rising trends of digitalized payments in several countries. Government departments are promoting the adoption of cashless payments to record the transactions and catch the tax evaders. Moreover, these systems use cash collecting devices and scanners, which account for the increase in costs of the checkout systems. The companies are adopting cost-effective solutions in their stores, encouraging them to focus toward cashless systems. Manufacturers are developing solutions that can provide options for both types of transactions to the customers. For instance, IBM Corporation developed Self-Checkout Systems 600 and 800 Series that offer flexibility with cash & cashless transaction options.
 

By Model

China self-checkout systems market, by model, 2017
China self-checkout systems market, by model, 2017

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Wall-mounted/countertop checkout models are being widely used in retail, food, logistics, and hospitality sectors. The companies are utilizing such systems for digital promotions, cross-sell capability, and attractive loop videos to provide detailed information about the product features, prices, and offers. Several manufacturers are providing systems integrated with advanced software solutions for enhancing the performance and features of the checkout models. For instance, in September 2017, Elo Touch Solutions, Inc. introduced the Wallaby self-service countertop system with interactive touchscreen capabilities for high-traffic environments. The software installed in these systems EloView allows to refresh the content, manage devices remotely through a centralized portal, through the updating of the software, apps, and OS with complete data security.
 

By Application

The entertainment sector accounted for over 10% of the self-checkout system market share and is witnessing high adoption of these systems in countries including the U.S. and Canada. The demand for smart self-service systems in luxurious hotels, casinos, pubs, and bars is being witnessed. Casinos are providing mobile self-service gambling solutions to their customers for enhancing their betting experience. In 2012, it was recorded that mobile gambling rose by 75% and is expected to increase to 84% in 2015. Casino betting kiosks are being installed to provide flexible, secure, and user-friendly options for accelerating the offering to customers. Customized options are provided in these digital betting kiosks for personalizing the gambling experience. Several manufacturers are developing such advanced solutions. imageHOLDERs partnered with Best Gaming Technology (BGT) to develop a customized betting terminal using tablets to offer it in the UK market.
 

By Region

Europe self-checkout system industry size, by country, 2024
Europe self-checkout system industry size, by country, 2024

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The European self-checkout system market is witnessing substantial growth owing to the increase in the number of retail outlets. The retail stores that have installed these systems have risen by 50% between 2013-2015. Moreover, the increase in the positive customer response and the feedback of using these systems are encouraging the adoption of self-checkout technologies. The increasing awareness and acceptance among consumers are the major factors driving the adoption of such systems. The incorporation of contactless payment technology and the growing inclination of customers toward card-based payment have led to an increased demand for cashless systems. Another trend in the field includes the incorporation of facial recognition technology into the systems that will aid in the identification of shoplifters.
 

Competitive Market Share

Players operating in industry are Diebold Nixdorf, Digimarc Corporation, ECR Software Corporation, Fujitsu Ltd., IBM Corporation, IER, Inc., ITAB Shop Concept AB, Pan-Oston Co., OLEA Kiosks, NCR Corporation, PCMS Group, ShelfX Inc., Scandit, Slabb Inc., Toshiba Global Commerce Solutions, and Versatile Credit, among others. Players have developed business models with product strategies to match customer expectations across different applications and geographies. With this unique value proposition, the retailers are encouraged to adopt innovative self-service technologies. This has also encouraged cost-effective investments to expand the business. However, small players that are new to the industry develop products that are standard and can be used in several applications.
 

Industry Background

The self-checkout system market has gained prominence in developed regions and many end users are now expecting superior product specifications with the latest technology incorporation such as NFC and RFID. To meet such needs, vendors are investing heavily in Research and Development (R&D) and product innovations. The global market is driven by the demand from industry verticals across retail & hospitality applications for an aesthetically pleasing design with reduced footprints to match the space requirements of diverse end-use environments. Standalone self-checkout units are expected to face stiff competition from mobile-based solutions, enabling customers to scan items using their smartphones and making payments using mobile payments. Mobile solutions offer enhanced operability and given the ubiquity of smartphones; end users are already comfortable with the technology.
 


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