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, Growth Potential, Price Trend Analysis, Application Potential, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Oct 2020  |  Report ID: GMI2433  |  Authors: Preeti Wadhwani, Saloni Gankar

Report Format: PDF   |   Pages: 380   |   Base Year: 2019




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Self-Checkout System Market size exceeded USD 3.5 billion in 2019 and is anticipated to grow at a CAGR 10.5% between 2020 and 2026. The global industry shipments are expected to cross 150 thousand units by the end of 2026. The growing demand in the retail sector to accelerate customer checkout process will drive the market growth. The increasing integration of NFC technology with self-checkout systems and the surging trend of card payments will positively influence the market revenue.
 

Self-Checkout System Market
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Expansion of supermarkets, department stores, hypermarkets, home improvement stores, and other retail chains will propel the market expansion. For instance, in August 2020, Lidl Stiftung & Co. KG, a German international discount supermarket chain, announced that it will expand in the U.S. with 50 stores by the end of 2021. Self-checkout systems serve as a convenient option for store owners with several chains to unify and popularize their store concepts.
 

The growing adoption of card-based, mobile, and online payment options among consumers has led to an increased trend of self-checkout systems in the entertainment sector. According to the British Retail Consortium (BRC), credit card payments in the UK rose during 2019. The use of card was up by 7% to 3.3 billion payments with 1.3 billion contactless. Similarly, the number of online payment transactions in China reached 57 billion in 2018 from 23.6 billion in 2013. This has encouraged market players to develop self-checkout systems for the entertainment sector.
 

The COVID-19 pandemic is predicted to have a significant impact on the self-checkout system market in the short-term owing to the shutdown of manufacturing plants across the globe. The result of halting production and sales will create a pile of orders, forcing manufacturers to increase the cost of the equipment. The closure of physical stores and restaurants globally due to imposed lockdown will also impact the industry growth. However, changes in consumer shopping habits in response to the COVID-19 pandemic will encourage industries to deploy touchless or robust self-checkout options in stores.
 

Self-Checkout System Market Report Coverage
Report Coverage Details
Base Year: 2019 Market Size in 2019: 3.5 Billion (USD)
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2026
Forecast Period 2020 to 2026 CAGR: 10.5% 2026 Value Projection: 6 Billion (USD)
Pages: 380 Tables, Charts & Figures: 516
Geographies covered (17): U.S., Canada, UK, Germany, France, Italy, Russia, China, India, Japan, Singapore, Australia, Brazil, Mexico, UAE, Saudi Arabia, South Africa
Segments covered: Solution, Transaction, Model, Application and Region
Companies covered (16): Diebold Nixdorf, Inc., Digimarc Corporation, ECRS Software Corporation, Fujitsu Limited, IBM Corporation, IER, Inc., ITAB Shop Concept AB, NCR Corporation, Olea Kiosks, Inc., Pan-Oston Co., PCMS Group Ltd., Scandit Inc., ShelfX, Inc., Slabb, Inc., Toshiba Global Commerce Solutions and Versatile Credit
Growth Drivers:
  • Growing supermarket penetration in the U.S.
  • Hike in minimum wages in Canada
  • Rise in contactless payment in the UK
  • Rising number of online payments in China
  • Demonetization effect in India
  • Proliferation of RFID tagging in Japan
  • Infrastructure development in Latin America
  • Growth in the retail and tourism industry across the Middle East
Pitfalls & Challenges:
  • Low reliability
  • Loss of inventory and shoplifting
  • High upfront cost

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Growing demand for self-checkout systems capability with several components to fuel growth of the hardware segment

The U.S. self-checkout system market from hardware segment is projected to witness over 7% CAGR till 2026. Manufacturers are focused on developing innovative systems that are compatible with hardware components for providing additional features & functions.
 

As of February 2019, around 52% of adults in the U.S. owned at least one tablet while 81% owned a smartphone. The rising use of tablets and smartphones in the U.S. has encouraged manufacturers to develop ruggedized tablet-based kiosks with high-resolution and smart screen display
 

Retailers adopting standalone systems to offer flexible checkout to customers

Standalone models are experiencing high acceptance in several application areas on account of the increasing demand for effective systems for managing customer crowd in stores. Several leading retail outlets, such as supermarkets and hypermarkets, are installing self-checkout systems for saving the time of customers from standing in a queue. These systems are deployed to enhance the shopping experience of customers by offering flexible checkout options.
 

These systems are integrated with several devices and technologies for providing all the services that are expected from the customer service agent. The enhanced security for performing cash-based and cashless transactions, user identification module, and product sensing capabilities are some of the major benefits that are encouraging retail companies to adopt such systems in their stores. The devices that are integrated for performing safe transactions in standalone models include a credit or debit card reader, smart card reader, and wireless transfer of funds & cash receiver.
 

Increasing number of card-based transactions is driving the cashless transaction demand

Global Self-Checkout System Market

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The Europe self-checkout system market from cashless-based solutions will expand at 14% CAGR through 2026. Customers prefer cashless transactions over cash-based due to their increased benefits such as security, convenience, discounts, and high-speed transactions. Digital payments via cards or apps are highly popular in several European countries including Sweden, Netherlands, and the UK with around 80% of Swedes using a card to pay for purchases. This has encouraged manufacturers to develop systems that accept cashless transactions such as credit and debit card payments.
 

Mobile-based applications that provide scan and pay option to customers are witnessing high adoption in the market. Digital wallets and QR code scanning app are some of the cashless transaction solutions that are revolutionizing the payment industry
 

Increased demand in the hospitality sector for enhancing customer service experience

The global hospitality sector captured above 20% of the self-checkout system market share in 2019 led by rise in demand for enhancing the customer experience. A 2018 Customer Engagement Technology Study estimated that 53% of the guests prefer mobile check-in option. The hotel & restaurant industry is adopting mobile self-checkout systems to allow customers to order their food from hotel rooms. The interactive kiosks help to lower costs, increase efficiency, and accelerate the ordering process in a restaurant. Several luxurious hotels and food chain companies have adopted self-service systems for increasing their ordering speed and revolutionizing the check-in experience of customers.
 

Rise in the number of retail outlets choosing self-checkout technologies is spurring North American market size

North America Self-Checkout System Market Size

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The North America self-checkout system market is likely to attain a CAGR of more than 9% from 2020 to 2026 impelled by the increasing acceptance of smart technologies for simplifying the in-store shopping experience of customers. The retail, hospitality, and healthcare companies are engaged in attracting customers to compete in the market. These systems allow companies to serve customers in a better way. The region is home to several leading retailers including Walmart, Metro, Amazon, and Home Depot. The growing need among these retailers to offer a differentiated customer experience coupled with the high adoption rate of advanced technologies is augmenting the regional market demand. The changing shopping habits of customers and the rising trend of omnichannel sales platforms are poised to assist in the growing demand of self-checkout systems in the region.
 

Focus on integrating advanced features by industry players to remain competitive in the market

Market leaders are focusing on offering a wide range of self-checkout systems and services, targeting specific industrial needs. The high competition in the market is forcing emerging players to introduce innovative services for strengthening their position and increasing market share.
 

Key companies operating in the self-checkout system market are Diebold Nixdorf, Inc., 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, Inc., Slabb, Inc., Toshiba Global Commerce Solutions, and Versatile Credit, among others
 

This market research report on self-checkout system includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipments in units from 2016 to 2026 for the following segments:

Market, By Solution

  • Hardware
  • Software
  • Service

Market, By Model

  • Standalone
  • Wall-mounted/Countertop
  • Mobile

Market, By Transaction

  • Cash-based
  • Cashless

Market, By Application

  • Entertainment
  • Healthcare
  • Hospitality
  • Retail
  • Travel

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • Singapore
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • UAE
    • Saudi Arabia
    • South Africa

 

Frequently Asked Questions (FAQ) :

Global self-checkout system market will record a total shipment of over 150 thousand units by 2026 with increased adoption of NFC technology into the products and high preference for card payments.
The Europe market for self-checkout systems from cashless-based solutions will register over 14% CAGR through 2026 due to higher use of digital payments to leverage increased security, convenience and speed.
Self-checkout system market in the U.S. will witness more than 7% CAGR from the hardware segment up to 2026 owing to the development of innovative and compatible systems to provide added functions and features.
The hospitality sector accounted for more than 20% of global self-checkout system industry in 2019 with surging use of mobile checkout systems, interactive kiosks and to provide improved customer experience.
North America market for self-checkout systems will achieve nearly 9% CAGR through 2026 owing to higher adoption of smart technologies in retail to bolster consumer experience.

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Premium Report Details

  • Published Date: Oct 2020
  • Pages: 380
  • Tables: 487
  • Charts / Figures: 29
  • Companies covered: 16
  • Countries covered: 17

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