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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), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030

  • Report ID: GMI2433
  • Published Date: Jun 2022
  • Report Format: PDF

Industry Trends

Self-Checkout System Market size surpassed USD 3.5 billion in 2021 and is projected to expand at 15% CAGR from 2022 to 2030. The global industry shipments are anticipated to cross 270 thousand units by 2030.
 

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Self-checkout systems offer various benefits including greater accuracy, reduced labor cost, and better in–store optimization. It improves the customer experience as they can be served in less time, effectively reducing long queues, and waiting periods. Market players are designing systems that are smaller in size than standard checkout terminals, allowing businesses to integrate more checkout stations in a limited area.
 

Cashless transactions are gaining a high momentum with a rise in the digitalization of payment techniques. Owing to the growing adoption of POS terminals in several countries including India, the U.S., and the UK, the demand for digitalized payments is increasing rapidly, driving the market growth. The industry statistics will improve significantly by the end of the forecast period as several payment solutions are providing contactless payment options to customers for their purchases.
 

Robust demand for self–checkout system hardware in the UK hospitality industry

The hardware segment in the UK self-Checkout System Market will attain 10% gains during the forecast period, credited to the growing demand for advanced hardware with an easy–to–use interface. The hospitality industry is witnessing high espousal of self-checkout systems to enhance guest experience and provide a convenient way to process transactions. The hardware segment share is increasing as they have various benefits such as low cost to update and lower cybersecurity & hacking threats.
 

Increasing focus on digital transformation across retail stores

The growing usage of digital solutions has encouraged retailers to implement technologies that accept contactless and mobile payments. Retailers are integrating advanced solutions, such as IoT and cloud computing, to improve the overall customer shopping experience.
 

For instance, in November 2021, Carrefour Group presented its digital retail strategy plan for 2026. This strategy aims to increase expenditures on digital solutions by nearly 50% with a total budget of around USD 3.57 billion allocated between 2022 and 2026. These initiatives will enhance the adoption of self-checkout systems in the market as these locations have a high customer traffic.
 

Growing integration of cashless payment in the U.S.

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The cashless self-checkout system Market in U.S. will register 15% growth rate through 2030, attributed to the increasing adoption of electronic payment solutions. The increased penetration of smartphones is supporting the trend of cashless payment transactions on mobile devices for high convenience and cost–effectiveness. This has encouraged financial industry participants to cater to the growing demand to deliver cashless payment services on mobile apps. Several smartphone manufacturers have integrated digital wallet apps to accept payment transactions on mobile devices. For instance, in February 2022, Apple Inc. revealed plans to launch Tap to Pay on iPhone. The new feature will let retailers across the U.S. make payments through Apple Pay, digital wallets, and contactless credit & debit cards.
 

Rising usage of mobile self-checkout systems

The mobile self-checkout system Market will have a positive outlook in the coming years, as it offers improved convenience and flexibility. These self-checkout systems are gaining popularity in the marketplace because of their ease of use and portability. These technologies allow faster transaction times, higher sales, and increased client satisfaction. Improvements in product design including RFID, screen size, battery performance, and operating system have also increased among end–use industries.
 

The market players design handheld devices that are based on components that have a long life, ensure maximum availability & support, and benefit the total cost of ownership & application support. A rapid transition toward secure, resilient, and efficient payment solutions is fostering the industry size.
 

Growing trend of digitalization in Asia Pacific market

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The Asia Pacific self-checkout system Market held nearly 25% of the global revenue share in 2021, due to a surge in the integration of digital technologies by various end–use industries to offer better services to their customers. Rising government initiatives aimed at boosting digitalization in the financial sector will support the business development.
 

Expanding the customer base forms a key strategy amongst industry players

Key companies operating in the self–checkout system industry include Diebold Nixdorf, Digimarc Corporation, ECR Software Corporation, Fujitsu Limited, Gilbarco Inc., IBM Corporation, IER, Inc., ITAB Shop Concept AB, NCR Corporation, Olea Kiosks, Inc., Pan–Oston Co., QINGDAO WINTEC SYSTEM CO., LTD., Scandit, Inc., ShelfX, Inc., Slabb, Inc., StrongPoint, and Toshiba Global Commerce Solutions.
 

Market players are focused on partnering with customers located at global locations to offer innovative self-checkout systems capable of handling unique retail scenarios including the sales of age–restricted items. For instance, in June 2022, Holiday Oil Co., a Utah convenience store retailer in 67 locations, collaborated with Gilbarco Inc. to integrate Gilbarco Veeder–Passport Root's Express Lane self–checkout system for a seamless shopping experience. The company plans to outfit its whole network with Express Lane Kiosks, allowing the staff to focus on more demanding jobs and serve the rising number of self–service consumers who want a speedier & cashier–less checkout experience.
 

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 2018 to 2030 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
  • Others

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
    • Southeast Asia
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • UAE
    • Saudi Arabia
    • South Africa
       
Authors: Preeti Wadhwani, Saloni Gankar

Frequently Asked Questions (FAQ) :

The market size of self-checkout system crossed USD 3.5 billion in 2021 and will record over 15% CAGR during 2022-2030, says this GMI report.
U.K. self-checkout system industry will witness around 10% gains through 2030 with a robust demand for innovative hardware having an easy-to-use interface.
U.S. cashless self-checkout systems will exhibit nearly 15% growth rate till 2030 due to the cost-effectiveness and increasing adoption of electronic payment solutions.
Digimarc Corporation, Diebold Nixdorf, IBM Corporation, Gilbarco Inc., Fujitsu Limited, ECR Software Corporation, and ITAB Shop Concept AB, among several others, are the leading self-checkout system providers worldwide.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 17
  • Tables & Figures: 566
  • Countries covered: 17
  • Pages: 400
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