Self-checkout Systems Market to Reach $7.1 Billion by 2026 at a CAGR of 9.5%


Market Research Reports, Business Consulting Services & Analytics

Increase in the ease of medical bill payments and other payments in healthcare are also driving the market for self-checkout systems.

HYDERABAD, TELANGANA, INDIA, January 23, 2023 / -- IndustryARC, in its latest report, predicts that Self-Checkout System Market is estimated to reach $7.1 billion by 2026, witnessing a CAGR 9.5% from 2021 to 2026. Increased retail stores and virtual shops along with this improved shopping experiences with contactless payments, labor shortage issues, biometric recognition, modernization in the stores, increasing labor costs and simplifying checkout process are some of the factors driving the market. The exponential shift from the transactional product selling approach to a consumer experience-driven model is changing retail industry. The report offers an extensive analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key Takeaways:

This IndustryARC report on the Self-Checkout System Market highlights the following areas –

• The Self-checkout system market is estimated to witness substantial growth over the forecast period primarily due to the growing demand for adoption of advanced technologies like contactless payment, modernized stores for easy and fast checkout process.

• Retail industry is one of the major driving factors for the growth of the Self-checkout system market. Retail stores, hyper stores, shopping malls are the end user application that benefits from this market.

• Self-checkout system market is dominated by North America and is expected to hold highest market share during the forecast period, 2021-2026.

Segmental Analysis:

By Component:

Self Checkout System Market is segmented based on the components into Hardware, Software and Services. Technological advancement has been the significant factor for the adoption of Hardware in the retail store rather than traditional checkout system. This Hardware offers benefits including cashless transactions, security-based features, high capacity coin dispensing systems, intuitive customer interface, and multi-item scanning.

By Model:

Based on the Model, the market is segmented into Standalone, Wall mounted/ Countertop, and Mobile. Wall mounted/ Countertops are the majorly used model in many of the retail stores and other stores, and have significant share in the market at 49.2% in 2020. These wall mounted models can be installed with less space wherein the case of standalone, it requires more space.

By Geography:

Self-checkout system market is dominated by North America and is expected to have substantial growth in the forecast period at 7.7% through 2026. The increased demand and adoption in many retail stores such as supermarkets, hypermarkets is anticipated to drive the growth of market share.

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Competitive Landscape:

The top 5 players in the Self-Checkout System Industry are -

1. Toshiba Global Commerce Solutions
2. Diebold Nixdorf Inc.
3. Fujitsu Ltd.
4. NCR Corporation
5. ECR Software Corporation

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