Self-checkout Systems Market to reach a market size of $4.7 billion by 2026 - KBV Research

NEW YORK - May 25, 2020 - PRLog -- According to a new report Global Self-checkout Systems Market, published by KBV research, The Global Self-checkout Systems Market size is expected to reach $4.7 billion by 2026, rising at a market growth of 13.8% CAGR during the forecast period. Growth in e-commerce platforms, competition from virtual shops and the shorter life cycle of goods are pushing retailers to implement anew strategies and introduce new technology to increase their sales and lower costs. Retailers are implementing self-checkout systems as a result of the growing difficulties and thereby allowing them to redeploy their employees to devote more of their resources to supporting other retail operations and servicing customers more effectively.

The systems segment recorded the largest market share. Technological advancement in self-checkout systems is a major factor leading to the retailers 'hardware adoption over conventional checkout systems. The service segment is expected to experience the most rapid growth over the forecast period. The need for efficient solutions to provide quicker delivery, flexibility at the front end of the store, and simple incorporation of technologies and services into traditional self-checkout as well as checkout systems encourages retailers to opt for consulting, adopting, and maintaining.

The cash-based self-checkout systems accounted for the largest market share in 2019. The predominant factor driving growth is increased preferences for paper-based transactions among large, small, and medium-sized retailers. The cashless based self-checkout system is projected to emerge over the forecast period as the fastest-growing market. The key attributable factor to segmental growth is the increasing prevalence of electronic payments.


Global Self-checkout Systems Market Segmentation

By Component

• Systems
• Services

By Type

• Cash Based Systems
• Cashless Based Systems

By Application

• Supermarkets & Hypermarkets
• Department Stores
• Convenience Stores
• Others

By Geography

North America

• US
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific

LAMEA

• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA

Companies Profiled

• Diebold Nixdorf, Inc.
• Fujitsu Limited
• NCR Corporation
• Toshiba Corporation
• ITAB Shop Concept AB
• Strongpoint ASA
• ECR Software Corporation
• Fortive Corporation (Gilbarco, Inc.)
• Pan-Oston (Houchens Industries, Inc.)
• Flooid Limited

Structural Insights: https://www.kbvresearch.com/self-checkout-systems-market/