/EIN NEWS/ — NEWARK, DE, Aug 09, 2022 (GLOBE NEWSWIRE) — The global self-service checkout market is expected to reach a market value of $11 billion by 2032 and grow at a CAGR of 10. 65% up to rise during the forecast period.
Demand for self-service systems is highly dependent on the significant growth in global retail. The use of self-service systems in the industry is growing due to the benefits that self-service systems offer to retailers, such as high checkout speed, low operating costs, and efficiency during periods of labor shortage. The growing need for businesses to provide consumers with an unparalleled shopping experience is likely to significantly increase demand for these systems in the coming years.
First, the global self-service checkout market is measured by three parameters: product type, product, and end user. Based on the type of product, the market is divided into wall-mounted self-service systems, stand-alone self-service systems, and desktop self-service systems. Of these, wall-mounted self-service checkouts are in high demand due to the benefits they offer such as cost efficiency and limited space usage. This is expected to continue in the coming years.
Depending on the product, the market is divided into hardware, software and services. The hardware segment is expected to occupy the largest market share in the near future due to the growing adoption of advanced technologies. Depending on the end user, the market is divided into retail, financial services, entertainment, travel and healthcare. The retail industry reports that the consumption of self-service systems is very high and is expected to continue to grow in the near future, ensuring the dominance of the retail industry as the main end user of self-service systems worldwide.
The global market for self-service systems is also studied based on its geographical distribution. Depending on the geography, North America, the Middle East and Africa, Europe, Asia-Pacific and South America are the main market segments. Among them, North America has dominated the global market for the past few years. The regional market is expected to maintain its position over the next few years with the introduction of numerous advanced and feature-rich products that enhance the performance and quality of conference rooms. The presence of a large number of self-service system providers in the region and growing technological developments are expected to support the North American self-service system market in the near future.
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Future Market Insights, an ESOMAR-accredited market research organization and a member of the Greater New York Chamber of Commerce, provides detailed insights into the factors driving market demand. It reveals growth opportunities in different segments over the next 10 years depending on source, application, sales channel and end use.
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