Overall Self-Checkout Systems business scenario presented through self-explanatory charts, tables, and graphics images add greater value to the study.
NEW YORK CITY, NEW YORK, UNITED STATES, March 26, 2020 /EINPresswire.com/ — The increasing demand for self-service solutions in the hospitality sector to speed up the order process at fast-food chains will boost the self-checkout systems market in the coming years. The self-service solutions are witnessing the integration of Near-Field Communication technology, and the growth in the trend of card payment will propel the demand for cashless systems. The demand for faster checkout, elimination of long queues, and enhanced customer experience are expected to propel market demand. The proliferation of retail giants, such as Wal-Mart, Safeway, Tesco, and Kroger, are also upsurging the demand.
The adoption of the technology is slow due to the high cost of such a solution, and the implementation of these systems has been gaining prominence of different industries. The industry is regulated by regulations about information security, payment transactions, and accessible design. Moreover, the retailers are incorporating stringent application software in their solutions to control the sale of alcoholic beverages at the self-checkout counter.
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Cashless model type are expected to grow at a higher CAGR. The advantage of lower price and lesser complexity have increased the adoption rate, especially in small retail formats. Supermarket have dominated the market for self-checkout system. The increase in customers and number of items purchased by each customers has created a need for more checkout counters, which has increased the demand for self-checkout system market.
North America led the market due to the high revenue generated by the U.S., Canada, and Mexico. The leading position is due to the high demand for the system owing to the presence of large numbers of supermarkets and hypermarkets. An increase in the number of retail outlets are creating a high demand in the European region. An incorporation of facial recognition technology into the systems to identify shoplifters are also adding to the market’s growth.
In the year 2017, Diebold Nixdorf announced the launch of an ultra-thin self-checkout system for the retail market. In the year 2016, Panasonic announced a fully automated robotic checkout machine that detects and calculates the value of goods using a computerized vessel.
Key market players include Diebold Nixdorf, Inc., NCR Corporation, Computer Hardware Design, Ltd., Toshiba Tec Corporation, Fujitsu Limited, ECR Software Corporation, ITAB Scanflow AB, Pan-Oston Co., IER, PCMS Group PLC, and Slabb Inc.
Segments Covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the industry trends in each of the sub-segments from 2019 to 2027. For the purpose of this report, Reports and Data have segmented the global Self-Checkout System market by offering, model type, mounting type, end-user, and region:
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Offering Outlook (Revenue, USD Billion; 2019-2027)
Model Type Outlook (Revenue, USD Billion; 2019-2027)
• Cash Model Type
• Cashless Model Type
Mounting Type Outlook (Revenue, USD Billion; 2019-2027)
• Stand-Alone Mounting Type
• Wall-Mounted and Countertop Mounting Type
End-User Outlook (Revenue, USD Billion; 2019-2027)
• Hypermarket and Department Stores
• Convenience Stores
Regional Outlook (Revenue, USD Billion; 2019-2027)
• North America
• Asia Pacific
• Latin America
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Source: EIN Presswire