The global Self-service Technology market size is expected to be worth around US$ 46.02 billion by 2027, according to a new report by Vision Research Reports.
The global Self-service Technology market size was valued at US$ 28.2 billion in 2019 and is anticipated to grow at a CAGR of 6.5% during forecast period 2020 to 2027.
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Varied technological advancements such as remote management and wireless communication are estimated to facilitate growth. The integration of biometric security services including fingerprint recognition that ensures secured financial transactions is expected to drive the industry growth. These technologies enable customers to produce a service independent of direct service employee involvement.
The market is poised to grow at a significant pace owing to the numerous benefits offered by the technology for both the customers and businesses. Organizations are increasingly adopting such technologies as a measure to enhance their service exchanges. From restaurants to banks and airports to hotels, the usage of self-service technology has increased the customer satisfaction as it infuses personal service interaction with the customers. The technology has replaced human interaction in the process of billing statements, transactions, ordering food, and waiting in queues. These increasing benefits offered by the self-service technologies are anticipated to drive the overall market.
- The ATM segment accounted for the largest market share in 2019 and is expected to reach 22.0 billion by 2027, owing to the continued demand for cash transactions across developing economies
- The vending machine product type is expected to emerge as the fastest growing segment over the forecast period, owing to its rising demand across corporate sector and QSRs
- The retail application segment is expected to account for over 30% share in terms of revenue by 2027. This can be attributed to the growing retail in-store transformation and the need to provide personalized customer experience
- Asia Pacific accounted for the largest revenue share in 2019 and is expected to register the fastest CAGR over the forecast period owing to the rise in deployments of ATMs, mobile ATMs, self-checkout kiosks, and among travel, retail, and other commercial applications
- AZKOYEN, S.A.
- HYOSUNG TNS
- KIOSK Information Systems.
- HESS Cash Systems GmbH
- Crane Co.
- Toshiba Tec Corporation.
Self-service Technology Product Outlook
- Vending Machines
Self-service Technology Application Outlook
- Travel & Tourism
- Others (Hospitality, Education, Government, etc.)
Self-service Technology Regional Outlook
- North America
- Asia Pacific
- Latin America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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