Overview and Scope
Retail self-service refers to the practice of letting customers make purchases at a store without the assistance of retail staff. This system allows customers to independently engage in various aspects of their shopping experience, such as product discovery, checkout processes, and inventory management, providing them with greater control, convenience, and efficiency during their shopping journey.
Sizing and Forecast
The retail self service kiosk market size has grown strongly in recent years. It will grow from $21.45 billion in 2023 to $23.41 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The growth in the historic period can be attributed to increased cost reduction initiatives, consumer demand for convenience, regulatory compliance and security concerns, remote management and monitoring, competition and market differentiation.
The retail self service kiosk market size is expected to see strong growth in the next few years. It will grow to $33.43 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to increasing expansion into emerging markets, enhanced data analytics capabilities, focus on sustainability and eco-friendly solutions, improved inventory management. Major trends in the forecast period include augmented reality (AR) integration, voice-activated interfaces, blockchain-based payments, integration with robotics and automation, subscription-based services and membership programs.
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Segmentation & Regional Insights
The retail self service kiosk market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Type: Point of Interaction, Ticketing Kiosk, Other Types
3) By Application: Convenience, Super Markets
North America was the largest region in the retail self service kiosk market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the retail self service kiosk market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The expanding use of contactless payments is expected to propel the growth of the retail self-service kiosk market going forward. Contactless payments refer to a secure and convenient payment method where customers can make purchases without physically swiping their card or passing it to another person. The reasons for expanding contactless payments are convenience, encouraging the adoption of digital wallets, enhanced security, and reduced cash handling costs. Contactless payments provide customers a fast, convenient, and secure way to complete transactions at self-service kiosks. For instance, in March 2024, according to reports published by UK Finance, a UK-based non-profit organization, the total value of contactless transactions was £27.5 billion ($34.7 billion) in 2023, a 7.2% increase of £25.7 billion ($32.4 billion) in December 2022. Therefore, the expanding use of contactless payments is driving the growth of the retail self-service kiosk market.
Key Industry Players
Major companies operating in the retail self service kiosk market are Samsung Electronics Co. Ltd., Verifone Inc., Hitachi Ltd., Schlumberger Limited, NCR Corporation, Diebold Nixdorf Inc., Sanden Holdings Corporation , Kontron AG, Fuji Electric Co.Ltd., Elo Touch Solutions Inc., Telpo Technology Co. Ltd., Fabcon Inc., Evoke Creative Limited, KIOSK Information Systems Inc., Japan Cash Machine Inc. Ltd., Saudi Economic and Development Company, Meridian Kiosks LLC, Frank Mayer and Associates Inc. , Pyramid Computer GmbH, Voxson Pty. Ltd., RedyRef Interactive Kiosks, LamasaTech Inc., Optical Phusion Inc., Olea Kiosks Inc., Phoenix Kiosk Inc., Zytronic plc
The retail self service kiosk market report table of contents includes:
1. Executive Summary
2. Retail Self Service Kiosk Market Characteristics
3. Retail Self Service Kiosk Market Trends And Strategies
4. Retail Self Service Kiosk Market – Macro Economic Scenario
5. Global Retail Self Service Kiosk Market Size and Growth
…
32. Global Retail Self Service Kiosk Market Competitive Benchmarking
33. Global Retail Self Service Kiosk Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Retail Self Service Kiosk Market
35. Retail Self Service Kiosk Market Future Outlook and Potential Analysis
36. Appendix
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