Retail Segment to Witness Extensive Adoption of Self-Checkout Systems till 2024

Increasing need among enterprises to provide unmatched shopping experience with hassle-free checkout to customers to drive global self-checkout systems market through 2024

According to TechSci Research report, “Global Self-Checkout Systems Market By Offering, By Transaction Type, By Model, By Enterprise Size, By End User, By Region, Competition, Forecast & Opportunities, 2024”, global self-checkout systems market is forecast to grow at a CAGR of over 10% during 2019-2024, owing to increasing demand for providing personalized services while reducing the operational cost of the stores. Moreover, technological advancements, shortage of laborers in developed economies and increasing trend of modern store format is expected to positively influence the market in coming years.

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In terms of transaction type, cash is the preferred transaction type, owing to high popularity among retailers. Cash transaction provides flexibility to customers, thereby pushing the adoption of self-checkout systems. However, cashless transaction type is gaining traction, on account of lesser complexity, lower prices and attractive discounts offered via cashless transactions. Retail segment emerged as the largest end user of self-checkout systems in 2018 and the trend is likely to continue in the coming years. These systems allow customers to process and pay for their orders, relieving staff from working at staff counters.

NCR Corporation, Toshiba TEC Corporation, Diebold Nixdorf Incorporated, Fujitsu Limited IBM Corp., ITAB Scanflow AB, ECR Software Corporation, PCMS Group Ltd,   Computer Hardware Design, Ltd. and Slabb Inc. are some of the leading players operating in global self-checkout systems market. Companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share. NCR Corp. invests in R&D activities so as to maintain its position in the market. The company has also launched NCR FastLane SelfServ self-checkout release 6, which can be switched from self-checkout systems to cashier-assisted mode.

“North America is the leading region in global self-checkout systems market, due to high demand for self-checkout systems in this region and presence of large number of retail stores using these systems. Moreover, early adoption of advanced technologies and presence of leading regional players is expected to boost the region’s self-checkout systems market over the course of next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Self-Checkout Systems Market By Offering, By Transaction Type, By Model, By Enterprise Size, By End User, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of self-checkout systems market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global self-checkout systems market.

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