Self-Checkout Systems Helping Customers Avoid Long Waiting Lines

The global self-checkout systems market is being driven by numerous factors, such as their ease of use and faster check-out speed as compared to manual handling and the fact that these solve the issue of labor shortage. In 2017, the market was valued at $2,522.1 million, and it is expected to grow at a CAGR of 10.7% during the forecast period (2018–2023). Self-checkout systems scan products, provide their details and take payments, thus leading to a complete transaction at a retail store. 

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One of the factors driving the self-checkout systems market is the smooth user experience that these systems offer in terms of being less time-consuming by helping people avoid long queues at the billing counter and keeping human interaction to the minimum. Such systems offer a well-rounded experience in terms of services that consumers expect from store attendants. This results in a faster shopping experience, as customers can simply generate the final bill themselves without having to wait in lines.

Based on offering, the self-checkout systems market is divided into software, hardware, and services, among which the hardware category dominated the market in 2017 with more than 38.0% sales volume share. This was because a number of manufacturers and suppliers exist in the market, who sell different components for such systems. Further, with technology advancements, the hardware needs to be upgraded regularly unlike software and services. Further, different types of machines are needed for different goods, which was another reason for the dominance of hardware on the market.

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Geographically, North America held the largest market share in terms of revenue in 2017 due to the early availability of such systems the region. The presence of prominent players in the North America region also helped it in dominating the self-checkout systems market across the world. While the continent will still lead the market during the forecast period, Asia-Pacific would experience the fastest growth owing to the adoption of advanced technologies in the region.

Hence, technological advances and evolving human behavior will continue to push the market ahead.

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Created on Nov 21st 2019 00:45. Viewed 289 times.

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