Self-Checkout System Market projected to experience a healthy growth by 2024
Date: 2018-08-16   Author: Ronak Bora  Category: #technology

Self-Checkout System Market projected to experience a healthy growth by 2024

The self-checkout system market is witnessing growth in the transportation sector owing to the capabilities of these systems for printing tickets and carrying out financial transactions with ease. The entertainment sector also provides growth opportunities for the self-checkout systems market owing to the increasing use of these systems in movie theaters, theme parks, and museums. Many restaurants are adopting these devices for an improved order accuracy and reduced wait times, augmenting the self-checkout kiosks market growth.

Self-Checkout System Market size is expected to surpass USD 4 billion by 2024. The industry growth can be attributed to factors such as the rise in demand for touch-free transactions and the growing trend of using mechanized systems globally. The shortage of labor coupled with rising labor costs in developed countries drives the industry growth. The rapid growth in industrialization in countries including India has led to a rise in the demand for automated machines. Increasing demand to replace human labor with machines to provide enhanced transaction systems to customers is driving the self-checkout system market.

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The U.S. is among the earliest adopters in the self-checkout kiosks market owing to the rapidly-growing retail sector and the tendency of the region to implement advanced technologies.

Widespread awareness about the advantages of self-service machines in the country contributes to the growing demand for self-checkout systems. Increasing requirement of using automated machines owing to rising labor costs is driving the industry in the region.

Rapid growth in the retail sector and increasing consumer demand for improved retail experience are boosting the self-checkout kiosks market. These systems ensure that customers enjoy shopping in retail stores by reducing the hassle of standing in long lines thereby saving consumer’s time and enhancing the throughput.

Rising need of enterprises to lower their operational costs and increase the checkout speed has led to a high demand for these systems in the retail sector. In October 2017, Value Exchange International, Inc. implemented self-checkout systems in Malaysia, Hong Kong, and China.

Key players operating in the self-checkout systems market include Diebold Nixdorf, Inc., Toshiba TEC Corporation, ECR Software (ECRS) Corporation, Fujitsu Limited, PCMS Group PLC, ITAB Scanflow AB, and Olea Kiosks, Inc.



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Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for AlgosOnline and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport.

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