Global Self-checkout Systems Market by Components (Services, Systems), by Type (Cash Based, Cashless) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

In 2019, the global market for self-checkout systems was worth USD 2.8 billion. It is projected to grow at a 13.3% CAGR between 2020 and 2027. Self-checkouts are being adopted due to the increase in retail customers and the consequently longer checkout times. Market growth is also driven by rising labor costs and a shortage of skilled laborers within developed countries. These systems are also being adopted in the retail sector due to ongoing retail transformation, which aims to lower costs and increase productivity.

The rapid growth of e-commerce channels and competition from virtual shops are forcing retailers to adopt new strategies and new technologies to increase revenue and lower costs. Retailers are now using self-checkout systems to reduce the workload and allow them to spend more time supporting other retail operations and serving customers more effectively. NCR Corporations FastLane SelfServ checkout system allows shoppers to scan, bag and pay at the checkout counters. This reduces staff intervention. It improves retail operations and enhances customer shopping experience.

Retailers have been able to flood their stores with niche and similar products due to increased competition from curated commerce channels. The increasing number of products makes it difficult for shoppers to leave their shops during checkout. Retailers are now using countertop or wall self-checkout systems to reduce retail space. NCR Corporation's SelfServ 90, which is compact and sleek, allows retailers to mount it on a countertop, pedestal, or wall. This supports shoppers with a grab-and-go solution.

Retail customers are becoming more demanding. They want to shop in a way that is convenient, secure and manageable. End users are increasingly choosing self-service options. Self-service checkouts and self-checkout systems are becoming more popular as retailers seek to better engage customers with their brands. Fujitsu's U-Scan or Impulse self-checkout systems offer features such as themes, customer customization, and charitable donation applications. These features help retailers maximize their merchandise, increase brand awareness, and increase advertising space in their stores.

Further, the market for self-checkout systems has been boosted by the advancements in Near Field Communication (NFC), and the integration radio frequency identification device (RFID) with mobile technology capabilities. This technology allows shoppers to scan and pay for products straight from the aisle with an identification device. It reduces shopping time and makes it more convenient. Mobile self-checkout solutions or "mobile scan & go", are becoming a more popular option for both consumers and retailers. This solution allows consumers to scan, bag and pay their products with their smartphones. It also helps retailers optimize their sales and reduce costs.

Components Insights

In 2019, the systems segment held the largest market share. Technology innovation in self-checkout system is a major factor driving hardware adoption by retailers. Modern hybrid self-checkout systems provide advanced security features, an intuitive customer interface, high-capacity coin dispensing systems and cashless transactions. Retailers are increasingly embracing advanced systems due to increasing consumer preference for cash and cashless transactions.

Over the forecast period, the fastest growing segment will be the service. Retailers are increasingly turning to consulting, implementation and maintenance services to improve their systems. This is due to the need to offer faster processing, greater flexibility at the front end of the store, and easier integration of services and systems in traditional self-checkout and checkout systems. The need for customized systems that are tailored to store layouts and ongoing retail in-store transformation is driving the demand for managed and consulting services. Segmental growth is also aided by the need for professional consulting services in order to update or customize software.

Type Insights

In 2019, the largest market share was held by cash-based selfcheckout systems. The main driver of the growth is the increasing preference for paper-based transactions by large, small and medium-sized retailers. According to the World Bank Group's and World Economic Forum studies, paper-based transactions accounted in June 2016 for USD 19 trillion across all sizes of retail outlets around the world. The U.S. government's efforts to encourage cash-based transactions at retail outlets is also contributing to segment growth. In February 2019, Philadelphia passed legislation banning cashless shops. The same suits of law are being increasingly applied in other U.S. states, such as New York and San Francisco.

Over the forecast period, the cashless self-checkout system will be the fastest-growing segment. Electronic payments are the main factor behind the segmental growth. The trend towards electronic payments is growing among middle-aged and millennial consumers, despite the continued dominance of paper-based or cash-based payments. Other factors that could drive cashless self-checkout are mobile commerce trends and the availability payment solutions.

Application Insights

With a market share of 56%, the hypermarkets and supermarkets segment dominated in 2019. They are expected to maintain their dominance over the forecast period. This segment has seen significant growth due to an increase in the number and wealth of consumers who shop at hypermarkets and supermarkets, as well as shorter wait times for checkouts. In addition to rising labor costs, the need to replace large-sized tills and proper utilization of floor space, supermarkets and hypermarkets have been forced to implement self-checkout systems.

Convenience stores are increasingly using self-checkout systems. This is driving a 14.6% CAGR over the forecast period. In an effort to offer faster service to customers, convenience stores have adopted advanced technology and upgraded self-service technologies. Convenience stores are also adopting alternative self-checkout systems like mobile scan and go. OKay convenience stores in Belgium, which are a subsidiary of Colruyt Group retail chain, launched the "Scan.Pay.Go” mobile app in November 2018. This allows customers to scan and pay for purchases in the store.

Regional Insights

With a market share of 46%, North America was the dominant region in 2019. This region is expected to grow rapidly over the forecast period. Regional segment growth is due to increased adoption of self-checkout systems at hypermarkets and supermarkets across the U.S. Albertsons Companies, Inc., an American-based food and drug retail chain, expanded its partnership with Toshiba Global Commerce Solutions in June 2019 to enhance the in-store customer checkout experience. The company's self checkout systems were deployed by Toshiba Global Commerce Solutions. Europe was the second-largest region in 2019. Larger retailers like grocery chains and discount shops are expanding self-checkout lanes. Kaufland Dienstleistungs GmbH & Co. KG, a German-based supermarket chain, announced in May 2018 that it would be deploying NCR Corporation's self checkout systems throughout its stores. Already, the hypermarket chain has implemented NCR Corporation's self checkout systems in 160 of its stores. It will continue to implement self-checkout systems at its other stores.

Asia Pacific is projected to grow at a CAGR greater than 15% during the forecast period. Market growth is being driven by the growing trend towards cashless payment systems and the gradual adoption of technologies like AI (AI), in self-service checkout system systems. The market is being driven by advanced self-checkout systems with AI-based features. These systems scan all products instantly and allow consumers to make payments. Advanced systems are able to reduce waiting times and increase customer satisfaction. The new AI-based selfcheckout systems were tested at the Seikatsu Saika convenience shop in Tokyo in April 2019. Retailers are increasingly adopting self-checkout terminals due to the ongoing labor crisis in Japan and the need to improve their store operations. Lawson Inc., a Japanese convenience store chain, announced in April 2019 that self-checkout terminals were available in all of its stores in Japan to address the labor shortage.

Market Share Insights & Key Companies

NCR Corporation, Toshiba Global Commerce Solutions, Diebold Nixdorf, Incorporated, FUJITSU, ITAB Group, ECR Software Corporation are some of the most prominent market players. These market leaders are focused on improving and enhancing functionality. This provides retail users with additional features that can improve their productivity. In January 2019, FUJITSU introduced a new solution that uses AI to reduce fraud in hypermarkets and supermarkets. FUJITSU also partnered with a European hypermarket retailer to test and co-create the technology. This partnership aimed to offer retail customers a frictionless, cashier-less shop.

The market leaders are also involved in long-term partnerships that support retail chain stores in order to assist them in their retail transformations and improve the customer experience. To maintain market competitiveness, industry players are involved in strategic partnerships, contract extensions, and investments in R&D. Ooredoo QSC (a Qatar-based international telecommunications company) extended its partnership agreement to NCR Corporation in July 2019. It was a 10-year deal. The contract was extended by the former company to enable them to use NCR Corporation's Digital Connected Services as well as maintain their NCR self-service kiosks. NCR Corporation will also assist Ooredoo QSC with the transformation of their mobile retail stores using 150 NCR Self Service Kiosks.

Self-checkout Systems Market Report Scope

The Report Covers Certain Segments

This report provides a forecast of revenue growth at the global, regional and country level and analyzes the most recent industry trends in each sub-segment from 2016 to 2027. Grand View Research has divided the global self-checkout system market report by components, type, applicaiton, and region.

• Components Outlook (Revenue USD Million, 2016-2027)

  • Systems

  • Services

• Type Outlook (Revenue USD Million, 2016-2027)

  • Cash-based systems

  • Cashless systems

• App Outlook (Revenue USD Million, 2016-2027)

  • Supermarkets and Hypermarkets

  • Department Stores

  • Convenience Stores

  • Other

• Regional Outlook (Revenue USD Million, 2016-2027)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • France

    • Germany

  • Asia Pacific

    • China

    • Japan

  • Rest of the World

    • Brazil

    • Mexico

These are the most frequently asked questions about this report

b. Global self-checkout system market was valued at USD 2.8 billion in 2019, and is forecast to grow to USD 3.2 billion by 2020.

b. Global self-checkout system market is expected grow at a compound annual rate of 13.3% between 2020 and 2027 to reach USD 7,8 billion by 2027.

b. With a 46.8% share in 2019, North America was the market leader in self-checkout system sales. This can be attributed to the increased adoption of self-checkout systems by supermarkets and hypermarkets in North America and Canada in order to improve the consumer checkout experience.

b. NCR Corporation, Toshiba Global Commerce Solutions, Diebold Nixdorf, Incorporated, FUJITSU, ITAB Group, and ECR Software Corporation are some of the key players in the self-checkout system market.

b. The market growth is driven by a growing number of customers who have medium-sized shopping carts and the adoption of automated technology to enhance in-store purchasing experience. There are also increases in labor costs and a shortage of skilled laborers.

Up Market Research published a new report titled “Self-checkout Systems Market research report which is segmented by Components (Services, Systems), by Type (Cash Based, Cashless), By Players/Companies Incorporated; FUJITSU; ITAB Group; and ECR Software Corporation, NCR Corporation; Toshiba Global Commerce Solutions; Diebold Nixdorf”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Self-checkout Systems Market Report Segments:

The market is segmented by Components (Services, Systems), by Type (Cash Based, Cashless).

Self-checkout Systems Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Self-checkout Systems Market

Overview of the regional outlook of the Self-checkout Systems Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Self-checkout Systems Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Self-checkout Systems Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Services

                2. Systems

                1. Cash Based

                2. Cashless

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Self-checkout Systems Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Self-checkout Systems Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.