Self-checkout system market set to reach over $6bn

The global market for self checkout will be over $6 billion by 2026 - according to market research firm Global Market Insights - fuelled by the adoption of such systems in restaurants “due to the high budget range of these outlets”.

The report explained that mobile payment transaction models are gaining “high popularity and momentum among consumers”, including mobile apps and wallets, allowing customers to scan products, gather information and ensure easy checkout.

Government regulations and policies to adopt cashless transactions are also expected to drive the adoption of cashless self-checkout systems. Large retail and food chain companies are supporting these government initiatives by offering these options to customers, stated Global Market Insights.

The self-checkout system market from the healthcare sector is also projected to witness a “high adoption rate through to 2026”, led by the increased ease in paying bills for treatment and medicines. These self-service terminals allow patients to access the required information regarding health conditions, medications, treatments and preventative care.

The Asia-Pacific self-checkout system market is predicted to see around 15 per cent a year growth until 2026, on account of the “rapid urbanisation trend and rising economic conditions”.

Countries including India, China and Japan are among those experiencing the most rapid adoption of advanced technological solutions in several industrial verticals. Foreign direct investment in the retail sector is boosting the construction of branded retail outlets and the use of smart solutions in these stores.

Ongoing technological advancements in wireless and remote communications are set to fuel the implementation of robotics in self-service systems over the coming years.

Wireless connected kiosk solutions can provide consumers with essential information such as transit schedules, maps and guides to the latest restaurants and events.

Major companies operating in the self-checkout system market are: Diebold Nixdorf, ECR Software, NCR, IBM, OLEA Kiosks, Pan-Oston, Toshiba Global Commerce Solutions, PCMS Group, Slabb, Versatile Credit, Fujitsu, Scandit, IER, ITAB ScanFlow, ShelfX and Digimarc.

The report added that international leaders are expanding their footprint through strategic partnerships with other local players in the overall market.

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