Self-checkout terminals: Key market research findings
- Growing availability of near field communication (NFC) payment processing options
- Rising demand from the retail industry
Technavio has released a new market research report on the global self-checkout terminals market, to its POS terminals portfolio. The global self-checkout terminals market is expected to grow at a CAGR of more than 16% between 2015 and 2019, owing to reduced queue size at checkout terminals and growth in the retail industry. The Americas dominate the global market for self-checkout terminals, accounting for around 45% of the total market share. The growth and expansion of retail stores such as Wal-Mart, Kroger, and Safeway across the globe have propelled the demand for self-checkout terminals. NCR and Wincor Nixdorf are the most successful vendors in the Americas.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“The emergence of NFC payment options has facilitated customers to make transactions without using the self-checkout systems in a store. It enables easier and faster checkout, and reduces chances of faults at self-checkout terminals. Also, this market is expected to witness the introduction of small-sized self-checkout terminals that can be accommodated in the limited floor space,” says Arushi Thakur, Industry Manager, Consumer & Retail, Technavio Research.
The self-checkout terminals has gained huge prominence in the retail industry in the recent years. For instance, Wal-Mart installed 10,000 self-checkout terminals in more than 1,000 stores in the US in 2013. These terminals are constantly upgraded and improved to keep up with the needs and convenience of the customers. Technavio’s market research analysts estimate rapid adoption of these terminals in various modern retail, grocery, and convenience stores especially in APAC and Europe.
The key vendors in the global self-checkout terminals market include Fujitsu, NCR, NEC, Pan-Oston, Toshiba and Wincor Nixdorf. It is a niche market with a limited number of suppliers. The vendors in this market compete on the basis of product differentiation, pricing, portfolios, and value-added services.
A more detailed analysis is available in the Technavio report, Global Self-Checkout Terminals Market 2015-2019.
We can customize reports by other regions and specific segments upon request.
Other Related Reports:
- POS Terminals Market in the US 2015-2019
- Global POS Terminals Market in the Retail Sector 2015-2019
- Global Interactive Kiosk Market 2015-2019
- POS Terminal Market in India 2015-2019
- Global POS Terminals Market in the Hospitality Sector 2015-2019
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