Market for self-checkout systems on growth trajectory says report
By Retail4Growth Bureau | August 02, 2023
Global Self-Checkout Systems market to reach $9.3 Billion by 2030, fueled by rising demand in retail stores and advancements in technology, says a new report by Research and Markets.
The global market for Self-Checkout Systems estimated at US$3.7 Billion in the year 2022, is projected to reach a revised size of US$9.3 Billion by 2030, growing at a CAGR of 12.3% over the analysis period 2022-2030, says a new report by Research and Markets.
Systems, one of the segments analyzed in the report, is projected to record 11.5% CAGR and reach US$5.1 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Services segment is readjusted to a revised 13.2% CAGR for the next 8-year period.
The U.S. Market is Estimated at $1.5 Billion, While China is Forecast to Grow at 16.9% CAGR
The Self-Checkout Systems market in the U.S. is estimated at US$1.5 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$1.5 Billion by the year 2030 trailing a CAGR of 16.9% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.1% and 12.2% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 11.3% CAGR.
Some of the important market trends and drivers that the report analyses in detail include:
- Increasing Demand for Self-Checkout Systems from Various Formats of Retail Stores to Boost Market Growth
- Myriad Benefits of Self-Checkout Systems for Customers and Businesses to Drive Adoption
- Self-Service Checkout Systems Help Improve In-Location Experience
- Consumer Inclination towards Self-Service Solutions Bode Well for Self-Checkout Systems Market
- Pandemic-Induced Low Touch Norm and Progress Towards Cashless Society Spurs Adoption of Digital Payments
- Flexibility & Convenience of Mobile Self-Checkout Systems to Fuel Market Prospects
- Mobile Self-Checkouts to Assist Retailers and Customers in Post-COVID-19 Period
- Rising Penetration of Smart Mobile Devices to Boost Adoption of Self-Checkout Systems
- Autonomous Checkout Systems Pave Path for Future of Retail Stores
- AI Enables Retailers to Enhance Self-Checkout Experience for Customers
- AI-Powered Cameras to Spot Dodgy Shoppers at Self-Checkouts
- AI to Improve Checkout Security