$4.58 Billion Self-Checkout Systems Market by Offering, Mounting Type, Model Type & End Users - Global Forecast to 2022 - Research and Markets

DUBLIN--()--Research and Markets has announced the addition of the "Self-Checkout Systems Market by Offering (Hardware, Software, and Services), Mounting Type (Standalone and Wall Mounted & Countertop), Model Type (Cash Model and Cashless Model), End User, and Geography - Global Forecast to 2022" report to their offering.

The self-checkout systems market was valued at USD 2.24 Billion in 2015 and is expected to reach USD 4.58 Billion by 2022, at a CAGR of 10.7% during the forecast period.

Increasing demand for cashless model type self-checkout systems is one of the major factors fueling the growth of this market. The advantages of cashless model type systems over cash model type systems, such as lower price and lesser complexity, have led to increase in the adoption rate of these systems, especially in convenience stores, specialty stores, and other small retail stores. The reluctance of customers to use self-checkout systems and the increased risk of loss of inventory for retailers are the major factors limiting the growth of the self-checkout systems market.

The growth of this market is being propelled by the growing deployment of these systems in various formats of retail stores such as supermarkets, hypermarkets, department stores, and convenience stores. The major reason behind this increase in demand is the ability of these systems to help retailers in reducing the checkout time, providing more personalized services at the store, and reducing the operational cost of the stores.

The supermarkets held the largest share of the self-checkout systems market in 2015 followed by hypermarkets and department stores. Supermarkets, hypermarkets, and department stores are the large store formats due to which their requirement for checkout lanes is usually more than other formats of the retail stores, which leads to a high demand for the self-checkout systems from these stores.

Market Dynamics

Drivers

  • Increase in Checkout Speed
  • Reduces Operational Cost
  • Caters to the Labor Shortage Issues Across the Developed Countries

Restraints

  • Reluctance to Use Self-Checkout Systems
  • Increased Risk of Loss of Inventory

Opportunities

  • Growing Demand from Retail Stores Such As Convenience Stores And Specialty Stores

Challenges

  • Successful Implementation of Self-Checkout Systems

Companies Mentioned

  • Computer Hardware Design, Ltd.
  • Diebold Nixdorf, Inc.
  • Ecr Software Corporation
  • Fujitsu Limited
  • IER
  • ITAB Scanflow Ab
  • NCR Corporation
  • Pan-Oston Co.
  • Pcms Group Plc
  • Slabb Inc.
  • Toshiba Tec Corporation

For more information about this report visit http://www.researchandmarkets.com/research/cfs69b/selfcheckout

Contacts

Research and Markets
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press@researchandmarkets.com
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Related Topics: Point of Sale Equipment

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Related Topics: Point of Sale Equipment