Self-Checkout Systems Market - Forecasts from 2022 to 2027

The self-checkout systems market was valued at US$2.571 billion in 2020 and is projected to increase at a CAGR of 9.05% to reach US$4.716 billion by 2027.

Self-checkout systems are automated systems used in the retail, supermarket, and hospitality sectors to assist customers with self-ordering and checkout without the assistance of any staff members. Self-service checkout systems are becoming more and more popular as a result of their capacity to decrease cart abandonment, guarantee shorter lines than traditional checkout lanes, and free up staff time for other store-related tasks. The adoption of self-checkout systems has significantly increased globally as a result of merchants' rising emphasis on enhancing consumer happiness and the shopping experience. Additionally, it has become more widely used in the healthcare industry as a result of increasing investments made to enhance the patient experience.

Increasing Automation to grow the self-checkout system market

Automation is quickly replacing traditional forces of transformation in many global sectors. Self-checkout systems are projected to become more prevalent in warehouses and store operations due to the rising adoption of automation across sectors and businesses including retail and hospitality. Self-ordering, self-scan and pay, and other features that reduce long lines are factors in their rising market popularity. The adoption of robotic and automated goods has also significantly increased in the retail sector over the past several years as a result of the shrinking workforce. The market is still expanding at a steady rate thanks to technological advancements and rising IoT penetration in the retail sector. Shop owners are spending more money on technology to help with inventory management, product identification, and other challenges that occur in-store.

By Component

By component, the Self-Checkout system market is segmented into Hardware and Software segments. The hardware segment is further subdivided into Customer Displays, Belts, Price Readers, and Others segments.

By Geography

Geographically, the Self-Checkout system market is segmented as North America, South America, Europe, the Middle East and Africa, and Asia Pacific. North America holds the major share of the market owing to the rising adoption of self-checkout systems by hypermarkets and supermarkets in Canada and the US. However, the Asia Pacific region is anticipated to have the fastest growth owing to growth in the retail and hospitality industry along with growing automation and digitization trend.

Key Developments:

March 2022: The retailer Bed Bath & Beyond® has partnered with NCR Corporation, the leading self-checkout provider in the world and a provider of enterprise technology, to facilitate the transition of its stores. Bed Bath & Beyond® is giving customers a more contemporary shopping experience as it increases its dominance in the home sector. This includes an updated store layout, an eye-catching selection of owned and national brands, and in-store capabilities on its mobile apps. Bed Bath & Beyond will be able to offer self-service capabilities to its consumer's thanks to NCR, giving them more choices for a simple and quick shopping experience. Bed Bath & Beyond is providing a modern shopping experience that streamlines the trip for customers while also enabling staff to become more proactive, empowered hosts by integrating cloud-enabled SCO into its checkout strategy. The SCO solutions from NCR also offer operational advantages including quicker checkouts and sophisticated capabilities on a single potent platform, including shrink prevention and computer vision technologies. Customers can checkout according to their preferences with the addition of SCO, reducing friction, waiting times, and irritation.

March 2022: With the launch of its new Independent Software Vendor (ISV) Partner Program, Toshiba Global Commerce Solutions dramatically increased the scope of its Global Commerce Alliance Program for external retailers. Software developers have the chance to become a part of Toshiba's broad partner ecosystem, which includes leading distributors, integrators, and resellers in the retail sector. Partners in the programme will also have access to the company's global resources, including collaborative marketing, technology, and technical assistance, and the chance to work with other top independent Toshiba retail solution providers. To help hasten the go-to-market process, each ISV partner will have access to Toshiba's expertise. A partner manager is needed to increase their sales footprint, and a technical partner is needed to enable porting and give access to evaluation hardware and demo equipment for lab systems, testing, deployment, and support.

Product Offerings:

• Belting Self-Checkout: Belted self-checkout combines the convenience of self-checkout with the advantages of a belted conveyor. For establishments with large-basket clients who prefer self-service checkouts, a belted self-checkout is a fantastic choice. Pan-Self-Service Oston's Technology initiative allows customers to create a unique design centered on their chosen point of sale. The key features include hardware integration services, convenient service access panels, and use of customers' preferred point of sale, cash and coin recycling equipment, weight scale security plates with bag racks, and other customizations upon request.
• Flex Market®: The newest advancement in self-service kiosks, Flex Market shortens lines and enhances traffic flow at prepared food areas, delis, coffee counters, client boarding areas, and even rapid checkout lanes. The plug-and-play Made-to-Order functionality of Flex Market gives shop owners and customers infinite customization options when placing orders, providing flexibility to meet the needs of 21st-century retail. The item is streamlined and compact and was expertly designed and built in the United States. It is a durable hardware architecture that uses the same transactional logic throughout the company to offer a frictionless consumer experience and retain consumers. It offers three distinct placement options, is easily maintained, and has customizable configurations.

Market Segmentation:

By Component

• Hardware
• Customer Display
• Belts
• Price Readers
• Others
• Software

By Model

• Cash
• Cashless

By Type of Mounting

• Stand-Alone
• Countertop
• Wall-Mounted

By End-Use Industry

• Entertainment
• Healthcare
• Hospitality
• Retail

By Geography

• North America
• USA
• Mexico
• Canada
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• India
• China
• Japan
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others