Self-Service Technology Market 2020: Potential of the Industry by Forecast 2023

Posted by Eshu Gupta on December 6th, 2020

Overview:

Market Research Future (MRFR), in the latest report on the self-service technology market 2020 states increased utility of ATM is a major factor that can cause the expansion of the world self-service market. MRFR study shows that the worldwide self-service market can rise at 13% CAGR across the evaluation period. MRFR findings reveals that the self-service market can value at USD 32 Bn by 2023.

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The escalation of the self-service technology market size can be attribute to the availability of different self-service technologies. These technologies allow consumers to get services that do not involve the participation of any third parties. The high d14egree of privacy offered by self-service technologies can impel the expansion of the market. Digital transformation is observed to act as game changer for the market. The significant improvement bought by technologies to improve customer-company interactions and provide highly effective service offerings can prompt the expansion of the world self-service technology market. Advancements in technology, such as multi-purpose smartphones and IoT can prompt the rise of the worldwide self-service technology market. The rise in consumers demand for remote sales services can also prompt the expansion of the market. The increased utility of highly effective product or services attained from such technology can boost the self-service technology market.

Segmentation:

The segment study of self-service technology market is based on application, interface, and machine type.

The machine type based segments are kiosks, vending machines, and ATMs. ATM based segments are off-site ATM, brown label ATM, white label ATM, smart ATM, on-site ATM, and others. Kiosks based segments are ticketing kiosk, check-in kiosk, information kiosk, employment kiosk, photo kiosk, and others. Vending machines based segments are beverage vending machine, snack vending machine, and candy vending machine among others.

The interface based self-service market segments are online/Internet, telephone/IVR, video/CD, and interactive kiosk.

The application based self-service segments are food & beverage, entertainment, retail, banking, transportation, security & surveillance, healthcare, and others.

Regional Analysis:

North America self-service technology market is expected to experience a sharp rise across forecast period. There are different drivers that can prompt the regional market. The growing adoption of self-service technology across major IT companies in the region is expected to spur the expansion of the regional market. The rise in the demand for automated machines that can offer service at instant access and better and seamless connectivity for devices are factors that are causing the high deployment of self-service technology. This can prompt the rise of the self-service technology market in North America. The well-established economy, the US, Mexico, followed by Canada are spending largely in the development of wireless communication solutions, such as RFIDs and sensors can fuel the escalation of the regional market valuation. In Asia Pacific, the significant expansion of the market is likely as both large and SMEs are highly applying self-service technology. High consumer spending in automate services can fuel the rise of the regional self-service market.

Key Players:

MRFR listed some well-established self-service technology suppliers. These prominent players were sorted based on product line, origin, and branches in different region. The major players are in the self-service technologies market are; NCR (US), HESS Cash Systems GmbH & Co. KG (Germany), Fujitsu (Japan), Kiosk Information Systems (US), Diebold Nixdorf, Inc. (US), HANTLE Inc. (US), Crane Merchandising Systems (US), Crane Co. (US), Azkoyen Group (Spain), Vendrite (US), GLORY LTD (Japan), IBM Corporation (US), Beta Automations (India), NEXCOM International Co., Ltd. (Japan), and XIPHIAS Software Technologies (India) among others.

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