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Asia Pacific Self-Checkout System Market to Exhibit Substantial Growth by 2024

Author : Ronak Bora | Published Date : 2019-05-30 

The self-checkout system market in Asia Pacific is expected to witness a substantial growth due to the increasing number of infrastructure development projects and the rising demand for automated solutions in the region. The North American self-checkout system market dominated the global industry in 2016 and this trend is expected to continue over the forecast period owing to the presence of key market players in the region and the early adoption of new technologies particularly in the U.S. The rise in investments by retailers and high demand from customers to curtail long lines are expected to favorably boost market growth in the in Latin America.

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Over the past few years, the overall self-checkout system market has grown by leaps and bounds courtesy the proliferation of retail outlets worldwide and the rising demand for a hassle-free checkout process. Numerous companies operating in the retail sector have been proactive in embracing cutting-edge technologies to alter the conventional norms of shopping. Citing an instance to highlight the rising influence of these systems, one of the most well-known apparel retailers Zara has recently implemented a self-service kiosk in its stores that let the buyer pick up orders that were placed online.

The self-checkout system market demand in hospitality applications, such as hotels and travel accommodations, restaurants, pubs, bars, cafés, and fast food joints, is expected to foresee the growing demand over the next six years given the escalating number of such formats, particularly in developing regions. Hospitality deployment mainly comprises menu and food ordering, hotel check-ins, information access, bookings and appointments, and advertising. The surging number of fast food chains and the need for eliminating long queues and wait times are expected to significantly drive the demand across hospitality applications.

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Self-checkout system providers focused on offering solutions that can be easily integrated with the latest trending technologies, such as RFID, NFC, and smartphones, to expand the market scope. The launch of Amazon Go, a convenience store opened in January 2018 without any checkout counters and automatic mobile payments is expected to offer a stiff competition to market players with the need to push on R&D for diverse and innovative solutions. Such technology breakthrough is expected to drive the evolution of the self-checkout system market.

Key vendors in the self-checkout system market comprise Diebold Nixdorf, NCR, Fujitsu, and Toshiba. Market players are investing in R&D to develop self-checkout solutions matching the diverse application needs and aesthetic environmental designs.

Moreover, the escalating requirement of automated solutions across emerging economies and the growing trend of infrastructure development would expand the self-checkout system market share in the ensuing years. In fact, as per a report collated by Global Market Insights, Inc. the worldwide self-checkout system industry size is estimated to surpass an impressive USD 4 billion by 2024.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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