Self-Checkout System Market Size and Share Analysis by Offering (Systems, Services), Model Type (Cashless, Cash), Mounting Type (Standalone, Wall-Mounted, Mobile), Application (Entertainment, Healthcare, Hospitality, Retail)- Global Industry Demand Forecast to 2030

Market Overview

The global self-checkout system market size stood at USD 3,562.1 million in 2022, and it is expected to grow at a CAGR of 13.2% during 2022–2030, to reach USD 9,596.7 million by 2030.

The growth can be ascribed to the increasing accuracy, enhancing in-store optimization, and reducing labor costs. Furthermore, the increasing inclination towards digital payments and growing trend of self-payment are also driving the growth of the market.

Moreover, these systems gained more attention due to social distancing during the pandemic and the availability of advanced automation technology. Furthermore, inclination toward personalized shopping experiences, the surging labor costs, and the lack of skilled laborers in emerging economies are some of the other factors boosting the market growth.

Systems Category Dominates Market

The systems category dominates the market, with a share of around 60%, owing to the surging demand for advanced hardware with an easy-to-use interface. The advanced hybrid self-checkout systems provide the latest security-based features, multi-item scanning, intuitive customer interface, high-capacity coin dispensing systems, and cashless transactions. Moreover, the increasing consumer preference for both cash and cashless transactions is encouraging retailers to install these systems.

Furthermore, the services category is predicted to emerge as the faster-growing category in the coming years. The demand for effective systems to offer flexibility in the store’s front end, easy integration, and faster processing are influencing the retailers for faster adoption of such self-checkout systems. The progressing retail in-store change and need for customized systems in store layouts also contributes to the development in managed and consulting services. Moreover, modification in software and the need for professional consulting services to implement upgraded or updated software in the systems driving the growth of the category.

Cashless Category Will Achieve Faster Growth

The cashless category holds the larger share, and it is expected to grow at a CAGR of over 12% during the forecast period. This is attributed to the rising preference for digitization and surging risk of robbery. Moreover, the ease of keeping track of accurate transactions and the rising adoption of electronic payment methods. The rising application of smartphones is also supporting cashless payment transactions, to offer more convenience. According to the government website, from 24% in 2015 to 18% in 2018 to 14% in 2019, the number of people who pay for all or almost all of their transactions with cash in a typical week has progressively fallen. This shows the preference of people is increasing for the cashless model, which is driving the market expansion.

Mobile Category Holds Major Share

Based on mounting type, the mobile category holds the largest share in the market owing to its flexibility and enhanced convenience. Mobile checkout systems are becoming popular because of their portable nature and they are easy to use. These technologies enhance client satisfaction and allow faster transaction times. Moreover, improvements in product design, including RFID, screen size, battery performance, and operating system, will propel the market expansion.

Due to Large Store Structures, Retail Category Will Hold Significant Share

The retail category is expected to hold a significant share due to the surging adoption of self-checkout systems in supermarkets and hypermarkets due to their large structures as compared to individual stores, to cut down the waiting time for customers, improve the in-store shopping experience, and increase customer loyalty.

The escalating count of retailers and surging need to enhance employee efficiency while improving customer satisfaction are also contributing to the demand for self-checkout systems. Moreover, the surging employee costs and increasing requirement to utilize floor space efficiently are enabling shoppers to adopt this system.

North America Makes Largest Contribution

The North American market has the leading position in the market for self-checkout systems, and it will maintain its position till 2030, with a value of USD 4.5 billion. This is attributed to the fast adoption of technologies and the presence of key players in the region.

However, Canada has a huge demand for self-checkout systems that are being accepted by the population.

Introduction of New Technologies Is Key Trend

The self-checkout system providers are focusing on offering solutions that can be integrated with the latest technologies, such as radio frequency identification (RFID), NFC, and smartphones, which propel the market. Moreover, RFID reader helps to read the labels on the products, which are required to be purchased, by capturing the identification number of each item. The implementation of convertible such systems is a key trend, as there are times when retailers require to increase throughput, specifically during peak hours. These systems support both self- and assisted-checkout options.

On the other hand, hybrid checkout systems are designed to switch between attended-service mode and traditional cashier-operated approach. This aids in reducing stress for staff, as checkouts are cash-recycling and the staff does not need to handle cash manually. These systems are increasingly trending in the market as they help in improving efficiency in stores and consumers are also becoming familiar to expect a techno-based and personalized experience on visiting a store.

The tremendous increase in the modern educated consumer base in developing countries has been consequently encouraging retailers to deploy automated mechanisms. Pertaining to the strong influence of personal computing, mobile technology, and digital innovations, consumers nowadays prefer a retail brand that eases their purchasing experiences. For instance, with the launch of Amazon Go in 2018, the scan-and-go technology has been observed as the trend is rising in the market, which enables the customers in a store to make purchases without dealing with any checkout counters, by making automatic mobile payments. This technology is expected to be a disruptive step in enhancing the in-store experience, as it only requires a mobile app instead of a handheld scanner.

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Increasing Checkout Speed and Reducing Operational Cost Drive Market

Moreover, the usage of self-checkout systems at a store reduces the checkout time, provides more personalized services, and decreases the operational cost of the stores. The systems, including hardware, software, and service requirements, fulfill the needs of what consumers expect from store attendants and maintaining overall productivity and efficiency of purchase processes. Labor costs account for a large part of costs associated with running the front end of a retail store and the deployment of self-checkout systems aids in eliminating the heavy expenditure on labor. By automating the work of cashiers and transferring the rest to shoppers, stores save considerable labor costs.

Furthermore, various sectors, such as hospitality and retail, are focusing on faster checkout speeds so as to satisfy their customers. Moreover, such systems are simple, fast, and efficient, as well as it also enables customers to keep buying without migrating away from shopping platforms. Therefore, such factors are predicted to drive the growth of the self-checkout system market during the forecast period.

Moreover, this system also aids in lowering operational costs without compromising the quality of service. Furthermore, it reduces labor costs as one employee is able to monitor 6-10 checkout systems; which helps to handle traffic spikes and service more customers during the busy schedule.

Top Companies Operating in Self-Checkout Systems Are:

• Fujitsu Limited
• Diebold Nixdorf Incorporated
• NCR Corporation
• Toshiba Global Commerce Solutions Inc.
• Pan-Oston
• Gilbarco Veeder-Root Company
• ECR Software Corporation
• ITAB Shop Concept AB
• The International Business Machines Corporation
• StrongPoint ASA

Market Size Breakdown by Segment

This report offers deep insights into the market, with size estimation for 2017 to 2030, the major drivers, restraints, trends and opportunities, and competitor analysis.

Based on Offering

• Systems
• Services

Based on Model Type

• Cashless
• Cash

Based on Mounting Type

• Standalone
• Wall-Mounted
• Mobile

Based on Application

• Entertainment
• Healthcare
• Hospitality
• Retail

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
  • Italy
  • Spain
• Asia-Pacific
  • China
  • Japan
  • Australia
  • India
  • South Korea
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • U.A.E.
  • Saudi Arabia
  • South Africa