Self-service technologies are interfaces which allow the consumers to avail various services independent of service employee involvement. Customers prefer to use these technologies as they require fast service and hassle free transactions. The demand for self-service machines and automated devices, wireless communication, technology advancements and remote management are some of the notable factors driving the self-service technology market. Increase in security threats, such as card skimming and information hacking, is one of the major restraining factors for the market growth.
GLOBAL SELF SERVICE TECHNOLOGY MARKET BY REGION (2012–2022)
The global self-service technology market is segmented into Vending Machine, ATM and Kiosks. These types are further categorized into machine type and solution type. The solution type comprises of market by deployment and managed services. Vending Machine market is segmented into Beverage, Candy, Snack, Gumball, Cigarette and Specialized vending machines. The demand for vending machines has increased during the decade and with the introduction of cashless payment systems and smart vending technology solutions, it has gained momentum for its usage on a large scale.
ATM market is segmented into Conventional, Brown label, White label, Smart ATMs and Cash dispensers. Financial institutions are promoting ATM services to their customers, in order to reduce footfall in bank branches for financial operations. Companies such as NCR Corporation, Diebold Incorporations, and others provide managed services for ATMs installed across various locations.
Kiosks market is segmented into Photo, DVD, Ticketing, HR and Employment, Information Providing, Banking and Financial and other kiosks. In an effort to communicate with the consumers about the product, different types of interactive screens are invented and installed at various locations. These kiosks have enhanced the consumer services and are becoming key growth factor for self-service technology providers.
The geographic regions considered in the report are North America, Europe, Asia-Pacific and LAMEA (Latin America, Middle East and Africa). Asia-Pacific would dominate the self-service technology market throughout the forecast period.
Major players operating in the self-service technology market are majorly focusing on product launch strategies. The key players highlighted in the report include NCR Corporation, Diebold Inc., Fujitsu Limited, Azkoyen Group, Kiosk Information Systems Inc., Maas International B.V., IBM Corporation, Hess Cash Systems GmbH & Co. KG, Glory Limited and Crane Co.