Self Service Technology Market Size Opportunities, Revenue Analysis and - Forecasts from 2020 to 2023

Global Self-Service Technologies market is expected to grow at a substantial CAGR during 2018 to 2027 due to rapid demand for self-automated machines in which Self-Service Technologies are widely used. The major growth driver of Self-Service Technologies Market includes growing technical advancement of remote and wireless communications, growing awareness about biometric securities such as fingerprint recognition, increasing demand for self-service machines and automated devices among others.

Global Self-Service Technology Market Information, by Type (ATM machines, Kiosk machines, Vending machines), Application (Retail, Banking, Healthcare, Food & Beverage, Security & Surveillance) - Forecast 2027

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Self-Service Technologies Market – Overview

The global Self Service Technology Market Size is growing with the rapid pace is mainly due increasing awareness about biometric securities such as fingerprint recognition among people, which is propelling the Self-Service Technologies market growth to the large extent. According to a recent study report published by the Market Research Future, The global market of Self-Service Technologies is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2027, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2027).The major growth driver of Self-Service Technologies Market includes growing technical advancement of remote and wireless communications, growing awareness about biometric securities such as fingerprint recognition, increasing demand for self-service machines and automated devices among others. As automation and smart technologies achieve various new advances every day, self service technologies have also similarly come a long way. Market Research Future which concentrates on market reports linked to the Information and Communications Technology sector amongst others recently made available a report on this sector. The high CAGR per cent and lucrative revenue potential is expected to boost the growth trajectory of the market in the forecast period.

The progress observed in wireless and remote technology has been one of the factors that have been crucial to the development of the market. Increasing levels of automation in the domain of self service technology such as the heightened use of biometric tech, iris scans have led to new avenues for product development in the sector. Amplified interest in adoption of self service technology is expected to be beneficial for the forecast period.

Key Players:
Some of the major players in Global Self-Service Technologies Market include Kiosk Information Systems Inc. (US), NCR Corporation (US), HESS Cash Systems GmbH & Co. (Germany), Fujitsu, Glory Ltd., Azkoyen Group, Crane Co. (USA), Mass International Europe B.V. (Netherlands), Vend-Rite and IBM Corporation (US) among others.

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Industry Segments

The Self-Service Technologies Market on the global level can be divided on the basis of application and machine type.

On the basis of Application: Food & Beverage, Banking, Healthcare, Retail and Security & Surveillance among others. The Retail banking and F &B application has the most widespread applications in terms of the market growth.

On the basis of Machine Type: Vending machines, ATM and kiosks among others. The vending machines and ATM segment is expected to grow at a rapid rate in the forecast period.

Industry Updates:

January 08, 2018 - Kiosk Information Systems Inc., a market leader of Self-service Solutions has announced their partnership with Jifiti Gifting Solutions to offer an advanced self-service gift registry experience for retailers and brands. With these solution, the customer can look up registries in the store, locate gift selections, and purchase the items all within the registry kiosk.

Mar 2018 An automated system for product recognition that has been created by an Australian start-up company will help end the capability of customers to make use of the machines in an irregular manner. The company, Tiliter Technology has created the brains to enable smart checkouts which can automatically recognize a product so customers can not cheat the system. It also eliminates the need for having to enter additional information or scanning barcodes. The makers of the tech stated that the system uses a camera to discover the product and then automatically adds the information into the system at the point-of-sale.

Feb, 2016 - Kiosk information systems have announced about its new development CORE K-Nect, advanced remote monitoring applications which provide real-time visibility of a kiosk network. It offers other solution including monitoring and alerts on system connectivity, application status, individual component performance and others.

June 2016 – NCR Corporation, one of the leading consumer transaction technologies has announced about its latest development EMV encoded payment securities with counterpoint 8.4.6.17 to provide benefits of merchant to retailers.

Detailed Regional Analysis

The region wise division of the market for self service technologies has been divided into Europe, Asia Pacific, North America and Rest of the World. The North-American region controls the market for self-service technologies with the main market portion owing to the rising demand for machines that are self-automated and mounting advancement in wireless and remote communication in the region, and consequently accounting for a considerable amount in millions and is anticipated to grow over by significantly by billion dollars by 2027. The self-service technologies market in the European region is anticipated to expand at an encouraging CAGR per cent from the year 2016 to 2027. The Asia-Pacific region for self-service technologies industry is anticipated to grow at encouraging CAGR per cent in the forecast period.

Global Competitive Analysis

The businesses in this trade area are combining their resources to attain their vision for achieving a substantial portion of the business as early as possible. This has raised the possibilities for the approaching growth period significantly. The merchandise that are being provided presently differ greatly because of the rationale of the robust pace of technological discoveries. This consequence is productive for companies so they can aim to uphold their commercial enterprise's liquidity to take the most effective decisions in terms of strategy execution and designing. The profitable situations accessible in this market are being utilized by candidates who are trying to increase their market coverage by focused development which can encourage the expansion of this business sector. A few of the chief players in Self-Service Technologies Market globally comprise of NCR Corporation (US), HESS Cash Systems GmbH & Co. (Germany), Kiosk Information Systems Inc. (US) and Mass International Europe B.V. (Netherlands).

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