Self-Service Technology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Self-Service Technology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global self-service technology market size reached US$ 35.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 55.4 Billion by 2028, exhibiting a growth rate (CAGR) of 7.6% during 2022-2028. The rising demand for customer self-service, the widespread adoption of cashless payment systems, and ongoing technological advancements in the industry represent some of the key factors driving the market.

Self-service technology (SST) refers to any technological system that allows customers to complete a transaction or service without the assistance of a human service provider. They can be found across numerous industries, such as retail, hospitality, healthcare, and banking. Self-service technology offers a range of benefits, such as reduced labor costs, increased efficiency, valuable customer data for analysis, and enhanced convenience, speed, and flexibility in completing transactions or accessing services. Some of the standard SST include self-checkout machines in grocery stores, interactive kiosks in fast-food restaurants, and automated teller machines (ATMs) in banks. These technologies provide customers with a convenient, efficient, and secure way to complete transactions or access services.


Self-Service Technology Market Trends:

With the rapidly evolving digital economy and growing consumer expectations for convenience, there is an escalating demand for self-service technologies that allow customers to complete transactions and access services on their terms, which is primarily driving the market growth. Besides this, these technologies can help lower the overall operational expenses of a business by reducing labor costs and improving efficiency. Moreover, the shifting preference and adoption of cashless payment systems are propelling the demand for self-service kiosks and payment terminals that can accept various payment methods, which, in turn, is creating a favorable outlook for the market. In line with this, the surging demand for self-service ticketing solutions, such as ticket vending machines and mobile ticketing apps across the flourishing transportation industry, is acting as another growth-inducing factor. In addition to this, extensive emphasis on improving the customer experience and the escalating need to improve efficiency and productivity by reducing wait times and streamlining processes are strengthening the market growth. Concurrent with this, the bolstering growth of the e-commerce sector is contributing to the market growth by impelling the demand for automated parcel lockers and self-service returns. Furthermore, innovative technological advancements, such as the development of artificial intelligence (AI) and the Internet of Things (IoT), and the adoption of digital signage to engage customers are presenting remunerative growth opportunities for the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global self-service technology market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product and application.

Product Insights:

ATM

Kiosks

Vending Machines



The report has provided a detailed breakup and analysis of the self-service technology market based on the product. This includes ATM, kiosks, and vending machines. According to the report, ATM represented the largest segment.

Application Insights:

Retail

QSR

Banking

Travel and Tourism

Healthcare

Others



A detailed breakup and analysis of the self-service technology market based on the application have also been provided in the report. This includes retail, QSR, banking, travel and tourism, healthcare, and others. According to the report, retail accounted for the largest market share.

Regional Insights:

North America

United States

Canada

Asia Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa



The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for self-service technology. Some of the factors driving the Asia Pacific self-service technology market included the rising demand for self-service machines, the increasing focus on operational efficiency and productivity, and the expanding deployment of ATMs, self-service kiosks, and vending machines.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global self-service technology market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include AZKOYEN SA, Crane Co., Diebold Nixdorf Incorporated, Fujitsu Limited, GRGBanking, HESS Cash Systems GmbH, HYOSUNG TNS Inc. (Hyosung Corporation), KIOSK Information Systems Inc., NCR Corporation, Toshiba Corporation, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report

1. How big is the global self-service technology market?

2. What is the expected growth rate of the global self-service technology market during 2023-2028?

3. What are the key factors driving the global self-service technology market?

4. What has been the impact of COVID-19 on the global self-service technology market?

5. What is the breakup of the global self-service technology market based on the product?

6. What is the breakup of the global self-service technology market based on the application?

7. What are the key regions in the global self-service technology market?

8. Who are the key players/companies in the global self-service technology market?