Self Service Technology Market
Self-service Technology Market Forecasts to 2030 - Global Analysis By Type (Kiosks, ATM (Automated Teller Machines), Vending Machines and Other Types), By Component (Hardware, Software and Services), End User and By Geography
According to Stratistics MRC, the Global Self-service Technology Market is accounted for $39.40 billion in 2023 and is expected to reach $110.03 billion by 2030 growing at a CAGR of 15.8% during the forecast period. Self-service technology encompasses a range of interactive solutions designed to empower users with control over various processes without direct human assistance. From interactive kiosks and automated teller machines (ATMs) to self-checkout systems and digital signage, these technologies streamline operations, enhance convenience, and improve customer experiences across industries such as retail, banking and healthcare.
According to a PYMTS poll, self-service checkouts are used by 34.7% of retail shoppers because they have fewer line-ups and 49.4% do so because the process is quicker.
Market Dynamics:
Driver:
Consumer demand for convenience
Consumer demand for convenience is a primary driver for the self-service technology market. Modern consumers value quick and efficient service delivery, which self-service technologies such as kiosks, ATMs, and vending machines provide. These technologies enable users to perform various transactions and access services without the need for direct human assistance, reducing wait times and improving the overall customer experience. This convenience is particularly appealing in fast-paced environments and is a key factor in the adoption of self-service solutions, which is fueling market growth.
Restraint:
Technological obsolescence
The rapid pace of technological advancements means that self-service solutions can quickly become outdated, requiring frequent updates and replacements. This continuous need for modernization results in higher costs for businesses and can be a barrier to entry for smaller players. Additionally, the reluctance to invest in new technologies due to the fear of them becoming obsolete can hinder market growth.
Opportunity:
Expansion in emerging markets
Expansion in emerging markets presents a substantial opportunity for the self-service technology market. As economies in regions such as Asia-Pacific, Latin America, and Africa grow, there is an increasing demand for automated services. The rising middle class, urbanization, and digitalization in these areas are contributing to the adoption of self-service technologies. Moreover, the untapped potential in these markets offers significant room for growth as businesses seek to cater to a new customer base.
Threat:
Security concerns
Security concerns are a major threat to the self-service technology market. As these technologies often handle sensitive information and transactions, they are targets for fraud and cyberattacks. Ensuring the security and privacy of user data is paramount, and any breaches can lead to a loss of consumer trust and potential legal repercussions that will hinder market growth.
Covid-19 Impact:
The COVID-19 pandemic has accelerated the adoption of self-service technologies as businesses and consumers seek contactless interactions. The emphasis on minimizing physical contact to reduce virus transmission has led to increased reliance on self-service solutions across various sectors, including retail, banking, and healthcare. This shift is likely to have a lasting impact on market dynamics, reinforcing the trend towards automation and self-service.
The ATM (Automated Teller Machines) segment is expected to be the largest during the forecast period
The ATM (Automated Teller Machines) segment is expected to be the largest during the forecast period. ATMs are an essential component of the banking infrastructure, providing customers with 24/7 access to cash and other financial services. Despite the growth of digital banking, the need for physical currency remains, especially in underbanked regions. Additionally, the widespread use and necessity of ATMs in daily financial transactions ensure their continued dominance in the market.
The software segment is expected to have the highest CAGR during the forecast period
The software segment is expected to have the highest CAGR during the forecast period. Software is integral to the functionality of self-service technologies, enabling user interaction, transaction processing, and remote monitoring. As these technologies become more sophisticated, the demand for advanced software solutions that offer enhanced features, such as personalization, analytics, and integration with other digital systems, is expected to grow rapidly. Such aspects are fueling segment growth.
Region with largest share:
Over the forecast period, North America is poised to dominate the self-service technology market. The region's large share can be attributed to the high penetration of self-service technologies, the presence of leading market players, and the consumer preference for automated services. Additionally, the established financial and retail sectors in North America have been early adopters of self-service solutions, further solidifying the region's market leadership.
Region with highest CAGR:
During the forecast period, the Asia Pacific region is expected to experience rapid expansion in the self-service technology market. Factors contributing to this growth include the region's large population, rising urbanization, and increasing disposable incomes. Additionally, the growing adoption of digital technologies, coupled with the expansion of the retail and banking sectors in countries like China, India, and Southeast Asian nations, is fueling the demand for self-service solutions. The region's focus on enhancing customer experiences and operational efficiencies will further drive the adoption of self-service technologies across various industries.
Key players in the market
Some of the key players in Self-service Technology Market include Advanced Kiosks, Advantech Co., Limited, Applova Inc, Azkoyen Group, Crane Co., Diebold Nixdorf, Fastcorp Vending LLC, Frank Mayer & Associates, Inc., Fujitsu Limited, Glory Ltd, HESS Cash Systems GmbH, Hyosung TNS Inc., IBM Corporation, Kiosk Information Systems, Inc., Maas International, NCR Voyix Corporation, Solvpath, The Wonderful Company and Toshiba Tec Corporation.
Key Developments:
In May 2023, Applova Inc., a Silicon Valley-based technology company announced a partnership with Samsung to launch a self-service kiosk for restaurants. These kiosks offers contactless ordering and payment, helping restaurants streamline operations, increase sales, and boost profits.
In May 2022, the U.S.-based companies, Solvpath LLC., a self-service customer support company, and sticky.io, a subscription management and recurring billing platform provider announced collaboration. Through this collaboration both companies aim to help e-commerce merchants quickly resolve customer support inquiries using intelligent self-service methods.
Types Covered:
• Kiosks
• ATM (Automated Teller Machines)
• Vending Machines
• Other Types
Components Covered:
• Hardware
• Software
• Services
End Users Covered:
• BFSI (Banking, Financial Services and Insurance)
• Education
• Healthcare
• Manufacturing
• Offices
• Retail
• Travel and Tourism
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Self-service Technology Market, By Type
5.1 Introduction
5.2 Kiosks
5.3 ATM (Automated Teller Machines)
5.4 Vending Machines
5.5 Other Types
6 Global Self-service Technology Market, By Component
6.1 Introduction
6.2 Hardware
6.3 Software
6.4 Services
7 Global Self-service Technology Market, By End User
7.1 Introduction
7.2 BFSI (Banking, Financial Services and Insurance)
7.3 Education
7.4 Healthcare
7.5 Manufacturing
7.6 Offices
7.7 Retail
7.8 Travel and Tourism
7.9 Other End Users
8 Global Self-service Technology Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 Advanced Kiosks
10.2 Advantech Co., Limited
10.3 Applova Inc
10.4 Azkoyen Group
10.5 Crane Co.
10.6 Diebold Nixdorf
10.7 Fastcorp Vending LLC
10.8 Frank Mayer & Associates, Inc.
10.9 Fujitsu Limited
10.10 Glory Ltd
10.11 HESS Cash Systems GmbH
10.12 Hyosung TNS Inc.
10.13 IBM Corporation
10.14 Kiosk Information Systems, Inc.
10.15 Maas International
10.16 NCR Voyix Corporation
10.17 Solvpath
10.18 The Wonderful Company
10.19 Toshiba Tec Corporation
List of Tables
1 Global Self-service Technology Market Outlook, By Region (2021-2030) ($MN)
2 Global Self-service Technology Market Outlook, By Type (2021-2030) ($MN)
3 Global Self-service Technology Market Outlook, By Kiosks (2021-2030) ($MN)
4 Global Self-service Technology Market Outlook, By ATM (Automated Teller Machines) (2021-2030) ($MN)
5 Global Self-service Technology Market Outlook, By Vending Machines (2021-2030) ($MN)
6 Global Self-service Technology Market Outlook, By Other Types (2021-2030) ($MN)
7 Global Self-service Technology Market Outlook, By Component (2021-2030) ($MN)
8 Global Self-service Technology Market Outlook, By Hardware (2021-2030) ($MN)
9 Global Self-service Technology Market Outlook, By Software (2021-2030) ($MN)
10 Global Self-service Technology Market Outlook, By Services (2021-2030) ($MN)
11 Global Self-service Technology Market Outlook, By End User (2021-2030) ($MN)
12 Global Self-service Technology Market Outlook, By BFSI (Banking, Financial Services and Insurance) (2021-2030) ($MN)
13 Global Self-service Technology Market Outlook, By Education (2021-2030) ($MN)
14 Global Self-service Technology Market Outlook, By Healthcare (2021-2030) ($MN)
15 Global Self-service Technology Market Outlook, By Manufacturing (2021-2030) ($MN)
16 Global Self-service Technology Market Outlook, By Offices (2021-2030) ($MN)
17 Global Self-service Technology Market Outlook, By Retail (2021-2030) ($MN)
18 Global Self-service Technology Market Outlook, By Travel and Tourism (2021-2030) ($MN)
19 Global Self-service Technology Market Outlook, By Other End Users (2021-2030) ($MN)
20 North America Self-service Technology Market Outlook, By Country (2021-2030) ($MN)
21 North America Self-service Technology Market Outlook, By Type (2021-2030) ($MN)
22 North America Self-service Technology Market Outlook, By Kiosks (2021-2030) ($MN)
23 North America Self-service Technology Market Outlook, By ATM (Automated Teller Machines) (2021-2030) ($MN)
24 North America Self-service Technology Market Outlook, By Vending Machines (2021-2030) ($MN)
25 North America Self-service Technology Market Outlook, By Other Types (2021-2030) ($MN)
26 North America Self-service Technology Market Outlook, By Component (2021-2030) ($MN)
27 North America Self-service Technology Market Outlook, By Hardware (2021-2030) ($MN)
28 North America Self-service Technology Market Outlook, By Software (2021-2030) ($MN)
29 North America Self-service Technology Market Outlook, By Services (2021-2030) ($MN)
30 North America Self-service Technology Market Outlook, By End User (2021-2030) ($MN)
31 North America Self-service Technology Market Outlook, By BFSI (Banking, Financial Services and Insurance) (2021-2030) ($MN)
32 North America Self-service Technology Market Outlook, By Education (2021-2030) ($MN)
33 North America Self-service Technology Market Outlook, By Healthcare (2021-2030) ($MN)
34 North America Self-service Technology Market Outlook, By Manufacturing (2021-2030) ($MN)
35 North America Self-service Technology Market Outlook, By Offices (2021-2030) ($MN)
36 North America Self-service Technology Market Outlook, By Retail (2021-2030) ($MN)
37 North America Self-service Technology Market Outlook, By Travel and Tourism (2021-2030) ($MN)
38 North America Self-service Technology Market Outlook, By Other End Users (2021-2030) ($MN)
39 Europe Self-service Technology Market Outlook, By Country (2021-2030) ($MN)
40 Europe Self-service Technology Market Outlook, By Type (2021-2030) ($MN)
41 Europe Self-service Technology Market Outlook, By Kiosks (2021-2030) ($MN)
42 Europe Self-service Technology Market Outlook, By ATM (Automated Teller Machines) (2021-2030) ($MN)
43 Europe Self-service Technology Market Outlook, By Vending Machines (2021-2030) ($MN)
44 Europe Self-service Technology Market Outlook, By Other Types (2021-2030) ($MN)
45 Europe Self-service Technology Market Outlook, By Component (2021-2030) ($MN)
46 Europe Self-service Technology Market Outlook, By Hardware (2021-2030) ($MN)
47 Europe Self-service Technology Market Outlook, By Software (2021-2030) ($MN)
48 Europe Self-service Technology Market Outlook, By Services (2021-2030) ($MN)
49 Europe Self-service Technology Market Outlook, By End User (2021-2030) ($MN)
50 Europe Self-service Technology Market Outlook, By BFSI (Banking, Financial Services and Insurance) (2021-2030) ($MN)
51 Europe Self-service Technology Market Outlook, By Education (2021-2030) ($MN)
52 Europe Self-service Technology Market Outlook, By Healthcare (2021-2030) ($MN)
53 Europe Self-service Technology Market Outlook, By Manufacturing (2021-2030) ($MN)
54 Europe Self-service Technology Market Outlook, By Offices (2021-2030) ($MN)
55 Europe Self-service Technology Market Outlook, By Retail (2021-2030) ($MN)
56 Europe Self-service Technology Market Outlook, By Travel and Tourism (2021-2030) ($MN)
57 Europe Self-service Technology Market Outlook, By Other End Users (2021-2030) ($MN)
58 Asia Pacific Self-service Technology Market Outlook, By Country (2021-2030) ($MN)
59 Asia Pacific Self-service Technology Market Outlook, By Type (2021-2030) ($MN)
60 Asia Pacific Self-service Technology Market Outlook, By Kiosks (2021-2030) ($MN)
61 Asia Pacific Self-service Technology Market Outlook, By ATM (Automated Teller Machines) (2021-2030) ($MN)
62 Asia Pacific Self-service Technology Market Outlook, By Vending Machines (2021-2030) ($MN)
63 Asia Pacific Self-service Technology Market Outlook, By Other Types (2021-2030) ($MN)
64 Asia Pacific Self-service Technology Market Outlook, By Component (2021-2030) ($MN)
65 Asia Pacific Self-service Technology Market Outlook, By Hardware (2021-2030) ($MN)
66 Asia Pacific Self-service Technology Market Outlook, By Software (2021-2030) ($MN)
67 Asia Pacific Self-service Technology Market Outlook, By Services (2021-2030) ($MN)
68 Asia Pacific Self-service Technology Market Outlook, By End User (2021-2030) ($MN)
69 Asia Pacific Self-service Technology Market Outlook, By BFSI (Banking, Financial Services and Insurance) (2021-2030) ($MN)
70 Asia Pacific Self-service Technology Market Outlook, By Education (2021-2030) ($MN)
71 Asia Pacific Self-service Technology Market Outlook, By Healthcare (2021-2030) ($MN)
72 Asia Pacific Self-service Technology Market Outlook, By Manufacturing (2021-2030) ($MN)
73 Asia Pacific Self-service Technology Market Outlook, By Offices (2021-2030) ($MN)
74 Asia Pacific Self-service Technology Market Outlook, By Retail (2021-2030) ($MN)
75 Asia Pacific Self-service Technology Market Outlook, By Travel and Tourism (2021-2030) ($MN)
76 Asia Pacific Self-service Technology Market Outlook, By Other End Users (2021-2030) ($MN)
77 South America Self-service Technology Market Outlook, By Country (2021-2030) ($MN)
78 South America Self-service Technology Market Outlook, By Type (2021-2030) ($MN)
79 South America Self-service Technology Market Outlook, By Kiosks (2021-2030) ($MN)
80 South America Self-service Technology Market Outlook, By ATM (Automated Teller Machines) (2021-2030) ($MN)
81 South America Self-service Technology Market Outlook, By Vending Machines (2021-2030) ($MN)
82 South America Self-service Technology Market Outlook, By Other Types (2021-2030) ($MN)
83 South America Self-service Technology Market Outlook, By Component (2021-2030) ($MN)
84 South America Self-service Technology Market Outlook, By Hardware (2021-2030) ($MN)
85 South America Self-service Technology Market Outlook, By Software (2021-2030) ($MN)
86 South America Self-service Technology Market Outlook, By Services (2021-2030) ($MN)
87 South America Self-service Technology Market Outlook, By End User (2021-2030) ($MN)
88 South America Self-service Technology Market Outlook, By BFSI (Banking, Financial Services and Insurance) (2021-2030) ($MN)
89 South America Self-service Technology Market Outlook, By Education (2021-2030) ($MN)
90 South America Self-service Technology Market Outlook, By Healthcare (2021-2030) ($MN)
91 South America Self-service Technology Market Outlook, By Manufacturing (2021-2030) ($MN)
92 South America Self-service Technology Market Outlook, By Offices (2021-2030) ($MN)
93 South America Self-service Technology Market Outlook, By Retail (2021-2030) ($MN)
94 South America Self-service Technology Market Outlook, By Travel and Tourism (2021-2030) ($MN)
95 South America Self-service Technology Market Outlook, By Other End Users (2021-2030) ($MN)
96 Middle East & Africa Self-service Technology Market Outlook, By Country (2021-2030) ($MN)
97 Middle East & Africa Self-service Technology Market Outlook, By Type (2021-2030) ($MN)
98 Middle East & Africa Self-service Technology Market Outlook, By Kiosks (2021-2030) ($MN)
99 Middle East & Africa Self-service Technology Market Outlook, By ATM (Automated Teller Machines) (2021-2030) ($MN)
100 Middle East & Africa Self-service Technology Market Outlook, By Vending Machines (2021-2030) ($MN)
101 Middle East & Africa Self-service Technology Market Outlook, By Other Types (2021-2030) ($MN)
102 Middle East & Africa Self-service Technology Market Outlook, By Component (2021-2030) ($MN)
103 Middle East & Africa Self-service Technology Market Outlook, By Hardware (2021-2030) ($MN)
104 Middle East & Africa Self-service Technology Market Outlook, By Software (2021-2030) ($MN)
105 Middle East & Africa Self-service Technology Market Outlook, By Services (2021-2030) ($MN)
106 Middle East & Africa Self-service Technology Market Outlook, By End User (2021-2030) ($MN)
107 Middle East & Africa Self-service Technology Market Outlook, By BFSI (Banking, Financial Services and Insurance) (2021-2030) ($MN)
108 Middle East & Africa Self-service Technology Market Outlook, By Education (2021-2030) ($MN)
109 Middle East & Africa Self-service Technology Market Outlook, By Healthcare (2021-2030) ($MN)
110 Middle East & Africa Self-service Technology Market Outlook, By Manufacturing (2021-2030) ($MN)
111 Middle East & Africa Self-service Technology Market Outlook, By Offices (2021-2030) ($MN)
112 Middle East & Africa Self-service Technology Market Outlook, By Retail (2021-2030) ($MN)
113 Middle East & Africa Self-service Technology Market Outlook, By Travel and Tourism (2021-2030) ($MN)
114 Middle East & Africa Self-service Technology Market Outlook, By Other End Users (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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