Self-Service Technology Market Overview:
The Self-Service Technology market industry is
projected to grow from USD 33.7 billion in 2022 to USD 73.8 billion by 2030,
exhibiting a compound annual growth rate (CAGR) of 11.87% during the forecast
period (2022 - 2030).
The global Self-Service Technology Market is
growing rapidly. Self-service machines like ATMs have become an essential part
of easy banking, and kiosks are imperative in the sales and marketing of
various products ranging from supermarkets to real estate. These machines are
deployed to create a better consumer experience so as they genuinely engage
with a brand.
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Key Players:
Key companies in the
Self-Service Technology market includes,
- IBM Corporations (US)
- Azkoyen Group (Spain)
- Crane Co. (US)
- Dendrite (US)
- Glory Ltd (Japan)
- NCR (US)
- Kiosk Information Systems (US)
Especially, kiosks can help in bringing the
21st-century experience for customers, boosting sales. These machines can also
deliver more seamless checkout experiences, providing ample information on
products and services and enabling customers to order, book, and pay directly.
Resultantly, self-service machines find increasing deployments by all majoring
sectors worldwide.
Self-Service Technology Market – Segments
The self-service technology market analysis is
segmented into machine type, interface, application, and region. The machine
type segment is sub-segmented into ATMs, kiosks, vending machines, and others.
The sub-segment ATM is further bifurcated into on-site ATM, off-site ATM, white
label ATM, brown label ATM, smart ATM, and others.
The sub-segment kiosk is further bifurcated into
photo kiosk, ticketing kiosk, information kiosk, check-in kiosk, employment
kiosk, and others. The sub-segment vending machine is further bifurcated into
candy vending machines, beverage vending machines, snack vending machines, and
others.
The interface segment is sub-segmented into
telephone/IVR, online/Internet, interactive kiosk, and video/CD. The
application segment is sub-segmented into retail, banking, healthcare, food
& beverage, transportation, entertainment, security & surveillance, and
others.
Global Self-Service Technology Market – Regional
Analysis
North America dominates the global self-service
technology market. Advancements in technologies and inclination towards
deploying self-service machines due to workforce shortages are major driving
forces behind the vast market demand. Besides, the presence of
well-established infrastructures and technology providers in the region impacts
the market growth positively.
The self-service technology market in Europe is
expected to witness rapid growth over the forecast period. Factors such as the
burgeoning BFSI, healthcare sector, and travel industry improving economic
conditions in the region are supporting the market growth considerably.
Enterprises in the region are taking a high interest in targeting self-service
technology to meet changing customer requirements.
The Asia Pacific self-service technology market is
expected to grow at the fastest rate. Burgeoning businesses in retail and
telecommunication sectors help the market increase, allowing increasing
self-service machines' deployments. Additionally, other burgeoning industries
such as BFSI, media & entertainment, travel, and healthcare provide impetus
to the market growth.
Self-Service Technology Market – Competitive
Analysis
The self-service technology market appears fiercely
competitive, with several well-established players forming a competitive
landscape. Well-established players incorporate collaboration, mergers &
acquisitions, product/technology launch, and expansion to maintain their
position in this market.
They make substantial investments to drive R&D
activities and expansion. Growth in terms of technologies and product
innovations are transpired in the market. Market players strive to offer
standard and custom-designed technologies that can provide superior performance
and offer long-term service for demanding buyers.
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Industry/ Innovation/ Related News:
Mar 23, 2021 ---- Openprise,
a leader in data orchestration solutions, launched an industry-first solution –
Openprise App Factory that enables DevOps teams to create self-service apps
without writing code. App Factory applications deliver self-service access to
data supporting go-to-market processes like territory assignment and lead
routing, lead scoring, segmentation, campaign attribution, list loading, and
hundreds more.
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