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 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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