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Global Self-Service Technology Market OverviewThe global market for self-service technology is estimated to grow at a significant rate during the forecast period from 2018 to 2023. Self-service technologies refer to interfaces that enable direct generation of services without the involvement of third parties. Rising digitization has altered the way companies interact with customers and offer their services. Developments in different technologies such as smartphones and the internet of things (IoT) have fueled the need for instant fulfillment of required services. Self-service technologies aid organizations to provide their services to existing and potential consumers on demand in any desired location, without the need for any sales representatives. Market reports linked to information and communication technology industry have been offered by Market Research Future which makes reports on other industry verticals that aims to study the current market scenarios better.
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The increased level of investment in self-service technologies particularly in the corporate sector is projected to increase the growth pace in the forecast period. The increased level of digital transformation is expected to further incentivize the market development in the upcoming years. The cost reserves that can be achieved from the implementation of self-service technology by reducing the dependence on sales representatives. Moreover, the growth in installations of self-service technologies will increase the revenues that can be generated from idle places in structures, which will further incentivize the market expansion in the forecast period.
Key Players
The global self-service technology market has many significant players including Kiosk Information Systems (US), NCR (US), HESS Cash Systems GmbH & Co. KG (Germany), Fujitsu (Japan), GLORY LTD (Japan), Azkoyen Group (Spain), Crane Co. (US), Vendrite (US), Diebold Nixdorf, Inc. (US) and IBM Corporation (US).
Industry Update
April 2019: American Jewelry and Loan is launching a self-service kiosk that allows customers to renew their loans, pick up items in pawn faster and easier, and make layaway payments. It also announced the launch of their new mobile pawn system which allows customers to renew loans, make cash-free loan/layaway payments through smartphones and computers.
Market Segmentation
The global self-service technologies market is segmented by MRFR on the basis of machine type, interface, application, and region. Based on machine type, the global self-service technologies market is segmented into ATMs, kiosks, and vending machines. The segment of ATMs is further sub-segmented into on-site ATMs, off-site ATMs, brown label ATM, and white label ATM. The segment of kiosks is segmented into photo kiosk, information kiosk, check-in kiosk, ticketing kiosk, and employment kiosk. The segment of vending machines is further sub-segmented into candy vending machine, beverage vending machine, and snack vending machine.
Based on interface, the global self-service technologies market is segmented into telephone/VR, online/internet, video/CD, and interactive kiosk. Based on application, the global self-service technologies market is segmented into retail, healthcare, food & beverages, banking, transportation, entertainment, and security & surveillance.
Self-Service Technology Market Competitive Analysis
The competitive outlook for the market is projected to diversify extensively in the coming period. The market competitors find themselves in a promising position with the capacity to handle the pace of change. The contestants are dynamically addressing the challenges to growth and are creating strategies that can have the best overall effect on the market's development. The developments in the market are likely to be fuelled by the rise in investments and product inventions. The market influencers are taking an interest in the making of strong value chains that can yield increased profits. The prospects for growth in the market have ample room for growth in the forecast period. The perceived propensity for the market’s growth has improved following the accessibility to positive aspects in the market.
Self-Service Technology Market Detailed Regional Analysis
The regions considered in the self-service technology market are North America, Europe, Asia Pacific and rest of the world. The market for self-service technology is estimated to grow at a significant rate globally through the forecast period from 2018 to 2023. The North American region is anticipated to lead the self-service technology market through the forecast period. The chief factors affecting the adoption rate of self-service technology in this region are the growing demand for automated machines to gain access to services promptly and a connected infrastructure which offers seamless connectivity for the devices. Also, the well-established economies in countries such as Canada, the US, and Mexico are increasingly devoting finances to the research and development of wireless communication technologies such as RFIDs and sensors which are anticipated to motivate the market development in the region. The Asia Pacific region is anticipated to develop at a substantial pace through the forecast period owing to the growing adoption of self-service technologies by large organizations and SMEs to spread their presence and increase their service contributions. Moreover, the growing consumer spending to power services is also boosting the growth of the market.
TABLE OF CONTENTS
Executive Summary
Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
LIST OF TABLES
Table1 Global Self-Service Technology Market, By Country, 2018–2023
Table2 North America: Self-Service Technology Market, By Country, 2018–2023
Table3 Europe: Self-Service Technology Market, By Country, 2018–2023
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LIST OF FIGURES
FIGURE 1 Global Self-Service Technology Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis of Global Self-Service Technology Market
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