Self-Service Technology Market Size To Hit USD 99.15 Billion By 2032 Driven By Increased Automation And Consumer Demand | Research By SNS Insider

Austin, Jan. 08, 2025 (GLOBE NEWSWIRE) -- Market Size & Growth Insights:

According to the SNS Insider,“The Self-service Technology Market Size was valued at USD 35.78 Billion in 2023 and is expected to reach USD 99.15 Billion by 2032 and grow at a CAGR of 12.02% over the forecast period 2024-2032.”

Self-Service Technology Market Soars with AI Integration and Consumer Demand for Convenience

The Self-Service Technology market is experiencing significant growth due to increased consumer demand for convenience, speed, and personalized experiences. Technologies like ATMs, self-checkout kiosks, interactive kiosks, and vending machines are replacing traditional staff, offering quicker service at lower costs. In 2023, there were about 3.5 million ATMs globally, with a penetration rate of 1.5 ATMs per 1,000 adults. Self-checkout kiosks accounted for over 30% of in-store transactions at retailers like Walmart and Tesco, with a 10% year-over-year increase. Mobile payments, with over 1.3 billion users, are driving self-service adoption in sectors like retail and hospitality. AI and machine learning are enhancing these solutions, improving accuracy, customer satisfaction, and operational efficiency. Companies like Amazon, Walmart, and McDonald's are leveraging AI to optimize services, reduce wait times, and increase transaction approval rates.

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Leading Market Players with their Product Listed in this Report are:

• NCR Corporation (SelfServ ATM, FastLane Self-Checkout)
• Diebold Nixdorf (CS Series ATMs, BEETLE/iSCAN Self-Checkout)
• Fujitsu Limited (TeamPOS 7000, U-Scan Genesis)
• Glory Global Solutions (CI-10 Cash Recycling, CI-100 Cash Management)
• IBM Corporation (StorePay Kiosks, Self-checkout Solutions)
• KIOSK Information Systems (Benchmark Series Kiosks, Odyssey Series Kiosks)
• HESS Cash Systems (SmartPay Systems, HESS Coin In System)
• Toshiba Global Commerce Solutions (TCxTM Sky Self-Checkout, TCxWaveTM Kiosk)
• Panasonic Corporation (Self-Ordering Kiosk, ClearConnect POS Systems)
• Honeywell International Inc. (Smart Lane Systems, Xenon Series Scanners)
• Crane Payment Innovations (Paypod Pay Station, CPI PayCash Solutions)
• Samsung Electronics (Samsung Interactive Kiosk, Self-Service Tablets)
• Ingenico Group (Lane/7000 Series, Self/2000 Series)
• SITA (Airport Self-Service Check-in, Bag Drop Solutions)
• Verifone (MX 925, Engage Platform Self-service)
• Pyramid Computer GmbH (Polytouch 32 Kiosk, Polytouch Passport)
• Parabit Systems (Self-service Information Kiosk, Access Control Kiosk)
• Embross (V-DOT Kiosk, V-Tag Check-in Kiosk)
• Olea Kiosks Inc. (Freestanding Interactive Kiosk, Tablet Kiosk)
• ELO Touch Solutions (PayPoint Plus for Windows, I-Series for Android)

Self-service Technology Market Report Scope:

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Growth Drivers and Key Segments in the Self-Service Technology Market

By Product

In 2023, ATMs accounted for 53% of the self-service technology market, primarily due to their essential role in banking, providing 24/7 access to cash withdrawals, deposits, and account inquiries. Despite declining cash usage, ATMs remain crucial, especially in areas where cash is still preferred. Many ATMs now offer additional services like check deposits, fund transfers, and bill payments, enhancing convenience and efficiency.

Vending machines, expected to grow at the fastest CAGR from 2024 to 2032, are becoming increasingly versatile, offering a range of products beyond snacks, including fresh food, gadgets, and beauty items, boosted by cashless and contactless payment technologies.

By Interface

Online self-service technology dominated the market with a 66% share in 2023 and is projected to grow at the fastest CAGR from 2024 to 2032. This growth is driven by increasing consumer demand for speed, convenience, and flexibility. With mobile and high-speed internet, online self-service platforms provide 24/7 access to services, becoming integral to daily life.

Industries like retail, banking, and healthcare are expanding their online self-service offerings to meet consumer expectations. These platforms enable users to manage transactions, access information, and resolve issues independently. As digital literacy improves and cybersecurity strengthens, the sector's growth and dominance are set to continue.

By Application

In 2023, the retail sector held the largest market share of 31%, driven by the widespread adoption of self-checkout kiosks, vending machines, and in-store digital solutions. These technologies meet consumer expectations for fast, contactless shopping, improving convenience and efficiency. Retailers benefit from better customer flow management and reduced staffing costs during peak hours.

Quick Service Restaurants (QSRs) are expected to grow at the fastest CAGR from 2024 to 2032, as they increasingly adopt self-service technologies like self-order kiosks, digital menu boards, and mobile ordering platforms. These innovations help QSRs streamline ordering, reduce queues, and cut staffing costs, catering to rising consumer demand for fast, personalized meals.

Asia Pacific's Dominance in the Self-Service Technology Market

In 2023, the Asia Pacific region held 34% of the self-service technology market share and is expected to grow at the fastest CAGR from 2024 to 2032. This growth is fueled by the rapid adoption of self-service solutions in sectors like retail, banking, and hospitality. In China, innovations like self-checkout kiosks and vending machines, along with cashierless systems in Japan by Lawson and 7-Eleven, are reshaping retail experiences. Additionally, rising disposable incomes, urbanization, and high digital literacy in countries like South Korea and Singapore support this growth. A younger, tech-savvy population further drives the demand for self-service, ensuring continued dominance and expansion of the region's market share.

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Recent Development

• November 18, 2024, NatWest Group is modernizing its self-service banking infrastructure by partnering with NCR Atleos to upgrade over 5,500 ATMs and multi-function devices. The initiative aims to enhance customer experience with new 19” touchscreen displays, providing faster and more efficient access to financial services, reinforcing the bank's commitment to innovation and agility in self-service banking.
• Dec. 18, 2024, Smashie, an Italian smashburger chain, has partnered with Diebold Nixdorf to introduce DN Series EASY ONE self-service kiosks at its Udine location. The kiosks, which handle 70% of transactions, aim to enhance customer experience by reducing wait times and streamlining the ordering process.
• February 23, 2024, At EuroCIS 2024, Toshiba Global Commerce Solutions will showcase its innovative self-service solutions and A.I.-powered technologies designed to help retailers transform operations and enhance customer experiences. The company will highlight its modular portfolio, including self-service kiosks, computer vision, and edge computing solutions, aimed at improving store efficiency and addressing industry challenges.

T able o f Contents - Major Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

5.1 Self-service Technology Downtime and Maintenance Frequency, by Region, (2020-2023)

5.2 Self-service Technology Adoption Rate, by Region, (2020- 2023)

5.3 Self-service Technology Time Saved Per Transaction, by Region

5.4 Self-service Technology Customer Satisfaction, by Region (2023)

6. Competitive Landscape

7. Self-service Technology Market Segmentation, by Product

8. Self-service Technology Market Segmentation, by Interface

9. Self-service Technology Market Segmentation, by Application

10. Regional Analysis

11. Company Profiles

12. Use Cases and Best Practices

13. Conclusion

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