Global Self-Service Technology Market Forecast to 2030 - Covid-19 Impact Analysis (By Product: ATM, Kiosks, Vending Machines; and By Application: Retail, QSR, Banking, Travel & Tourism, Healthcare, Others) - Global Market Size, Industry Trends, Competitive Landscape, and Opportunities
The global self-service technology market size accounted for US$ 33 Bn in 2021 and is anticipated to reach US$ 123 Bn by 2030 with a CAGR of 15.7% from 2022 to 2030.
According to a recent Microsoft report, approximately 77% of customers have used self-service portals when necessary. Customers prefer self-service channels to traditional ones, which is becoming increasingly clear. Customers find it beneficial because it allows them to use this service at any time of day. The entire self-service debate revolves around convenience. The primary benefit of self-service is convenience. Customers want easy access to its services with minimal hassle, a less restrictive service that is less tiring and only seeks to resolve the problem. Self-service technique offers great ability to provide this degree of comfort to all customers across all industries. Increasing investment in self-check kiosks and POS systems by various industries to enable a faster buying experience with easy access to product availability is driving market growth. Self-service technology helps with an easy and trouble-free shopping experience, as well as better quality, in the retail market, which is one of the key industries faced with the challenges of consumer requirements.
The increasing use of connected systems, mobile devices, and digital platforms is transforming customer shopping experiences in both digital and physical reality. From retail outlets to food & beverage retail formats, self-service technologies are increasingly being used to provide customers with a personalized experience. These intelligent technologies provide enhanced real-time customer support. Furthermore, the need for workforce optimization and cost reduction is driving verticals like banking, retail, travel and hospitality, and healthcare to adopt automated and intelligent technologies.
Self-service has numerous advantages for centers departments and service provider organizations, delivering significant operational and strategic efficiencies. These are some examples:
Self-service is available to staff and customers 24 hours a day, seven days a week, ensuring that jobs are logged as soon as possible, improving job rectifying times and increasing customer satisfaction.
Job logging time is reduced because jobs are logged via the web, allowing systems to pre-populate jobs with relevant data including staff information, location, and fault type, reducing the time it takes to log a job.
Increased staff productivity: Employees can log jobs and book meeting rooms more rapidly, focusing attention on their day-to-day tasks.
Self-Service Technologies have resulted in the prominence of independent interactive systems. As a result, customers can conduct real-time service transactions via the fastest modes. Technologies for self-service SSTS are more convenient, faster, and have perfect accuracy. It eliminates the additional burden of face-to-face interactions for service employees. It is a two-way street that benefits both customers and businesses.
Product, application, and region are the three categories of the global self-service technology industry. Based on the product sector, the segmentation includes ATM, Vending Machines, and Kiosks. According to our research, the kiosks segment will dominate the self-service technology market in the coming years.
The application segment is further categorized into QSR, retail, banking, travel & tourism, healthcare, and others (hospitality, education, and government). Among them, retail segment achieved a significant amount of market share in 2021.
Global Self-Service Technology Market Geographical Competition
The global self-service technology industry is divided into North America, Europe, Latin America, Asia-Pacific, and the Middle East and Africa. Asia-Pacific will have the largest market share of any region in 2021. The regional market value is being driven by developing infrastructure, rising disposable income, government budgets, and strategies for a technology-based economy. The growing number of smart city projects is increasing the regional market value. Furthermore, developing economies are seeing a significant increase in technological innovations, and their adoption is expected to be the factor with the fastest growth from 2022 to 2030.
Global Self-Service Technology Industry Segment Analysis
Market By Product
· Vending Machines
Market By Application
· Travel & Tourism
· Others (Hospitality, Education, and Government)
Self-Service Technology Market Leading Companies
This section of the study honors the market's top vendors Azkoyen S.A, International Business Machine (IBM) Corporation, Crane Merchandising Systems, Kiosk Information Systems, Inc., HESS Cash Systems GmbH, Fuji Electric Retail Systems Co. Ltd, Glory Ltd., HYOSUNG TNS, Maas International Europe B.V., NCR Corporation, HESS Cash Systems GmbH & Co., Toshiba Tec Corporation, and Vend-Rite are the key companies mentioned in the research.
Self-Service Technology Market Regions
· Rest of Europe
· Rest of Latin America
· South Korea
· Rest of Asia-Pacific
Middle East & Africa
· South Africa
· Rest of Middle East & Africa