Retail Self-checkout Terminals Market in the US 2017-2021

Overview of the retail self-checkout terminals market in the US

Technavio's market study identifies the increasing preference for self-checkout terminals to be one of the primary growth factors for the retail self-checkout terminals market in the US. The growing population has influenced the rise in number of small stores. Customers who purchase few items do not prefer waiting in longer queues. This is consequently inducing retail stores to adopting self-checkout terminals to provide better customer service. Additionally, the adoption of these terminals also improves cash handling, reduces manual labor, and helps in making front-end operations more efficient. Our market research analysts estimate that this market will grow steadily at a CAGR of almost 16% by 2021.

The scan and go pay system is a self-scanning system where customers pick their desired items while moving around the store and scan them themselves with their smartphones. This enables the customers to just make the payment at the self-checkout terminals since the products are scanned already. Amazon Go has already launched Just Walk Out technology that eliminates the need for customers to wait in long queues. According to our industry research experts, the emergence of scan and go pay systems will be one of the key trends that will gain traction in the retail self-checkout terminals market in the US during the next few years.

Competitive landscape and key vendors

The retail self-checkout terminals market in the US is highly fragmented due to the presence of several international, regional, and local vendors. Leading vendors in this market mainly focus on product differentiation, value-added services, and price and product portfolios. Key vendors are competing intensely by offering innovative product offerings and improved after sales service.  To attain the maximum market shares, vendors in this marketspace are focusing on integrating their products with latest technologies.

The leading vendors in the market are

• Crane Payment Innovations
• Diebold Nixdorf
• NCR
• Pan-Oston
• Verifone

 The other prominent vendors in the market are Fujitsu, ITAB Shop Concept, NEC, Olea Kiosks, PourMyBeer, and TOSHIBA TEC.

Segmentation by end user and analysis of the retail self-checkout terminals market in the US

• Convenience stores, supermarkets, and hypermarkets
• Specialty stores

Convenience stores, supermarkets, and hypermarkets are increasingly using self-checkout terminals to reduce consumer waiting time, to provide better customer service, and improved cash handling. Additionally, the adoption of self-checkout terminals also reduces manual labor and improves the efficiency of front-end operations. 7-eleven, Thorntons, Publix, Hy-vee, Aldi, The Kroger Company and Target are some of the key stores that have implemented self-checkout terminals.

Segmentation by functionality and analysis of the retail self-checkout terminals market in the US

• Self-checkout terminals
• Hybrid checkouts
• Cash and cashless self-checkout terminals

Cash and cashless self-checkout terminals offer several advantages such as the replacement of cashiers and the need for cash registers. Cashless payments using debit and credit cards enables the online monitoring of the cash received, prevents manual errors, and also increases customer loyalty.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the retail self-checkout terminals market in the US?
• What are the key market trends impacting the growth of the retail self-checkout terminals market in the US?
• What are the challenges to market growth?
• Who are the key vendors in the retail self-checkout terminals market in the US?
• What are the market opportunities and threats faced by the vendors in the retail self-checkout terminals market in the US?
• Trending factors influencing the market shares of the US.
• What are the key outcomes of the five forces analysis of the retail self-checkout terminals market in the US?

Technavio also offers customization on reports based on specific client requirement.

This industry research report on the retail self-checkout terminals market in the US by Technavio is an integral part of the consumer and retail portfolio and offers insights into the major trends and evolving drivers inducing the growth of the retail systems industry. The market research experts at Technavio also take into account the market forecast, market size, and increasing demand for various retail systems products and services and offers an all-inclusive picture of the retail self-checkout terminals market in the US for the estimated period of 2017-2021.

This upcoming market research report on the retail self-checkout terminals market in the US covers vendors like WinCor Nixdorf International, Toshiba TEC,?Pan-Oston, NCR, and Fujitsu. As per our market research experts, the growing retail industry may influence the demand for retail self-checkout terminals market in the US.

Our market research analysis includes qualitative and quantitative research techniques like vendor analysis, drivers, challenges, and trend analysis. Additionally, an analysis of the market share and market size using statistical models is also carried out to help clients develop active growth strategies and keep pace with the frequently changing market landscape.

The upcoming industry report on the retail self-checkout terminals market in the US also offers insights into fast-growing segments within the consumer and retail industry, including sectors like general retail goods and services and furniture and home furnishing. Furthermore, this report also presents insights into the varying competitive landscape to give clients a realistic picture of the future direction of the industry.

Our market research methodology for the retail self-checkout terminals market in the US

Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.