Self Services Technologies Market by Product and Geography - Forecast and Analysis 2022-2026

The self services technologies market share is expected to increase to USD 17.39 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 10.65%.

This self services technologies market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers self services technologies market segmentation by product (ATM, kiosks, and vending machines) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The self services technologies market report also offers information on several market vendors, including AZKOYEN SA, Beta Automation, Crane Payment Innovations, Diebold Nixdorf Inc., Euronet Worldwide Inc., Fujitsu Ltd., Glory Ltd., GRG Banking, HANTLE Inc., HESS Cash Systems GmbH, Hyosung Corp., International Business Machines Corp., KIOSK Information Systems, NCR Corp., NEXCOM International Co. Ltd., Toshiba Corp., Vend-Rite Mfg. Co., and XIPHIAS Software Technologies Pvt. Ltd. among others.

What will the Self Services Technologies Market Size be During the Forecast Period?

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Self Services Technologies Market: Key Drivers, Trends, and Challenges

The growing penetration in APAC is notably driving the self services technologies market growth, although factors such as the growing preference for digital transactions and mobile wallets may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the self services technologies industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Self Services Technologies Market Driver

One of the key factors driving growth in the self services technologies market is the growing penetration in APAC. Countries in APAC such as India, China, Indonesia, Japan, and South Korea, have witnessed an increase in investments in infrastructure and commercial sector development, including retail stores, restaurants, shopping malls, hotels, and healthcare facilities. The construction of such projects is rapidly increasing in these countries owing to the availability of a large customer base that frequents retail outlets and shopping malls. The construction of such spaces will lead to a rise in the number of retail outlets, restaurants, and payment processing locations, which will increase the demand for self-service technologies in the region. There is increasing penetration of POS machines at grocery stores and convenience stores in developing economies, such as India and China.

Key Self Services Technologies Market Trend

The emergence of NFC-based payment technology is a key self services technologies market trend that is expected to have a positive impact in the coming years. Several retail outlets are making use of NFC-based self-service POS terminals to allow consumers to pay for their purchases. One of the main reasons that big players are choosing to offer the NFC-based mobile payment option is the security features that prevent both the consumer and retailer from accessing the card information or security code without authorization. Owing to the rise in the demand for contactless payments, there has been a significant increase in the number of NFC-ready self-service POS terminals. The high penetration of NFC-based mobile handsets is one of the prime factors driving the growth of the global self-services technologies market. Thus, the growing penetration of NFC-enabled self-service POS terminals is expected to propel the growth of the global self-services technologies market.

Key Self Services Technologies Market Challenge

The growing preference for digital transactions and mobile wallets will be a major challenge for the self services technologies market during the forecast period. Digital transactions that are carried out through digital wallets are gaining prominence. A wide range of digital payment methods is available to consumers, including digital wallets, such as Amazon Pay, Google Pay, Samsung Pay, and Apple Pay. In recent years, the digital payment mode has witnessed tremendous growth over other alternatives, such as payment through cash and debit or credit cards. These factors can discourage the use of ATMs and vending machines that accept cash or cards. Government initiatives in India, such as Digital India, are aimed at promoting digital payment methods such as Unified Payments Interface (UPI) and mobile wallets. Therefore, the growing preference for digital transactions and the lower adoption of ATMs can hamper the growth of the global self-services technologies market.

This self services technologies market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global self-services technologies market as a part of the global technology hardware, storage, and peripherals market within the overall global information technology market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the self services technologies market during the forecast period.

Who are the Major Self Services Technologies Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• AZKOYEN SA
• Beta Automation
• Crane Payment Innovations
• Diebold Nixdorf Inc.
• Euronet Worldwide Inc.
• Fujitsu Ltd.
• Glory Ltd.
• GRG Banking
• HANTLE Inc.
• HESS Cash Systems GmbH
• Hyosung Corp.
• International Business Machines Corp.
• KIOSK Information Systems
• NCR Corp.
• NEXCOM International Co. Ltd.
• Toshiba Corp.
• Vend-Rite Mfg. Co.
• XIPHIAS Software Technologies Pvt. Ltd.

 

This statistical study of the self services technologies market encompasses successful business strategies deployed by the key vendors. The self services technologies market is fragmented and the vendors are deploying growth strategies such as focusing on continuous innovations to compete in the market.

Product Insights and News

• AZKOYEN SA - AZKOYEN SA is a public company headquartered in Spain. It is a global company, with limited information regarding its financials and limited information regarding its employee strength is available. Its revenue from global self services technologies is a key component of its overall revenues. 
• AZKOYEN SA - The company offers Vitro S1 Espresso self service compact coffee machine which has been designed to provide highest quality of coffee espresso based drinks that consumes less than 60 cups per day. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The self services technologies market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Self Services Technologies Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the self services technologies market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Self Services Technologies Market?

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40% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for self services technologies in North America. Market growth in this region will be slower than the growth of the market in the South American, APAC and MEA regions.

The market expansion plans of multinational fast-food chains and retail outlets, as well as the growing adoption of self-service technologies in these outlets will facilitate the self services technologies market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the COVID-19 pandemic led to a radical shift in consumer behavior, which led to the increased adoption of self-service technologies in the region. Despite the short-term negative impact caused due to the lockdowns and the shutting down of physical retail outlets, the increased demand for medical supplies, groceries, and general merchandise among consumers compelled businesses to promote social distancing and zero-touch practices by adopting self-service technologies. 

What are the Revenue-generating Product Segments in the Self Services Technologies Market?

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The self services technologies market share growth by the ATM segment will be significant during the forecast period. Even though there has been a rise in digital transactions in countries worldwide, the need for cash for transactions in developed and developing countries has continued to encourage the deployment of ATMs. Furthermore, due to the growing need for banks to reduce their operational costs and increase customer satisfaction levels, banks are increasingly deploying self-service cash recycling machines and cash-dispensing ATMs. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the self services technologies market size and actionable market insights on post COVID-19 impact on each segment.

 

Self Services Technologies Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 10.65%
Market growth 2022-2026	$ 17.39 billion
Market structure	Fragmented
YoY growth (%)	9.37
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 40%
Key consumer countries	US, Canada, China, Germany, and UK
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	AZKOYEN SA, Beta Automation, Crane Payment Innovations, Diebold Nixdorf Inc., Euronet Worldwide Inc., Fujitsu Ltd., Glory Ltd., GRG Banking, HANTLE Inc., HESS Cash Systems GmbH, Hyosung Corp., International Business Machines Corp., KIOSK Information Systems, NCR Corp., NEXCOM International Co. Ltd., Toshiba Corp., Vend-Rite Mfg. Co., and XIPHIAS Software Technologies Pvt. Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Self Services Technologies Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive self services technologies market growth during the next five years
• Precise estimation of the self services technologies market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the self services technologies industry across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of self services technologies market vendors

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