Self Services Technologies Market Size to Reach $88.33 billion by 2030 at a CAGR of 10.55%, Predicts AMR Study
August 5, 2022
The boom in the retail sector as well as emerging infrastructures in this region is expected to be a key factor to facilitate the growth of the market.
PORTLAND, PORTLAND, OR , UNITED STATES , August 5, 2022 /EINPresswire.com/ -- The global self services technologies market is impacted by factors, such as upsurge in the demand for automated systems, growth of self services technology industry in developing countries, technology advancements, and rise in trend of card skimming. However, government regulation and mature market are anticipated to hamper the market growth.
The global self service technologies market was valued at $32.23 billion in 2020, and is projected to reach $88.33 billion by 2030, registering a CAGR of 10.55%.
Key market players such as - Kiosk Information Systems Inc., NCR Corporation, HESS Cash System GabH & Co., Fujitsu, Glory Ltd., Azkoyen Group, Crane Co., Maas International Europe B.V., Vent-Rite, and IBM Corporation.
Asia-Pacific is expected to observe highest growth rate during the forecast period. Increase in investments for global self services technologies industry solutions among countries, such as China, Japan, Thailand, India, and Indonesia fuel the growth of the market. In India, the ATM industry is growing at an exponential rate. Since many banks still operate under proprietary networks, the increase in number of banking customers is likely to foster the growth of the ATM market. The demand for vending machine has grown tremendously in this region. Japan and China, being the major contributors to this growth, have now reached a point of saturation. In Japan, for every 23rd person, there is self service assistance in the form of vending machines, kiosks, and ATMs.
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Post COVID-19, the global self services technologies market was valued at $32.23 billion in 2020, and is projected to reach $88.33 billion by 2030, registering a CAGR of 10.55%. The current estimation of 2030 is projected to be higher than pre-COVID-19 estimates. The outbreak of COVID-19 has changed the face of self service in healthcare, manufacturing, and other non-retail sectors. The pandemic has radically shifted consumer and business behavior. With increased distancing and stringent regulations, businesses are forced to stop their operations, which limits their spending on opportunistic technologies. Despite the short-term social lockdown impact, the increased demand for groceries, medical supplies, general merchandise, and home improvement among shoppers forced businesses to adopt self-assisted technologies to promote social distancing and zero-touch practice. Furthermore, limited workforce availability due to lockdown and initiation of traveling and transportation has also led to extensive adoption of self service checkout systems.
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