Self-Service Technology Market to Surpass $76.78 Billion Revenue by 2030, Says P&S Intelligence

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Oct 24, 2022, 10:20 ET

NEW YORK, Oct. 24, 2022 /PRNewswire/ -- According to the latest market research study published by P&S Intelligence, the self-service technology market garnered $33.10 billion in 2021, and it is projected to advance at a rate of 9.8% from 2021 to 2030, to capture $76.78 billion revenue. It is driven by the rising demand for self-service machines, automated devices, remote administration solutions, and wireless connectivity.

In addition, the rising number of visits to retail stores and increasing purchase of goods and services boost the product demand. Hence, the expansion of the retail sector in emerging economies is projected to provide numerous opportunities to the key companies.

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ATMs To Dominate Industry

ATMs capture the largest industry share, of over 50%, and their revenue contribution is projected to rise at a substantial rate in the coming years. The growing requirement for cash in spite of the increasing volume of digital transactions proliferates the deployment of ATMs across the world.

Moreover, banks are providing automated teller machines to save operational costs and increase consumer satisfaction. Furthermore, the requirement for liquid money for low-value transactions among customers drives the installation of these machines.

Vending Machines To Experience Swift Demand Growth

Vending machine sales are predicted to rise at a rapid rate in the near future. The demand for vending machines in business hubs and corporate offices is driven by a rising desire to reduce the expenditure on hiring human tellers, lines of customers, and space requirement for setting up a manned booth. Moreover, the number of commercial buildings offering faster services via vending machines is rising.

Retail Sector Holds 34% Share of Industry Revenue

The retail industry has captured the greatest industry share, of over 34%, and it is projected to retain its dominance in the coming years. Retailers are encouraged to utilize the self-service technology led by the emerging need to deliver high-quality services and improved consumer experience.

Increasing Application of Interactive Kiosks

The rising usage of interactive kiosks across retail stores, specialty shops, convenience shops, and supermarkets is projected to fuel the self-service technology demand growth in the near future.

In the same way, self-checkout systems integrated with point-of-sale terminals are being deployed across retail stores. These machines allow customers to bypass the lengthy lines at the cashier counter, scan the barcode of the products, and pay for them directly and digitally at the POS.

Browse detailed report on Self-Service Technology Market Growth, Development and Demand Forecast to 2030

APAC Ro Retain Dominance

APAC captures the largest share of self-service technology sales revenue, of 35%, led by the increasing adoption of these systems in the developing countries of the region. Essentially, the deployment of ATMs, vending machines, and self-service kiosks across the region is due to the increasing awareness of this technology among people.

Self-Service Technology Market Report Coverage

By Product

ATMs
Kiosks
Vending Machines

By End User

Retail
BFSI
Hospitality
Healthcare
Manufacturing
Education

Regional Analysis

North America

U.S.
Canada

Europe

Germany
France
U.K.
Spain
Italy

Asia-Pacific

China
Japan
India
Australia
South Korea

Latin America

Brazil
Mexico

Middle East and Africa

South Africa
Saudi Arabia

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About P&S Intelligence

P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.

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SOURCE P&S Intelligence