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Self-service Technology Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2023

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Self-service Technology Market: Overview

Self-service technologies (SSTs) help customers in producing services without requiring any assistance from direct service employees. Various service interactions are being replaced by self-service technologies in order to improve the efficiency and accuracy. It helps employees to work remotely and provide services from any location worldwide. Also, companies are able to incorporate technology into a single product to provide an integrated remote and personal solutions with the help of self-service technologies.

Customers have the best understanding related to the requirements and functions, using self-service technologies customer can perform all the required tasks in a short period of time. Organizations are reducing costs, increasing the customer satisfaction and deliver a standardized service with the help of self-service technology.

Self-service Technology Market: Drivers

Innovative technologies such as wireless communications and remote service management are expected to drive the self-service technologies. Wireless communication has enabled remote service delivery, improving the service network of companies. Also, identification technologies such as biometric security services have facilitated financial transactions by validating identity of any person. Further, fingerprint recognition technologies are used in self-service technologies to identify the customer and provide services according to the stored information. The need to provide satisfactory and convenient services with reduced costs in industries such as banking and retail is anticipated to generate demand for self-service technology.

Manual tasks are reduced significantly, resulting in reduced human errors and faster performance. Customization of services according to customer requirements is possible due to the technologies such as remote monitoring and cashless transactions. Demand for self-service kiosks is expected to increase significantly during the forecast period providing growth opportunities to self-service technology market.

Different types of kiosks are used in the market such as the photo kiosk, ticketing kiosk and banking and financial kiosk. Customers are preferring self-service options, as it helps in reducing the check in time and increasing the customer satisfaction. Proper implementation of self-service technology is important in order to achieve customer satisfaction. Employee interaction with customers is vital in the initial stage of implementation. Customers are hesitant when a new technology is implemented, as they are not sure about the success of this new self-service technology. However, government regulations related to the tracking of customers and health and safety are restraining growth of the market. United States Department of Agriculture (USDA) has restricted the usage of unhealthy snack choices to comply with the school nutrition standards.

Self-service Technology Market: Segmentation

The self-service technology market is divided into three segments, automated teller machines (ATM), kiosks and vending machines. ATM segment is further divided into cash dispenser, smart, brown label, white label and conventional ATM. Different types of kiosks available in the market include banking and financial, informational, ticketing, digital video disc (DVD), photo, human resource and employment, patient self-service and others (telecom and restaurants). Vending machines segment is divided into beverage, candy, snack, specialized, cigarette and gumball vending machine.

Self-service Technology Market: Key Players

Major players in the self-service technology market include NCR Corporation, Crane Merchandising Systems, Azkoyen S.A, Glory Ltd., Fuji Electric Retail Systems Co. Ltd, Kiosk Information Systems, Inc., International Business Machine (IBM) Corporation, Vend-Rite, Maas International Europe B.V. and HESS Cash Systems GmbH & Co.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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