The global self-service market size was valued at USD 34.38 Billion in 2022 and is likely to reach USD 61.63 Billion by 2031, expanding at a CAGR of 6.7% during the forecast period, 2023 - 2031. The growth of the market is attributed to rising demand for automated devices, deployment of remote management systems, and technology advancements in self-service machines and wireless communication.
Self-service is the practice of helping oneself, generally while making purchases. A customer can avoid interacting with sales person or service provider. They are capable to assist themselves to buy desired products and even pay for the service through an automatic system. In customer facility, this relates to being able to solve any known query without human communication.
Self-service offerings include providing clients’ devices and data so they can discover replies to their queries. Self-service selections are accessible across essentially every industry, engaging clients to take a more dynamic hand in their own excursion. The COVID-19 outbreak inhibited the market growth as several retail service provider are rapidly shifting toward online platforms.
Self-service Market Trends, Drivers, Restraints, and Opportunities
- The facility to provide real time notifications through cloud based network is estimated to propel the market growth.
- The remote management feature reduces the maintenance cost and enables the machine to perform uniformly, which is expected to contribute to the growth of the market.
- Helping customers organize lists, consider ideas, locate merchandise, and pay for merchandise. Thus, such factors are anticipated to spur the market growth.
- High cost of the solutions and errors in self-service webcast solutions can hamper the growth of the market.
- Rising preference for self-service webcasting can create opportunities during the forecast period.
Scope of Self-service Market Report
The report on the global self-service market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Self-service Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Types (ATM, Kiosk, and Vending Machines) and End-users (Hospitality, BFSI, Travel and transportation, Healthcare, Retail and Fast Food Chains, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Fujitsu Ltd; NCR Corporation; Crane Co.; HESS Cash Systems GmbH & Co.; and KIOSK Information Systems Inc.
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Self-service Market Segment Insights
Type Segment Analysis
On the basis of types, the market is segmented into ATM, kiosk, and vending machines. The ATM segment is expected to hold a large market share during the forecast period due to rising inclination toward the acceptance of ATMs in the banking sectors and other industries. With the growing population and the response for ATMs, the market segment is expected to grow at a robust rate in the projected timeline.
Massive investments in the sector to deliver dependable ATMs and kiosk systems are serving the growth of the market. According to RBI in 2018, India has 104,011 ATMs on-site, the quantity is increased to 112,458 in year 2019 owing to adoption of digitalization and rapid urbanization.
End-users Segment Analysis
In terms of end-users, the market is categorized as hospitality, BFSI, travel and transportation, healthcare, retail and fast food chains, and others. The retail segment is projected to expand at a considerable CAGR during the forecast period. Rising number of shopping malls in developing countries is driving the growth of the market segment.
The demand for kiosks for retail uses is growing as they deliver information and promote the assistances to shoppers without the requirement for actual entry of shoppers into the retail stores. It helps to get the attention of the customer to provide the detail of products in the stores and advertising displays of goods and services.
Regional Analysis
Based on regions, the market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the projected period due to the increasing acceptance of self-service technologies by large organizations and small & medium-sized enterprises to scale their businesses and upsurge their service contributions.
Segments
The global Self-service market is segmented on the basis of
Types
- ATM
- Kiosk
- Vending Machines
End-users
- Hospitality
- BFSI
- Travel and transportation
- Healthcare
- Retail and Fast Food Chains
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key players
Competitive Landscape
The key players competing in the Self-service market are Fujitsu Ltd; NCR Corporation; Crane Co.; HESS Cash Systems GmbH & Co.; and KIOSK Information Systems Inc.
- In May 2019, Oman Arab Bank collaborated with NCR Corporation to become the first bank in Oman to install NFC contactless card-reading technology.
