Self-Service Technology are technological interfaces that enable customers to produce a service independent of direct service employee involvement. Major self-service technologies include automated teller machines (ATMs), automated hotel checkout, banking by telephone, and services over the Internet, such as Federal Express package tracking and online brokerage services. To add on, digital transformation has tremendously changed the interaction between company as well as customers and service offerings. Developments in technology such as smartphones, and IoT have also surged the need for instant fulfilment among consumers. Furthermore, technology acceptance, positive consumer intention to self-service technologies, ease of use, and enhanced reliability and perceived interactivity along with widespread readiness of self-service technology among rural as well as urban areas are some of the notable factors affecting the growth prospects of self-service technologies. It has been anticipated as per the survey that more than 85% of companies expect that self service will be the fastest growing channel in customer service by 2021 across the globe.
Based on product type, the self-service technology market is classified into vending machines, ATMS and kiosks. Vending Machines occupied maximum market share in 2019. Based on vending machine product category, the market is classified into beverage, candy, snacks, gumball, cigarette and specialized. Nowadays, fast-paced world is being increasingly characterized by technology-facilitated transactions. Growing numbers of customers interact with technology to create service outcomes instead of interacting with a service firm employee. With a rapid growth of technologies in the world, various technology innovations are introduced in order to facilitate people's needs and necessities. Self Service technologies one among them.
Based on ATM product category, the market is segmented into conventional, brown label, white label, smart ATM and cash dispenser. Brown Label accounted for the highest revenue share during the period. Based on Kiosks product category, the market is segmented into photo, DVD, Ticketing, HR& Employment, Patient Self Service, Information Providing and banking and financial. Ticketing accounted for the highest revenue share during the period. Self Service technologies can also be found in tourism and hospitality industry which are airline ticketing machines, automatic teller machines, and computer-based booking services. Further instances of SSTs in tourism and hospitality industry also include Ticket Vending Machine (TVM) for train and rail mode of transport, mobile application to book hotel rooms such as Trivago,Agoda.com and Booking.com, navigation application such as WAZE for directions, check-in kiosk in hotels, self-service kiosk for food ordering, and self-service information terminal usually found in a mall.
For better understanding of the market penetration of self-service technology, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada and rest of North America), Europe (Germany, France, U.K. Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Malaysia and the Rest of Asia-Pacific) and Rest of the World. Asia Pacific constitutes a major consumer market for self-service technology. Some of the major players operating in the market include Azkoyen Group, Kiosk Information System, Crane Corp, Fujitsu, IBM, Glory Ltd, Vendrite, Embross, NCR Corporation, Beta Automations.
The Global Self Service Technology Market generated revenue of US$ 26.56 billion in 2019 and is expected to grow at a CAGR of 10.7% during the forecast period 2020-2026, to reach a market size of US$ 56.8 billion by 2026. Today's fast-paced world is being increasingly characterized by technology-facilitated transactions. Today, customers prefer to interact with technology to create service outcomes instead of interacting with a service provider. With the rapid growth of technologies, various innovations are introduced in order to facilitate people's needs and necessities. One of the innovations that have gathered great popularity among customers is Self-Service Technologies (SSTs). Self-service technologies (SSTs) are technological interfaces that enable customers to produce a service independent of direct service employee involvement. Major self-service technologies include automated teller machines (ATMs), automated hotel checkout, banking by telephone, and services over the Internet, such as Federal Express package tracking and online brokerage services. To add on, digital transformation has tremendously changed the interaction between the company as well as customers and service offerings. Developments in technology such as smartphones and IoT have also surged the need for instant fulfillment among consumers. Over time, self-service technology has grown from being an alternative way of handling certain tasks to becoming a primary channel given the benefits it entails. Some of the benefits associated with Self-Service Technologies are stated below:
- Convenience, both for the user and for the service provider: Lifestyle changes started during the second half of the 20th century meant that customer has become busier than ever and time is considered a valuable asset, so anything that saves time is considered a welcome addition
- The growing importance of delivering experiences: service providers view self-service technology as an opportunity to improve levels of customer satisfaction (and therefore retention) by using it to create products and services with an experiential focus
- Cost-effective: Self-service technology makes economic sense given the lower cost of online interactions vs frontline staff
- Demographic changes: Millennial generation and other digital natives feel at ease handling self-service technology
- Changes in expectations of Consumers: nowadays, most consumers prefer hands-on experience and a more interactive approach to technology that offers convenience and speedy transactions
- Self-service technology reflects the 24/7 culture we now live in, the evolution of self-service technology is almost a natural result of recent changes in society and in the business world
Numerous service providers are using a wide range of technologies to allow customers to consumer services or products electronically without direct contact. As self-service technologies are prominent in banking and financial services, in a similar fashion, food and beverage restaurants have also introduced self-service technologies mainly in the form of tablet computers in order to empower consumers to place orders and pay bills. Self Service technologies can also be found in the tourism and hospitality industry which are airline ticketing machines, automatic teller machines, and computer-based booking services. Further instances of SSTs in tourism and hospitality industry also include Ticket Vending Machine (TVM) for train and rail mode of transport, mobile application to book hotel rooms such as Trivago, Agoda.com and Booking.com, navigation application such as WAZE for directions, check-in kiosk in hotels, self-service kiosk for food ordering, and self-service information terminal usually found in a mall. Furthermore, in the retail industry, surveys show that more than 65% of retail customers prefer self-service options over sales assistants, whereas other studies suggest that up to 80% of surveyed shoppers would prefer shopping at venues that only offered self-check-out. It has been anticipated as per the survey that more than 85% of companies expect that self-service will be the fastest-growing channel in customer service by 2021 across the globe. However, lack of understanding encompasses to be the prominent bottleneck hampering the flourishing trend of self-service technologies. For instance, in the present scenario, connected consumers have high expectations of the brands they deal with. It has been found that over half i.e. 53% of US adults are likely to abandon an online purchase if they can't find a quick answer to their question. Also, around 45% of consumers stated they'd spend just 5 minutes searching for information on a company website before giving up and going elsewhere.
?ATM segment dominated the Global Self-service technology market, with 82.2% share in 2019?
Based on the product category, the global self-service technology market is segmented into vending machines, ATM and kiosks. In 2019, the ATM segment dominated the market and is expected to maintain its dominance throughout the forecast period 2020-2026. However, the Kiosks segment is expected to witness the highest CAGR growth of 14.1% during the analyzed period. These technology-based interactions are expected to become a key criterion for long-term business success.
?Beverage Vending Machine-generated revenue of US$ 943.41 million in 2019?
Vending machine product category is further bifurcated into the beverage, candy, snacks, gumball, cigarette and specialized product vending machines. Candy vending machine-generated revenue of US$ 991.59 million by 2026. specialized product vending machines are expected to witness a CAGR growth of 11.5% during the forecast period.
?Brown Label ATM dominated the ATM segment of the Global Self-service technology market in 2019?
Global Self-service ATM segment is further bifurcated into the conventional, brown label, white-label, smart ATM and cash dispenser. In 2019, Brown Label ATM generated revenue of US$ 6,447.24 million and is expected to grow at a CAGR of 12.3% during the analyzed period. Smart ATM segment is expected to witness the highest CAGR growth of 14.8% during the forecast period 2020-2026.
?Ticketing Kiosk dominated the Self-service kiosks segment market, accounting for 40.7% share in 2019?
Based on the kiosk product category, the market is bifurcated into the photo, DVD, ticketing, HR& Employment, patient self-service, information providing and banking and financial kiosks. The patient Self-service segment is expected to generated revenue of US$ 354.59 million by 2026. The banking & Financial kiosks segment is expected to witness the highest CAGR of 16.5% during the forecast period.
?Asia-Pacific dominated the Global Self-service technology market in 2019?
For a deep-dive analysis of the industry, detailed country-level analysis is conducted for major region/country including North America (US, Canada, Rest of North America), Europe (Russia, Germany, UK, France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Malaysia, Rets of Asia-Pacific) and Rest of the World. Asia-Pacific generated revenue of US$ 9,726.81 million in 2018 and is expected to witness a CAGR growth of 12.0% during the forecast period 2020-2026. Rising urban population paired with the demand for time-saving technology in countries such as India, China and other emerging Asian countries would help the region to remain dominant during the forecast period.
Competitive Landscape-Top 10 Market Players
Azkoyen Group, Kiosk Information System, Crane Corp, Fujitsu, IBM, Glory Ltd, Vendrite, Embross, NCR Corporation, Beta Automations, are some of the prominent players operating in the self-service technology industry. Several M&A's along with partnerships have been undertaken by these players to facilitate costumers with hi-tech and innovative products.
Reasons to buy:
- Current and future market size from 2020 to 2026 in terms of value (US$)
- Combined analysis of deep-dive secondary research and input from primary research through Key Opinion Leaders of the industry
- Country-level details of the overall consumption of Self-Service Technology
- A quick review of overall industry performance at a glance
- In-depth analysis of key industry players
- Detailed analysis of export & import scenario of the industry
- A detailed analysis of regulatory framework, drivers, restraints, key trends and opportunities prevailing in the industry
- Examination of industry attractiveness with the help of Porter's Five Forces analysis and start ups
- The study comprehensively covers the market across different segments and sub-segments of the market
- Region/country Covered: North America (US, Canada, Rest of North America), Europe (Russia, Germany, UK, France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Malaysia, Rets of Asia-Pacific) and Rest of the World
Customization Options:
UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients. The Global Self Service Technology market can be customized to the country level or any other market segment.
Table of Contents
1. MARKET INTRODUCTION
1.1 Market Definition 19
1.2 Objective of the Study 19
1.3 Limitation 19
1.4 Stakeholders 20
1.5 Currency used in the Report 20
1.6 Scope of the Global Self-Service Technology Market Study 20
2. RESEARCH METHODOLOGY OR ASSUMPTION 21
2.1 Research Methodology for the Self- Service Technology Market Study 21
2.1.1 Main objective of the Self-Service Technology Market Study 22
3. INDUSTRY PERFORMANCE 23
4. EXECUTIVE SUMMARY 25
5. MARKET OVERVIEW 27
5.1 Introduction 27
5.2 Market Dynamics 29
5.2.1 Market Trend & Drivers 29
5.2.1.1 Surging Working Population 29
5.2.1.2 Perceived Ease of Use of Self-Service Technology 29
5.2.1.3 Economic Development and Urbanization 30
5.2.1.4 Technological Advancements 30
5.2.3 Market Challenges 31
5.2.3.1 Lack of Understanding 31
5.2.3.2 Low Penetration Rate 31
5.2.4 Market Opportunities 32
5.2.4.1 Increasing number of Medical Tourism 32
6. LEGAL & REGULATORY FRAMEWORK 33
6.1 General Overview 33
6.1.1 United States 33
7. DEMAND AND SUPPLY SIDE ANALYSIS 34
7.1 Demand Side Analysis 34
7.2 Supply Side Analysis 34
7.2.1 Top Partnerships 35
7.2.2 Top Mergers & Acquisitions 35
7.2.3 Top Funding 35
7.2.4 Top Business Expansion 35
7.2.5 Top Product Launches 35
7.2.6 Top Start-ups under Self Service Technology Industry 36
8. VALUE CHAIN ANALYSIS 37
8.1 Value Chain Analysis 37
9. MARKET INSIGHTS BY PRODUCT TYPE 38
9.1 General Overview 38
9.1.1 Vending Machine 39
9.1.2 ATM 40
9.1.3 Kiosks 41
10. MARKET INSIGHTS BY VENDING MACHINE PRODUCT CATEGORY 42
10.1 General Overview 42
10.1.1 Beverages Vending Machine 43
10.1.2 Snacks Vending Machine 44
10.1.3 Candy Vending Machine 45
10.1.4 Gumball Vending Machine 46
10.1.5 Cigarette Vending Machine 47
10.1.6 Specialized Vending Machine 48
11. MARKET INSIGHTS BY ATM PRODUCT CATEGORY 49
11.1 General Overview 49
11.1.1 Conventional ATM 50
11.1.2 Brown Label ATM 51
11.1.3 White Label ATM 52
11.1.4 Smart ATM 53
11.1.5 Cash Dispenser 54
12. MARKET INSIGHTS BY KIOSKS PRODUCT CATEGORY 55
12.1 General Overview 55
12.1.1 Photo Kiosks 56
12.1.2 DVD Kiosks 57
12.1.3 Ticketing Kiosks 58
12.1.4 HR& Employment Kiosks 59
12.1.5 Patient Self Service Kiosks 60
12.1.6 Information Providing Kiosks 61
12.1.7 Banking & Financial Kiosks 62
12.1.8 Other Kiosks 63
13. MARKET INSIGHTS BY SOLUTION TYPE 64
13.1 General Overview 64
13.1.1 Deployment Solutions 65
13.1.2 Managed Services 66
14. MARKET INSIGHTS BY REGION 67
14.1 General Overview 67
14.2 North America Self Service Technology Market 68
14.2.1 North Americas Self Service Technology Market, by Product Type 68
14.2.2 North America Vending Machine Market, by Product Category 69
14.2.3 North America ATM Market, by Product Category 69
14.2.4 North America Kiosks Market, by Product Category 70
14.2.5 North America Self Service Technology Market, by Solution Type 70
70
14.2.6 North America Self Service Technology Market, by Country 71
14.2.6.1 United States Self Service Technology Market 71
14.2.6.1.1 US Self Service Technology Market, by Product Type 72
14.2.6.1.2 US Vending Machine Market, by Product Category 72
14.2.6.1.3 US ATM Market, by Product Category 73
14.2.6.1.4 US Kiosks Market, by Product Category 73
14.2.6.1.5 US Self Service Technology Market, by Solution Type 74
14.2.6.2 Canada Self Service Technology Market 74
14.2.6.2.1 Canada Self Service Technology Market, by Product Type 75
14.2.6.2.2 Canada Vending Machine Market, by Product Category 75
14.2.6.2.3 Canada ATM Market, by Product Category 76
14.2.6.2.4 Canada Kiosks Market, by Product Category 76
14.2.6.2.5 Canada Self Service Technology Market, by Solution Type 77
14.2.6.3 Rest of North America Self Service Technology Market 77
14.2.6.3.1 Rest of North America Self Service Technology Market, by Product Type 78
14.2.6.3.2 Rest of North America Vending Machine Market, by Product Category 78
14.2.6.3.3 Rest of North America ATM Market, by Product Category 79
14.2.6.3.4 Rest of North America Kiosks Market, by Product Category 79
14.2.6.3.5 Rest of North America Self Service Technology Market, by Solution Type 80
14.2.6.3.6 80
14.3 Europe Self Service Technology Market 80
14.3.1 Europe Self Service Technology Market, by Product Type 81
14.3.2 Europe Vending Machine Market, by Product Category 81
14.3.3 Europe ATM Market, by Product Category 82
14.3.4 Europe Kiosks Market, by Product Category 82
14.3.5 Europe Self Service Technology Market, by Solution Type 83
14.3.6 Europe Self Service Technology Market, by Country 83
14.3.6.1 Russia Self Service Technology Market 84
14.3.6.1.1 Russia Self Service Technology Market, by Product Type 84
14.3.6.1.2 Russia Vending Machine Market, by Product Category 85
14.3.6.1.3 Russia ATM Market, by Product Category 85
14.3.6.1.4 Russia Kiosks Market, by Product Category 86
14.3.6.1.5 Russia Self Service Technology Market, by Solution Type 86
14.3.6.2 Germany Self Service Technology Market 87
14.3.6.2.1 Germany Self Service Technology Market, by Product Type 87
14.3.6.2.2 Germany Vending Machine Market, by Product Category 88
14.3.6.2.3 Germany ATM Market, by Product Category 88
14.3.6.2.4 Germany Kiosks Market, by Product Category 89
14.3.6.2.5 Germany Self Service Technology Market, by Solution Type 89
14.3.6.3 UK Self Service Technology Market 90
14.3.6.3.1 UK Self Service Technology Market, by Product Type 90
14.3.6.3.2 UK Vending Machine Market, by Product Category 91
14.3.6.3.3 UK ATM Market, by Product Category 91
14.3.6.3.4 UK Kiosks Market, by Product Category 92
14.3.6.3.5 UK Self Service Technology Market, by Solution Type 92
14.3.6.4 France Self Service Technology Market 93
14.3.6.4.1 France Self Service Technology Market, by Product Type 93
14.3.6.4.2 France Vending Machine Market, by Product Category 94
14.3.6.4.3 France ATM Market, by Product Category 94
14.3.6.4.4 France Kiosks Market, by Product Category 95
14.3.6.4.5 France Self Service Technology Market, by Solution Type 95
14.3.6.5 Italy Self Service Technology Market 96
14.3.6.5.1 Italy Self Service Technology Market, by Product Type 96
14.3.6.5.2 Italy Vending Machine Market, by Product Category 97
14.3.6.5.3 Italy ATM Market, by Product Category 97
14.3.6.5.4 Italy Kiosks Market, by Product Category 98
14.3.6.5.5 Italy Self Service Technology Market, by Solution Type 98
14.3.6.6 Spain Self Service Technology Market 99
14.3.6.6.1 Spain Self Service Technology Market, by Product Type 99
14.3.6.6.2 Spain Vending Machine Market, by Product Category 100
14.3.6.6.3 Spain ATM Market, by Product Category 100
14.3.6.6.4 Spain Kiosks Market, by Product Category 101
14.3.6.6.5 Spain Self Service Technology Market, by Solution Type 101
14.3.6.7 Rest of Europe Self Service Technology Market 102
14.3.6.7.1 Rest of Euro Self Service Technology Market, by Product Type 102
14.3.6.7.2 Rest of Euro Vending Machine Market, by Product Category 103
14.3.6.7.3 Rest of Euro ATM Market, by Product Category 103
14.3.6.7.4 Rest of Euro Kiosks Market, by Product Category 104
14.3.6.7.5 Rest of Euro Self Service Technology Market, by Solution Type 104
14.4 Asia-Pacific Self Service Technology Market 105
14.4.1 Asia Pacific Self Service Technology Market, by Product Type 105
14.4.2 Asia-Pacific Vending Machine Market, by Product Category 106
14.4.3 Asia-Pacific ATM Market, by Product Category 106
14.4.4 Asia Pacific Kiosks Market, by Product Category 107
14.4.5 Asia Pacific Self Service Technology Market, by Solution Type 107
14.4.6 Asia Pacific Self Service Technology Market, by Country 108
14.4.6.1 China Self Service Technology Market 108
14.4.6.1.1 China Self Service Technology Market, by Product Type 109
14.4.6.1.2 China Vending Machine Market, by Product Category 109
14.4.6.1.3 China ATM Market, by Product Category 110
14.4.6.1.4 China Kiosks Market, by Product Category 110
14.4.6.1.5 China Self Service Technology Market, by Solution Type 111
14.4.6.2 India Self Service Technology Market 111
14.4.6.2.1 India Self Service Technology Market, by Product Type 112
14.4.6.2.2 India Vending Machine Market, by Product Category 112
14.4.6.2.3 India ATM Market, by Product Category 113
14.4.6.2.4 India Kiosks Market, by Product Category 113
14.4.6.2.5 India Self Service Technology Market, by Solution Type 114
14.4.6.3 Japan Self Service Technology Market 114
14.4.6.3.1 Japan Self Service Technology Market, by Product Type 115
14.4.6.3.2 Japan Vending Machine Market, by Product Category 115
14.4.6.3.3 Japan ATM Market, by Product Category 116
14.4.6.3.4 Japan Kiosks Market, by Product Category 116
14.4.6.3.5 Japan Self Service Technology Market, by Solution Type 117
14.4.6.4 South Korea Self Service Technology Market 117
14.4.6.4.1 South Korea Self Service Technology Market, by Product Type 118
14.4.6.4.2 South Korea Vending Machine Market, by Product Category 118
14.4.6.4.3 South Korea ATM Market, by Product Category 119
14.4.6.4.4 South Korea Kiosks Market, by Product Category 119
14.4.6.4.5 South Korea Self Service Technology Market, by Solution Type 120
14.4.6.5 Singapore Self Service Technology Market 120
14.4.6.5.1 Singapore Self Service Technology Market, by Product Type 121
14.4.6.5.2 Singapore Vending Machine Market, by Product Category 121
14.4.6.5.3 Singapore ATM Market, by Product Category 122
14.4.6.5.4 Singapore Kiosks Market, by Product Category 122
14.4.6.5.5 Singapore Self Service Technology Market, by Solution Type 123
14.4.6.6 Malaysia Self Service Technology Market 123
14.4.6.6.1 Malaysia Self Service Technology Market, by Product Type 124
14.4.6.6.2 Malaysia Vending Machine Market, by Product Category 124
14.4.6.6.3 Malaysia ATM Market, by Product Category 125
14.4.6.6.4 Malaysia Kiosks Market, by Product Category 125
14.4.6.6.5 Malaysia Self Service Technology Market, by Solution Type 126
14.4.6.7 Rest of APAC Self Service Technology Market 126
14.4.6.7.1 Rest of APAC Self Service Technology Market, by Product Type 127
14.4.6.7.2 Rest of APAC Vending Machine Market, by Product Category 127
14.4.6.7.3 Rest of APAC ATM Market, by Product Category 128
14.4.6.7.4 Rest of APAC Kiosks Market, by Product Category 128
14.4.6.7.5 Rest of APAC Self Service Technology Market, by Solution Type 129
14.5 Rest of World Self Service Technology Market 129
14.5.1 Rest of World Self Service Technology Market, by Product Type 130
14.5.2 Rest of World Vending Machine Market, by Product Category 130
14.5.3 Rest of World ATM Market, by Product Category 131
14.5.4 Rest of World Kiosks Market, by Product Category 131
14.5.5 Rest of World Self Service Technology Market, by Solution Type 132
15. COMPETITIVE SCENARIO 133
15.1 Porter
Azkoyen Group
Kiosk Information System
Crane Corp
Fujitsu
IBM
Glory Ltd.
Vendrite
Embross
NCR Corporation
Beta Automations