Retail Self-checkout Terminals Market in the US Predicted to Grow at a CAGR of 15.98% during 2017-2021

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Albany, US, 2017-Oct-08 — /EPR Network/ — Retail self-checkout terminals are mainly used at retail stores to process purchases made by customers by self-scanning. These devices accept different payment modes such as cash, cashless, or card. Since all operations executed by these devices are automated, they eliminate waiting time at queues. This makes the process of scanning the purchased items and payments swift and easy. The rise in the number of retail stores and ease of use are the primary factors driving the demand for self-checkout terminals.

According to the report, the retail self-checkout terminals market in the US to grow at a CAGR of 15.98% during the period 2017-2021.

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The report covers the present scenario and the growth prospects of the retail self-checkout terminals market in the US for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

Market study identifies the increasing preference for self-checkout terminals to be one of the primary growth factors for the retail self-checkout terminals market in the US. The growing population has influenced the rise in number of small stores. Customers who purchase few items do not prefer waiting in longer queues. This is consequently inducing retail stores to adopting self-checkout terminals to provide better customer service. Additionally, the adoption of these terminals also improves cash handling, reduces manual labor, and helps in making front-end operations more efficient. Our market research analysts estimate that this market will grow steadily at a CAGR of almost 16% by 2021.

The scan and go pay system is a self-scanning system where customers pick their desired items while moving around the store and scan them themselves with their smartphones. This enables the customers to just make the payment at the self-checkout terminals since the products are scanned already. Amazon Go has already launched Just Walk Out technology that eliminates the need for customers to wait in long queues. According to our industry research experts, the emergence of scan and go pay systems will be one of the key trends that will gain traction in the retail self-checkout terminals market in the US during the next few years.

Competitive landscape and key vendors

The retail self-checkout terminals market in the US is highly fragmented due to the presence of several international, regional, and local vendors. Leading vendors in this market mainly focus on product differentiation, value-added services, and price and product portfolios. Key vendors are competing intensely by offering innovative product offerings and improved after sales service. To attain the maximum market shares, vendors in this marketspace are focusing on integrating their products with latest technologies.

The leading vendors in the market are

Crane Payment Innovations
Diebold Nixdorf
NCR
Pan-Oston
Verifone

The other prominent vendors in the market are Fujitsu, ITAB Shop Concept, NEC, Olea Kiosks, PourMyBeer, and TOSHIBA TEC.

Segmentation by end user and analysis of the retail self-checkout terminals market in the US

– Convenience stores, supermarkets, and hypermarkets
– Specialty stores

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Convenience stores, supermarkets, and hypermarkets are increasingly using self-checkout terminals to reduce consumer waiting time, to provide better customer service, and improved cash handling. Additionally, the adoption of self-checkout terminals also reduces manual labor and improves the efficiency of front-end operations. 7-eleven, Thorntons, Publix, Hy-vee, Aldi, The Kroger Company and Target are some of the key stores that have implemented self-checkout terminals.

Segmentation by functionality and analysis of the retail self-checkout terminals market in the US

– Self-checkout terminals
– Hybrid checkouts
– Cash and cashless self-checkout terminals

Cash and cashless self-checkout terminals offer several advantages such as the replacement of cashiers and the need for cash registers. Cashless payments using debit and credit cards enables the online monitoring of the cash received, prevents manual errors, and also increases customer loyalty.

Key questions answered in the report include

– What will the market size and the growth rate be in 2021?
– What are the key factors driving the retail self-checkout terminals market in the US?
– What are the key market trends impacting the growth of the retail self-checkout terminals market in the US?
– What are the challenges to market growth?
– Who are the key vendors in the retail self-checkout terminals market in the US?
– What are the market opportunities and threats faced by the vendors in the retail self-checkout terminals market in the US?
– Trending factors influencing the market shares of the US.
– What are the key outcomes of the five forces analysis of the retail self-checkout terminals market in the US?

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