Market Synopsis:
Market Research Future (MRFR), in the latest report on the self-service technology 2023 states increased utility of ATM is a major factor that can cause the expansion of the world self-service market. The Self-Service Technology market industry is projected to grow from USD 33.7 billion in 2022 to USD 73.8 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 11.87% during the forecast period (2022 - 2030). The escalation of the self-service technology market size can be attribute to the availability of different self-service technologies. These technologies allow consumers to get services that do not involve the participation of any third parties.
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Key Players:
Key companies in the Self-Service Technology market includes
- IBM Corporations (US)
- Azkoyen Group (Spain)
- Crane Co. (US)
- Dendrite (US)
- Glory Ltd (Japan)
- NCR (US)
- Kiosk Information Systems (US)
The high degree of privacy offered by self-service technologies can impel the expansion of the market. Digital transformation is observed to act as game changer for the market. The significant improvement bought by technologies to improve customer-company interactions and provide highly effective service offerings can prompt the expansion of the world self-service technology market. Advancements in technology, such as multi-purpose smartphones and IoT can prompt the rise of the worldwide self-service technology market. The rise in consumers demand for remote sales services can also prompt the expansion of the market. The increased utility of highly effective product or services attained from such technology can boost the self-service technology market.
Market Segmentation:
The global self-service technology market has been segmented based on application, interface, and machine type. On the basis of application, the market for self-service technology is segmented based on banking, entertainment, food & beverage, healthcare, security & surveillance, transportation, retail, and others. Additionally, the market on the basis of interface, is segmented into interactive kiosk, online/Internet, video/CD, and telephone/IVR. The global market for self-service technology is also covered based on the machine type segment which is further split into ATMs, kiosks, and vending machines.
Major elements such as high maintenance cost could obstruct the self-service technology market growth. However, according to the self-service technology market research report, introduction of biometric security solutions along with advancements in wireless technologies will propel growth throughout the forecast period. The self-service technology market is set to register growth at a high CAGR owing to these key factors. The exploration of application, interface, and machine type segments along with regional markets has been given in the global self-service technology market research report. The research analysts studying the self-service technology market have put out market forecasts in the self-service technology market research report in order to support self-service technology market-based companies. The self-service technology market research report provides an extensive understanding of the self-service technology market based on the information and forecasts till 2032.
Regional Analysis:
North America dominates the global self-service technology market. Advancements in technologies and inclination towards deploying self-service machines due to workforce shortages are major driving forces behind the vast market demand. Besides, the presence of well-established infrastructures and technology providers in the region impacts the market growth positively.
The self-service technology market in Europe is expected to witness rapid growth over the forecast period. Factors such as the burgeoning BFSI, healthcare sector, and travel industry improving economic conditions in the region are supporting the market growth considerably. Enterprises in the region are taking a high interest in targeting self-service technology to meet changing customer requirements.
The Asia Pacific self-service technology market is expected to grow at the fastest rate. Burgeoning businesses in retail and telecommunication sectors help the market increase, allowing increasing self-service machines' deployments. Additionally, other burgeoning industries such as BFSI, media & entertainment, travel, and healthcare provide impetus to the market growth.
Industry News:
Enlighten, the pioneer in technology and marketing solutions, has announced the launch of AdSuite, a new SBB self-service ad buying platform to better understand, access and connect cannabis consumers during their consumer journey. The all-in-one marketing platform of AdSuite enables advertising campaigns to be bought, administered and calculated fast and easily. In order to seamlessly power campaigns through different publicity platforms, Enlighten uses consumer and local data to give consumers a clear view of the success of any campaign, so that not only new customers are found, maintained and attracted but also informed decision-making can be made.
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Mar 23, 2021 - Openprise, a leader in data orchestration solutions, launched an industry-first solution – Openprise App Factory that enables DevOps teams to create self-service apps without writing code. App Factory applications deliver self-service access to data supporting go-to-market processes like territory assignment and lead routing, lead scoring, segmentation, campaign attribution, list loading, and hundreds more.
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