U.S. Self-checkout Systems Market Size, Share & Trends Analysis Report By Component (Systems, Services), By Type (Cash-based, Cashless-based), By Application (Supermarkets & Hypermarkets)- Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

The U.S. Self-checkout Systems market size was valued at US$ 1.30 billion in 2021 and is expected to hit US$ 3.1 billion by 2030, growing at a compound annual growth rate (CAGR) of 11.9% from 2022 to 2030.

Growth Factors:

The strong emphasis retailers are putting on providing self-checkout solutions as part of the efforts to improve purchase efficiency, enhance the consumer experience, and serve a larger customer base is expected to drive the growth of the market over the forecast period. The blend of cash and cashless features offered by the latest self-checkout solutions, which can potentially allow retailers to tailor their checkout experience to the changing consumer preferences, also bodes well for the growth of the market.

Self-checkout solutions, also known as self-service kiosks, are automated systems deployed in offline stores to help in-store buyers in shopping, ordering, and transacting without any intervention from the employees or staff of the stores. The popularity of self-checkout solutions is growing as the retail industry is evolving continuously and adapting to the changing shopping habits of consumers. The growing preference of consumers for cashless transactions is prompting store owners to install cashless checkout stores to allow customers to shop, order, and transact at their convenience without having to wait in a queue. For instance, in January 2020, Weis Markets, Inc., a grocery chain based in the U.S., deployed Toshiba Global Commerce Solutions’ latest self-checkout solution across the majority of its 198 locations.

The outbreak of the COVID-19 pandemic took its toll on the U.S. market for self-checkout systems in 2020 as the demand for self-checkout systems plummeted while the adoption of contactless solutions gained traction in the wake of the social distancing norms. Although several stores and outlets implemented self-checkout systems to ensure a safe and convenient interface for customers to order and buy food and groceries, the demand for self-checkout systems plummeted as a result of the temporary closure of retail stores, restaurants, hotels, and transportation facilities in line with the restrictions imposed by the government as part of the efforts to arrest the spread of coronavirus. Nevertheless, the market has been gaining traction since the beginning of 2021 and is expected to witness significant growth over the forecast period as the restrictions are relaxed and the situation normalizes gradually.

Report Scope of the U.S. Self-checkout Systems Market

Component Insights

The systems segment dominated the market in 2021 with a revenue share of more than 76.2% and is expected to continue dominating the market over the forecast period. The growing need to reduce customer waiting times across retail stores has been driving the demand for self-checkout systems over the past few years. The growing number of grocery stores and the aggressive investments in retail automation technologies to improve consumer experience has also been driving the adoption of self-checkout systems. Looking forward, the continued introduction of innovative self-checkout systems offering advanced features, such as customizable themes and charitable donation applications, is expected to drive the growth of the segment over the forecast period.

The services segment is expected to expand at the highest CAGR over the forecast period. The services segment primarily covers the consulting and training services offered by the self-checkout vendors to the retailers. The retail transformation strategies being pursued aggressively by the U.S. retail store chains are expected to play a vital role in driving the growth of the segment. Retail transformation strategies typically envisage approaching vendors of self-checkout systems to assess the retail in-store layout and seeking advice on the implementation of self-checkout systems accordingly.

Type Insights

The cash-based self-checkout systems segment accounted for the highest revenue share of more than 52.4% in 2021. Consumers in the U.S. still prefer cash or paper-based transactions at retail stores. Hence, several retail stores in the U.S. are aggressively adopting cash-based self-checkout systems to support cash-based transactions. The continued efforts by the government to promote cash-based transactions and ban cashless stores are also expected to drive the demand for cash-based systems over the forecast period. For instance, in January 20210, New York Council announced to pass a bill to ban cashless brick and mortar stores to reduce discrimination against members that do not have access to credit cards or are unbanked.

The cashless-based self-checkout systems segment is expected to expand at the highest CAGR over the forecast period. The growth of the segment can be attributed to the rapid growth in digital transactions and subsequently, the rapid rollout of digital payment platforms. The growing preference for mobile payment transactions and card-based payments among millennial customers is also expected to contribute to the growth of the segment over the forecast period.

Application Insights

The supermarkets and hypermarkets segment accounted for the largest market share of over 51.4% share in 2021. The demand for self-checkout systems has been higher among the supermarkets and hypermarkets in the U.S. and the trend is expected to continue over the forecast period. The growing footfall at the supermarkets and the subsequent need to improve operational efficiency while enhancing customer satisfaction are driving the adoption of self-checkout systems across the supermarkets and hypermarkets in the U.S. The increasing operational costs and the subsequent need to utilize the floor space efficiently are also driving the adoption of self-checkout systems across the retail industry in the U.S.

The convenience stores segment is expected to register a significant CAGR over the forecast period. Convenience stores are increasingly adopting self-service technologies to ensure frictionless customer service on a 24x7 basis. The growing consumer preference for cashless transactions is particularly driving the adoption of self-checkout systems at convenience stores. The growing number of convenience stores across the U.S. also bodes well for the growth of the segment over the forecast period.

Key Companies & Market Share Insights

The market can be described as a consolidated and competitive market owing to the presence of established global market players and local vendors. Key vendors operating in the market include Toshiba Global Commerce Solutions; NCR Corporation; Diebold Nixdorf, Incorporated; Fujitsu; and Gilbarco Inc. These vendors are serving as strategic partners of both large and small retailers to transform the retail frontends of the latter. The strong network of direct and indirect sales channels is helping these vendors maintain their presence in the market.

Pursuing strategic initiatives, such as striking long-term agreements with retail stores, mergers, and acquisitions, and new product development, are also helping the key market players in defending their market share. For instance, in November 2019, NCR Corporation acquired POS Solutions, a point-of-sale solution provider for the retail and hospitality industry based in the U.S. The company envisaged leveraging the acquisition to strengthen its network and provide innovative solutions to the customers. Some of the prominent players operating in the U.S. self-checkout systems market are:

• NCR Corporation
• Toshiba Global Commerce Solutions
• Fujitsu
• Diebold Nixdorf, Incorporated
• Gilbarco Inc.
• Posiflex Technology, Inc.

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at U.S. for the period of 2017 to 2030

• By Component
• Systems

• Hardware
• Software
• Services
• By Type
• Cash-based Self-Checkout System
• Cashless-based Self-Checkout Systems
• By Application
• Supermarkets & Hypermarkets
• Department Stores
• Convenience Stores
• Others

Key Points Covered in U.S. Self-checkout Systems Market Study:

• Growth of U.S. Self-checkout Systems in 2022
• Market Estimates and Forecasts (2017-2030)
• Brand Share and Market Share Analysis
• Key Drivers and Restraints Shaping Market Growth
• Segment-wise
• Competition Mapping and Benchmarking
• Recommendation on Key Winning Strategies
• COVID-19 Impact on Demand for U.S. Self-checkout Systems and How to Navigate
• Key Product Innovations and Regulatory Climate
• U.S. Self-checkout Systems Consumption Analysis
• U.S. Self-checkout Systems Production Analysis
• U.S. Self-checkout Systems and Management