London — With large retailers such as Wal-Mart Stores, Inc. and The Kroger Co. expanding worldwide, coupled with improved technology and convenience, the global market for self-checkout terminals is expected to grow 18 percent in the coming five years, according researcher Technavio.
“The increasing conversion from assisted to self-service checkout across the retail sector globally has resulted in increased convenience and reduced time spent during checkout, which benefits both consumers as well as retailers,” says Poonam Saini, a lead analyst for retail systems at Technavio. “Additionally, this move helps increase the space inside stores, as these self-checkout terminals occupy a relatively small floor space.”
The Americas led the sector globally, with a market share of 44.25 percent during 2016. Europe, Asia-Pacific (APAC) and Middle East and Africa followed the Americas in terms of market share, the researcher reports.
APAC countries such as India and China are expected to see expansive growth in self-checkout because of an increasing number of modern format stores being introduced in the region. Developed countries are also seeing constant and steady demand for this technology, according to Technavio. Further, as more c-stores adopt self-checkout terminals, the market will continue to have healthy growth rates.