Fort Collins, Colorado, Oct. 31, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, the Self-service Technology Market was valued at USD 34.2 Billion in 2022 and is expected to reach USD 77.7 Billion by 2032 at a CAGR of 8.6%.
Self-service technology enables customers to receive goods and services at any time. This includes placing orders, making secure payments, and receiving products instantly. Vending machines and ATMs are self-service options installed by many restaurants and banks for convenient operations.
ATMs have replaced the traditional method of cash withdrawal and depositing through a human interface, reducing delays and issues for bank employees and customers. ATMs are quick and efficient and allow people to withdraw cash in just a few minutes by entering their card and card details.
AI integration has facilitated the growth of self-service devices, leading to the development of quick-service stores and kiosks. These machines enable customers to place and pay for orders without waiting in long queues. They are used in airports and metro stations to ensure hassle-free check-ins and save time in queues.
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Segmentation Overview:
The global self-service technology market has been segmented into machine type, end-user, and region. ATMs are preferred by banks and customers alike as they simplify depositing and withdrawing funds without visiting banks. They provide hassle-free and quick access to cash 24/7, increasing their demand in the self-service technology market.
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Self-Service Technology Market Report Highlights:
- The global self-service technology market growth is anticipated at a CAGR of 8.6% by 2032.
- The self-service technology market is growing due to improved operational efficiency, increased use of real-time analysis and predictive analytics, and greater end-user awareness.
- North America dominates the market, most preferring self-service kiosks, especially people aged 18-34.
- Some prominent players in the self-service technology market report include Acrelec, Advanced Kiosks, AurionPro, Crane Payment Innovations, DynaTouch, Frank Mayer and Associates Inc., Kiosk Information System, Meridian Kiosks, Qwick Media, Glory Global, and others.
Industry Trends and Insights:
- Tata Consultancy Services aided VIAVI Solutions in transforming its 5G O-RAN test solutions to speed up 5G innovation launches.
- Frank Mayer and Associates added the Gateway kiosk to their self-service lineup, featuring bill payment options and automated cash payment and recycling.
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Self-Service Technology Market Segmentation:
- By Machine Type: ATM, Self Ordering Kiosks at Restaurants, Airport Self Services, and Others
- By End-user: Retail, Banking, Healthcare, Travel and Tourism, Food Service, and Others
- By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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