The current report offers a detailed picture of the self-service market.
This report highlights the current and future market potential for self-service and provides a detailed analysis of the competitive environment, regulatory scenario, drivers, restraints, opportunities, and trends in the market. The report also covers market projections through 2027 and key market players.
Self-service systems are user-interactive systems designed to meet the user's needs for various processes. These terminals use specialized hardware and software components to give users access to information and other applications. The three self-service devices that are most frequently utilized are ATMs, vending machines, and information kiosk terminals.
These systems are used more frequently for various purposes, including entertainment, retail, and BFSI. Self-service kiosks greatly boost customer continuity and increase business performance in multiple end-user segments. A kiosk generates a high ROI by increasing sales and reducing operating costs.
In addition to the major advantages provided to a company by satisfied customers, kiosks are becoming increasingly affordable, and this drop in kiosk costs will help small to medium-sized companies remain competitive. Studies conducted through restaurants and retail outlets have shown that customers who interact with self-service kiosks typically buy 10% to 30% more than customers who interact with business employees. Additionally, the growth in smart cities and increased demand from the BFSI sector drive the demand for self-service technology.
The restaurant industry in the U.S. continued to rebound in 2021 after a sharp decline in 2020, though it has not yet returned to pre-pandemic levels. Total online and physical restaurant visits increased by 5% year-over-year but were down 6% compared to 2019 levels.
While restaurant visits continue to increase, dine-in or on-premises visitation lags behind pre-pandemic levels. Dine-in restaurant visits decreased by 48% in the 12 months ending September 2021, compared to the pre-pandemic level in the year ending September 2019. Off-premises orders, which include carry-out, drive-thru, and delivery, increased by 20% in September compared to two years ago. Dine-in visits decreased by 10% year-over-year in the 12 months ending September 2021, while off-premises visits increased by 10%.
Full-service restaurants (FSR), which rely primarily on dine-in guests, have suffered more from the pandemic than any other restaurant industry. Visits to FSRs climbed by 7% in the fiscal year ending September 2021, compared to a 23% fall a year ago. FSR traffic was 17% lower in September than pre-pandemic, based on the 12 months ending in September 2019. Before the pandemic, FSR on-premises visits accounted for around 80% of overall segment traffic, with the remainder occurring off-premises.
For the fiscal year ending September 2021, dine-in visits accounted for 56% of FSR traffic, while off-premises orders or visits accounted for 44%. Quick-service restaurants are less reliant on dine-in visits than FSRs, and the majority, particularly chains, had well-developed off-premises businesses when the epidemic began.
However, QSRs have seen a decline in dine-in visits as well. Before the pandemic, dine-in visits accounted for 28% of total QSR visits; by September 2021, they accounted for 14% of traffic. On-premises visits to QSRs are 52% lower than pre-pandemic levels, while off-premises visits are 16% higher. Visits to QSRs climbed by 4% overall in the year ending September 2021 but decreased by 4% compared to the previous year.
Report Includes
33 data tables and 24 additional tables
An overview of the global self-service markets, with focus on ATMs, kiosks, and vending machines
Estimation of the market size and analyses of global market trends, with data from 2021, 2022, estimates for 2023 with projections of compound annual growth rates (CAGRs) through 2027
Highlights of the current and future market potential and quantification of self-service markets based on product, end-user, and region
Identification of market drivers, restraints and other forces impacting the global market and evaluation of current market size and forecast
Detailed description of ATMs, kiosks, and vending machines, and their manufacturing technologies
Information on the advancements in digital market technologies, and new product launches of the industry
Detailed analysis of the regulatory framework and policies and technological changes within the industry
Market share analysis of the key companies of the industry and coverage of their proprietary technologies, strategic alliances, and other key market strategies and a relevant patent analysis
Comprehensive company profiles of the leading players of the industry, including Acquire Digital Inc., KioWare, Frank Mayer and Associates Inc., Kiosk Group Inc., Westomatic Vending Services Ltd, and Elatec Inc.
Key Attributes:
Report Attribute
Details
No. of Pages
111
Forecast Period
2022 - 2027
Estimated Market Value (USD) in 2022
$40.3 Billion
Forecasted Market Value (USD) by 2027
$63 Billion
Compound Annual Growth Rate
9.4%
Regions Covered
Global
Key Topics Covered:
Chapter 1 Introduction
Chapter 2 Summary and Highlights
Chapter 3 Market and Technology Background 3.1 Current Market Overview 3.2 Development of Artificial Intelligence-Based Self-Service 3.3 Porter's Five Forces Analysis of the Market for Vending Machines 3.4 Porter's Five Forces Analysis of the Market for Atms 3.5 Porter's Five Forces Analysis of the Market for Kiosk 3.6 Value Chain of Self-Service 3.6.1 Research and Development 3.6.2 Design and Production 3.6.3 Marketing and Sales 3.6.4 Distribution and Logistics 3.6.5 Customer Support 3.6.6 Data Analysis and Management 3.6.7 Maintenance and Upgrades 3.7 Future Outlook of Self-Service 3.7.1 Integration With Artificial Intelligence (Ai) 3.7.2 More Seamless and Contactless Experiences 3.7.3 Expansion into New Industries 3.8 Covid-19 Impact Analysis 3.8.1 Conclusion
Chapter 4 Market Dynamics 4.1 Market Drivers 4.1.1 Increased Business Performance 4.1.2 Growth of Smart City 4.1.3 Increasing Demand for Contactless Payment 4.2 Market Restraints 4.2.1 Increasing Cyberattacks 4.2.2 High Initial Costs 4.3 Market Opportunities 4.3.1 Adoption of Handheld Kiosks
About ResearchAndMarkets.com ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
