According to a recent report by Allied Market Research titled “Self Service Technologies Market by Component, Type, End User, and Region: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global self-service technologies market was valued at $32.23 billion in 2020 and is projected to grow significantly, reaching $88.33 billion by 2030. This growth reflects a compound annual growth rate (CAGR) of 10.55% over the forecast period.

Asia-Pacific is expected to observe highest growth rate during the forecast period. Increase in investments for global self services technologies industry solutions among countries, such as China, Japan, Thailand, India, and Indonesia fuel the growth of the market. In India, the ATM industry is growing at an exponential rate. Since many banks still operate under proprietary networks, the increase in number of banking customers is likely to foster the growth of the ATM market. 

The demand for vending machine has grown tremendously in this region. Japan and China, being the major contributors to this growth, have now reached a point of saturation. In Japan, for every 23rd person, there is self service assistance in the form of vending machines, kiosks, and ATMs. The boom in the retail sector as well as emerging infrastructures in this region is expected to be a key factor to facilitate the growth of the market.

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Market Dynamics

The expansion of the self-service technologies market is driven by several key factors:

  • Rising demand for automation across various sectors.
  • Technological advancements enhancing the capabilities of self-service systems.
  • Increased adoption in developing countries, where the industry is experiencing rapid growth.
  • A growing emphasis on contactless service experiences, which aligns with the ongoing trend of reducing physical interactions.

However, the market also faces certain challenges. Stringent government regulations and a mature market environment in some regions could impede growth during the forecast period. Additionally, the increasing incidence of card skimming poses a concern for secure transactions, potentially affecting user trust.

Segment Analysis

By Type:

The ATM (Automated Teller Machine) segment held the largest share of the global market in 2020 and is expected to retain its dominant position throughout the forecast period. In recent years, ATMs have evolved into multifunctional systems that go beyond basic cash withdrawals. Modern ATMs now offer a range of services such as cash deposits, utility bill payments, and access to account statements. These additional capabilities have proven advantageous for banks and financial institutions by increasing customer convenience, reducing operational time, and improving revenue margins. Consequently, key players in the ATM sector are prioritizing geographic expansion as a strategic approach.

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COVID-19 Impact:

Following the outbreak of the COVID-19 pandemic, the market’s value in 2020 stood at $32.23 billion, and its projected value of $88.33 billion by 2030 exceeds previous pre-pandemic estimates. The pandemic significantly influenced self-service deployment, especially in healthcare, manufacturing, and non-retail sectors, by reshaping consumer behavior and business operations.

As businesses faced disruptions and lockdowns, limiting their physical operations, many accelerated their adoption of self-service technologies. This shift was driven by the necessity for social distancing and zero-touch environments, particularly in essential services such as grocery stores, medical supply chains, and home improvement outlets. The pandemic also led to reduced workforce availability, compelling organizations to integrate self-checkout systems to maintain operational efficiency and reduce human dependency.

Key Insights from the Study

  • By Component:
    The hardware segment accounted for the largest market share in 2020. However, the services segment is anticipated to register significant growth in the coming years.
  • By Type:
    The ATM segment generated the highest revenue in 2020. Yet, the kiosks segment is expected to experience robust growth during the forecast period, driven by its versatility and increasing deployment across industries.
  • By End User:
    The Banking, Financial Services, and Insurance (BFSI) sector led the market in 2020. In contrast, the healthcare sector is projected to expand substantially, reflecting the increasing demand for contactless and efficient patient engagement solutions.
  • By Region:
    North America held the largest market share in 2020, driven by high technology adoption and a mature infrastructure. Nonetheless, Asia-Pacific is poised for significant growth in the years ahead, supported by rapid urbanization, digital transformation, and a large consumer base.

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Key Market Players

The report also profiles leading companies that are shaping the self-service technologies landscape. These include:

  • Kiosk Information Systems Inc.
  • NCR Corporation
  • HESS Cash System GmbH & Co.
  • Fujitsu
  • Glory Ltd.
  • Azkoyen Group
  • Crane Co.
  • Maas International Europe B.V.
  • Vent-Rite
  • IBM Corporation

The study provides a comprehensive analysis of current market trends, technological advancements, and future projections, helping identify high-potential investment opportunities in the self-service technologies market.

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.

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