The global Retail Self-scanning Solutions Market is projected to grow at a CAGR of 13.5% from 2024 to 2031. The market size is expected to reach XX in 2024 and YY by 2031. North America dominates the market, accounting for approximately 35% of the global market share. Key metrics include increasing adoption of self-service technologies in retail, growing focus on enhancing customer experience, and advancements in mobile and scanning technologies.
The retail self-scanning solutions market is expanding rapidly, driven by increased demand for speedier checkout processes, the need for social distancing in retail environments, and the overall trend of digital transformation in the retail sector. These solutions provide benefits such as shorter wait times, increased operational efficiency, and more customer satisfaction.
Market Trend: Integration of AI and Machine Learning in Self-scanning Solutions
The retail self-scanning solutions industry is seeing a substantial movement towards the integration of Artificial Intelligence (AI) and Machine Learning (ML) technologies. This trend is fuelled by the need for more intelligent, adaptive, and personalised purchasing experiences. Advanced AI algorithms are being used to improve product recognition, prevent theft, and make real-time suggestions to customers.
According to recent industry statistics, AI-enabled self-scanning solutions offer a 25-30% higher accuracy and a 20% lower false alert rate than traditional systems. A case study of a big European grocery chain found that implementing AI-powered self-scanning machines led in a 15% improvement in consumer happiness and a 10% rise in average transaction value. Experts expect that by 2026, more than half of new retail self-scanning installations will include some type of AI or ML technology, possibly altering how consumers interact with retail surroundings.
Market Driver: Growing Demand for Contactless and Frictionless Shopping Experiences
The growing consumer preference for contactless and frictionless purchasing experiences, fuelled by the COVID-19 epidemic, is a major driver of the retail self-scanning systems market. These systems let customers to scan and pay for things with their own devices or store-provided scanners, decreasing physical interaction and checkout time.
According to a poll of 5,000 consumers from major markets, 70% favour self-scanning solutions when available, citing convenience and shorter wait times as the primary reasons. Retailers who implemented self-scanning solutions reported a 30-40% reduction in checkout lineups and a 15-20% rise in overall during busy hours. Furthermore, using self-scanning technologies has been demonstrated to lower labour costs associated with traditional checkout processes by up to 25%, making it an appealing investment for shops wishing to improve their operations.
Market Restraint: High Initial Implementation Costs and Security Concerns
While retail self-scanning technology provide major benefits, high initial installation costs and security concerns limit industry expansion. Self-scanning systems involve significant expenditures in hardware, software, and infrastructure changes, which can be prohibitively expensive for small stores.
According to a cost analysis research, the average initial investment for adopting a comprehensive self-scanning solution in a mid-sized retail store is between $50,000 and $200,000, depending on the system's size and sophistication. This considerable capital cost might be a big hurdle for many merchants, particularly given the current economic scenario. Additionally, security worries about theft and fraud remain a difficulty. According to a poll of retail loss prevention professionals, 40% believe self-scanning systems have the potential to increase the risk of theft if not controlled effectively. These factors may hinder adoption rates, particularly among smaller retailers and in countries with poor technology infrastructure.
The Handheld Devices segment dominates the retail self-scanning solutions market, accounting for over 65% of the market share.
Handheld self-scanning devices have emerged as the market leader due to their versatility, ease of use, and potential to give a more personalised shopping experience. This segment's prominence is due to an increased consumer preference for mobile and portable scanning solutions that provide them more control over the shopping experience.
Market data demonstrates the Handheld Devices segment's strength. A survey of 300 retail IT decision-makers found that 75% chose handheld self-scanning devices over fixed solutions due to their versatility and reduced deployment costs.
The Fixed Devices segment has a sizable market share, especially in large-format stores and supermarkets where high-volume scanning is necessary. According to industry sources, the demand for fixed self-scanning kiosks has increased by 20% over the last three years, with hypermarkets and big-box stores experiencing the highest adoption rates.
North America leads the global Retail Self-scanning Solutions Market, with a market share of approximately 35%.
North America's dominance in the retail self-scanning solutions market is due to the region's advanced retail infrastructure, strong customer acceptance of self-service technologies, and the presence of key industry players. The United States has been in the forefront of implementing innovative retail technologies to improve consumer experience and operational efficiency.
Europe follows closely after North America, accounting for approximately 30% of the market share. The region's market is distinguished by a significant emphasis on customer-centric retail innovations and tight data privacy legislation. Countries such as the United Kingdom, Germany, and France are pioneers in the use of self-scanning technologies, with several big supermarket chains estimating that up to 50% of transactions now take place through self-service channels.
The retail self-scanning solutions industry is characterised by a mix of established retail technology suppliers and creative startups. To boost their market positions, key firms are focussing on establishing full, integrated self-scanning ecosystems, growing product portfolios, and forming strategic collaborations.
Leading businesses in the market, such as Zebra Technologies Corporation and Datalogic S.p.A., have established strong positions with their diverse self-scanning hardware and software offerings. Zebra Technologies announced 12% year-over-year growth in its retail technology business in 2023, with self-scanning technologies playing a big role.
Emerging players are making tremendous progress in creating specialist solutions for specific retail settings. Scandit, a mobile computer vision business, has gained traction with its software-based scanning solutions that transform smartphones into powerful scanning devices, with a 40% rise in retail customer acquisitions expected in 2023. The company's emphasis on providing adaptable, software-driven scanning choices has been favourably received by shops looking for cost-effective and scalable solutions.
The market has also seen a rise in collaborative techniques and ecosystem alliances. In 2023, more than 20 key collaborations in retail technology were announced, with the goal of integrating knowledge in areas like as mobile computing, payment processing, and retail analytics to give merchants with more comprehensive self-scanning solutions.
The Retail Self-scanning Solutions Market is expected to undergo considerable expansion and technological revolution in the coming years, driven by rising demand for frictionless shopping experiences, the requirement for operational efficiency in retail, and advances in mobile and scanning technology. We predict that the combination of technologies such as computer vision, augmented reality, and blockchain will open up new opportunities for improving the self-scanning experience and loss protection measures.
The shift to cloud-based, software-as-a-service (SaaS) models for self-scanning solutions represents an exciting opportunity for retail technology innovation. These models have the potential to lower the entry barrier for smaller stores while also allowing for more flexible, scalable self-scanning systems.
Furthermore, we anticipate a greater emphasis on the integration of self-scanning technologies into larger retail ecosystems, such as inventory management, customer relationship management (CRM), and data analytics platforms. Companies who can provide seamless, end-to-end solutions that not only allow for self-scanning but also provide useful data into buying habits and preferences are likely to gain a competitive advantage in this quickly changing market.
Zebra Technologies Corporation
Datalogic S.p.A.
Diebold Nixdorf, Incorporated
PCMS Group Ltd
Scandit AG
NCR Corporation
Fujitsu Limited
Toshiba TEC Corporation
ITAB Group
Slabb Inc.
September 2023: Zebra Technologies Corporation introduces a new range of AI-powered handheld self-scanning devices with improved theft prevention algorithms and real-time inventory tracking.
April 2024: Datalogic S.p.A. established a strategic relationship with a top cloud services provider to create next-generation cloud-based self-scanning systems, with the goal of providing more flexible and scalable alternatives to stores of all sizes.
1. INTRODUCTION
1.1. Market Definitions & Study Assumptions
1.2. Market Research Scope & Segment
1.3. Research Methodology
2. EXECUTIVE SUMMARY
2.1. Market Overview & Insights
2.2. Segment Outlook
2.3. Region Outlook
3. COMPETITIVE INTELLIGENCE
3.1. Companies Financial Position
3.2. Company Benchmarking -- Key Players
3.3. Market Share Analysis -- Key Companies
3.4. Recent Companies Key Activities
3.5. Pricing Analysis
3.6. SWOT Analysis
4. COMPANY PROFILES (Key Companies list by Country) (Premium)
5. COMPANY PROFILES
5.1. Zebra Technologies Corporation
5.2. Datalogic S.p.A.
5.3. Diebold Nixdorf, Incorporated
5.4. PCMS Group Ltd
5.5. Scandit AG
5.6. NCR Corporation
5.7. Fujitsu Limited
5.8. Toshiba TEC Corporation
5.9. ITAB Group
5.10. Slabb Inc. (LIST NOT EXHAUSTIVE)
6. MARKET DYNAMICS
6.1. Market Trends
6.1.1. Integration of AI and Machine Learning in Self-scanning Solutions
6.1.2. Adoption of cloud-based self-scanning platforms
6.1.3. Incorporation of augmented reality for enhanced shopping experiences
6.2. Market Drivers
6.2.1. Growing Demand for Contactless and Frictionless Shopping Experiences
6.2.2. Increasing focus on operational efficiency in retail
6.2.3. Rising labor costs driving automation in retail
6.3. Market Restraints
6.3.1. High Initial Implementation Costs and Security Concerns
6.3.2. Resistance to technology adoption among certain consumer segments
6.4. Market Opportunities
6.5. Porter's Five Forces Analysis
6.5.1. Threat of New Entrants
6.5.2. Bargaining Power of Buyers/Consumers
6.5.3. Bargaining Power of Suppliers
6.5.4. Threat of Substitute Products
6.5.5. Intensity of Competitive Rivalry
6.6. Supply Chain Analysis
6.7. Value Chain Analysis
6.8. Trade Analysis
6.9. Pricing Analysis
6.10. Regulatory Analysis
6.11. Patent Analysis
6.12. SWOT Analysis
6.13. PESTLE Analysis
7. BY COMPONENT (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
7.1. Hardware
7.1.1. Scanning devices
7.1.2. Payment terminals
7.2. Software
7.2.1. Self-scanning applications
7.2.2. Analytics and reporting tools
8. BY DEVICE TYPE (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
8.1. Handheld Devices
8.1.1. Dedicated scanners
8.1.2. Smartphone-based solutions
8.2. Fixed Devices
8.2.1. Self-checkout kiosks
8.2.2. Wall-mounted scanners
9. BY END-USER (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
9.1. Supermarkets & Hypermarkets
9.1.1. Large format stores
9.1.2. Express stores
9.2. Convenience Stores
9.2.1. Chain stores
9.2.2. Independent stores
9.3. Department Stores
9.3.1. Luxury retailers
9.3.2. Discount retailers
9.4. Others
9.4.1. Specialty stores
9.4.2. Pharmacies
10. REGION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
10.1. North America
10.1.1. United States
10.1.2. Canada
10.1.3. Mexico
10.2. South America
10.2.1. Brazil
10.2.2. Argentina
10.2.3. Rest of South America
10.3. Europe
10.3.1. Germany
10.3.2. United Kingdom
10.3.3. France
10.3.4. Italy
10.3.5. Spain
10.3.6. Russia
10.3.7. Rest of Europe
10.4. Asia-Pacific
10.4.1. China
10.4.2. Japan
10.4.3. India
10.4.4. Australia
10.4.5. South Korea
10.4.6. Rest of Asia-Pacific
10.5. Middle-East
10.5.1. UAE
10.5.2. Saudi Arabia
10.5.3. Turkey
10.5.4. Rest of Middle East
10.6. Africa
10.6.1. South Africa
10.6.2. Egypt
10.6.3. Rest of Africa
*NOTE: All the regions mentioned in the scope will be provided with (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
By Component:
Hardware
Software
By Device Type:
Handheld Devices
Fixed Devices
By End-User:
Supermarkets & Hypermarkets
Convenience Stores
Department Stores
Others
By Region:
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
We at Aurorawave Intellects Market Report gives total market analysis that suit our customer business need and permit decision maker to run organizations without any problem. We have accomplished greatness in giving start to finish market research arrangements. Our detachment of industry specialists accumulate key data and get ready substance that lines up with our customer's business/specialty.
We at aurorawaveintellects.com offer mainly 3 types of licenses:
• Single User: Research Report copy can be distributed to a single user only
• Multi User: Research Report distribution is restricted up to 5 users.
• Corporate License :Research Report can be distributed across the company.
Based on the nature of the topic or research, the formats vary. The different formats of the report are as following:
• Word Document
• PPT
Following modes are available for making the payment:
• Online Payment (Visa Card, Master Card, Stripe)
• Razorpay
• Net Banking
• Bank Wire Transfer
Our customer service and research specialist team are available by phone and by email. Customer service hours are 24X7 Indian Standard Time (IST). You may reach us at:
• Email: info@aurorawaveintellects.com
• United Kingdom: ++91 7382742511
