The world has increasingly been fascinated by technology-facilitated transactions. Self-service technology is the interface that allows customers to avail the services without manual intervention.
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Nowadays, companies have adopted self-service technologies to provide better consumer experience as well as reducing the operational costs. The self-service technology is broadly divided into three categories such as vending machines, ATMs and self-service kiosks.
Customers prefer using these technologies due to instant service offerings and hassle-free transactions. Moreover, the use of self-service technology machines helps companies to strengthen their pricing power by improving the operating margins.
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These factors coupled with reducing human tasks and minimizing human errors for achieving a more cost-effective solution fuel the growth of the market. In addition, the increasing demand from service and consumer goods sectors will further drive the growth of the market.
However, saturation for the self-service technology in China and Japan is likely to restrict the market growth in the Asia-Pacific region. Furthermore, government regulations in some regions for health and safety and tracking of users limit the growth of the market.
The ongoing technological advancements in machines like smart ATMs, wireless communication and remote management of related machines would facilitate the expansion of the market.
The self-service technology segment comprises vending machines, ATM machines and self-service kiosks. ATMs are further segmented into conventional ATMs, brown label ATMs, white label ATMs, cash dispensers and smart ATMs.
Vending machines are sub-categorized into snacks-vending machine, beverage-vending machine, candy and gumball vending machine, cigarette-vending machine and specialized-vending machines. Self-service kiosks are subdivided into information-providing kiosks, ticketing kiosks, photo kiosks, HR and employment kiosks, banking and financial kiosks, DVD kiosks, patient self-service kiosks and other kiosks.
The Asia-Pacific self-service technology market is further segmented on the basis of countries that include China, India, Japan, South Korea and Rest of Asia-Pacific.
The key players of the self-service technology market are NCR Corporation, Wincor Nixdorf AG, DIEBOLD, INC., Azkoyen S.A., Crane Merchandising Systems, Fuji Electric Retail Systems Co. Ltd., and Kiosk Information Systems, Inc.
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