The Retail Self Scanning Solutions Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Retail Self Scanning Solutions Global Market Report 2024, The retail self-scanning solutions market size is expected to see rapid growth in the next few years. It will grow to $9.90 billion in 2028 at a compound annual growth rate (CAGR) of 16.6%. The growth in the forecast period can be attributed to increasing adoption of digital transformation, rising demand for contactless shopping, increasing focus on customer convenience, and rising popularity of self-service kiosks. Major trends in the forecast period include adoption of mobile self-scanning apps, advancements in RFID technology, advancements in barcode scanning technology, development of user friendly interfaces, and integration with digital payment platforms.
The expansion of e-commerce is expected to propel the growth of the retail self-scanning solutions market going forward. E-commerce, short for electronic commerce, refers to the buying and selling goods or services over the internet or through electronic channels. It encompasses various transactions, including online retail stores, business-to-business (B2B) sales, online auctions, and digital marketplaces. The expansion of e-commerce is attributed to increased internet access, shopping convenience, technological advancements, and a wider product selection. Retail self-scanning solutions enhance e-commerce by integrating in-store and online shopping experiences, improving inventory management, collecting customer data, streamlining click-and-collect services, and increasing customer engagement and satisfaction. For instance, in May 2024, according to the United States Census Bureau, a US-based government agency, the U.S. retail e-commerce sales for the first quarter of 2024 reached $289.2 billion, a 2.1% increase (±0.7%) from the fourth quarter of 2023. Therefore, the expansion of e-commerce is driving the growth of the retail self-scanning solutions market.
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The retail self scanning solutions market covered in this report is segmented –
1) By Type: Hardware, Software, Other Types
2) By Transaction: Cash Based, Cashless
3) By Application: Convenience Stores, Department Stores, Supermarkets, Hypermarkets, Specialty Retailers, Other Applications
Major companies operating in the retail self-scanning solutions market are focused on developing advanced solutions, such as automated checkout systems, to simplify shopping, minimize checkout durations, and optimize operations for both retailers and customers. Automated checkout systems are self-service technology that allows customers to scan and pay for items themselves, reducing the need for cashier interaction and enhancing overall shopping efficiency. For instance, in December 2023, Enactor, a UK-based retail software company, launched Enactor Self-Checkout, a modern, flexible self-checkout solution that enhances the retail experience for both customers and retailers. It accelerates checkout processes with advanced RFID scanning technology for rapid product identification. This hyper-flexible platform offers seamless customer engagement across various sectors, enabling faster transactions, improved scanning accuracy, real-time inventory management, enhanced security, and valuable analytics.
The retail self scanning solutions market report table of contents includes:
1. Executive Summary
2. Retail Self Scanning Solutions Market Report Structure
3. Retail Self Scanning Solutions Market Trends And Strategies
4. Retail Self Scanning Solutions Market – Macro Economic Scenario
5. Retail Self Scanning Solutions Market Size And Growth
…..
27. Retail Self Scanning Solutions Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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