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Self-checkout market to hit $4B by 2024

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October 10, 2019

The self-checkout system market is predicted to jump from this year's value of $2 billion to over $4 billion by 2024, according to a Global Market Insights, Inc. study.

Factors driving growth, according to a press release, include demand for touch-free transactions as well as a shortage of labor and increasing labor costs.

"Rapid growth in the retail sector and increasing consumer demand for improved retail experience are boosting the self-checkout kiosks market. These systems ensure that customers enjoy shopping in retail stores by reducing the hassle of standing in long lines thereby saving consumer's time and enhancing the throughput. Rising need of enterprises to lower their operational costs and increase the checkout speed has led to a high demand for these systems in the retail sector," stated the release.

Mobile payment is an emerging checkout trend that is gaining momentum and popularity as well, noted the release.