Sarasota, FL, Aug. 05, 2016 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Self Service Technology Market for ATM, Kiosk Machine and Vending Machine: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 - 2021.” According to the report, the global self service technology market accounted for USD 15.70 Billion in 2015 and is expected to reach USD 37.75 Billion by 2021, growing at a CAGR of around 15.8% between 2016 and 2021.
Enhanced security in financial transaction and increasing awareness for active safety systems is expected to prompt the growth of self service technology market. Acceptance of latest technologies by self service technology provider to assure privacy of personal information is likely to drive the global self service technology market. Biometric security services including physiological versus behavioral characteristics such as retina, fingerprint, palm veins, face recognition, voice and typing rhythm has helped consumers to do their financial transaction securely. Rising adoption of self-service machines by consumer goods and service sector industries is expected to propel the growth of self service technologies market. The emerging trend of automation & advancement in technology in self service technology represent novel market avenues in the near future.
Browse 23 Market Tables and 31 Figures spread through 110 Pages and an in-depth TOC on "Self Service Technology Market - Global Size, Shares, Trends, Segment & Forecast to 2021”
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Advances in technologies have allowed service providers to incorporate different technologies into the delivery of their services. Increasing awareness for active safety systems and enhanced security in financial transaction are expected to contribute impulse growth to the self service technology market. ATM segment dominated the self service technology market with over 70% share of total revenue in 2015. Emergence of biometric security service technology is expected to flourish the demand of this segment in the years to come. Kiosks segment is expected to exhibit impulse growth in the forecast period due to emergence of digital kiosks which are more user-friendly. Increasing demand for cashless payment systems is expected to prompt the demand for vending machine segments.
North America was the largest regional market for self service technology in due to the high technology adoption rate followed by Europe and APAC. Emergence of new business models is predicted to exhibit stable growth in North American self service technology market.
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Europe was the second largest regional market in terms of revenue in 2015. Increasing demand for biometric security services including fingerprint recognition, and rising awareness in Europe toward secure and safety transaction is expected to fuel growth of European market.
Asia Pacific is expected to be the fastest growing regional segment for the self service technology market within the forecast period. Rapidly rising banking sectors in India, China and Japan coupled with adoption by consumer goods and retail industry is expected to propel the growth of self service technology market in Asia Pacific.
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Some of the key players involved in the global self service technology market are Crane Merchandising Systems, NCR Corporation, Kiosk Information Systems, Inc, Azkoyen S.A, Glory Ltd and Fuji Electric Retail Systems amongst other.
This report segments of the global self service technology market as follows:
Global Self Service Technology Market: Type Segment Analysis
- Smart ATM
- Cash Dispenser
- Brown Label ATM
- White Label ATM
- Conventional ATM
- DVD Kiosk
- Ticketing Kiosk
- Banking and Financial Kiosk
- HR and Employment Kiosk
- Photo Kiosk
- Information Providing Kiosk
- Vending Machine
Global Self Service Technology Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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