The global retail self-checkout terminals market to grow at a CAGR of 18.63% during the period 2018-2022.
Global Retail Self-checkout Terminals Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in the market is evolution of NFC technology. The development of technologies such as NFC will change the way in which customers operate self-checkout terminals in the near future. NFC is wireless communication technology that enables the users to exchange data between two devices by bringing the two devices very close, not more than an inch.
By using such technology, customers can make transactions without touching the self-checkout system in the store. This facilitates easier and faster checkouts. In addition, the use of NFC technology will minimize the damage of self-checkout terminals. It is estimated that by the end of 2019, NFC-enabled smartphones will account for 68% of the total smartphones used, globally.
According to the report, one driver in the market is growth in retail industry. The increase in the number of retail outlets across the globe is also driving the market for self-checkout terminals. The number of retail outlets being opened around the world is increasing. Major retailers, such as Carrefour, Metro, Tesco: and Wal-Mart are expanding their presence in Africa and APAC to gain more market presence and shares.
For example, Carrefour has formed a joint venture with CFAO to expand its operations in eight countries: including Congo, Cameroon: the Democratic Republic of the Congo, Ivory Coast, Ghana: Gabon, Nigeria, and Senegal in West and Central Africa. In September 2017, 7-Eleven, an international chain of convenience stores, announced the expansion of its stores in the US. It is planning to surpass 20,000 stores by the end of 2017.
Evolution of NFC technology
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