Self-Service Technology Market Size and Share, Trends and Growth to 2022: Hexa Reports

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Self-Service Technology Market Share, Size, Trends and
Growth, By Product Analysis, Application and Segment
Forecasts To 2022

The self-service technology market is expected to reach USD 39.07 billion by 2022, according to a new
study by Grand View Research, Inc. Growing focus by enterprises for offering convenient services to the
customers along with customizing cost of these services is estimated to drive demand. Deployment of
several types of technologically advanced kiosks and vending machines has revolutionized the industry
with an improved automation experience.
Various enterprises operating in sectors including food & beverages, retail, healthcare and banking are
estimated to be the key demand facilitators. The industry is driven by smart features including NFC
advancements, remote monitoring and cashles transactions.
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Increasing awareness for active safety systems, changing lifestyle and enhanced security in financial
transactions are projected to propel demand. Biometrics for self-service products has helped consumers
to experience secure and safe transactions. However, stringent government safety regulations
governing the use of vending machines can act as a restraint for industry growth.

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Further key findings from the study suggest:
ATM market accounted for over 80% of the overall demand in 2014 and is estimated to lose share
through the forecast period. They have emerged as a multifunctional machines in recent years offering
customers with services such as cash deposit, bill payments, and account statements, which was only
limited to cash dispense in past. This additional service has benefited the banks and financial institutions
to improve their revenue margin, saving their operating...