Get ready for a booming global self-service tech market worth $107.9B by 2032

January 30, 2024
1 min read

The global self-service technology market, valued at $35.2 billion in 2022, is projected to reach $107.9 billion by 2032, growing at a compound annual growth rate (CAGR) of 11.8%. Key factors driving market growth include the development of automated and self-serve equipment, wireless connectivity, remote administration, and technological advancements in the global self-service industry.

Self-service technology offers speed, convenience, and 100% accuracy, reducing the overall cost of processes for businesses. SSTs have gained prominence due to their ability to streamline check-in and check-out procedures, decrease traffic, and enhance customer experiences in various industries such as retail, healthcare, and banking.

However, security remains a concern for self-service technologies, with industries such as banking and healthcare needing robust protection against data theft and hacking. Additionally, businesses must invest in adequate training for user-friendly interfaces to ensure customer adoption of self-service technology.

The market is divided into segments based on solution, type, and end-user. The deployment segment is projected to grow at the fastest rate in the global market, while ATMs are expected to see the highest growth within the self-service technology market. The retail sector is anticipated to hold the largest share of the market throughout the forecast period.

Regionally, Asia-Pacific is expected to hold the largest share of the global self-service technology market due to market-driven factors in expanding

Latest from Blog

McDonald’s hit by worldwide tech glitch.

McDonald’s Tech Outage Summary TLDR: McDonald’s experienced a global tech outage leading to restaurant closures The outage was due to a “system failure” and not cybersecurity issues Fast food giant McDonald’s faced