Self-Service Technology Market to Surpass $76.78 Billion Revenue by 2030

According to the latest market research study published by P&S Intelligence, the self-service technology market garnered $33.10 billion in 2021, and it is projected to advance at a rate of 9.8% from 2021 to 2030, to capture $76.78 billion revenue.

The market is largely driven by the rising demand for self-service machines, automated devices, remote administration solutions, and wireless connectivity.

In addition, the rising number of visits to retail stores and increasing purchase of goods and services boost the product demand. Hence, the expansion of the retail sector in emerging economies is projected to provide numerous opportunities to the key companies.

ATMs capture the largest industry share, of over 50%, and their revenue contribution is projected to rise at a substantial rate in the coming years. The growing requirement for cash in spite of the increasing volume of digital transactions proliferates the deployment of ATMs across the world.

Moreover, banks are providing automated teller machines to save operational costs and increase consumer satisfaction. Furthermore, the requirement for liquid money for low-value transactions among customers drives the installation of these machines.

Vending machine sales are predicted to rise at a rapid rate in the near future. The demand for vending machines in business hubs and corporate offices is driven by a rising desire to reduce the expenditure on hiring human tellers, lines of customers, and space requirement for setting up a manned booth. Moreover, the number of commercial buildings offering faster services via vending machines is rising.