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Report: Global self-service tech market to exceed $31B by 2020

The ease of installation and small footprint required for ATMs will help drive growth in this segment during the forecast period, Allied Market Research says.

July 8, 2015

The global self-service technology market will achieve a combined annual growth rate of 13.98 percent from 2015 through 2020, registering a total of $31.75 billion in sales by the end of the forecast period, according to a new report by Allied Market Research.

Enterprises operating in sectors such as retail, banking, food and beverage, healthcare and retail will drive demand, says the report, voluminously titled "Global Self-Service Technology Market (ATM Machines, Kiosk Machines, Vending Machines and Geography) — Size, Share, Industry Analysis Trends, Opportunities Growth Segmentation and Forecast, 2014–2020."

Technological advancements such as wireless communication and remote management also will facilitate overall market growth, along with the integration of biometric features that ensure secure financial transactions, the report claims.

The kiosks segment will exhibit the highest growth during the forecast period, with Asia-Pacific, Latin America, the Middle East and Asia named as top markets. The easy installation process and limited space required for deploying ATMs will supplement the growth of this segment during the forecast period, the report says.