Study: Retail Self-Checkout Market to Surpass $1 Billion by 2003
MIAMI - With 2001 unit shipments up 162 percent, the retail self-checkout market is poised to surpass $1 billion in annual revenue (shipments and installed hardware/software maintenance) by 2003, according to a new study from IHL Consulting Group.
"Self-checkout reached critical mass in 2001 with Kroger and Kmart installing several thousand units each," said Greg Buzek, president of IHL Consulting Group. "Twenty-five percent of grocery retailers now have self-checkout installed."
According to the study, unit shipments in North America increased 142 percent in 2001 with NCR Corporation, Optimal Robotics Corporation, and Productivity Solutions Inc. leading the way.
"In 2001, two very large customers represented the majority of shipments to the market," added Buzek. "We believe that 2002 will provide a much broader customer base and more sustained increases in shipments across multiple retailers. Self-checkout has hit the mainstream -- consumers are accepting it, and grocery retailers are demonstrating that as high as 25 percent of their transaction volume is now going through their self-checkout systems."
"Self-checkout reached critical mass in 2001 with Kroger and Kmart installing several thousand units each," said Greg Buzek, president of IHL Consulting Group. "Twenty-five percent of grocery retailers now have self-checkout installed."
According to the study, unit shipments in North America increased 142 percent in 2001 with NCR Corporation, Optimal Robotics Corporation, and Productivity Solutions Inc. leading the way.
"In 2001, two very large customers represented the majority of shipments to the market," added Buzek. "We believe that 2002 will provide a much broader customer base and more sustained increases in shipments across multiple retailers. Self-checkout has hit the mainstream -- consumers are accepting it, and grocery retailers are demonstrating that as high as 25 percent of their transaction volume is now going through their self-checkout systems."