News

Global self-service technology market to grow 15.8 percent per year through 2021

November 28, 2016

The global self-service technology market was worth $15.7 billion in 2015, and will reach $37.75 billion by 2021, according to  research from Zion Research. The company's latest report, "Self Service Technology Market for ATM, Kiosk Machine and Vending Machine: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015-2021," found that the compounded annual growth rate will be 15.8 percent from 2016 to 2021.

Increasing awareness for active safety systems and enhanced security in financial transactions is expected to contribute impulse growth to the self-service technology market. Biometric security services including fingerprint recognition have helped consumers with secure financial transactions, according to the report.

Zion expects that the rising adoption of self-service machines by consumer goods and service sector industries will propel the growth of the self-service technologies market.

The report also found the hacking of personal data and other security threats could affect the growth of the self-service technology market.