The rising number of digital transactions in most of the countries in the Americas is one of the biggest factors responsible for the surge in the usage for self-checkout systems in the region. Most of the countries in the region are rapidly shifting toward cashless transactions and economy. For instance, 90% of the population in Canada owned credit cards in 2018. Moreover, the country observed a growth of 7% and 9% in the usage of debit cards and in the total value of the transactions made through debit cards, respectively, from 2016 to 2017.
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The other major factor propelling the demand for self-checkout systems in North and South America is the rising shortage of labor in the region. Since the last few years, there has been a massive rise in labor shortage in most of the countries in the region. For instance, the companies in the U.S. are increasingly finding it difficult to find skilled employees, with almost 6.3 million jobs remaining unfilled in the country in January 2018. Moreover, the companies recorded a rise of around 16% in unfilled jobs from 2017 to 2018.
Due to the above-mentioned factors, the revenue generated from the sales of self-checkout systems in the Americas is expected to increase from $3.9 billion in 2018 to $7.1 billion by 2024. The Americas self-checkout systems market is predicted to advance at a CAGR of 10.9% during the forecast period (2019–2024). Many companies in the Americas are rapidly adopting the self-checkout systems hardware, software, and services. Out of these, the self-checkout systems hardware observed the highest adoption in the region in 2018, as they transactions cannot proceed without enabling terminals, card readers, and machines.
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The biggest trend presently being witnessed in the Americas self-checkout systems market is the adoption of mobile scan and go systems across the region. These systems enable the users to use their smartphones for scanning the items that they want to buy from the shop at the service point-of-sale (POS) terminal. The mobile scan and go systems allow the customers to digitally make payments without being in direct contact with any machine, thereby reducing the overall buying time.
