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Report: Self-Service To Top $1.7 Trillion By 2012

Written by Evan Schuman
June 19th, 2008
North American self-service transactions will process $607 billion this year, a figure that is projected to soar to $1.7 trillion by 2012, according to a report published Wednesday (June 18) by the IHL Group.

When IHL began work on the report, "I did not expect the acceleration that we're seeing in the out years," said IHL President Greg Buzek. "I did not expect how fast it's growing."

Ironically, Buzek said, the jump in later years is being partially caused by the sales slowdowns of today. As dollars are getting tighter, retailers are pushing more sales through less-labor-costly self-checkout systems and paying for the installation of more such systems. Those additional machines, over the years, will increase the number of dollars being processed by self-service.

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Posted in IT Strategy/Industry, Payment Systems, Premium Content
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