September 23, 2003

Self-Service Kiosk Transactions to Surpass $900 Billion Annually by 2007, Says IHL

FRANKLIN, Tenn. (September 23, 2003) - The annual dollar value of transactions through self-service kiosk technologies will approach $1 trillion annually in North America by 2007, according to a new study from IHL Consulting Group.

"Self-Service technologies are pervading all aspects of our lives in North America today," said Greg Buzek, president of IHL. "Self-Checkout systems at the supermarket, ticketing kiosks for transportation and entertainment and new self-service technologies being introduced into Fast Food/Quick Service are rapidly growing in acceptance. The growth rate is dramatically accelerating in the retail, transportation and government sectors as a way to lower transaction costs."

According to the study we are on track for over $155 billion in transactions to be conducted at self-service kiosks that accept payment in North America in 2003.

"When you consider that we excluded Pay-at-the-Pump and Internet transactions in the study, the dollar volume of the transaction growth we are seeing is simply staggering," added Buzek. "While we saw a major shift to value-conscious consumers in last five years, the next 5 years will see a similar shift towards self-service."

Posted by Craig at September 23, 2003 03:13 PM