A recent report published by Infinium Global Research on POS terminals market provides in-depth analysis of segments and sub-segments in the global as well as regional POS terminals market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional POS terminals market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global POS terminals market. According to the report, the global POS terminals market is projected to grow at a CAGR of 10.95% over the forecast period of 2018-2024.
The point of sale (POS) terminal is an electronic device for processing card payments at retail locations. POS technology makes managing payments safer, easier, and smarter. A point of sale terminal is a replacement to the traditional cash register system. POS terminals comprised of two types such as mobile point of sale terminals, and fixed point of sale terminal. The mobile point of sale terminal is more convenient than the fixed point of sale terminal. Mobile point of sale enables payment by mobile and manages some inventory and customer information. Points on sale terminal include applications in different sectors such as retail, healthcare, restaurant, entertainment, and hospitality.
Increasing demand for a point of sale (POS) terminal in the retail industry drives the growth of point of sale (POS) terminal market. The retail industry is one of the major users of POS terminals owing to it handles inventory control, sales to the consumer, purchasing, receiving and transferring of products to and from other location records. Furthermore, growing demand for the self-service checkout terminals such as mobile point of sale terminals propels the growth of point of sale (POS) terminal market. Rising investment in advance, technologies for providing safe and secured transactions or payments and tracking of sales fuel the growth of point of sale (POS) terminal market. Growing awareness among consumers related to the benefits offered by POS terminals boosts the demand for a point of sale (POS) terminal market. However, increasing security concerns regarding data hamper the growth of point of sale (POS) market. Contactless payment by using NFC technology provides beneficial opportunities for a point of sale (POS) terminal market. Furthermore, the focus on advancements and innovations in technologies are expected to provide opportunities for a point of sale (POS) terminal market.
North America dominates the point of sale (POS) terminal market owing to rapid urbanization and retail data systems are the largest provider of a point of sale (POS) terminal in the region. Adoption of a point of sale (POS) terminal in healthcare industry owing to the huge presence of hospitals in the region boosts the growth of point of sale (POS) terminal market. Furthermore, the huge presence of technology providers in the region fuels the growth of point of sale (POS) terminal market. The Asia Pacific is expected to grow at a fast pace in the forecast period.
The report on global POS terminals market covers segments such as components, type, application, and deployment. On the basis of components, the sub-markets include software and hardware. On the basis of type, the sub-markets include mobile point-of-sale terminals and fixed point-of-sale terminals. On the basis of application, the sub-markets include retail, restaurant, hospitality, healthcare, entertainment, and others. On the basis of deployment, the sub-markets include cloud and on-premise.
The report provides profiles of the companies in the market such as Dell Inc., Panasonic Corporation, Ingenico SA, MICROS Systems Inc., VeriFone System Inc., Cisco Systems Inc., PAX Technology Inc. NEC Corporation, Hewlett Packard Enterprise, and Samsung Electronics Inc.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of POS terminals market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.