A recent report published by
Infinium Global Research on POS terminal market provides an in-depth analysis of
segments and sub-segments in the global as well as regional POS terminal
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional POS terminal market over the short term
as well as long term. The report is a comprehensive presentation of trends,
forecast, and dollar values of the global POS terminal market. According to the
report, the global POS terminal market is projected to grow at a CAGR of 10.95%
over the forecast period of 2020-2026.
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 for the traditional cash register system. POS
terminals comprised of two types such as mobile point of sale terminals, and
fixed point of sale terminals. 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 the 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, the growing demand for self-service checkout terminals such as
mobile point of sale terminals propels the growth of the 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
the 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 the 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 the healthcare industry
owing to the huge presence of hospitals in the region boosts the growth of the
point of sale (POS) terminal market. Furthermore, the huge presence of
technology providers in the region fuels the growth of the point of sale (POS)
terminal market. The Asia Pacific is expected to grow at a fast pace in the
forecast period.
The report on the global POS terminal
market covers segments such as component, type, application, and deployment. On
the basis of component, the sub-markets include software &services, 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 the POS terminal market. Moreover, the study highlights current market
trends and provides forecasts from 2020-2026. 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.