(Point of Sale) POS Terminals Market size is set to exceed USD 125 billion by 2024; according to a research report. The global shipments are set to witness a double-digit growth rate in the coming years.
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MaketStudyReport.com adds a New POS Terminals Market Research Report for the period of 2017-2024 that shows the market is growing at steady CAGR to 2024.
The POS terminals market is anticipated to witness considerable growth over the forecast timespan owing to the rising demand across several applications such as entertainment, healthcare, hospitality, retail, and warehouse. Increasing advancements in technologies and the growing demands for contactless payments, coupled with the adoption of NFC devices in the industry are anticipated to boost the global POS terminals market demand.
The rising penetration of the Internet and payment solutions, such as online payments, stationary phone and mobile payments, has given an impetus to the POS terminals market.
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In addition, increased adoption of debit and credit cards has generated a high demand for these devices. With the advancements in payment technologies, the industry is migrating towards EMV chip card payments which is anticipated to further fuel the POS terminals market momentum in the next seven years.
A key challenge for the industry participants is the privacy and security concerns associated with data breaches. The non-compliance towards Payment Card Industry Data Security Standard (PCI-DSS) is increasing the prospect of card data breaches, which is resulting in the financial impacts.
The migration of the global payments market towards more secure chip card technology is anticipated to subdue the impact of this challenge.
Rise in the reasonably priced wireless communications technologies is fueling the mobile POS terminals market demand. Presence of universal wireless connectivity such as Bluetooth, and the availability of mobile card readers, scanners, printers, and other devices has driven the industry growth.
This growth has encouraged retail and hospitality industries to leverage new strategies and applications to offer a seamless customer experience.
The APAC POS terminals market is predicted to witness substantial growth owing to the growing usage of smartphones and the considerable unbanked population in densely inhabited countries. Increasing number of healthcare facilities coupled with the developing payment landscape is anticipated drive the demand.
In addition, China and India POS terminals market are anticipated to act as an impetus in generating a demand for the systems owing to a speedy increase in the number of businesses and SMEs.
The key industry players include VeriFone Systems Inc., Toshiba Corporation, Squirrel Systems, Shenzhen Xinguodu, Samsung Electronics Co., Ltd., Panasonic Corporation, PAX Technology, NEC Corporation, NCR Corporation, Ingenico Group, Fujian Newland and Cisco Systems, Inc. The industry is growing steadily with extensive demands, industry players are investing in R&D to gain a competitive advantage, which is anticipated to result in mergers and acquisitions.
In the industry, the number of solution providers and manufacturers are likely to increase, thereby escalating industry competition in the coming years.
POS terminals market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in unit shipments and revenue in USD from 2012 to 2024, for the following segments:
POS Terminals Market, By Application:
Entertainment, Healthcare, Hospitality, Retail, Warehouse, Others
POS Terminals Market, By Product
POS Terminals Market, By Component
The above information has been provided on a regional and country basis for the following:
North America, U.S., Canada, Europe, Germany, UK, France, Italy, Russia, China, India, Japan, Latin America, Brazil, Mexico, MEA
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