A point of sale terminal is an electronic device used to process payments at the retail locations. It involves maintaining and tracking the customer orders, processing debit and credit card payments. It is a computerized replacement for a cash register. With the rising popularity of e-commerce, the recent years have witnessed an exponential increase in the number of online shoppers.
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“Point of Sale Terminal Market: Global Demand Analysis & Opportunity Outlook 2024”
The global point of sale terminal market is segmented into component such as hardware and software. Among these segments, hardware point of sale terminal segment is expected to occupy the top position in global point of sale terminal market.
Further, increasing transactions through debit cards and credit cards is expected to supplement the growth of global hardware point of sale market. However, evolving trend of using cloud based POS and mobile wallets by the consumer are envisioned to bolster the growth of point of sale software market during the forecast period.
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Global point of sale terminal market is expected to flourish at a significant CAGR of 19.8% over the forecast period. Factors such as increasing adoption of point of sale in various end use industries, growing number of retail establishments and favorable government initiatives are expected to drive the growth of the Global Point of Sale Terminal Market.
Moreover, the global point of sale terminal market is expected to garner USD 120 Million by the end of 2024.
North America grabbed the highest percentage share in overall point of sale terminal market in 2016. Further, North America is expected to continue its dominance over the forecast period.
The growth in the region can be attributed to existing and increasing establishments of retail markets in the region. Europe market is expected to expand at a significant CAGR during the forecast period i.e.
2017-2024. Growth and expansion of end use sectors such as retail and others in the region is expected to be the key factor behind the growth of point of sale market in the Europe region.
Growth of Retail and E-commerce Industry
The global demand for point of sale is increasing due to the rising number of retail and e-commerce business across the globe. Further, spiked adoption of POS in hospitality and healthcare industries is expected to positively impact the growth of the global point of sale market over the forecast period.
Innovation and Technological Developments
Technological advancements associated with point of sale such as chip-embedded payment solutions, biometric payment and other advancements are propelling the demand for point of sale across the globe. Moreover, government initiatives to increase cashless transactions are anticipated to positively impact the growth of the point of sale market.
However, risk associated with data security is expected to hamper the growth of the global point of sale terminal market.
The report titled “Point of Sale Terminal Market: Global Demand Analysis & Opportunity Outlook 2024” delivers detailed overview of the global Point of sale terminal market in terms of market segmentation by component, by technology, by application and by region. Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global point of sale terminal market which includes company profiling of Samsung Electronics Co., Cisco Systems Inc., MICROS Systems Inc., Hewlett-Packard, Panasonic Corporation, Toshiba Corporation, NEC Corporations, VeriFone Systems Inc., PAX Technology Limited and Oracle. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the Global Point of sale terminal market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wise decision so as to avoid future uncertainties.
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Category: Market Research Publishers and RetailersCompany about: Research Nester is a leading service provider for strategic market research and consulting. We aim to provide unbiased, unparalleled market insights and industry analysis to help industries, conglomerates and executives to take wise decisions for their future marketing strategy, expansion and investment etc. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds. Our out of box thinking helps our clients to take wis ...
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