Global POS Terminal Market: Snapshot
The global POS terminal market is growing at a healthy pace in the last few years. The rising adoption across diverse sectors and the increasing awareness among consumers related to the benefits it offers are projected to encourage the development of the market in the coming few years. Furthermore, the key focus on advancements and innovations is expected to offer growth opportunities for the players in the near future. The advent of real-time analytics functionalities is expected to act as a major opportunity for the development of the POS terminal market in the coming years.
As per the market intelligence report by Transparency Market Research, in 2016, the global market for POS terminal was worth US$54.68 bn. The market is estimated to register a promising 11.50% CAGR between 2017 and 2025.
Increasing Adoption by Small-size Retailers to Encourage Market Growth
The growing demand for cost-effective technologies in order to manage the inventories and payments in large end-user industries, including healthcare, retail, hospitality, and warehouse and distribution is the major factor augmenting the growth of the global POS terminal market in the coming years. In addition to this, the growing need for user-friendly, secure, and convenient payments in diverse application segments is another key factor encouraging the market growth. The rising adoption of POS terminals in the hospitality and retail sector is further estimated to drive the global POS terminal market in the near future.
The small-size retailers in several developing nations are adopting the POS terminals for secure and convenient payment options, thus driving the overall market. Moreover, the rising demand for wireless and mobile POS terminals among the small-size and medium-size businesses, owing to the affordability is further projected to accelerate the market growth in the coming few years. Furthermore, the growing popularity of POS terminals in warehouses and the growing need for advanced software in order to prevent frauds are considered to offer lucrative opportunities for players in the next few years.
North America to Lead Global POS Terminal Market
From a regional perspective, North America is expected to hold a major share of the global POS terminal market and register a promising growth rate in the coming few years. The rapid development of the entertainment and retail sector is considered as the key factor that is encouraging the growth of the North America market. In addition to this, the increasing rate of adoption of POS terminals among small retailers and quick service restaurants is likely to support the market growth in the next few years. On the other hand, Asia Pacific holds immense growth potential, thanks to which the key players are emphasizing on the developing nations in this region, thus supporting the growth of the market.
The global POS terminal market is moderately fragmented in nature with several players operating in it around the world. The competition in this market is expected to build up in the coming years, thanks to the rising number of new entrants and software vendors. The rising focus of the key players on the development of advanced technologies is expected to help the companies in gaining the competitive edge and enhance their penetration worldwide. Some of the key players engaged in the POS terminal market across the globe are Samsung Electronics Co. Ltd., Toshiba Corporation, MICROS Systems Inc., Panasonic Corporation, NEC Corporation, NCR Corporation, Cisco Systems Inc., Hewlett-Packard Company, VeriFone Systems Inc., Ingenico S.A., and PAX Technology Limited.
Global Point-of-Sale Terminal Market: Overview
Point-of-sale (POS) terminals market has gained significant momentum in recent years due to the ease of use and improved return on investment being offered by these systems. POS terminals have wide range of applications including payments, printing bills, inventory management and carrying out loyalty programs across various end-use verticals such as retail, hospitality and entertainment. The advanced POS systems offer higher reliability and durability as compared to traditional systems such as cash registers. The higher reliability of modern POS systems leads to significant reduction in total cost of ownership (TCO) and this in turn is aiding the growth in demand for POS solutions in small and medium size businesses. Mobile POS (mPOS) terminals have emerged as a contender for replacing the current transaction and payment techniques owing to its improved features such as mobility and better user experience. Mobile POS allows sales and service industries to conduct financial transactions at customers place, improving customer experience. Further, mobile POS terminals have low initial cost as compared to traditional fixed POS terminals systems leading to increasing demand from small and medium sized businesses. Further, hospitality and retail sector are experiencing significant growth in demand for mPOS solutions driven by improved return on investment and increased demand for customer analytics features.
Global Point-of-Sale Terminal Market: Scope of Study
The research report on the point-of-sale (POS) terminals market provides a detailed analysis of POS systems and helps in understanding driving forces behind the popularity of these systems across various end-use industries. It also provides an analysis of major sub-segments of the POS market for the years from 2015 to 2025. The report includes extensive analysis of the industry drivers, restraints, opportunities and market trends. The study provides comprehensive assessment of stakeholder strategies and imperatives for succeeding in the business. This research study focuses on market data and insights, including the size and growth of the POS terminals market. The report provides a thorough analysis of the emerging industry trends and the prevailing state of the market. It offers a comprehensive coverage of the underlying technological and economic factors influencing the POS terminals business. The prevalent competition in the market is identified through market share analysis of key players in the market. Furthermore, the value chain analysis and Porter’s five forces analysis are included in the report, aiming to provide strategic insight across the supply chain of the POS terminals market. Additionally, the report also includes profiles of major market participants for better understanding of their contributions. The company profiles include overview of company, revenue, strategies followed by them for gaining competitive advantage and SWOT analysis.
Global Point-of-Sale Terminal Market: Market Segmentation
The report segregates the market based on type, components, applications and geography. POS terminals market has been categorized into two types’ namely fixed POS terminals and wireless and mobile POS terminals. Components in the POS terminals market have been categorized into POS hardware and POS software. The study offers a complete understanding of different application sectors of POS terminals. The report includes various application areas of POS terminals such as restaurant, hospitality (lodging), healthcare, retail, warehouse / distribution, entertainment and others. Others segment includes application of POS in sectors such as field service, government, transportation, etc. The report aims to provide a comprehensive cross-sectional analysis of the component, type and application segments across North America, Europe, Asia Pacific and Rest of the World (RoW).
Global Point-of-Sale Terminals Market: Competitive Landscape
Key players in the market have been profiled in the report along with their business strategies and market positions. Companies profiled in this report include Ingenico S.A., NEC Corporation, PAX Technology Limited, NCR Corporation, Wincor Nixdorf International, MICROS Systems Inc., VeriFone Systems Inc., Cisco Systems Inc., Hewlett-Packard Company, Toshiba Corporation, Panasonic Corporation and Samsung Electronics Co. Ltd.
The global POS terminals market is categorized into the following segments:
POS Terminals Market, by Product Type
- Fixed POS Terminals
- Wireless and Mobile POS Terminals
POS Terminals Market, by Component
POS Terminals Market, by Application
- Warehouse / Distribution
- Others (Field Service, Government, Transportation, etc)
POS Terminals Market, by Geography
- North America
- Asia Pacific
- South America