The demand within the global market for Point-of-Sale (POS) terminal has been rising on account the growing popularity plastic money, finds Transparency Market Research (TMR). A POS terminal can read the information on a debit and credit card to process payments or initiate transactions. Several vendors have lately emerged in the global POS terminal market, and this has led to increased competition within this market. The leading vendors in the global POS terminal market are earning the benefits of their historic presence in this market. Furthermore, these vendors have had a brilliant track record in producing high-quality POS terminals or machines. The increasing usage of credit and debit cards has provided lucrative opportunities for growth to the market vendors.
New mergers and acquisitions are expected to be a salient feature global POS terminal market. The need to expand into new territories could prompt the leading vendors in the global POS terminal market to acquire local and regional players. Furthermore, the presence of several local vendors in the global POS terminal market is a subtle threat to the growth of the leading players. There is recurring need for improved POS terminals which has given an impetus to the growth of the global market. Some of the key vendors in the global POS terminal market are Toshiba Corporation, Panasonic Corporation, MICROS Systems Inc., NEC Corporation, Cisco Systems Inc., and NCR Corporation.
Transparency Market Research (TMR) predicts that the global POS terminal market would expand at a stellar CAGR of 11.50% over the period between 2017 and 2025. The total value of the global POS terminal market was US$54.68 bn in 2016. On the basis of application, the demand for POS terminal in the hospitality sector in on a rise. Based on geography, the market for POS terminal in North America has been expanding at a stellar pace.
Growing Popularity of Plastic Currency to Propel Demand
The growing concerns with regard to carrying cash have led to greater adoption of debit and credit cards. Henceforth, the global market for POS terminal is projected to expand at a robust rate in the years to come. The retail sector has become increasingly customer-centric, and this has led to the adoption of POS terminals across this sector. Therefore, there is no contention about the inflow of voluminous revenues into the global POS terminal market. POS terminal are considered to be the safest mode of payment due to its credibility and swift processing. This factor shall also bring in voluminous revenues into the global POS terminal market in the years to come.
Unorganised Banking Sector could Hamper Market Growth
Despite the stellar pace of growth within the global POS terminal market, the growth of this market is hampered by several factors. The inability of the banking sector to timely dispatch credit and debit cards to the masses has restrained market growth. However, distribution of POS systems to retail outlets by several nationalised banks has compensated for the restrains. The market for POS terminal is also expected to expand as new policies for credit and debit card insurance come to the fore.
The review is based on TMR’s report titled, “POS Terminal Market (Product Type - Fixed POS Terminal, Wireless and Mobile POS Terminal; Component - Hardware and Software; Application - Restaurant, Hospitality, Healthcare, Retail, Warehouse/Distribution, and Entertainment) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025”.
The global point-of-sale (POS) terminal market is segmented based on:
- Fixed POS
- Wireless and Mobile POS
- Warehouse / Distribution
- Field Service
- North America
- Asia Pacific
- South America
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