Point-of-Sale Terminals Market to Grow 2X amid Prevalence of Cashless Payments
Digital transformation of end-use industry verticals such as retail, healthcare, and hospitality is propelling the demand for Point-of-Sale (POS) terminals.
Owing to the benefit of digitization such as traceability, security, and tractability, POS terminals market exhibits a robust growth rate of more than 7% during the forecast period (2019-2029).
Advancements in internet connectivity such as 5G will bolster growth of POS terminals during the forecast period. As a result, mobile POS terminals are projected to exhibit high growth during the forecast period. Innovation of POS systems integrated with inventory, merchandising, marketing, and customer relationship management will give manufacturers a competitive edge.
Prevalence of digital payments is a central force behind the growth of POS terminals market.
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Software is set to Exhibit Robust Growth, Services Buckling up
The software segment is anticipated to exhibit robust growth and will grow three-fold through 2029. The fast growth of the software segment over the forecast period can be attributed to high data support functionalities and advancements in cloud computing.
The growing utilization of software-as-a-service (SAAS) platforms for POS terminals will further fuel the demand for software components.
Further, retail is set to propel demand for POS terminals with a maximum market value share of over 34%, closely followed by Restaurants. Mass adoption of cohesive technologies such as Near Field Communication (NFC) in debit and credit cards will drive product demand in retail segment.
In particular, handheld mobile POS terminals will witness increasing traction from retail and restaurant applications. Healthcare offers the highest growth potential with a stellar growth rate of 9% through 2029.
Increasing need to manage patient information, smoothen time sensitive payment processes, and track employee statistics will drive growth in the Healthcare segment.'
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East Asia to Lead Global Sales, South Asia & Oceania offer Incremental Opportunities
East Asia leads the global POS terminals market with a majority market value share of over 49%. Surging penetration of online transactions in China and Japan will prove to be a driving factor behind the impressive 8% growth during the forecast period.
South Asia & Oceania are projected to exhibit the second largest market share with a strong 9% CAGR from 2019 to 2029. Developing countries in Asia Pacific are witnessing a boom in cashless payments which furthers the demand for point-of-sale terminals.
Investments in developing network infrastructure and cloud based POS systems present remunerative opportunities.
Network Infrastructures to Give Stakeholders a Competitive Edge
Development of network infrastructure to support cashless transactions will define how manufacturers employ business strategies in a fragmented market. For instance, Ingenico recently integrated with Apple Pay Support for loyalty programs to drive consumer engagement with merchants.
Toshiba Corporation announced a strategic partnership with Weis Markets to provide cashless payment systems in a bid to improve consumer experience.
Market players that influence the competitive landscape are but not limited to, Cisco Systems, Inc., Centerm Information Co., LTD., Diebold Nixdorf Incorporated, Hewlett-Packard Inc., Hisense, Ingenico Group, NCR Corporation, NEC Corporation, Newland Payment Technology, Oracle Corporation, Panasonic Corporation, PAX Technology Corp., Posiflex Technology Inc., Samsung Electronics Co., Ltd., Toshiba Corporation, and VeriFone Systems Inc.
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Global Point-of-Sale Terminals Market – Scope of the Report
The following report provides forecast and analysis of the global point-of-sale terminals market along with the historical data of 2014, estimated data 2019 and forecast data up to 2029 in terms of value (US$ Mn) and volume (‘000 Units), according to a Fact.MR study. The research propounds critical trends that are currently influencing growth within the global point-of-sale terminals market along with several macro-economic indicators. This newly published and insightful report on point-of-sale terminals sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global point-of-sale terminals market.
The report also comprises the study of current issues with end users and opportunities for point-of-sale terminals. It also contains value chain analysis, including the key market participants. To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews. The dashboard included in the report provides a detailed comparison of point-of-sale terminals manufacturers on parameters such as total revenue, product offerings, and key strategies. A list of key companies operating in the point-of-sale terminals market provided in the report adds to the credibility of this exhaustive research study.
Global Point-of-Sale Terminals Market: In-Depth Assessment on Key Segments
The global point-of-sale terminals market is segmented on the basis of product, component, deployment, application and region.
This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.
Country-specific assessment on demand for point-of-sale terminals has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous point-of-sale terminals manufacturers, experts, and suppliers. Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target end-use industries. The market has been forecasted based on constant currency rates. The report provides detailed competitive and company profiles of key participants operating in the global point-of-sale terminals market. Some of the major competitors operating in the point-of-sale terminals market are Cisco Systems, Inc., Centerm Information Co., LTD., Diebold Nixdorf, Incorporated, Hewlett-Packard Inc. and others.
Global Point-of-Sale Terminals Market: Research Methodology
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications. Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research. The report also includes a description of assumptions and acronyms utilized for research purposes. Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights into the point-of-sale terminals market.
A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the point-of-sale terminals market, which includes global GDP growth rate, various sectors growth rate such as restaurants, hospitality, healthcare and others. This report serves as an authentic resource of intelligence on the point-of-sale terminals market, enabling the readers to take fact-based decisions on the future direction of their businesses.
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