POS (Point of Sale) terminals constructing a cashless society
According to Goldstein Research, “Changing customer preference towards non-cash transactions over cash transactions is encouraging the growth of POS terminal market. Increasing number of e-commerce transactions with growing adoption of smartphones is driving the POS terminal market growth. However, lack of standardization in the communication and services offered by banks is challenging for customers to understand the benefits and policies resulting in less participation in cashless payment systems thereby impacting the POS terminal business.”
Global POS (Point of Sale) Terminals Market Outlook 2024
Global POS (Point of Sale) terminals market is segmented on the basis of components, by product type, by deployment type and by the end user. The end-user segment is further categorized into hospitality, healthcare, retail, entertainment, government, transportation, travel & tourism and restaurants. Restaurants, hospitality and entertainment segments are witness massive adoption of non-cash payment systems and thus strengthening the growth of global POS (Point of Sale) terminals market.
Global POS (Point of Sale) terminals market valued USD 46.1 billion in 2016. Asia-Pacific is the fastest growing region for global POS (Point of Sale) terminals market. Asia-Pacific big data market is anticipated to grow at a remarkable CAGR of 16.0% during the forecast period. Huge adoption of cashless payments in countries such as China, Japan, South Korea, Singapore, Australia and India are expected to propel the global POS (Point of Sale) terminals market in Asia-Pacific region.
Mobile Devices: An emerging segment for digital payment
Improving the existing infrastructure, acceptance of modern payment systems and value-added services are likely to propel the adoption of digital payment systems. Immediate payment services along with the electronic invoice presentment and payment (EIPP) is one of the key factors for the expansion of POS terminal business. Moreover, wide usage of mobile devices for payments is providing the flexibility to the user to pay anywhere and anytime. Mobile devices also help in tracking the alerts and notifications of payments which secures the sensitive transaction history. However, preference of online channel for high volume transaction may hinder the growth of mobile POS terminal market.
Global POS (Point of Sale) Terminals Market
The report contains a detailed overview of the global POS (Point of Sale) terminals market in terms of market segmentation by components, by product type, by deployment type and by the end user. Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global POS (Point of Sale) terminals market also provides competitive outlook of some of the major players of global POS (Point of Sale) terminals market which includes profiling of companies such as IBM Corporation, Ingenico, Cisco Systems, Inc., Verifone Systems Inc., PAX Technology, Equinox Payments, SZZT Electronics Co., LTD, First Data, Spire Payments, NCR Corporation, MICROS Systems Inc., CyberNet, Hewlett-Packard Company, Dspread Technology, Panasonic Corporation, Toshiba Corporation, Samsung Electronics Co. Ltd., Fujian Newland Payment Technology, Hangzhou Sunyard, NEC Corporation, Castles Technology, BBPOS, Bitel, Centerm, Squirrel Systems and Shenzhen Xinguodu Technology Co., Ltd (NEXGO). The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global POS (Point of Sale) terminals 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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