Point of Sale (POS) terminals market look forward to capitalizing on the opportunities provided by growing technological innovations in payment systems and demand for sophisticated payment interfaces.
Dallas, TX -- (SBWIRE) -- 02/20/2019 -- Technology is increasing at an extremely rapid rate leading in the appearance of inventive solutions of payment. All over the world, retail stores are focusing on delivering the significant experience of consumers like providing consumers with unified options of payment ultimately participating in the Point of Sale (POS) terminals market growth. In the historic year 2017, Point of Sale (POS) Terminals Market Size Is Forecast to Fly Past the USD 28 Billion Mark by 2025. It is expected to increase the market in terms of rising in the digitization in the retail sector during the forecast period.
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Point of Sale terminal is essentially a mixture of software and hardware utilized by the dealers to comprehend the transactions of payment. Most recent technologies in the solutions of POS software consisting of additional features like inventory management, reporting, analytics, dashboards and more. On considering the hardware, POS terminals can be divided into wireless or wired devices. Point of Sale terminals market consists of software and hardware segments.
Mobile POS Terminals (M-POS) is a cost-effective method of POS transaction mainly used by small and medium sized businesses and also the second highest contributor to the overall Point of Sale (POS) terminals market. It is a portable POS that can be connected to a smartphone or a tablet that can function as a register. The customer either swipes the card on the machine connected to the phone or directly reads through the merchant's phone using NFC or Bluetooth. Factors that work in the favor of mobile POS terminals market are increasing use of smartphones and emergence of innovative business models leveraging low cost technologies. This, in turn, have contributed to the overall growth global Point of Sale (POS) terminals market.
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The significant demand for the affordable technologies for handling inventories and payments in various end-use industries like healthcare, retail, distribution, hospitality and warehouse is the main factor responsible for increasing the demand for Point of Sale (POS) terminals market. Increase in the need for user-friendly, convenient and secure payments in several application segments is fueling the growth of global POS terminals market. Growth in the acceptance of the POS terminals in the hospitality and retail sectors in numerous developed and developing economies is boosting the growth of Point of Sale (POS) terminals market.
Moreover, governments all over the world are capitalizing more in the infrastructure of POS and have started the programs that offer incentives to the dealers fueling the Point of Sale (POS) terminals market growth. For example, the Central Bank of Malaysia has passed the framework of a payment card in December 2014 that endorsed the maximum use of recognition and card. The framework of payment card arranges the Market Development Fund (MDF) where near about 0.1% value of the credit card transaction can be abstracted to the positioning of POS terminals. Depositors focusing to capitalize in terminals of Point of Sale (POS) market are concentrating to invest on the prospects offered by rising technological developments in the systems of payment and demand for the refined payment interfaces.
Fast growth in the application areas of point-of-sale systems for payments, inventory management, managing customers and printing bills will increase the speed of POS terminals market growth. In addition, an increase in demand for significant solutions of warehouse management to keep the record of profitability and productivity in business operations is influencing various end-use verticals for installing the systems.
Various manufacturers are increasing the inventory management solutions that carry out various functions like intelligent ordering, flexible customer service, immediate automated stock control and multichannel management. Solutions of software are mostly developed to offer users with platforms to keep the track of transactions of sales, offer flexible payment platforms, manage customer details and inform the sustainability of stock materials.
Several key players are involved in the development of global point of sale (POS) terminals market are Cisco Systems, Ingenico SA, PAX Technology Limited, NEC Corporation and more.
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Key segments of the global point of sale (POS) market
POS Type Overview, 2013-2025 (USD million)
- Smart POS
- Integrated POS
Components Overview, 2013-2025 (USD million)
Technology Overview, 2013-2025 (USD million)
Industry Overview, 2013-2025 (USD million)
Regional Overview, 2013-2025 (USD million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Central & South America
- Rest of Central & South America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
What does the report include?
The study on the global point of sale (POS) terminals market includes qualitative analysis of factors such as drivers, restraints, and opportunities
- Additionally, the market has been evaluated using the PESTLE analysis and Porter's Five Forces' analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of application and region. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
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