Transparency Market Research

Point-of-Sale (POS) Terminals Market Rising as Retail Giants Spreading Business Across the Globe

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.

 

Albany, NY -- (SBWIRE) -- 10/10/2016 -- The high adoption of POS terminals across the retail, hospitality, healthcare, and warehouse / distribution industry is driven by ease of use and high return on investment. . Types of POS terminals include fixed POS terminals and wireless and mobile POS terminals. Mobile POS (mPOS) offers many advantages over fixed POS such as low cost and enhanced mobility. Further, it offers ease of use, as any mobile or tablet can be converted into mobile POS by simply attaching a reader with it. Thus, mPOS terminals are expected to experience high growth in demand over the coming years. Components of POS systems include hardware and software. POS hardware devices include payment terminal (reader), workstation and accessories (receipt printer, cash drawer, bar code scanner, wireless bar code scanner, physical inventory scanner, PIN pad, and tag printers).

A recent research report published by Transparency Market Research offers an overview of the global point-of-sale terminals market and projects the growth of the market in the coming years. The report, titled "Point-of-Sale (POS) Terminals - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020", estimates the global point-of-sale terminals market to expand at a CAGR of 11.6% during the period between 2014 and 2020. The market was worth US$36.86 bn in 2013.

Download PDF Brochure for Technical Insights on Point-of-Sale (POS) Terminals Industry http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=458

POS applications include use of POS terminals in restaurant, grocery/supermarket, hospitality-lodging, healthcare, retail, warehouse/distribution, field service, and government. Retail was the largest application segment for the POS terminals in 2013. Fast bill processing, maintaining customer database, data backup, inventory management, offering special discounts and managing loyalty program of retail store are some of the major functions carried out by POS terminal systems. In recent years, various advancements in POS terminal systems such as adoption of real time analytics features are being observed and are leading to the growth of overall POS terminals market. Adoption of POS terminals across healthcare industry along with their growing use in warehouse management is expected to drive the market in future.

According to product type, the market for POS terminals has been classified into fixed, wireless, and mobile POS terminals. In 2013, in terms of revenue, the fixed POS terminals segment dominated the market and accounted for 81% share in the market. The early adoption of the technology in the market has propelled the growth of this segment. However, with the progress of technology, the market for wireless and mobile POS terminals has registered significant growth owing to advantages such as mobility, ease of use, and lower cost of deployment. The demand for mobile POS terminals is extremely high among small- and medium-scale businesses due to their low cost. Further, the use of tablets, smartphones, and other handheld devices has significantly increased across offices. This has led to an increased demand for mobile POS terminals.

View Report at http://www.transparencymarketresearch.com/point-of-sale-terminals-market.html

Intense Competition among Players Resulting in High Fragmentation in Market

Key players in the POS terminals industry include Samsung Electronics Co., Ltd., Panasonic Corporation, Toshiba Corporation, Hewlett-Packard Company, Cisco Systems, Inc., VeriFone Systems, Inc., MICROS Systems, Inc., PAX Technology Limited, NEC Corporation, and Ingenico S.A.The POS terminals industry is highly fragmented, with extreme competition among market participants. Wal-Mart and some other retail giants are spreading their business across the globe, which is resulting in a growing demand for POS solutions in the whole world.