New York, NY -- (SBWIRE) -- 10/17/2017 -- Global POS Machine Market: Forecast Insights
The global POS machine market is projected to grow at an exponential growth rate during the period of assessment. The global market is poised to grow at a value CAGR of 11.5% during the 2017-2025 period to reach a market evaluation of around US$ 144.2 Bn in 2025 from US$ 60.2 Bn in 2017. The growth path of the POS machine market from 2012-2016 was a bit slower as compared to the 2017-2025 period, where it reflects a higher increase in value and volume.
Global POS Machine Market: Dynamics
The enhancements in the POS terminal systems in recent years (for example, features like real time analytics), rising use of mobile devices for POS transactions, emergence of chip-embedded payment cards and PIN (Personal Identification Number) that minimizes security concerns, high government initiatives to encourage the use of payment cards and POS terminals, rise in modern retail, higher adoption of POS terminals in various sectors such as healthcare, hospitality and retail, rapid urbanization and increasing literacy levels, rise in cashless economy and implementation of policies and regulations for electronic payment systems have driven the growth of the global POS machine market. Also, several marketing initiatives and increased focus on customer retention has supported the health of POS machine market worldwide. The customer database on shopping patterns can be recorded in the POS systems which can be used to deploy discounts, promotions and several loyalty programs to generate more opportunities.
Moreover, trends like adoption of contactless POS, growth in NFC and EMV technologies in POS systems, technological trends like motion sensing images and tablet POS systems, mPOS (mobile point-of-sale) and growth in the retail infrastructure have presented several opportunities in the global POS machine market. However, high initial investment will always be a concern in this market due to costly hardware and software components restraint. To add to this, the lack of digital awareness, poor use of technology, rise in mobile wallets (especially in emerging economies) and slow penetration of payment cards throw challenges to the growth of the global POS machine market.
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Global POS machine market to register high growth rate during 2017-2025
According to Persistence Market Research, the global POS machine market is anticipated to show significant market share and an exponential growth rate during the period of forecast 2017-2025. The POS machine market has seen positive growth since 2012. The global POS machine market is projected to grow at a CAGR of 11.5% throughout the period of assessment to reach a valuation of about US$ 144.2 Bn in 2025 from a value of around US$ 60.2 Bn in 2017. This high growth can be attributed to the emergence and integration of new technologies such as NFC and IoT in POS machine applications. The increasing revenue growth is attributed to continuous launching of GPS offerings and rise of niche players in the market. Moreover, increasing number of service and consultancy providers for POS machine is also supporting growth of this market.
Tough call between retail and consumer goods and BFSI
The global POS machine market by industry is expected to be led by retail and consumer goods segment with respect to higher market share. However, the BFSI segment by industry also has significant market share, a shade lower than the retail and consumer goods segment. But BFSI shows higher growth rate compared to retail and consumer goods segment during the forecast period. BFSI can be considered as a segment worth investing in. Retail and consumer goods segment is estimated to grow at a significant rate to reach a market evaluation of about US$31 Bn by 2025.
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Regional Analysis by Industry
The global POS machine market is swelling forward with high growth regions of North America, Europe, Asia Pacific, Latin America and Middle East and Africa. In North America, manufacturing sector is poised to grow at a higher CAGR of 16.2% with a 15.2% Y-O-Y in 2025. Retail and consumer goods segment dominate the market, growing at a high CAGR. In Europe, the healthcare segment by industry grows at the highest rate to reflect a high 13.9% CAGR during the period of assessment. Manufacturing segment in Europe has high potential with respect to growth rate and market share as it stands next to retail and consumer goods segment in Europe. Healthcare segment also finds Asia Pacific a high potential region for growth where it gained high growth rate in the recent years. Asia Pacific region is expected to be lucrative region for all segments in the industry category.