Global Point of Sale Terminals Market (POS) by Product (Fixed, Mobile) –by Component (Hardware, Software, Services) –by Deployment (Cloud, On-premise) –by Service (Managed Services, Repair and Maintenance Services, Professional Services) –by Application (Restaurants, Hospitality, Healthcare, Retail, Warehouse, Entertainment, Others) –By Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America) – is expected to reach US$ 118.23 Bn by 2026, at a CAGR of 11.8%.
The key factors driving the Global Point of Sale Terminals Market (POS) growth are increase in cashless transaction across countries, increase in e-commerce transaction, increased adoption of wireless POS terminals by retailers, and rising adoption of wireless technology in mobile handsets and wearable and mobile handsets. However, need for extensive government certifications, strict regulations, and increasing data security concerns are anticipated to act as restraints to market growth.
Global Point of Sale Terminals Market (POS) has some opportunities such as reduced cost and increased reliability of wireless technology and increased adoption of dual-interface chip technology and increased application support by HCE (Host Card Emulation) and NFC (Near-Field Communication) that can help to increase the market growth. Also, some challenges faced by the market are low rate adoption of wireless POS terminals, low consumer awareness regarding wireless POS technology and lack of standardization.
Fixed POS emerged as the largest product segment in 2017
In terms of product, fixed terminals are traditional PC/ monitor POS systems installed on counters or reception areas. These systems are complex in nature, need continuous power supply, and high maintenance costs are involved. Mobile applications have the ability to create new channels for revenue growth.
The services segment is expected to register the fastest growth among other POS terminal components
Based on component, the services segment is expected to register the fastest growth among other POS terminal components owing to rising security threats to financial and personal data. Penetration of these systems in developing countries is also driving segment growth.
Based on component, the services segment is expected to register the fastest growth among other POS terminal components owing to rising security threats to financial and personal data. Penetration of these systems in developing countries is also driving segment growth.
On-premise deployment accounted for the largest market share in 2017
On the basis of deployment, On-premise deployment accounted for the largest market share in 2017. On-premise deployment comprises manual installation at the customer’s place, which includes electrical work, cabling and cabling permits, and hardware and software installation. Cloud-based POS deployment involves installation of Software as a Service (SaaS)-based software in retailers’ existing personal computers.
North America is leading the point of sale (POS) terminals market
In terms of region, North America is leading the point of sale (POS) terminals market and is expected to continue on the dominant position in the upcoming years. The increasing demand for the product in retail and entertainment sectors along with rise in adoption of this payment technology in the region is the major factor behind the dominance of the North America point of sale (POS) terminals market.
This report includes a study of marketing and development strategies, along with the product portfolios of leading companies. It includes the profiles of leading manufacturers such as Ingenico S.A., Verifone Systems, PAX Technology, HP Company, Cisco Systems, Panasonic Corporation, Toshiba Corporation, Samsung Electronics, and MICROS Systems.
Maximize market research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the Global Point of Sale Terminals Market (POS). Report encompasses the market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Global Point of Sale Terminals Market (POS). The driving forces as well as considerable restraints have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain Global Point of Sale Terminals Market (POS) positioning of competitors.
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+91 9607065656
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