Point of Sale (POS) Terminals Market - Global Industry Growth, Size, Share, Analysis & Forecasts 202
The global point of sale (POS) terminals market report also includes qualitative insights of the market such as drivers, restrains, value chain, regulatory framework and trade statistics
[USPRwire, Fri Mar 22 2019] The study covers the global point of sale (POS) terminals market value and volume for a period ranging between 2012 to 2025, where 2012 to 2017 imply the actual annual consumption with forecast between 2018 and 2025. The global point of sale (POS) terminals market report also includes qualitative insights of the market such as drivers, restrains, value chain, regulatory framework and trade statistics. The value chain has been analyzed in detail covering key stages. The global point of sale (POS) terminals market 2018 gives a holistic view encompassing production, consumption, import and export for key regions and countries.
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, global point of sale (POS) terminals market size accounted at USD 8.44 Million. 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.
Smart POS terminals are one of the types of POS devices available in the global market. It combines the merchant’s payment with data analytics and back office support tools into a simple platform for payments in both e-commerce and physical stores. For instance, marketplaces run by Amazon and Walmart both have e-commerce platform as well as physical stores in the US. Hence, a common data analytics system is required, whether the purchase was done from the POS terminal or e-commerce channel. The smart POS terminals market is expected to grow at the CAGR of 17.1% in the forecast period of 2018-2025.
The hardware segment of the POS components has the highest revenue share within the global Point of Sale (POS) terminals market and was valued more than USD 4 billion in 2017. The hardware of the POS terminals vary according to the applications. For instance, large retail or food stores prefer wireless and touch-screen POS terminals which makes their customer experience smooth. While, the small retailers opt for mobile POS (M-POS) terminals which are less costly and very easy to deploy leading to the overall growth of Point of Sale (POS) terminals market.
The point of sale terminals market in Latin America looks promising as electronic retail trade has undergone exponential growth in the period of 2011 to 2016. Owing to the annual increase in the card holders mainly in Dominican Republic, Mexico and Colombia, the Point of Sale (POS) terminals market share of Latin America has grown exponentially until 2017 and is expected to grow with a CAGR of 16.1% in the forecast period. The Latin America Point of Sale (POS) terminals market is majorly served by the cost-effective counter-top terminals followed by M-POS solutions.
Governments across the world are investing more in POS infrastructure and have initiated programs which provide incentives to the merchants driving the growth of Point of Sale (POS) terminals market. For instance, the Central Bank of Malaysia passed a payment card framework in December 2014 which promoted greater usage of card and acceptance. This framework setup a Market Development Fund (MDF) in which 0.1% of the credit card transaction value could be diverted from issuers to the deployment of POS terminals. All the investors who are looking to invest in 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.
The competitive landscape of the global point of sale (POS) market includes presence of players serving to local markets as well as to international markets. Companies such as Ingenico, Verifone, Pax Technology, SZZT, Nexgo, Toshiba and Square have broader presence within the global market.
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