Global Point-of-Sale Terminals Market to Exhibit 11.6% CAGR 2014-2020 with Surging Demand for Mobile POS Terminals

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.

POS terminals have a wide range of applications such as printing bills, payments, inventory management, and carrying out loyalty programs across various end-use sectors such as hospitality, entertainment, and retail. Compared to conventional systems such as cash registers,the advanced POS systems offer higher reliability. This leads to a significant reduction in the total cost of ownership, thereby increasing the demand for POS solutions across small and medium businesses. The report points out that the rapid growth of mobile POS terminals has boosted the growth of the global point-of-sales market. Enhanced customer experience and lower total cost of ownership has further augmented the growth of the market.

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However, security concerns pertaining to data breaches have emerged as a major obstacle and will restrain the growth of the market during the forecast horizon. The report states that the global point-of-sale terminals market has a huge opportunity to grow with the increased adoption of POS solutions by small enterprises.

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.

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Based on applications, the report segments the global POS terminals market into hospitality, restaurant, retail, healthcare, entertainment, warehouse/distribution, and others including government, field service, and transportation. In 2013, the retail sector dominated the overall market and held 34% share in the market. The increased adoption of advanced payment technologies among large as well as small retailers has propelled the growth of the POS terminals market. However, during the forecast horizon, the demand for POS terminals across the healthcare sector is expected to surge and the market in this sector is projected to expand at a CAGR of 16.1%.

The report segments the global POS terminals market into four key regions: North America, Europe, Asia Pacific, and Rest of the World. North America emerged as the dominant region in 2013 and accounted for a 32% share in the overall market revenue.Some of the key players in the global POS terminals market are Ingenico S.A., PAX Technology Limited, Toshiba Corporation, Cisco Systems Inc., MICROS Systems Inc.,Samsung Electronics Co. Ltd, NEC Corporation, Hewlett-Packard Company, and Panasonic Corporation.

Global Point-of-Sale Terminals Market has been segmented as:

POS Terminals Market, by Product Type
Fixed POS Terminals
Wireless and Mobile POS Terminals

POS Terminals Market, by Component
Hardware
Software

POS Terminals Market, by Application
Restaurant
Hospitality (Lodging)
Healthcare
Retail
Warehouse / Distribution
Entertainment
Others (Field Service, Government, Transportation, etc)

POS Terminals Market, by Geography
North America
Europe
Asia Pacific
Rest of the World

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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This release was published on openPR.