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Point of Sale (POS) Terminals Market (Fixed POS Terminals and Wireless and Mobile POS) - Forecast up to 2020

06-21-2017 06:04 PM CET | IT, New Media & Software

Press release from: TMR - Research Reports

Point of Sale (POS) Terminals Market (Fixed POS Terminals

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).

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.

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In 2013, North America was the largest market for POS terminals in terms of revenue. The region has experienced significant adoption of POS terminals across various industries such as retail and entertainment. Continuous demand for POS solutions across countries such as Canada and the U.S. is attributed to significant growth of retail stores, quick service restaurants and casinos in the region. In Europe, compliance requirements such as EuroPay, MasterCard and Visa (EMV) regulation are driving the growth of POS terminals market as these have enhanced the security of payments. Germany, France, and UK are experiencing significant growth in the POS terminals market for healthcare application due to significant investment in technology to upgrade healthcare facilities in these countries.

Asia Pacific region is expected to be the fastest growing region owing to expanding retail and hospitality sectors in China and India. Demand from countries such as Japan, China, India, Hong Kong and Australia is expected to drive Asia Pacific market in coming years. Increasing demand for mobile POS from small and medium size businesses is expected to further drive the growth POS terminals market in rest of the world (RoW) region. Wal-Mart and other big retail chains are expanding their business in Latin America and this has led to growing demand for POS solutions in the region.

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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. POS terminals have wide range of applications including payments, printing bills, inventory management and carrying out loyalty programs across various end-use verticals such as retail, hospitality and entertainment. The advanced POS systems offer higher reliability and durability as compared to traditional systems such as cash registers. The higher reliability of modern POS systems leads to significant reduction in total cost of ownership (TCO) and this in turn is aiding the growth in demand for POS solutions in small and medium size businesses.

Mobile POS (mPOS) terminals have emerged as a contender for replacing the current transaction and payment techniques owing to its improved features such as mobility and better user experience. Mobile POS allows sales and service industries to conduct financial transactions at customers place, improving customer experience leading to free up valuable apace for business. Further, mobile POS terminals have low initial cost as compared to traditional fixed POS terminals systems leading to increasing demand from small and medium sized businesses. Further, hospitality and retail sector are experiencing significant growth in demand for mPOS solutions driven by improved return on investment and increased demand for customer analytics features.

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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

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