Retail POS Terminals Market Forecast By Leading Key Player: Cisco, Ingenico Group, PAX Technology, Hewlett Packard Enterprise, VeriFone Systems, Samsung Electronics

Market Overview: -

Global Retail POS Terminals Market is expected to exceed USD 40 billion by 2024. This growth is accredited to the escalating demand for cashless transactions to facilitate payments. Cashless economies are highly prominent in the Asia Pacific and the Europe region, predominantly due to the usage of alternative forms of money such as payment cards. The present-day movement towards cashless transactions is expected to eradicate the disadvantages and inconveniences of cash based dealings.

Retail POS terminals offer high durability and reliability in comparison to their conventional counterparts such as cash registers, and hence witnessing large scale adoption in both small and medium sized stores which will augment the retail POS terminals market growth.

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Top Key Players: -

The vendors in the retail POS terminals market include Cisco Systems Inc., NCR Corporation, Ingenico Group, PAX Technology Inc, Hewlett-Packard Company, VeriFone Systems Inc., Samsung Electronics Co., Ltd., Panasonic Corporation, etc.

Regional Segmentations: -

The Asia Pacific region is expected to witness high growth in the retail POS terminals market owing to the evolution of retail sector in countries such as India and China. The demonetization effect in India has caused the customers towards cashless transactions and the convenience offered by it. The manufacturers in the region are actively focusing on launching devices QR Code enabled which will further escalate the demand.

The U.S. retail POS terminals market contributed largely to the global revenue in 2016. Cloud based POS systems are predicted to experience high demand owing to the accuracy, reduced manpower, in depth insights, and inventory management that it provides. Furthermore, this technology can be easily updated and is predicted to gradually replace conventional legacy systems. Brand loyalty amongst business owners has caused vendors such as Apple and Square to retain customers and expand their business.

Partial Chapter of the Table of Content

Chapter 1 Methodology & Scope

1.1 Methodology
1.1.1 Initial data exploration
1.1.2 Statistical model and forecast
1.1.3 Industry insights and validation
1.1.4 Definition and forecast parameters
1.1.4.1 Market scope & definitions
1.1.4.2 Forecast parameters
1.2 Data Sources
1.2.1 Secondary
1.2.2 Primary

Chapter 2 Executive Summary

2.1 Retail POS terminals industry 3600 synopsis, 2013 - 2024
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Product trends
2.1.4 Component trends
2.1.5 Service trends
2.1.6 Application trends

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The security concerns associated with the data privacy will inhibit the retail POS terminals market growth over the forecast timeline. This is due to the concern regarding the cyber-attacks such as the DDoS. Moreover, the high cost associated with the implementation of these systems and the investments required for the widescale adoption poses a significant challenge for the retailers. Furthermore, the threats related to skimming and malware while making transactions will challenge the industry growth.

The retail sector is getting more organized across the world, which will provide impetus for the hypermarkets and supermarkets segment growth over the next few years. This is due to the development of customized POS terminals by the vendors to offer real time dashboard options, user profiles for different users. Such functionalities enable the clients to streamline the workflow, thereby boosting sales and profits. This will provide growth opportunities to the retail POS terminals market.

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