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Retail (Point of Sale) POS Terminals Market to Witness Huge Growth by 2024 | Leading Key Players: Toshiba Corporation, Samsung Electronics Co., Ltd., VeriFone Systems Inc., Ingenico Group, NCR Corporation, Panasonic Corporation

08-20-2018 11:26 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: marketstudyreport.com

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Retail (Point of Sale) POS Terminals Market to Witness Huge

The newly released research at Market Study Report titled “2017-2024 Global Retail (Point of Sale) POS Terminals Market Report” provides data, information, brief analysis, company profiles, statistics for past years and forecasts for next few years.

Retail POS Terminals Market size is projected to be worth over USD 40 billion by 2024; according to a recent research report.

Technological advancements such as the advent of near field communication (NFC) technology and biometrics has revolutionized the retail POS terminals market. Integrated card machines allow the usage of multiple payment techniques and can also gather data for providing in depth analysis. Business owners are now required to provide flexible payment option such as credit cards, checks, and digital payments to attract customers.

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The retail sector, primarily in the South-East Asian and North American countries, is anticipated to experience high growth. The retail sales in North America in 2016 were valued at more than USD 5 billion. The increasing disposable income, increasing online retailers, and growing penetration of smartphones is driving the retail sector in North America. Retailers in these regions are retaining customers by customizing offerings, providing variable payment methods, and mapping consumer patterns. Furthermore, continued increase in performance of companies acting in auto retail, home improvement, dollar store, & drug store and specialty retail, supermarkets, & department stores sectors are expected to present several growth opportunities for the retail POS terminals market.

The rising demand for cloud-based POS systems is anticipated to drive the retail POS terminals market during the forecast timespan owing to the cost effectiveness and the reduced need for frequent upgrades. Additionally, advanced SaaS systems integrates customer resource management (CRM) solutions to combine historical customer data to influence online ordering, loyalty programs, and targeted marketing.

The rising demand for SaaS and cloud based solutions is anticipated to augment the retail POS terminals market growth and create new opportunities for vendors. Evolution in hacking and cybercrimes poses a high security threat and can lead to the theft of personal customer information, financial resources, and the loss of reputation amongst customers. The equipment and the software require continuous updating and management to ensure the technology can keep up cybercrime evolution.

The EMV card and card-reader growth is predicted to be highly concentrated in the European region owing to the European mandate that necessitates the integration or upgrade of all POS terminals with EMV by 2020. This will augment the retail POS terminals market demand for contactless card payments across most regions in Europe over the forecast timespan and reduce the threat of fraud and identity theft. Additionally, customer reward programs require efficient retail POS systems to monitor the data. Various POS systems such as ERPLY and ShopKeep integrate this technology to tightly monitor reward programs and enhance customer retention.

Players operating in the global retail POS terminals market include Toshiba Corporation, Samsung Electronics Co., Ltd., VeriFone Systems Inc., Ingenico Group, NCR Corporation, Panasonic Corporation, PAX Technology Inc., and Hewlett-Packard Company. Companies operating in the retail POS terminals market undertake business strategies such as acquisitions, collaborations, and product innovations to sustain growth.

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Retail POS Terminals Market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2013 to 2024, for the following segments:

Retail POS Terminals Market, By Product
Fixed retail POS Terminals
Mobile retail POS Terminals

Retail POS Terminals Market, By Component
Hardware
Software
Services
Professional Service
Support & Maintenance
Training

Retail POS Terminals Market, By Application
Department stores
Supermarkets/Hypermarkets
Warehouse
Convenience stores
Discount stores
Specialty stores
Others

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 360 degree 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
Chapter 3 Retail POS Terminals Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2013 - 2024
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.3.2 Distribution channel analysis
3.4 Technological and innovation landscape
3.4.1 Android and Apple POS terminals
3.4.2 Biometric recognition technology
3.4.3 Cloud based POS systems
3.4.4 Contactless POS terminals
3.5 Retail industry landscape
3.5.1 North America
3.5.2 Europe
3.5.3 Asia Pacific
3.5.4 Latin America
3.5.5 Middle East & Africa

For more details about this report: https://www.marketstudyreport.com/reports/retail-point-of-sale-pos-terminals-market

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