Point of Sale (POS) Terminals Market Potential Analysis 2024 Growth Dynamics Vendors - Ingenico Group, MICROS Systems, NCR Corporation, NEC Corporation, Toshiba, Verifone, Wincor Nixdorf, Hewlett-Packard Company, Samsung, Cisco, Panasonic

The (POS) point of sale terminals market is predicted to experience a high demand for the Mac OS over the coming years due to the increased data security and ease in use. The OS provides users a secure platform, which will protect the sales and customer data from virus attacks and data breaches. Moreover, several users are preferring Mac OS over Linux OS owing to its high compatibility with the hardware devices in the system. It also relieves the users from managing the updates of the drivers as compared to the Windows and Linux platforms that need periodical updates of system drivers. The players are offering Mac-based systems to their clients to improve their sales management, thereby accelerating the market growth.

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Major Brands of POS Terminals Industry

1. Ingenico Group
2. MICROS Systems Inc
3. NCR Corporation
4. NEC Corporation
5. Toshiba
6. Verifone
7. Wincor Nixdorf
8. Hewlett-Packard Company
9. Samsung Electronics
10. Cisco
11. Panasonic Corporation

A rapid increase in the application areas of the point-of-sale systems for inventory management, payments, printing bills, and managing customers will accelerate POS terminals market growth. Moreover, the growing demand for effective warehouse management solutions to keep track of productivity and profitability in business operations is encouraging several end-use verticals to install such systems. The manufacturers are developing inventory management solutions that perform several functions such as instant automated stock control, intelligent ordering, multichannel management, and flexible customer service. Software solutions are being developed to provide users with effective platforms to record sales transactions, manage customer details, provide flexible payment platforms, and report the availability of stock materials. Such factors are positively impacting the market growth.

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In the point of sale terminals market, the restaurant industry is projected to witness a high adoption of these systems and is anticipated to expand at a CAGR of around 16% over the forecast timespan. Several restaurant owners in the U.S. have started using systems such as tablets and digital kiosks to display menu, place orders, and for receiving payments, helping them to increase the operational efficiency and enhance the customer experience. Moreover, companies including Square, Inc. and Sr. Pago have developed systems that convert smartphone or tablet to a mPOS terminal and accept card payments. The adoption of such terminals is increasingly being witnessed across several restaurants as they are cheaper and more user-friendly, thereby driving the market demand.

Geographical trends leveraging POS terminals industry size

• POS terminals market revenue across APAC is set to experience a lucrative expansion in the future with the large-scale use of smartphones, Android Phones, and tablets. Densely populated regions such as India and China are expected to spur the regional growth.

• U.S. POS terminals industry is expected to leverage the development of North America POS terminals industry over the years ahead with the government promoting the use of EMV and NFC enabled instruments.

The adoption of traditional systems in the POS terminals market is high compared to biometric systems. In 2017, biometric technology accounted for less than 10% of the industry share and is the most advanced technology in the market. It has comparatively lesser adoption due to the unawareness and high costs associated with the replacement of the traditional systems. However, biometric terminals will witness a high adoption over the forecast timeline owing to several benefits such as authentication and identification features offered by the technology. In India, Aadhar-based POS terminals are being rolled out, which will escalate the demand for biometric devices. These devices offer secure transactions, protecting retailers and customers against fraudulent transactions. Such factors are encouraging several companies to adopt these systems, driving the biometric POS terminals market.

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The participants in point of sale terminals market are strictly involved in intensive research and development activities to enhance the POS terminals focusing on the factors such as improved service availability, applicability of the product for small consumers and merchants, cost effectiveness, and minimum processing time. Also, some of the giants are busy in the deployment of modern technology with ample support from the regional governments. For instance, Mastercard has collaborated with the Poland government to create digital payment gateways using mobile devices. Speaking of which, some of the notable companies in (point of sale) POS terminals market include Ingenico Group, MICROS Systems Inc, NCR Corporation, NEC Corporation, Toshiba, Verifone, Wincor Nixdorf, Hewlett-Packard Company, Samsung Electronics, Cisco, Panasonic Corporation.

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