Global Point-of-Sale (POS) Terminals Market to Top With USD 98.27 Billion by 2022

With the presence of a large pool of participants, the global point of sale (POS) terminals market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Hewlett-Packard Company, Toshiba Corporation, Samsung Electronics Company Ltd, and VeriFone Systems Incorporation are some of the key vendors of point of sale terminals across the world. These players across point of sale (POS) terminals market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the point of sale (POS) terminals market study.

Citing an instance, in August 2018, Verge (XVG) has entered into partnership with Pundi X for making XVG available to large number of persons. Reportedly, as a result of strategic association between Verge & Pundi, the users of latter’s POS terminals can make purchases of cryptocurrency coins through XVG.

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In a major breakthrough witnessed across the Indian point of sale (POS) terminals market, this month, SBI launched its latest user friendly Multi Option Payment Acceptance Device , a kind of POS terminal. For the record, the new system will facilitate end–users to make payment via cards, UPI, Bharat QR, and SBI Buddy through point of sale (POS) terminal. Analysts claim that the main objective of the introduction of new device is to make the banking system more user-friendly and facilitate ease of carrying out business activities for traders during the real-time scenario.

As estimated in this report, the global point of sale (POS) terminals market stood at US$ 45.97 billion in 2016. Witnessing a tremendous rise during the period from 2017 to 2022, the revenue in this point of sale (POS) terminals market is expected to reach US$ 98.27 billion by the end of the forecast period. The main products available in this point of sale (POS) terminals market are fixed POS terminals as well as wireless and mobile POS terminals. Among the two, the demand for Wireless and mobile POS terminals is relatively higher and the trend is anticipated to remain so over the next few years, notes the point of sale (POS) terminals market research report.

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Rise In Ecommerce Activities Across Globe to Succor Market Development

“Thriving ecommerce sector and growing trend among the end-users to go for cashless online financial transactions is projected to generate more demand for point of sale terminals over the coming years,” says the author of this point of sale (POS) terminals market study. Apart from this, mounting product preference across myriad sectors such as healthcare, manufacturing, retail, government, and warehouse are anticipated to augment the point of sale (POS) terminals market scope over the years to come.

Rising security concerns and low product awareness among the small businesses can negatively influence the point of sale (POS) terminals market development in the years ahead.

Wide Product Application In Retail & Entertainment To Spur Regional Growth

Regionally, North America has been leading the worldwide point of sale (POS) terminals market and is anticipated to continue on the dominant position in the years to come, states the point of sale (POS) terminals market study. The rising demand for the product in retail and entertainment sectors along with rise in adoption of this payment technology in the region is the main factor behind the dominance of the North America point of sale (POS) terminals market.

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The global point of sale (POS) terminals market is segmented as follows:

By Product

Fixed POS Terminal
Wireless and Mobile POS Terminal
By Component

Hardware
Software
By Application

Retail
Hospitality
Healthcare
Warehouse
Entertainment
Others
By Region

North America
The U.S.
Europe
UK
France
Germany
Asia Pacific
China
Japan
India
Latin America
Brazil
The Middle East and Africa

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