Press release
Retail (Point of Sale) POS Terminals Market Technology Growth, Application over Globe and Key Players Like Toshiba Corporation, Samsung Electronics Co., Ltd., VeriFone Systems Inc., Ingenico Group, NCR Corporation, Panasonic Corporation, PAX Technology In
Intense competition between players has led to business owners improving their facilities and technologies such as the integration of mPOS terminals. These allow an increase in interactions, elimination of excessive waiting times, and insights into the customer buying profile. mPOS terminals lower the amount of space taken up by regular cash wraps and counters. A substantial amount of occupied counter space can be utilized to expand the store's inventory and display or to improve the customer comfort. Various retailers such as Apple and Home Depot have recognized the benefits of mPOS and have integrated them into their business operations and is anticipated to drive the retail POS terminals market.
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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.
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.
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
The above information is provided on a regional basis for the following:
North America
Asia-Pacific
Europe
Central & South America
Middle East & Africa
Report 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
3.6 Regulatory landscape
3.6.1 National Payments Corporation of India (NPCI)
3.6.2 Electronic Communications Privacy Act (EPA) and Consumer fraud and Abuse Act (CFAA)
3.6.3 European Payment Council(EPC)
3.6.4 Electronic Fund Transfer Act (EFTA)
3.6.5 EMC mandate
3.6.6 European Union Data Protection Directive
3.7 Industry impact forces
3.7.1 Growth drivers
3.7.1.1 Increase in cashless transactions in Asia Pacific and Europe
3.7.1.2 Emerging demand for mobile POS terminals (mPOS) in Europe
3.7.1.3 Increasing penetration across several retail channels in the U.S.
3.7.1.4 Demand for cloud-based systems in North America
3.7.1.5 Migration to EMV cards in the U.S and Asia Pacific
3.7.1.6 Rising trend of self-checkout technology in North America and Europe
3.7.1.7 Demonetization effect in India
3.7.2 Industry pitfalls and challenges
3.7.2.1 Need for data security
3.7.2.2 Costly software upgrades
3.8 Growth potential analysis
3.9 Cashless transactions & debit card base
3.9.1 Global market
3.9.2 North America
3.9.3 Latin America
3.9.4 Europe
3.9.5 Asia Pacific
3.10 Porter's analysis
3.11 Competitive landscape and strategic dashboard
3.12 PESTEL analysis
Chapter 4 Retail POS Terminals Market, By Product
4.1 Retail POS terminals market share by product, 2016 & 2024
4.2 Fixed retail POS Terminals
4.2.1 Global fixed retail POS terminals market, 2013 - 2024
4.2.2 Global fixed retail POS terminals market, by region, 2013 - 2024
4.3 Mobile retail POS Terminals
4.3.1 Global mobile POS terminals market, 2013 - 2024
4.3.2 Global mobile POS terminals market, by region, 2013 - 2024
Chapter 5 Retail POS Terminals Market, By Component
5.1 Retail POS terminals market share by component, 2016 & 2024
5.2 Hardware
5.2.1 Global POS hardware market, 2013 - 2024
5.2.2 Global POS hardware market, by region, 2013 - 2024
5.3 Software
5.3.1 Global POS software market, 2013 - 2024
5.3.2 Global POS software market, by region, 2013 - 2024
5.4 Services
5.4.1 Global POS services market, 2013 - 2024
5.4.2 Global POS services market, by region, 2013 - 2024
5.4.3 Professional services
5.4.3.1 Global professional services market, 2013 - 2024
5.4.3.2 Global professional services market, by region, 2013 - 2024
5.4.4 Support & maintenance
5.4.3.1 Global support & maintenance services market, 2013 - 2024
5.4.3.2 Global support & maintenance services market, by region, 2013 - 2024
5.4.5 Training
5.4.3.1 Global training services market, 2013 - 2024
5.4.3.2 Global training services market, by region, 2013 - 2024
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