POS Terminals Market Focuses On Top Manufacturers - Ingenico, MICROS Systems, NCR Corporation, NEC Corporation, Verifone, Wincor Nixdorf, Cisco, Squirrel Systems

POS Terminals Market size will exceed USD 125 billion by 2024. 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 key players covered in this study: - Bitel Limited, Fujian Newland Computer Co., Ltd, Ingenico Group, MICROS Systems Inc, NCR Corporation, NEC Corporation, PAX Technology, Shenzhen Xinguodu Technology Co., Ltd, Squirrel Systems, Verifone, Wincor Nixdorf, Hewlett-Packard Company, Touch Dynamic, Squirrel Systems, Samsung Electronics, POSIFLEX , PAR Technology Corporation, Panasonic Corporation, Castles Technology Co., Ltd., Cisco

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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.

Companies operating in the point of sale terminals market are engaged in developing innovative software solutions that can be incorporated into these systems to support several business tasks such as order management, sales tracking, managing staff accounts, and accounting & bookkeeping, among others. The software installed in these systems helps to control and operate hardware devices and other peripherals. Several major players are offering such advanced solutions to their customers for improving their business operations and enhancing their sales & productivity.

The restaurant point of sale terminals market 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.

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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 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 Europe POS terminals market is witnessing a high growth due to the adoption of several government regulations that are developed to support the advanced technologies for enhancing the security of the transactions & customer details. For instance, security guidelines are being developed for the adoption of EMV-enabled transaction processing in the industries. The companies installing such technologies need to follow guidelines that are developed by the regulatory bodies.

Key players in the point of sale terminals market are Diebold Nixdorf, Toshiba Corporation, NEC Corporation, Panasonic Corporation, VeriFone Systems, Inc., NCR Corporation, Micros Systems, Inc., Ingenico Group, BITEL Co., PAR Technology Corporation, PAX Technology, Inc., and POSIFLEX Technology, among others.

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