Press release
POS Terminals Market Is Booming Globally | Ingenico Group, MICROS Systems Inc, NCR Corporation, NEC Corporation, Verifone, Wincor Nixdorf, Cisco, Samsung Electronics, Hewlett-Packard Company, Toshiba
POS Terminals Market
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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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 major manufacturers covered in this report: -
• 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
• Toshiba
• Verifone
• Wincor Nixdorf
• Hewlett-Packard Company
• Touch Dynamic
• Squirrel Systems
• Samsung Electronics
• POSIFLEX
• PAR Technology Corporation
• Panasonic Corporation
• Castles Technology Co., Ltd.
• Cisco
In 2017, fixed terminals accounted for around 75% of the overall shipments in POS terminals market and are witnessing a high adoption. These terminals process payments using PIN and chip and are also equipped for swipe and sign payments. A high adoption of these systems in brick & mortar retail outlets and restaurants to serve customers effectively is providing an impetus to the market growth. Moreover, the manufacturers are integrating several advanced solutions into these systems such as EMV card reader, barcode scanner, and RFID reader, to enhance the features and functionality of terminals.
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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.
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 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. Moreover, the strong presence of major players, which are engaged in offering innovative solutions to the customers is a major factor accelerating the market growth.
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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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