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Retail POS Terminals Market Is Booming Worldwide| Global Overview by Leading Companies – Cisco, Epicor Software, Ingenico Group, MICROS Systems Inc, NCR Corporation, Panasonic, Samsung Electronics, Toshiba, Verifone

Retail POS Terminals Market

Retail POS Terminals Market

Retail POS Terminals Market is projected to be worth over USD 40 billion by 2024. 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.

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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.

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The major players operating in the Retail POS Terminals Market –

1. Cisco
2. Epicor Software
3. Hewlett Packard Enterprise
4. Ingenico Group
5. MICROS Systems Inc
6. NCR Corporation
7. Panasonic
8. PAX Technology
9. Samsung Electronics
10. Toshiba
11. Verifone

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.

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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.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688

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