POS Terminals Market - Growing Popularity and Emerging Trends in the Market | Ingenico Group, MICROS Systems Inc, NCR Corporation, NEC Corporation, PAX Technology, Squirrel Systems, Verifone, Wincor Nixdorf

(Point of Sale) POS Terminals Market 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 manufacturers are developing inventory management solutions that perform several functions such as instant automated stock control, intelligent ordering, multichannel management, and flexible customer service.

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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. For instance, in April 2018, ParTech, Inc. announced the launch of PAR Pay, which is an EMV-enabled payment solution.

The key players covered in this study: -
1. Bitel Limited
2. Fujian Newland Computer Co., Ltd
3. Ingenico Group
4. MICROS Systems Inc
5. NCR Corporation
6. NEC Corporation
7. PAX Technology
8. Shenzhen Xinguodu Technology Co., Ltd
9. Squirrel Systems
10. Verifone
11. Wincor Nixdorf
12. Hewlett-Packard Company
13. Touch Dynamic
14. Squirrel Systems
15. Samsung Electronics
16. POSIFLEX
17. PAR Technology Corporation
18. Panasonic Corporation
19. Castles Technology Co., Ltd.
20. 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.

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.

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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. The adoption of such terminals is increasingly being witnessed across several restaurants as they are cheaper and more user-friendly, thereby driving the market demand.

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.

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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.

POS terminals market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipments in Units from 2013 to 2024, for the following segments:

Point of Sale Terminals Market, By Product
o Fixed POS terminals
o Mobile POS terminals

Point of Sale Terminals Market, By Component
o Hardware
o Software
o Service

Point of Sale Terminals Market, By Technology
o Biometric
o Traditional

Point of Sale Terminals Market, By Operating System
o Windows
o Linux
o Mac

Browse Related Report: - 18% Growth for Mobile POS (mPOS) Terminals Market by 2024, Global Revenue to Hit $55bn
https://www.marketwatch.com/press-release/18-growth-for-mobile-pos-mpos-terminals-market-by-2024-global-revenue-to-hit-55bn-2019-02-15

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