POS Terminals Market in Windows-Based Devices are Expected to Grow Exponentially Over 2018 – 2024 | Leading Players are Epicor Software, Ingenico Group, MICROS Systems, NCR Corporation, NEC Corporation, Panasonic, Retail Pro International, Toshiba
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The increasing adoption of mobile terminals for improving the flexibility and efficiency of payment techniques is a major factor accelerating the POS terminals market growth. The devices offer mobile connectivity and allow store owners to carry such devices closer to the customer locations. Moreover, the rising adoption of the cashless payment techniques among consumers provides a great opportunity for industries to allow their customers to select this flexible mode of payment, thereby improving their satisfaction levels. Extensive adoption of such devices in several application areas including restaurants, hotels, resorts, and food delivery & retail outlets are providing an impetus to the POS terminals market growth.
Key Market Competitors:
2. CitiXsys - iVend Retail
4. Epicor Software
5. Ingenico Group
6. JDA Software
7. LS Retail - POS and business management software solutions
8. MICROS Systems Inc
9. NCR Corporation
10. NEC Corporation
12. Retail Pro International, LLC
13. Squirrel Systems
16. Wincor Nixdorf
Biometrics is an advanced technology in the POS terminals market, which is projected to witness high adoption over the coming years. A rise in cybercrimes and concern for data theft will encourage industries to adopt biometric terminals for business operations. The U.S. reported that data breaches and cybercrimes in the country are growing rapidly year-by-year. Such factors are encouraging U.S. POS terminals market developers to integrate such modern technologies in their offerings to improve the safety of organizational data. Fingerprint scanning devices are the most widely accepted technology in the POS terminals market owing to ease in the authentication of customer details.
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Europe is likely to emerge as one of the most popular regional markets for the POS terminals industry, owing to the massive adoption of government regulations mandated to support advanced technologies that serve to improve transaction and customer security. Say for example, lately, security guidelines have been developed to encourage the adoption of EMV-enabled transaction processing across industries.
The same year also witnessed NEXTEP SYSTEMS, a provider of self-order POS services, form a strategic alliance with LevelUp, the largest mobile payment platform developed by Massachusetts-based startup firm SCVNGR. The alliance will enhance the service efficiency of both the firms by offering more effective and user-friendly online payment options. Speedy self and mobile ordering operations, ensuring a seamless and personalized experience for the users are expected to spur the business expansion and ROI of both these firms, thereby providing a boost to POS terminals industry. Global Market Insights, Inc., claim POS terminals market share to surpass USD 125 billion by 2024.
POS terminals industry is an evolving business sector with big players investing heavily in R&D activities to develop new technologies and products for gaining competitive edge. It is more likely that rapid expansion of POS terminals market will encourage new service providers and manufacturers to enter the business further encouraging the existence of fierce competition in the industry. VeriFone Systems Inc., Panasonic Corporation, Ingenico Group, PAX Technology Inc., and Toshiba Corporation are some of the major brands of POS terminals industry.
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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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