Retail POS Terminals Market to Experience Significant Growth from Asia Pacific |Cisco, Epicor Software, Hewlett Packard Enterprise, Ingenico Group, MICROS Systems Inc, NCR Corporation, Panasonic, PAX Technology, Toshiba, Verifone

The Asia Pacific region is expected to witness high growth in the retail POS terminals market owing to the evolution of retail sector in countries such as India and China. The demonetization effect in India has caused the customers towards cashless transactions and the convenience offered by it. The manufacturers in the region are actively focusing on launching devices QR Code enabled which will further escalate the demand.

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Retail POS terminals market, often claimed as one of the fasting growing business spaces of recent times, is highly driven by the digital influence in the financial sector. Over the recent years, cashless mode of payment has observed a tremendous surge, a factor that has massively proliferated the demand for adequate acceptance infrastructure like POS terminals. According to the Federal Reserve Payment Study of 2016- the number of non-cash transaction in U.S. including credit card, debit card, check payments, and ACH has crossed almost 144 billion in 2015, having a valuation of over USD 178 trillion.

The mPOS terminal segment is projected to grow significantly in the retail POS terminals market over the coming years owing to the ability of provide secure transactions in out-of-store environments. It is widely used in tradeshows, events and flea markets to enable the rapid movement of the customers through the checkout lines.

The key players covered in this study: -
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

Retail POS Terminals Market, By Product
• Fixed retail POS Terminals
• Mobile retail POS Terminals

Retail POS Terminals Market, By Component
• Hardware
• Software
• Services
• Professional Service
• Support & Maintenance
• Training

Retail POS Terminals Market, By Application
• Department stores
• Supermarkets/Hypermarkets
• Warehouse
• Convenience stores
• Discount stores
• Specialty stores
• Others

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The software component is anticipated to witness growth opportunities in the retail POS terminals market due to the advantages offered by them in terms of monitoring the consumer behavior and their buying trends. These functionalities help the retailers in enhancing the customer experience and boost sales. In addition, integration of technologies such as IoT protect customers from fraudulent transactions.

The retail sector is getting more organized across the world, which will provide impetus for the hypermarkets and supermarkets segment growth over the next few years. This is due to the development of customized POS terminals by the vendors to offer real time dashboard options, user profiles for different users. Such functionalities enable the clients to streamline the workflow, thereby boosting sales and profits. This will provide growth opportunities to the retail POS terminals market.

It is imperative to mention here that a considerable economic upliftment across major economies is phenomenally complementing the business opportunity. Given that expanding application horizon of POS systems across retail vertical, retail POS terminals market size, according to Global Market Insights, Inc., is slated to record a valuation of USD 40 billion by 2024.

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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Email: sales@gminsights.com

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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