What’s Driving the POS Terminals Market Growth? | Key Companies are Ingenico Group, MICROS Systems Inc, NCR Corporation, NEC Corporation, Squirrel Systems, Toshiba, Verifone, Wincor Nixdorf, Touch Dynamic, Castles Technology Co., Ltd.
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Increasing government regulations and policies to provide a secured platform for the safety of transactions and customer details is driving the POS terminals market growth. Regulatory bodies instruct banks and platform providers to adopt several guidelines framed by the government to reduce the chances of fraud, data breach, and losses. For instance, the Payment Card Industry Data Security Standard (PCI DSS) is one such organization that was developed to increase the control over cardholders’ data for reducing credit card frauds. Such factors are encouraging developers in the POS terminals market to incorporate several advanced technologies that will ensure that the customer & organizational data is secured.
The key players covered in this study: -
1. MICROS Systems Inc
2. NCR Corporation
3. NEC Corporation
4. PAX Technology
5. Squirrel Systems
8. Wincor Nixdorf
9. Hewlett-Packard Company
10. Touch Dynamic
11. Squirrel Systems
12. Samsung Electronics
14. PAR Technology Corporation
15. Panasonic Corporation
16. Castles Technology Co., Ltd.
Some Points From Table of Content: -
Chapter 3. POS Terminals Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.2.1. Payment industry landscape
3.3. Industry ecosystem analysis
3.3.1. Component suppliers
3.3.3. Distribution channel analysis
3.3.4. Vendor matrix
3.4. Technology & innovation landscape
3.4.1. Biometric recognition technology
3.4.2. Countertop POS
3.4.3. Wireless POS terminals
184.108.40.206. Benefits of a wireless POS system
3.4.4. Connected vs standalone POS terminals
3.4.5. Internet of Things (IoT) technology
3.4.6. Smart card/EMV chip card
3.4.7. Near Field Communication (NFC)
3.5. Regulatory landscape
3.5.1. EMV mandate
3.5.2. PCI DSS
3.5.3. Electronic Fund Transfer Act (EFTA)
3.5.4. European Payment Council (EPC)
3.6. Industry impact forces
3.6.1. Growth drivers
220.127.116.11. Penetration of EMV cards in the U.S.
18.104.22.168. Surge in NFC/contactless payment in the UK
22.214.171.124. Stringent government regulations in Europe
126.96.36.199. Demonetization effect in India
188.8.131.52. Rising inclination towards online payments in China
184.108.40.206. Proliferation of RFID tagging in Japan
220.127.116.11. Infrastructure development in South America
18.104.22.168. Rising mobile POS terminal demand in Brazil
22.214.171.124. Flourishing retail industry vertical in the UAE
3.6.2. Industry pitfalls & challenges
126.96.36.199. Lack of reliable and advanced infrastructure
188.8.131.52. High security risks
3.9. Competitive landscape, 2017
3.9.1. Company market share analysis, by application
The retail sector is the most flourishing industry in the POS terminals market, which is experiencing a high adoption rate of devices. Several retail companies such as Walmart, Costco, Kroger, and Tesco are engaged in incorporating smart solutions in their outlets to attract customers and improve their shopping experiences. Moreover, the retail companies are modifying their traditional technologies and transforming their stores through automation, which is expected to propel the POS terminals market growth. The incorporation of the POS systems in several advanced machines such as self-checkout systems and smart-vending machines is the major factor driving the automated retail store concept.
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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.
Windows-based devices are witnessing a high adoption in the POS terminals market due to the high compatibility and efficiency of this software platform for operating & managing hardware devices. Moreover, increased user-friendly features are allowing industries to install several applications & devices in their systems, which is a major factor for the high adoption rate of such operating systems. It allows companies to customize their systems based on business operations. Most manufacturers in the POS terminals market are offering Windows devices to provide user-friendly solutions to industries.
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