POS Terminals Market: Development, Current Analysis and Estimated Forecast to 2025 | BBPOS, Cisco, Diebold Nixdorf, Ingenico Group, MICROS Systems Inc, NCR Corporation, Panasonic, Samsung Electronics, Square, Hewlett Packard Enterprise, Verifone

Biometric technology is expected to witness high growth in the POS terminals market owing to its ability to provide secure payment solutions and convenience to customers. Several financial organizations are widely adopting these terminals to strengthen security and reduce payment frauds. In addition, these systems help to make quick check-outs at cash counters and improve payment process in retail outlets. China, India, Japan, and the U.S. are experiencing high adoption of biometric POS devices owing to rapid technological advancements in the payment industry.

Increasing adoption of advanced payment solutions across various sectors, including retail, BFSI, healthcare, retail, etc. is likely to drive POS terminals market growth. These terminals allow customers to make payment transaction using debit or credit cards.

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POS (point-of-sale) terminals are computers that run software designed to facilitate necessary operations at the point of sale. Depending on the need, a setting may have one or more POS terminals. These terminals usually consist of a receipt printer, card swiper, and a cash drawer. They are all connected to a single server, which provides centralized database for collecting information about all the transactions in a setting.

Mobile POS terminals are increasingly gaining increased prominence in businesses worldwide. The product offers enhanced features like better user experience, ease in accessibility, flexibility and mobility. The hospitality sector is opting for mobile POS terminal to increase its ROI. Whereas retail stores are integrating tablet POS terminals to enable smoother and faster payment processing.

With security being a key parameter in business transactions, numerous financial businesses are adopting biometric technology-based POS terminals. These systems help make quicker check-outs at cash counters and streamline payment process across retail outlets. Countries like India, China, Japan and the U.S. are likely to accrue high produce demand given to the region's proliferating payment industry.

POS terminals are penetrating various industrial sectors, including retail, hospitality, warehousing & logistics industry, etc. Hospitality and retail sectors, in particular, are increasingly adopting these terminals due to requirement for customer analytics and enhanced ROI. Retail stores are also implementing tablet POS terminal as it saves installation costs and enables fast payment processing.

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Manufacturers in the POS terminals market are focused upon developing smart POS solutions as per the requirement of specific industries. For instance, a POS system for the retail industry has been developed by Ingenico Group. The POS system easily accepts all payment methods and helps retailers to increase conversion rate and enhance customer experience.

The key players contributing towards POS terminals market expansion include Panasonic Corporation, PAX Technology, Toshiba Corporation, NEC Corporation, NCR Corporation, POS Direct Ltd., VeriFone Systems, Inc., Ingenico Group, LS Retail, Diebold Nixdorf, Bucher Industries AG, Micros Systems, Inc., Cegid Group, Bitel Co., Cybernet and Epicor Software Corporation. These players are continuously launching differentiated and innovative products to sustain in the highly competitive market.

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