Point-Of-Sale Terminal Market 2020 – Market Trends and Forecast to 2027|Top Companies are Ingenico (France), CITIXSYS AMERICAS (US), Verifone (US), Squirrel Systems (Canada) and BBPOS (Hong Kong)

Market Overview

The international market for point-of-sale terminals was estimated at USD 75.08 billion in 2020, and it is expected to increase at a compound yearly growth rate (CAGR) of 6.9% between 2021 and 2028. Even though the COVID-19 epidemic resulted in a drop in overall market growth due to supply chain interruption and end-user revenue loss, the requirement for mobile point-of-sale (POS) terminals to support contactless payment was recognized. Product adoption has been helped by the requirement for cashless and contactless payments and the requirement for personnel and, inventory tracking, customer management plus online and also in sale unification. The adoption of the product to maintain track of business activities and allow the digital transformation has driven cashless payment throughout retail, healthcare, hospitality, and other sectors. The growing popularity of smartphones has boosted demand for compact point-of-sale terminal market, boosting the market growth.

Over the years, the software and hardware of the POS system have been developed and modified to ensure secure transactions and portability. To safeguard payment gateways, POS suppliers have expanded their expenditures in end-to-end encryption technology, which will help to create customer trust and drive product demand. Furthermore, multipurpose software connected with a POS system would provide the end-user with consumer data analysis, secure payment, and employee information storage. The product's capacity to operate as an effective employee management tool for monitoring employee productivity and generating a pleased staff has further boosted demand.

Get Free Sample Copy of Report @ https://www.marketresearchfuture.com/sample_request/5635

Market Segmentation

The development of the point of sale (PoS) terminal market is determined by the performance of the following market segments:

By component

This segment handles the POS software, hardware, and services.

By type

mPOS, portable countertop, smart POS, and PIN Pad are among the kinds of point of sale terminals available, as are smart mobile dongles and micro POS.

By industry

The home delivery and service delivery sector, medical and hospitality, retail, taxi and transportation, entertainment, sports, and media sectors all make up the industry component of the point of sale terminal market.

Regional Classification

Over the projection period, Asia Pacific is anticipated to be the fastest-growing regional market. Furthermore, government measures to promote a cashless economy are driving increased demand for POS terminals in this area.

In 2020, North America was the second-largest market sector, and from 2021 to 2028, it will grow at a steady CAGR. Product demand in the area has been driven by the expanding variety of payment technologies, like NFC and contactless payments. Wal-Mart, The Home Depot, Target, Costco Wholesale Corporation, The Kroger Co, and Amazon are a few of the large retail brands in the United States that rely on POS terminals to manage payment, billing, personnel duty, and inventory regularly.

Industry News

From transaction-oriented terminals/devices to systems that can interact with a company's CRM as well as other financial solutions, POS terminal systems have progressed. End-users have gained business intelligence due to this evolution, allowing them to handle their revenue streams and inventory better. The benefits of POS systems include reliable transactions, lower operating costs, plus real-time inventory. Businesses have replaced old billing software with POS systems due to the functional benefits provided by modern POS systems, ensuring the POS system market's development.

Get Complete Report @ https://www.marketresearchfuture.com/reports/point-of-sale-terminal-market-5635

Point Of Sale (Pos) Terminal Market Research Report, By Component (Hardware, Software, And Services), By Product Type (Fixed And Wireless), By Deployment (On-Cloud And On-Premises), And By End-User - Forecast Till 2027

Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com

Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.

Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.

This release was published on openPR.