Press release
Retail POS Terminals Market in Support & maintenance services to witness 15% CAGR up to 2024
fractovia.org
According to Global Market Insights, Inc., “Retail POS terminals market size is forecast to exceed USD 45 billion by 2024.” Wide applications across department stores, category stores, convenience stores, warehouse, discount stores, supermarkets, specialty stores, and drugstores is expected to elevate retail POS terminals market growth over the next few years.
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Supermarket applications, which contributed nearly 35% of the global retail POS terminals market share in 2015, will experience substantial growth over the coming timeframe. Growing need to improve the consumer experience, ability to minimize manual error, and proper inventory & employee tracking are the major market growth drivers. Discount and convenience stores are also anticipated to boost the industry revenue over the coming years.
Mobile and Fixed POS terminals are the key products of retail POS terminals. Mobile POS terminals market size, worth USD 11.54 billion in 2015, is expected to witness a significant surge over the coming timeframe. Enhanced use of mobile instruments such as smartphones, iPhones, and tablets is expected to drive retail POS terminals industry size over the years to come. Fixed POS terminals industry, which dominated the overall revenue in 2015, is expected to witness a high growth over the next seven years.
Strict legislations to upgrade EMV terminals owing to growing security concerns is expected to accelerate North America retail POS terminals industry over the years to come. In addition to this, the presence of key industry players will also drive the regional growth. U.S. is expected to be a key regional revenue contributor.
Browse key industry insights spread across 170 pages with 128 market data tables & 99 figures & charts from the report “Retail (Point of Sale) POS Terminals Market Size By Product (Mobile, Fixed), By Services (Professional services, Support & Maintenance, Training), By Component (Software, Hardware), By Application (Department Store, Supermarket/Hypermarket, Warehouse, Convenience, Discount Store, Specialty Store, Drugstore, Category Store), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Mexico), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:
https://www.fractovia.org/news/industry-research-report/retail-point-of-sale-pos-terminals-market
APAC retail POS terminals market growth is projected to be influenced by high demand for mobile and digital payments. China and India are forecast to be major regional revenue drivers.
High demand for optimizing IT hardware and software across various firms is expected to positively impact the growth of the industry in Europe.
Market players will try to enhance their geographical presence by adopting key business strategies such as formation of strategic alliances and joint ventures. Major industry participants include Ingenico Group, VeriFone Holdings Inc., MICROS Systems, Hewlett-Packard, Samsung Electronics Limited, Toshiba Corporation, Cisco Systems, NEC Corporation, and Ingenico Group.
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