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POS Terminal Market Recent Industry Developments And Growth Strategies Adopted By Players

11-20-2017 05:36 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Transparency Market Research

/ PR Agency: Transparency Market Research
POS Terminal Market Recent Industry Developments And Growth

Transparency Market Research’s new report on the global Point-Of-Sale (POS) Terminal Market observes the scenario in the market to be fragmented yet intensely competitive. The competition is expected to further intensify with aspiring players, especially software vendors seeking entry into the market.

Ingenico S.A., PAX Technology Limited, NEC Corporation, , VeriFone Systems Inc., MICROS Systems Inc., Cisco Systems Inc., Hewlett-Packard Company, Toshiba Corporation, Panasonic Corporation, Samsung Electronics Co. Ltd., and NCR Corporation were the key vendors for POS terminal services in 2016.

The global market for POS terminal stood at US$54.68 bn in 2016 vis-à-vis revenue and is poised to expand at a CAGR of 11.5% between 2017 and 2025.

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Early Implementation of Technology Pushes North America to Top Position

The application segments of POS terminal market are restaurant, hospitality-lodging, grocery/supermarket, warehouse/distribution, healthcare, retail, field service, and government. Retail, among them, accounted for the leading market share in 2016. This is mainly because of ease of fast processing of bills, data backup, maintenance of customer database, inventory management, and management of customer loyalty programs.

North America, at present, dominates the global POS terminal market in terms of revenue contribution. In 2016, the region held a significant 30% share of the overall market. This is due to significant use of POS terminal across the retail and entertainment sectors and early implementation of technology.

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Demand for Enhanced Services from Savvy Consumers Boosts Market Growth

Some of the key growth drivers in the global POS terminal market is the high acceptance of POS terminal across the hospitality, retail, warehouse/distribution, and healthcare sectors due to ease of use and high return on investment. POS terminal have an array of use, which include printing bills, making payments, inventory management, and carrying out customer loyalty programs.

The rapid growth of the retail and hospitality sectors in developing economies have had a profound impact on the growth of POS terminal market. Small and medium sized retailers and quick service restaurants in the emerging economies of China and India are increasingly adopting POS solutions for enhanced customer experience. With the entry of retail giants such as Wal-Mart to emerging economies, the demand for POS solutions is further expected to rise. Therefore, Asia Pacific is expected to display significant growth with the leading CAGR over the forecast period.

Browse Our Table of Content @ https://www.transparencymarketresearch.com/report-toc/458

The growth of the market is further supplemented with the rising adoption of mobile POS in retail and hospitality sectors as they are more systematic and allow prompt processing of credit. Further, it offers ease of use, as any tablet or mobile can be remodeled into mobile POS by simply fastening a reader to it. Thus, mobile POS terminal are expected to experience high growth over the coming years.

Furthermore, advancements in POS terminal systems, in recent years, such as real time analytics features is working in favor of the growth of the market. Last but not the least, compliance requirements such as Europay, Mastercard, and Visa (EMV) are driving the growth of POS terminal market as they are ensure enhanced security of payments.

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR Syndicated Research report covers a different sector – such as pharmaceuticals, chemical, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, our syndicated reports thrive to provide clients to serve their overall research requirement.

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