San
Francisco, 03 December 2018, The global point-of-sale(POS) terminals market size is expected to reach
USD 116.06 billion by 2025, according to a new report by Grand View Research,
Inc., exhibiting a 9.9% CAGR during the forecast period. Surge in demand for
affordable wireless technologies and increasing demand for mobile POS terminals
is anticipated to drive the overall market for POS terminals over the forecast
period.
Introduction of chip-embedded
payment cards and Personal Identification Number (PIN) has minimized security
concerns relating to sensitive data theft, which is projected to drive the POS
industry over the forecast period. Ubiquitous wireless connectivity, including
Bluetooth, combined with availability of peripheral devices, card readers,
scanners, mobile printers, and multiple platform support, is projected to drive
demand over the forecast period.
In November 2016, the Indian
government demonetized its economy by banning higher currency notes. It also
launched the “Digital India” initiative in order to promote cashless economy
and online transactions. Such changes have significantly boosted demand for POS
terminals in India. Indian banks are trying to gain advantage of this
demonetization by deploying large number of POS terminals in the market and
providing schemes and discounts to customers in order to promote use of POS for
transactions. Indian banks have surpassed the target of 1 million POS terminals
post demonetization, thus supporting market growth.
There is a significant surge in
demand for mPOS terminals owing to their portability and lower cost, which
decreases retailers’ cost of operation and provides better reliability. These
systems are now available in ultra-portable forms as well, wherein POS
terminals of the size of a credit card are available in the market. Moreover,
rapidly gaining popularity among end users who use their existing tablet/system
as POS terminals through specialized software for their business is anticipated
to fuel demand over the forecast period. These software help reduce operational
cost of retailers by eliminating need to install separate hardware systems and
fulfilling all the necessary needs of retailers from a POS terminal.
Cloud-based POS terminals are
gaining traction mainly due to easy operation and data security that these
terminals offer. Many companies are developing SaaS-based systems such as
Toast, Touchbistro, and Springboard Retail in order to provide better user
interface and functionality to end users.
These terminals have a range of
applications, including inventory management, printing bills, payments, and
carrying out loyalty programs, thus leading to increasing adoption across
various end-use verticals. They offer efficient flow control, coupled with
customer satisfaction, which is expected to favorably impact consumption.
Access Full Research
Report On Point-Of-Sale (POS) Terminals Market Analysis:
Further key findings from the report suggest:
·
The global POS terminals market
accounted for USD 47.95 billion in 2016 and is expected to expand at a CAGR of
9.9% from 2017 to 2025
·
Fixed POS emerged as the
largest product segment in 2016 whereas mobile POS systems are projected to
register a higher growth rate over the forecast period
·
The POS terminals services
segment is anticipated to witness the highest growth at a CAGR of 11.4% between
2017 and 2025
·
North America held the largest
share in the POS terminals market in 2016. On the other hand, government
initiatives in countries such as India are expected to boost the market in Asia
Pacific
·
Key players in the market
include VeriFone Systems Inc.; Cisco Systems Inc.; Ingenico Group; and
Hewlett-Packard Inc.
Browse More Reports Of This Category By
Grand View Research At: www.grandviewresearch.com/industry/communications-infrastructure-systems-and-software
Grand View Research has segmented the
global POS terminals market on the basis product, component, deployment,
service, application, and region:
POS Terminals Product Outlook
(Revenue, USD Billion, 2014 - 2025)
·
Fixed
·
Mobile
POS Terminals Component Outlook
(Revenue, USD Billion, 2014 - 2025)
·
Hardware
·
Software
·
Services
POS Terminals Deployment
Outlook (Revenue, USD Billion, 2014 - 2025)
·
Cloud
·
On-premise
POS Terminals Services Outlook
(Revenue, USD Billion, 2014 - 2025)
·
Managed Services
·
Repair and Maintenance services
·
Professional Services
POS Terminals Application
Outlook (Revenue, USD Billion, 2014 - 2025)
·
Restaurants
·
Hospitality
·
Healthcare
·
Retail
·
Warehouse
·
Entertainment
·
Others
Point-of-Sale (POS) Terminals
Regional Outlook (Revenue, USD Billion, 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
U.K.
·
Asia Pacific
o
China
o
Japan
o
South Korea
·
Latin America
o
Brazil
o
Mexico
·
Middle East & Africa
Access Full Press Release of this Report:
www.grandviewresearch.com/press-release/global-point-of-sale-terminals-market
www.grandviewresearch.com/press-release/global-point-of-sale-terminals-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information: www.grandviewresearch.com/
