Point-of-Sale Terminals Market Introduction
Over the past decades, point-of-sale terminal (POS terminals) or in-store systems have gained huge adoption among organizations operating across various verticals. This is majorly attributed to various benefits such as fast processing, high efficacy, and security offered by POS terminals over conventional cash registers technique. In retail and hospitality sectors, POS terminal has become one of the key components of business management process and comprehensive sales and accounting system. POS terminal is a connected electronic device that incorporates application-specific software that enables the user to process card payments such as debit cards and credit cards at purchase point. These systems can connect to other systems in the network and has the ability to track & record customer’s order and manage inventory. POS terminals find applications in various industries such as lodging, museums, and restaurants.
In the recent past, portable POS terminals in various industries have witnessed increased adoption owing to growing focus of end-users to enhance overall customer services. Further, cost of ownership of POS terminals is low as compared to conventional payment modes. This, in turn, is accelerating the growth of POS terminals market across the globe. However, increasing data breaches concerns and lack of awareness are some of the major constraints to the market growth.
The global point-of-sale terminals market has been segmented into and components, type, and end user. Based on components, the POS terminals market includes software and hardware segments. Based on type, wireless & mobile POS terminals and fixed POS terminals. By end user, the POS terminals market is bifurcated into healthcare, warehouse/distribution, restaurant, retail, entertainment, hospitality (lodging), and other segments.
The global PoS market covers major regions such as North America, Latin America, Asia Pacific (APAC), Latin America, and Middle East & Africa (MEA). in 2014, North America was the largest regional market in terms of adoption of POS terminals. This is mainly attributed to increase in a number of card-based transactions in the region. Also, the PoS market in Asia Pacific is projected to expand at a significant CAGR from 2017 to 2023 owing to changing consumer lifestyle.
Point-of-Sale Terminals Market Competitive Landscape
Key players operating in the POS terminals market are Samsung Electronics Co., Ltd., NEC Corporation, MICROS Systems, Inc, PAX Technology Limited, Ingenico S.A, Cisco Systems, Inc., Toshiba Corporation, VeriFone Systems, Inc., Hewlett-Packard Company and Panasonic Corporation. These players focus on entering into strategic partnership with other major vendors to gain the competitive advantage in the market.
Major Regions/Countries include:
- North America
- Western Europe
- United Kingdom
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific (APAC)
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa (MEA)
- North Africa
- South Africa
- Rest of MEA
This research report on point-of-sale terminals market would be produced using first-hand market information gathered from industry experts and major participants across the value chain, during primary research. It would provide broad view of current market trends, growth factors and competitive analysis.