Global Point of Sale Terminal Market Forecast: $ 109 Billion Market by 2027 – ResearchAndMarkets.com
DUBLIN – (COMMERCIAL THREAD)–The “Point of Sale Terminal Market, Forecast, Impact of COVID-19, Industry Trends, by Application, Growth, Opportunity Business Analysis” report was added to ResearchAndMarkets.com offer.
Around the world, the rapid growth of digital technology in recent years has extended the point of sale terminal from a simple sales portal to complete payment processing systems that have become an integral part of the package. business operations. A point of sale terminal is software and computer hardware that handles the transaction by selling a product or service. It helps to capture, share, store and report data related to the sales transaction. It facilitates the shopping experience and serves to speed up the payment process, resulting in customer satisfaction.
Additionally, growing financial frauds around the world have demanded point-of-sale terminals. The government’s adoption supported the vision to achieve a cashless economy around the world, through the hassle-free payment option, cashless online payment and reduced waiting time in queues. waiting. With the evolution of debit card technologies, contactless payment has become famous for making a quick purchase without entering a PIN code; POS has seen an increase in adoption rates. The point-of-sale terminal market will reach $ 109.27 billion by 2027.
Based on applications: The point of sale terminal is segmented into fixed and mobile. Fixed systems hold the largest market share; large-scale suppliers prefer it mainly because of the high procurement and installation costs. With increasing mobility trends across the world, mobile point-of-sale terminal systems are gaining ground. These terminals facilitate payments while avoiding lost sales due to delays at peak times and help improve customer satisfaction. According to this report, the POS terminal industry will grow with a CAGR of 10.15% from 2020 to 2027.
Point of sale terminal systems facilitate transactions from the central component of enterprises to manage inventory and payments in large end user industries. Such as restaurants, healthcare, retail, hospitality, warehouses, distribution and entertainment. Point of sale systems are ubiquitous in the retail world for their tremendous benefits. An in-store point-of-sale terminal system is essential as contactless payments have become popular among consumers who prefer contactless card payments. The healthcare industry is driven by the growing need to manage patient information, streamline the payment process and track employee statistics.
Regional Analysis Of Point Of Sale Industry: North America has seen notable growth in the point of sale terminal industry. With the increase in cloud-based applications and the replacement of machine resident programs with configurable multifunctional hybrid point-of-sale systems, such as POS-n-go, the business needs of branded points of sale have been met. American retailers, such as Wal-Mart, Costco Wholesale Corporation, etc. In addition, the rise of digital payment technologies in the Asia-Pacific region has created a pool of opportunities for points of sale in countries such as China, Japan and India. According to this report, the POS terminal market size was $ 55.53 billion in 2020.
Impact of COVID-19 on the POS terminal industry: The novel coronavirus outbreak has negatively impacted global manufacturing, demand, and supply chain activities. This pandemic has completely disrupted the market for industries such as hospitality, tourism, catering and entertainment. While the point-of-sale market of healthcare, retail and warehouse segment has grown. Overall, however, 2020 has not been a very pleasant year for the point-of-sale industry. But the future looks very bright, with double-digit CAGR growth from 2020 to 2027.
Performance of point of sale companies: The POS terminal market is highly fragmented with a high number of players such as NCR Corporation, Ingenico Group (acquired by Worldline), Fujian Newland Payment Technology Co. Ltd., Diebold Nixdorf, Inc. and PAX Technology, Inc For example – In 2020, Ingenico combined Apple Pay Support for loyalty programs to encourage consumer engagement with merchants.
Main topics covered:
2. Research methodology
3. Executive summary
4. Market dynamics
4.1 Growth drivers
5. Point of sale terminal market
6. Market share – Point of sale terminal market
6.1 By application
6.2 By component
6.3 By the end user
6.4 By region
7. Application – Point of Sale Terminal Market
8. Component – Point of Sale Terminal Market
9. End user – Point of sale terminal market
9.3 Health care
9.5 Warehouse / Distribution
10. Region – Point of Sale Terminal Market
11. Business analysis
Ingenico Group (acquired by Worldline)
Fujian Newland Payment Technology Co. Ltd.
Diebold Nixdorf, Inc.
PAX Technology, Inc.
For more information on this report, visit https://www.researchandmarkets.com/r/vh5a6x
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