Scope of the Report
The report titled “Global Point of Sale (POS) Terminal Market: Size, Trends & Forecasts (2019 Edition)”, provides an in-depth analysis of the global POS terminals market by value, by shipment and by installed base. The report also gives an insight of the global POS terminals market by applicability, by products, by components, by region, etc.
The report also includes the analysis of the global software POS market, global hardware POS market. The report provides a regional analysis of the POS terminal market, including the following regions: North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry.
Growth of the overall global POS terminals market has also been forecasted for the period 2019-2023, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The competition in the global POS terminal market is dominated by the two big players, Ingenico and Verifone. Further, key players of the POS terminal market Ingenico, Verifone, Toshiba Tech Corp and PAX Global are also profiled with their financial information and respective business strategies.
- North America
- Latin America
- Middle East and Africa
- Ingenico Group
- Verifone Systems Inc.
- Toshiba TEC Corporation
- PAX Global Technology Limited
Point of sale (POS) refers to capturing of data related to customer payment information when goods and services are bought and sold at any physical location or on online platform. POS transaction can be captured using a variety of devices via computer, barcode and optical scanner, magnetic card readers or any combination of such devices. Point of sale (POS) terminals market has gained significant momentum in recent years due to the ease of use, enhancing customer experience and improved return on investment being offered by these systems.
Point of sale has applicability in millions of retail business, education, supermarkets, hospitality businesses, healthcare, etc. The major functions of POS Terminals are: calculate cash due for every value entered, keep track of cash in the cash drawer, calculate labor and payroll data, record information on repeat customers, record daily check averages for every worker, etc.
The POS terminals market can be segmented according to the components, into hardware POS terminals and software POS terminals. The POS terminal market can also be segmented according to the product type, into fixed POS terminals and wireless/mobile POS terminals. The POS Terminal market could also be segmented on the basis of technology into NFC enabled POS terminals and non-NFC enabled POS terminals.
The global POS terminal market has increased at a significant CAGR during the years 2014-2018 and projections are made that the market would rise in the next four years i.e. 2019-2023 tremendously. The POS terminal market is expected to increase due to rising e-commerce sales, growing adoption of smartphones, technological upgradation, rising number of electronic payment transactions, adoption of cloud technology etc. Yet the market faces some challenges such as, non compliance to PCI, low POS terminal penetration rate in ASEAN countries, and selection of wrong POS.