Point of Sale (POS) Terminals Market – Global Analysis by Latest Opportunities, Industry Share, Size, Regions, Revenue, Types, Applications & Forecast 2019-2025
Adroit Market Research launched a study titled, “Point-of-Sale (POS) Terminals Market—Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2019-2025,” In terms of revenue, POS terminal market is expected to register an impressive CAGR of around 17.1% during the assessment period.
Point of sale is the time and location where a transaction is completed. A POS system is computer hardware and software, that manages the transaction during the sale of a product or a service. It helps to store, capture, share, and report data related to the sales transaction. It eases the shopping experience and helps to expedite the checkout process, resulting in customer satisfaction. Inventory management, stock in hand, availability of a product, and pricing information are primary data that are acquired from the systems.
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With the presence of a large pool of participants, the Global point of sale (POS) terminals market is displaying a highly competitive business landscape, finds a new research report by Adroit Market Research. Hewlett-Packard Company, Toshiba Corporation, Samsung Electronics Company Ltd, and VeriFone Systems Incorporation are some of the key vendors of point of sale terminals across the world.
These players across point of sale (POS) terminals market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the point of sale (POS) terminals market study.
Global point of sale (POS) terminals market size is projected to be worth USD 28.27 billion by 2025 owing to increase in debit/credit card transactions worldwide and diminishing cash payments. Apart from higher costs, retailers are looking forward to reduce cash payments due to security reasons as well. Also, improvement of economic conditions and growing tech-savvy population have contributed to the growth of cashless payments systems such as the Point of Sale (POS) terminals market.
Spread of technology across various countries is seen over in recent years and have boosted the adoption of cashless payments which provide more convenience as compared to cash transactions. For instance, mobile POS terminals market has seen significant growth, wherein a card acceptance device can be connected to a smartphone or a tablet to perform the same function as a traditional wired POS device. Also, such IP-based terminals that connect to the internet open the doors for data analytics, inventory management, risk management and customer relationship management.
Point of Sale (POS) terminals market, especially the software, is expected to undergo major transformation in coming years due to proliferation of mobile devices, the transition of back-office applications to cloud and rapid changes in the consumer behaviour. Many emerging players in mobile POS terminals market will focus on serving broader needs of merchants which are beyond POS, including combination of in-store sensors and mobile phones to drive better customer/product interactions, and back office applications such as supply chain and inventory management.
Smart POS terminals are one of the types of POS devices available in the global market. It combines the merchant’s payment with data analytics and back office support tools into a simple platform for payments in both e-commerce and physical stores. For instance, marketplaces run by Amazon and Walmart both have e-commerce platform as well as physical stores in the US. Hence, a common data analytics system is required, whether the purchase was done from the POS terminal or e-commerce channel. The smart POS terminals market is expected to grow at the CAGR of 17.1% in the forecast period of 2018-2025.
Among different countries worldwide, China had the highest POS terminal market share in 2017 and is expected to grow further during the forecast period. Among other Asia-Pacific countries, India has a promising potential for POS terminals market, which is estimated to grow with a CAGR of 18.3% in the forecasted period and is driven by growing economies of scale and government initiatives for going cashless. US on the other hand, has the dominance in the North American POS terminals market driven by latest POS technologies such as mPOS and integrated POS systems.
The competitive landscape of the global point of sale (POS) market includes presence of players serving to local markets as well as to international markets. Companies such as Ingenico, Verifone, Pax Technology, SZZT, Nexgo, Toshiba and Square have broader presence within the global market.
Key segments of the global point of sale (POS) market
POS Type Overview, 2013-2025 (USD million)
- Smart POS
- Integrated POS
Components Overview, 2013-2025 (USD million)
Technology Overview, 2013-2025 (USD million)
Industry Overview, 2013-2025 (USD million)
Regional Overview, 2013-2025 (USD million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Central & South America
- Rest of Central & South America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
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About Adroit Market Research:
Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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