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The Insight Partners adds “Payment Machine Mounting Systems Market Forecast to 2027 – COVID-19 Impact and Global Analysis by Type [POS Mount (Fixed Payment Mount and Drive Extension Arm Payment Mount) and Others]; End Users [Retail Stores, Restaurant and Pubs, Hotels, Hospitals, and Others]” research report to the Electronics and Semiconductor category of its store.

The payment machine mounting system market was valued at US$ 260.19 million in 2019 and is projected to reach US$ 413.35 million by 2027; it is expected to grow at a CAGR of 6.4% from 2020 to 2027.

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The globally growing number of retail stores, hotels, and restaurants is driving the penetration of POS technologies and thus the installation of related products, such as mounting stands. Also, the emergence of modular mounting technologies and booming retail and hospitality sectors in Asia would drive the POS and payment machine mounting systems market in the coming years. However, the use of mPOS technology for paying bills might hinder the growth of the market.

Growing Number of Retail Outlets

Increase in the number of retail outlets across the globe is driving the use of POS solutions to make payments quickly. The POS solutions are gaining momentum in the retail sector as they ensure safe and secure transactions while saving time of customers. The number of retail outlets, such as superstores, food markets, drug stores, department stores, and convenience stores, is increasing annually across the world. The adaptation of stores for service expansion, store footprint rationalization, and center-store optimization features, as well as robotics technology are further likely to encourage the construction of more retail outlets, irrespective of their industry. Increase in the use of POS solutions in various outlets, mainly retail, drives the adoption of payment machine mounting stands which is impacting the market growth.

Impact of COVID-19 Pandemic on Payment Machine Mounting System Market

According to the World Health Organization (WHO) report, the US, Spain, Italy, France, Germany, the UK, Turkey, Iran, China, and Russia are among the worst-affected countries by the COVID-19 outbreak. The COVID-19 crisis is affecting the industries worldwide, and the global economy is anticipated to experience the worst hit in 2020 and 2021. The outbreak has created significant disruptions in primary industries such as consumer electronics, semiconductor, automotive, and IT infrastructure. All these industries are crucial for the growth of global payment machine mounting systems market as they generate a major demand for these systems. The factory shutdowns, travel bans, trade bans, and border lockdowns to combat and contain the outbreak have impacted both manufacturing and sales of various consumer electronic products and components. The global electronics and semiconductor industry is one of the major industries that is suffering serious disruptions due to interrupted supply chains and manufacturing shutdowns.

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Regional Insights: Payment Machine Mounting Systems Industry

APAC accounts for the largest share of the global payment machine mounting system market. A substantial percentage of the population in the APAC countries has started using card-based payment methods to enhance the digitalization in the country. Pertaining to the rise in demand for card-based payment, the demand, and manufacturing of the POS system has ascended steeply. This, in turn, has led to the development and adoption of POS mounts or stands. Another factor boosting the growth of the payment machine mounting system market in APAC is the development and adoption of integrated POS stands. The integrated stands facilitate the end users to mount monitors and POS terminals on one single construction, thereby enabling them to save floor space.

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Expert Opinions on Payment Machine Mounting Systems Industry:

During the course of the research study, various leading industry experts, global sales managers, key opinion leaders, and industry veterans shared their valuable and critical insights about global and regional trends related to the Payment Machine Mounting Systems Industry. As a result, the figure below summarizes a few expert opinions collected during the primary research for the global Payment Machine Mounting Systems Industry.

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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