New York , United States- Report Ocean published the latest research report on the Point-of-Sale (POS) Terminals market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the Point-of-Sale (POS) Terminals market study demonstrates a detailed examination of the business state, which represents creative ways for company growth, financial factors such as production value, key regions, and growth rate.
The global POS terminals market is estimated to be worth $169.4 billion by 2026, and is expected to grow at a CAGR of 12.4%, according to a new research report published by Report Ocean.
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The report “Point-of-Sale (POS) Terminals Market [By Type (Fixed POS Terminals (Cash Counter terminals, Self-Service Kiosks, Others), Mobile POS Terminals); By Deployment (On-Premise, Cloud Based); By Component (Hardware, Software); By End-User (Retail, Healthcare, Restaurant, Hospitality, Others); By Region]: Market size & Forecast, 2018 – 2026”, provides insights and trends on adoption of point of sale (POS) terminals across the world.
Various types of point-of-sale (POS) terminals are used as reliable alternatives to the traditional cash registries at businesses where checkouts and payments are handled. POS terminals provide merchants with multiple capabilities such as secure digital payments, faster checkout process, sales tracking, inventory monitoring, etc. Also, these systems are ready to use (plug and play) having pre-installed software, thus eliminating technician/installation overheads. This particularly encourages small and medium sized businesses/merchants to adopt POS terminals as it offers ease of usage and increased efficiency. With technological advancements the POS hardware come with accommodations for multiple payment types including e-wallets, cards enabling payment flexibility for merchants and customers alike. These features have increased the popularity of POS terminal among businesses and is expected to drive further market growth.
North American regional market is observed to be the largest segment across the different geographies covered in the report. This dominating position of this region is mainly attributed to the widespread adoption of POS terminals across multiple industries such as retail, entertainment, healthcare, and hospitality. Demand from these sectors is majorly observed due to significant growth in organized retail sector, tourism, restaurants in this region. Asia Pacific Point of Sale terminals market is expected to record significant growth due to increased adoption of POS terminals in various countries in this region. The growth is further aided by government initiatives in developing economies such as India towards transformation of the economy from being cash dominant to becoming a digitized cashless economy.
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In 2020, the COVID-19 epidemic had a negative impact on ICT investment. The traditional hardware market took a hit as a result of the COVID-19 outbreak. On the other hand, traditional software is a huge contributor to productivity and is a big benefactor of ICT spending. Cloud computing and mobile devices are emerging as new platforms for delivering the most up-to-date software tools and applications.
Due to presence of considerable amount of companies providing POS solutions, the POS terminals market is observed to be competitively fragmented. This market report on POS terminals provides analysis of multiple POS solution providers including Aures Technologies, First Data Corporation, HP Development Company, L.P., Ingenico Group, MICROS Retail Systems, Inc., NEC Corporation, Panasonic Corporation, PAX Technology Limited, Samsung Electronics Co., Ltd., Square, Inc., and Verifone among others. The competitive landscape section in the reports provides key developments the major companies are involved in this space, for instance during April 2018 Samsung and PayPal officially launched their partnership service enabling consumers the usage of PayPal within Samsung Pay.
Report Ocean has segmented the global Point of Sale terminals market on the basis of type, deployment, component, end user, and region:
POS Terminals by Type Outlook (Revenue, USD Million, 2015 – 2026)
POS Terminals by Deployment Outlook (Revenue, USD Million, 2015 – 2026)
POS Terminals by Component Outlook (Revenue, USD Million, 2015 – 2026)
POS Terminals by End User Outlook (Revenue, USD Million, 2015 – 2026)
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POS Terminals – Region Outlook (Revenue, USD Billion, 2015 – 2026)
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