In this report, Technavio covers the market outlook and growth prospects of the global point of sale (PoS) accessories market for 2017-2021. Based on the product, the market is divided into the electronic cash register, barcode scanner, receipt printer, and PoS display segments.
|PoS accessories are accessories or equipment used at PoS stations across retail and hospitality sectors to facilitate inventory and transaction management. The advantages of PoS accessories, such as better inventory and people management, real-time transaction management, and productivity enhancement will drive the adoption of these accessories over the forecast period.|
Technavio’s research study segments the global PoS accessories market into the following regions:
PoS accessories market in APAC
“APAC is both the largest and fastest-growing segment of the global PoS accessories market, due to the unprecedented growth and development in the retail market in the recent decade. The region is quickly emerging as the IT hub, with China and India dominating and reshaping the international business in the region,” says Chetan Mohan, a lead analyst at Technavio for computing devices research.
APAC has a growing number of retail outlets, including supermarkets, mom-and-pop stores, specialty stores, warehouses, and shopping malls. Merchants in the region are ensuring that customers enjoy a safe and secure shopping experience by adopting the user-friendly PoS accessories. Countries such as China and India are significantly influencing the growth of the retail market in APAC.
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PoS accessories market EMEA
The PoS accessories market in EMEA is expected to reach USD 6.08 billion by 2021, attributable to the high significance of micro-, small-, and medium-sized enterprises (MSMEs) in the region. MSMEs are the primary customers of PoS accessories since they serve as the economic powerhouses in the region. Italy has many micro enterprises and is rich in retail outlets.
Similarly, small- and medium-sized enterprises (SMEs) are identified as productive drivers for the economic growth and development in Africa. SMEs account for more than 80% of the businesses in South Africa. The growth potential of the market in the region is high, which drives the sales of ECRs and receipt printers, thereby contributing to the PoS accessories market in the region.
PoS accessories market the Americas
The Americas has a very high concentration of retail outlets, making it a major revenue contributor to the PoS accessories market in the region. Also, the growing hospitality sector is leading to an increase in the number of outlets in the region. These factors are increasing the penetration of PoS accessories in the Americas. The majority of the revenue in the Americas is generated by retail outlets in the US and Brazil.
“The Americas quickly adapts to technological changes, which allows users to carry out transactions using their smart devices. The region is also witnessing a rise in the adoption of digital money, leading to the growth of PoS accessories in the region, since a large number of consumers are increasingly opting for online shopping,” says Chetan.
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