DUBLIN--(BUSINESS WIRE)--The "Point of Sale Terminals Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The point of sale terminal market was valued at USD 74.82 billion in 2019, and it is expected to reach USD 176.31 billion by 2025, witnessing a CAGR of 16.21% during the forecast period of 2020-2025. With an increasing concentration of businesses and growing customer frequency, businesses are looking for technologies that streamline processes and integrate into a single contact point. Point-of-sale systems are the final contact point of businesses that are employed to handle checkouts and payments.
- Modern POS systems integrate multiple systems into a single terminal, to handle a range of operations, including billing, cash collection, card payments, printing, data analysis, etc. Innovations in technology have led to advancements in these systems, namely MPOS and automated POS systems, which completely automate the checkout processes.
- The POS market is driven by innovations leading to an increase in the adoption across various industries such as hospitality, entertainment, and restaurants. Manufacturers are investing in R&D to develop innovative solutions for the healthcare and retail industry, that will help increase profitability.
- Lower maintenance cost, accurate transaction and real-time inventory are key advantages of the POS systems. Moreover, increased in the smartphone is making the online transaction easier to use and with a wide range of services and offers it is attracting the more customer base.
Key Market Trends
Ease of Use and Increased Efficiency Driving the Growth of Point of Sale Terminals Market
- Point-of-sale systems have emerged as a reliable alternative to traditional cash registry systems. These systems give merchants multiple capabilities, such as tracking of sales, faster checkouts, easy forwarding of orders, monitoring the inventory, secure payments, etc.
- These features enable merchants to increase productivity, and subsequently, sales. The new generation systems need minimal interaction from a technician to install the systems, as these devices with plug-and-play capabilities are being deployed with most of the pre-installed software components.
- This eliminates the hassles of setting up the system for users and thus makes it easy for small and medium merchants to adopt these systems. Thus, the ease of use offered by the systems and increased efficiency are driving the growth of these systems across the globe.
- Moreover, debit card, credit card, and e-wallet will completely change the dynamics of POS payment in the subsequent year replacing the cash payment at POS terminals. This is due to a surge in online payments, and growing adaption among people.
North America to Dominate the Point of Sale Terminals Market
- North America is the largest segment of the market studied. The significant share of the region can be primarily attributed to the adoption of POS terminals across various industries, particularly retail, entertainment, and healthcare.
- The United States is a major segment in the global and North American POS terminal markets. For several years, various types of POS terminals are being used in outlets in the country, thus boosting the need for replacement with updated technologies.
- The emergence of POS terminals would go a long way in bolstering the regional market. The increased competitiveness among the vendors and manufacturers is expected to bring about interesting growth prospects in the world of automation.
- North America is coveted for its consumer spending power and will continue to present a highly competitive and lucrative market.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Force Analysis
4.3 Market Drivers
4.3.1 Ease of Use and Increased Efficiency
4.3.2 High Returns on Investments
4.4 Market Restraints
4.4.1 Rising Security Concerns
4.5 Market Opportunities
4.5.1 Growth of MPOS Systems in Developing Economies
4.6 Technology Snapshot
5 MARKET SEGMENTATION
5.1 By Component
5.2 By Type
5.3 By Application
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Cisco Systems Inc.
6.1.2 Toshiba Corporation
6.1.3 VeriFone System Inc. (Francisco Partners)
6.1.4 Samsung Electronics Inc.
6.1.5 MICROS Systems Inc. (Oracle)
6.1.6 Hewlett Packard Enterprise
6.1.7 Ingenico SA
6.1.8 NEC Corporation
6.1.9 Panasonic Corporation
6.1.10 PAX Technology
6.1.11 Dell Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/kclri5
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.