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Market Tracking: POS Systems in Europe 2008
InterConnection Consulting Group, Jan 2008, Pages: 600
POS Cashing In 2.5 Billion Euros in 2008
According to our latest report on the POS systems in Europe the market accounted for over 1.3 million units sold, valued at almost 2.5 billion of euros. With an average growth rate of 5,5% in Western Europe and 15.5% in Eastern Europe, the market is far from letting down its producers.
The POS Systems market has become a very important and fast growing business. Even in times of economic slowdown, the market remains healthy as consumers do not stop buying, just shopping differently. Advances in technology, price reductions in some markets, and a strong trend towards modernization have been some of the factors that have fuelled growth. No surprising the market is expected to reach in 2010 the 3 billion mark in terms of value with over 1.6 million terminals sold.
Technological advancements (i.e., RFID applications) and lower adoption costs have made the acquisition and replacement rates to change favourably in the near future. In the midst of this, as the time interval of replacement of POS systems varies between five and ten years approximately (depending on the size of company), a stronger increase in market volume from 2006 is expected after the last important injection changed just before the introduction of the Euro currency. Therefore the market growth has seen a jump of 0.6 points in Western as well as Eastern Europe. However, new technologies and their application in different segments will modify the renewal patterns as the product evolves and uses technology to deliver segment specific solutions, “equilibrating” the growth rate. This development will also last beyond 2007, and a total annual growth rate of 7.4% is expected in 2010.
With an 80.2% market share, the European consumers lean towards PC Systems, All-in-One PCs owing 50.6% of the total market. However, Modular PC’s are gaining popularity, and is the only product group gaining in CAGR, to reach 31.0% of the market share in 2010. There is a face-off between the practicality of a compact All-in-One and the perfect business adaptation of a Modular that should reach a point of balance as technology improves and modules become smaller, easier to attach to the main POS structure and therefore create a product in between that has become the new trend. Another trend identified is when considering the operating systems used: the demand for Linux systems as OS is definitely a standard to keep an eye on. Concerning the user interfaces, touch screens will continue to be preferred in the next few years.
In terms of consumer segments, hospitality keeps losing market share in favour of the new sectors using POS Systems. Still, it maintains its first place with 26.2% share of the total market. The tourism sector in Europe has shown a good development throughout the last years and this is one of the pillars supporting this sector as well as many others in the business. The applications showing the highest annual growth rates, however, are Textile/Shoe and Food Retailing as well as Other Retail segments. Respectively they have average annual growth rates of their market shares of 0.8% and 0.9%. As the saturated market growth rate in the Service Stations sector is losing speed in the west, it keeps on being boosted by new demands from the Eastern Europe markets as well as the renewal of obsolete systems. Other segments that were not traditional POS System client are joining the trend and, as time passes and the business becomes a common tool, are gaining annually 0.9% market share.
The distribution channels remain dominated by well established connections to the dealers, through whom 48.8% of all products are delivered. Their position should strengthen by falling market shares of system houses as well as direct sales, representing respectively 13.3% and 37.9% market share.
On the competition level, the total European market in Europe is dominated by many of the world’s biggest electronic producers in the world, plus some POS producers, that overall provide advanced solutions for all countries and most of the applications. Companies such as Wincor, IBM, NCR, Fujitsu, TEC and Sharp are on top of the overall ranking in Europe as well as holding a remarkable market share in various applications. However, not all have strong years, as is reflected in their annual growth rates, varying from +1.8% to -1.8%.
Market Tracking: POS Systems in Europe includes:
- Development of the total market and forecast for each country for the years 2004 -2010 in terms of quantity and value per type of POS (All-in-One and Module POS, All-in-One and Modular PC), and in terms of quantity per distribution channel (Direct, System Houses, Dealers & Others) and application (Hospitality, Bakeries, Service Stations, Food Retailing, Textile & Shoe, Perfumeries, Other)
- Competition analysis and market shares of the top companies for each of the countries in terms of quantity and value per product group, and in terms of quantity per distribution channel and application.
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