Moreover, the rising financial frauds worldwide have demanded POS terminals. The government’s adoption has supported the vision of bringing a cashless economy worldwide, owing to the hassle-free payment option, online payment without cash and reduced waiting time in queue. With the changing technologies in credit debit cards, contactless payment became famous for making a quick purchase without entering a PIN; POS has witnessed increased adoption rates. According to the publisher, Point of Sale Terminal Market will reach US$ 109.27 Billion by 2027.
Based on Applications
POS terminal segmented into fixed and mobile. Fixed systems hold the largest market share; large-scale vendors prefer it mainly due to high procurement and installation costs. With the rising mobility trends across the world, mobile Point of Sale Terminal systems is gaining traction. These terminals allow ease of payments during avoiding loss of sales due to delays, busy hours and helps in improving customer satisfaction. As per this report, the Point of Sale Terminal Industry will grow with a CAGR of 10.15% from 2020 to 2027.Further, Point of Sale Terminal systems facilitates transactions from businesses' central component to manage the inventories and payments in large end-user industries. Such as restaurants, healthcare, retail, hospitality, warehouse, distribution, and entertainment. POS systems are ubiquitous in the retail business world for their considerable benefits. A Point of Sale Terminal system in-store is essential as contactless payments have become popular among consumers who favour touch-free card payments. The Healthcare sector is owing to the growing need for managing patient information, smooth payment process, and tracking employee statistics.
Regional Analysis of POS Industry
North America has witnessed notable growth in the Point of Sale Terminal industry. With cloud-based apps on the rise and to replace machine resident programs with proven hybrid multifunction configurable POS systems, like POS-n-go, has met the business needs in U.S. retail brand outlets, such as Wal-Mart, Costco Wholesale Corporation etc. Besides, a surge in digital payment technologies in the Asia Pacific has created a pool of opportunities for POS in countries such as China, Japan, and India. As per this report, Point of Sale Terminal Market Size was US$ 55.53 Billion in 2020.COVID-19 Impact on the point of Sale Terminal Industry
The novel coronavirus outbreak has adversely impacted global manufacturing, demand, supply chain activities. This pandemic has completely disrupted the Industries like Hospitality, Tourism, Restaurants, and Entertainment POS market. Whereas Healthcare, Retail, Warehouse segment POS market has shown growth. However, overall, 2020 was not a very pleasing year for POS Industry. But the future seems to be very promising, with double-digit CAGR growth from 2020 to 2027.POS Companies Performance
The POS terminals market is highly fragmented with a high number of players such as NCR Corporation, Ingenico Group (acquired by Worldline), Fujian Newland Payment Technology Co. Ltd., Diebold Nixdorf, Inc., and PAX Technology, Inc. For Instance - In 2020, Ingenico combined Apple Pay Support for loyalty programs to encourage consumer engagement with merchants.This latest report “Point of Sale Terminal Market By Application (Fixed and Mobile), Component (Hardware, Services, Software), End-User (Restaurants, Healthcare, Retail, Hospitality, Warehouse and Distribution and Entertainment and Others), Region ( North America, Asia Pacific, Europe, Latin America, Middle East & Africa), Company (NCR Corporation, Ingenico Group (acquired by Worldline), Fujian Newland Payment Technology Co. Ltd., Diebold Nixdorf, Inc., and PAX Technology, Inc.) provides a detailed analysis of Point of Sale Terminal Industry.
Application - Point of Sale Terminal Market has been covered from 2 viewpoints:
1. Fixed2. Mobile
Component - Point of Sale Terminal Market has been covered from 3 viewpoints:
1. Hardware2. Services
3. Software
End-User - Point of Sale Terminal Market has been covered from 7 viewpoints:
1. Restaurants2. Hospitality
3. Healthcare
4. Retail
5. Warehouse/Distribution
6. Entertainment
7. Others
Region - Point of Sale Terminal Market has been covered from 5 viewpoints:
1. North America2. Europe
3. Asia Pacific
4. Latin America
5. Middle East & Africa
Company Insights:
- Overview
- Company Initiatives
- Sales Analysis
Companies Covered:
1. NCR Corporation2. Ingenico Group (acquired by Worldline)
3. Fujian Newland Payment Technology Co. Ltd.
4. Diebold Nixdorf, Inc.
5. PAX Technology, Inc.
Table of Contents
Companies Mentioned
- NCR Corporation
- Ingenico Group (acquired by Worldline)
- Fujian Newland Payment Technology Co. Ltd.
- Diebold Nixdorf, Inc.
- PAX Technology, Inc.
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 120 |
| Published | August 2021 |
| Forecast Period | 2020 - 2027 |
| Estimated Market Value ( USD | $ 55.53 Billion |
| Forecasted Market Value ( USD | $ 109.27 Billion |
| Compound Annual Growth Rate | 10.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 5 |
