Technology is increasing at an extremely rapid rate leading in the appearance of inventive solutions of payment. All over the world, retail stores are focusing on delivering the significant experience of consumers like providing consumers with unified options of payment ultimately participating in the Point of Sale (POS) terminals market growth.
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In the historic year 2018, global point of sale (POS) terminals market size accounted at USD 8.44 billion. It is expected to increase the market in terms of rising in the digitization in the retail sector during the forecast period.
A point of sale terminal is basically a combination of hardware and software used by the merchants (or by the users) to complete the payment transactions. Latest technologies in POS software solutions include additional features such as reporting, dashboards, analytics, inventory management and others. In terms of hardware, POS terminals can be classified into wired devices or wireless devices. The global Point of Sale (POS) terminals market comprises of both hardware and software segments.
The hardware segment of the POS components has the highest revenue share within the global Point of Sale (POS) terminals market and was valued more than USD 4 billion in 2018. The hardware of the POS terminals vary according to the applications. For instance, large retail or food stores prefer wireless and touch-screen POS terminals which makes their customer experience smooth. While, the small retailers opt for mobile POS (M-POS) terminals which are less costly and very easy to deploy leading to the overall growth of Point of Sale (POS) terminals market.
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Mobile POS Terminals (M-POS) is a cost-effective method of POS transaction mainly used by small and medium sized businesses and also the second highest contributor to the overall Point of Sale (POS) terminals market. It is a portable POS that can be connected to a smartphone or a tablet that can function as a register. The customer either swipes the card on the machine connected to the phone or directly reads through the merchant’s phone using NFC or Bluetooth. Factors that work in the favor of mobile POS terminals market are increasing use of smartphones and emergence of innovative business models leveraging low cost technologies. This, in turn, have contributed to the overall growth global Point of Sale (POS) terminals market.
The point of sale terminals market in Latin America looks promising as electronic retail trade has undergone exponential growth in the period of 2011 to 2016. Owing to the annual increase in the card holders mainly in Dominican Republic, Mexico and Colombia, the Point of Sale (POS) terminals market share of Latin America has grown exponentially until 2017 and is expected to grow with a CAGR of 16.1% in the forecast period. The Latin America Point of Sale (POS) terminals market is majorly served by the cost-effective counter-top terminals followed by M-POS solutions.
The competitive landscape of the global point of sale (POS) market includes presence of players serving to local markets as well as to international markets. Companies such as Ingenico, Verifone, Pax Technology, SZZT, Nexgo, Toshiba and Square have broader presence within the global market.
Key segments of the point of sale (POS) terminals market
POS Type Overview, 2013-2025 (USD million)
- Smart POS
- Integrated POS
Components Overview, 2013-2025 (USD million)
Technology Overview, 2013-2025 (USD million)
Industry Overview, 2013-2025 (USD million)
Regional Overview, 2013-2025 (USD million)
- North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Central & South America
- Rest of Central & South America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
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What does the report include?
- The study on the global point of sale (POS) terminals market includes qualitative analysis of factors such as drivers, restraints, and opportunities
- Additionally, the market has been evaluated using the PESTLE analysis and Porter’s Five Forces’ analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of application and region. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players in the market with a significant global and/or regional presence
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