Wednesday, 02 November 2022 04:33 PM
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WILMINGTON, DE / ACCESSWIRE / November 2, 2022 / Transparency Market Research Inc. - The global point-of-sale (POS) terminal market is estimated to gain a value of US$ 178.3 Bn by the end of 2031, as per a review report by Transparency Market Research (TMR). In addition, the study finds that the market for point-of-sale (POS) terminal is expected to advance at a CAGR of 9.2% during the forecast period, between 2022 and 2031.
Point-of-sale (POS) terminals are being increasingly utilized in varied end-use industries such as the restaurant, retail, hospitality, and healthcare sectors. This factor is fueling the demand for varied POS terminal types around the world. The popularity of contactless payments and mobile card swipe machines is being increasing in several emerging economies owing to the rapid growth in the SMEs sector. This factor is leading to revenue-generation opportunities in the global point-of-sale (POS) terminal market, note analysts at TMR.
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Point-of-Sale (POS) Terminal Market: Key Findings
- The popularity of POS technology is being rising in the recent years owing to its ease of use and its broad range of uses. This factor, in turn, is fueling the expansion of the point-of-sale (POS) terminal market. Over the period of past few years, there has been surge in the adoption of mobile POS machines instead of conventional payment techniques owing to their ability to provide superior user experience. The modern POS terminals deliver extra facilities including accounting, sales tracking, and inventory management. Furthermore, the adoption of touchscreen POS terminals is increasing as they advance customer experience by delivering fast payment processing and checkout. Such factors are driving the growth opportunities in the market.
- The consumer population today is inclining toward adoption of hassle-free shopping experience. This aside, there has been a rise in the introduction of cash counter-free fully-automated supermarkets. These factors are expected to lead to increase in the point of sale machine use during the forecast period. Moreover, the market is anticipated to expand at significant pace in the near future owing to rise in the use of smartphones, surge in the number of credit card users and micro-merchants, and increase in the penetration of the Internet globally.
- Leading companies in the global point-of-sale (POS) terminal market are focusing on the study of important aspects such as what are the key features of a point of sale system and how they can develop next-gen products. Moreover, several enterprises are increasing investments in order to launch innovative POS swipe machines that deliver high-security protocols and help in improving the in-store digital payments experience, note analysts of a TMR review.
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Point-of-Sale (POS) Terminal Market: Growth Boosters
- Increase in the use of smartphones and easy availability of the Internet globally are fueling the demand for point-of-sale (POS) terminals
- Surge in the adoption of this technology from the SMEs sector is anticipated to drive the market demand for point-of-sale (POS) terminal
Point-of-Sale (POS) Terminal Market: Regional Analysis
The point-of-sale (POS) terminal market in Asia Pacific is expected to maintain its dominant position during the forecast period. The market growth is ascribed to rise in the smartphones use, increase in the introduction of NFC-enabled debit and credit cards, and surge in the government efforts in order to launch centralized payment systems in the region.
Point-of-Sale (POS) Terminal Market: Key Players
Some of the key players profiled in the report are:
- VeriFone, Inc.
- Ingenico
- New POS Technology Limited
- PAX Global Technology Limited
- Clover Network, Inc.
- Fujian Newland Payment Technology Co., Ltd.
- Oracle Corporation
- Shopify Inc.
- NCR Corporation
- Intuit, Inc.
- Lightspeed Commerce, Inc.
- NEC Corporation
- Toshiba Tec Corporation
- Block, Inc.
- Toast, Inc.
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Point-of-Sale (POS) Terminal Market Segmentation
- Component
- POS Terminal
- POS Software
- Cloud
- On-premise
- Services
- Integration & Implementation
- Support & Maintenance
- Type
- Fixed POS
- Mobile POS
- End-user
- Retail
- Restaurants
- Healthcare
- Hospitality
- Entertainment
- Others
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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About Transparency Market Research
Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research company providing custom research and consulting services. TMR provides in-depth insights into factors governing demand in the market. It divulges opportunities across various segments based on Source, Application, Sales Channel, and End-Use that will favor growth in the market over the next 9 years.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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