November 01, 2019
According to the new research report available at MarketStudyReport.com under the title ‘Global Point of Sale (POS) Terminal Market - Analysis By Product Type (Fixed POS, Wireless POS), Component Type (Hardware, Software), Application (Retail, Healthcare, Restaurant, Hospitality, Others), By Region, By Country (2019 Edition): Opportunities and Forecast (2014-2024) - By Region (North America, Europe, APAC, ROW), By Country (US, Canada, Germany, France, UK, Italy, China, Japan, India, South Korea)’, the worldwide point of sale terminal market is anticipated to exhibit 8.34% CAGR through 2024.
Point of sale terminals have been growing in popularity owing to the rising demand for plastic money. These can read the information on credit and debit cards to initiate or process transactions. Moreover, various vendors have recently emerged in POS market which has led to an increased competition between the established players.
Increasing concerns related to carrying cash have increased the adoption of credit and debit cards owing to which POS market is expected to increase at an exponential rate over the forecast timeframe. It is considered to be the safest mode of payment owing to its swift processing and credibility. However, inability of banks to timely dispatch debit and credit cards is hindering the market growth.
The research report offers a comprehensive insight about segmental growth, trends, drivers, challenges, opportunities impacting the market growth.
The worldwide POS market is analysed on the basis of product type, component type, application spectrum and regional landscape. Based on the product type, the market is segmented as wireless mobile terminal and fixed POS terminal. While speaking of the component type, the market is fragmented as hardware and software.
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Considering the application spectrum, the market is segmented as healthcare, hospitality, restaurant, retail, and others. While based on the regional landscape, the market is divided into four main regions which are Asia Pacific, North America, Europe, and rest of the world. Moreover, Asia Pacific accounts for the largest share of POS market among all the regions.
The prominent companies operating in POS terminal market include Ingenico S.A., NEC Corporation, Samsung Electronics Co. Ltd., PAX Technology Limited, Panasonic Corporation, MICROS Systems Inc., Toshiba Corporation, VeriFone Systems Inc., Cisco Systems Inc., and Hewlett-Packard Company.
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