December 19, 2019
According to a new research report titled ‘POS Terminals Market Size By Product (Mobile, Fixed), By Component (Hardware, Software, Service), By Technology (Biometric, Traditional), By Operating System (Windows, Linux, MAC), By Application (Restaurants, Hospitality, Healthcare, Retail, Warehouse/Distribution, Entertainment), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 - 2025’, available at MarketStudyReport.com, the global POS terminals market is slated to surpass USD 140 billion by year 2025.
Increasing technological advancements coupled with growing adoption of sophisticated payment solutions across a plethora of industrial domains, including BFSI, healthcare, hospitality, and retail among others is likely to fuel industry expansion.
Meanwhile, growing adoption of smartphones along with several government initiatives that promote digitization are emboldening economies to start using digital payment methods. The subsequent increase in the number of online transactions is expected to have a positive impact on POS terminals market trends.
With respect to the product type segment, mobile POS terminal demand is anticipated to increase due to a number of enhanced features like mobility, easy accessibility, flexibility, and a better user experience.
Mobile POS terminals deliver several cost-effective benefits to numerous industries. In fact, the hospitality and retail sectors are increasingly turning to these systems due to the improved ROI they offer and because of a growing need for customer analytics features.
In terms of the technology, the biometric technology segment is projected to undergo momentous growth attributing to its ability to facilitate secure payment solutions as well as the level of convenience it brings to customers.
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Financial organizations are extensively incorporating biometric POS terminals in their operations to strengthen their security and subsequently reduce payment frauds.
The list of key players staking their presence across the global POS terminal market includes prominent names like Toshiba Corporation, Panasonic Corporation, NEC Corporation, PAX Technology, NCR Corporation, POS Direct Ltd., LS Retail, VeriFone Systems, Inc., Diebold Nixdorf, Ingenico Group, Bucher Industries AG, Micros Systems, Inc., Bitel Co., Cegid Group, Cybernet, and Epicor Software Corporation among others.
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