June 22, 2020
According to the research report titled ‘Payment Machine Mounting Systems Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type; End Users, available with Market Study Report LLC, global payment machine mounting systems market amassed US$ 260.19 million in 2019 and is reckoned to reach US$ 413.35 million by the year 2027, growing with a CAGR of 6.5% from 2020 to 2027.
Owing to the rise in number of hospitals, pubs, retail outlets and restaurants worldwide, the POS solutions and related products like mounting stands are experiencing escalated demand. Rising adoption of these POS solutions in the healthcare, hospitality and retail sectors is fueling the adoption of payment machine mounting systems, like trays, adapters, and cash drawers, hence augmenting the market outlook.
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Apparently, online retail companies are expanding their business by establishing physical stores. Furthermore, changing lifestyle and eating habits of individuals has led to an increase in number of restaurants and pubs worldwide. These factors along with rise in construction activities of hospitals globally are responsible for penetration of POS solutions and mounting systems.
With regards to type, the industry is bifurcated into POS mount and others. POS mount segment dominated the global payment machine mounting systems market in 2019. These systems are developed to work with user’s existing hardware. They are compatible with monitors of various sizes ranging from 7 to 12 inch and 23 to 39 inch. POS mount protects the display and maximizes counter space.
Based on a regional overview, payment machine mounting systems market is divided into North America, Asia-Pacific, Europe, South America, and Middle East & Africa. Owing to the preference for card-based payment methods along with constant rise in number of hotels, restaurants, bars, retail stores and hospitals in the region, North America held the largest share in global payment machine mounting systems market in 2019, followed by Europe and Asia Pacific. Notably, mobile POS and tablet POS are widely used across the retail sector, thereby driving the demand for POS stands.
COVID-19 outbreak has caused notable disturbances in primary industries like automotive, semiconductor, consumer electronics and IT infrastructure. These industries play an important role in the growth of global payment machine mounting systems market as they create huge demand. Moreover, implementation of travel bans, factory shutdowns, border lockdowns, and trade bans to contain the spread of coronavirus are hampering both manufacturing and sales of various consumer electronics and components. Disrupted supply chain and halted manufacturing will restrain the growth of payment machine mounting systems market.
ENS-CO, Diwei Industrial Co., Ltd., Apollo Electronics Co., Ltd., Atdec Pty Ltd., HPC System, Lumi Legend Corporation, Innovative Office Products, LLC, Ergonomic Solutions, MMF POS, and Techpole Solutions are among the major players in the global payment machine mounting systems market.