Global POS Terminals Industry to expand $125bn by 2024

Ezetap’s recent acquisition of FortunePay is a vital indicator of the growth in (Point of Sale) POS Terminals market. Similar to the growth strategies adopted by most markets, mergers & acquisitions and novel product launches primarily form the strategy landscape of POS terminals industry as well. In June 2017, Bangalore based POS firm Ezetap had acquired FortunePay, an online payment & physical payment service provider to banks in India.

This deal is anticipated to help Ezetap avail the latter’s infrastructure and become a sole payment service provider for the traders in India. Earlier in June 2014, Ezetap had also collaborated with SBI (State Bank of India) to install 500,000 point of sale terminals across India over the coming five years. With more and more companies undertaking strategic tactics, POS terminals market is sure to carve out an appreciable growth map over 2017-2024

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In January 2017, Fujitsu, a Japanese multinational IT equipment & service firm, launched Fujitsu TP8TM, a family of retail POS terminals, which was developed to optimize and improve the online payment performance across supermarkets, department stores, drug stores, and mass merchant stores. The new product also enhances the shopping experience of the customers across retail stores through its exceptional modularity. These new product innovations are expected to result in the robust expansion of POS terminals market.

In February 2017, OMA Emirates Group, a UAE based payment service provider, purchased MobiSwipe, one of the leading mPOS service providers. The acquisition will help OMA to expand its service portfolio across APAC, Middle East, and East Europe. MobiSwipe permits traders to make use of smartphones and tablets as POS terminal devices to accept payments via debit or credit cards. In a vital breakthrough, MobiSwipe, now a part of the OMA Emirates Group, in April 2017, announced the setup of more than 50,000 mPOS terminals in India within nine months. This is an instance of how major firms have been taking key initiatives to promote cashless deals in the country and explore new business growth avenues across India (Point of Sale) POS terminals industry.

In May 2017, Mswipe, a startup firm in the  mPOS terminals industry,  formed a joint venture with PayU India, a digital payment service provider, to expand its online payment business through the purchase of the latter’s offline merchant acquiring business. As per the reports from reliable sources, PayU had acquired more than 9000 offline traders across India, who, along with their point of sale business will be moved to Mswipe. Dealers transacting with Mswipe can now use PayU India’s online payment options. According to expert opinions, the strategic alliance between the online payment service providers will benefit both in terms of revenue generation as well the consolidation of their positions in POS terminals market.

In July 2017, ScanSource Incorporation, a leading service provider of point-of-sale, barcode, networking, and data solutions, acquired POS Portal Incorporation, distributor & renter of POS devices, for USD 144.9 million to extend and improve its POS payment services across the globe. This is ScanSource’s sixth acquisition since last three years, with its recent purchase being Intelisys, a technology service distributor and master agent of carrier, telecom, & cloud solutions, for USD 83.6 million in June 2017.

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The month of July also witnessed NEXTEP SYSTEMS, a provider of self-order POS services, form a strategic alliance with LevelUp, the largest mobile payment platform developed by Massachusetts-based startup firm SCVNGR. The alliance will enhance the service efficiency of both the firms by offering more effective and user-friendly online payment options. Speedy   self and mobile ordering operations, ensuring a seamless and personalized experience for the users are expected to spur the business expansion and ROI of both these firms, thereby providing a boost to POS terminals industry. Global Market Insights, Inc., claim POS terminals market value to surpass USD 125 billion by 2024.

POS terminals market revenue across APAC is set to experience a lucrative expansion in the future with the large-scale use of smartphones, Android Phones, and tablets. Densely populated regions such as India and China are expected to spur the regional growth.

U.S. POS terminals industry is expected to leverage the development of North America POS terminals industry over the years ahead with the government promoting the use of EMV and NFC enabled instruments. POS terminals industry is an evolving business sector with big players investing heavily in R&D activities to develop new technologies and products for gaining competitive edge.

It is more likely that rapid expansion of POS terminals market will encourage new service providers and manufacturers to enter the business further encouraging the existence of fierce competition in the industry.  VeriFone Systems Inc., Panasonic Corporation, Ingenico Group, PAX Technology Inc., and Toshiba Corporation are some of the major brands of POS terminals industry.

Browse key industry insights spread across 280 pages with 211 market data tables & 81 figures & charts from the report, “(Point of Sale) POS Terminals Market Size By Application (Entertainment, Healthcare, Hospitality, Retail, Warehouse), By Product (Mobile, Fixed), By Component (Software, Hardware), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Russia, South Korea, China, India, Japan, Brazil), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents: 

https://www.gminsights.com/industry-analysis/point-of-sale-pos-terminals-market 

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology. 

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Global Point of Sale Terminals Market to surpass $103b by 2023

The report “(Point of Sale) POS Terminals Market Size By Application (Entertainment, Healthcare, Hospitality, Retail, Warehouse), By Product (Mobile, Fixed), By Component (Software, Hardware), By Technology (Biometric, Traditional), Industry Analysis Report, Regional Outlook (U.S., Mexico, Germany, UK, China, India, Japan, Brazil), Application Potential, Price Trends, Competitive Market Share & Forecast, 2012 – 2023” by Global Market Insights, Inc. says that point of sale (POS) terminals market share to exceed USD 100 billion by 2023 to forecast grow at 11.2% CAGR from 2016 to 2023. The volume of the global point of sale terminals market was more than 43000 million US dollars during year 2015. It is predicted to cross 100000 million US dollars by the end of year 2023. The global industry is expected to register a CAGR of more than 18% during the estimated span.

The global point of sale terminals market has experienced a substantial turnaround due to significant expansion of point of car terminal services and different technical modernizations taking place at rapid speed. Increasing demand for integrated point of sales, contactless methods of payments and creation of NFC equipments in industrial ecosystem are few of the aspects predicted to stimulate the growth of the global industry. Growing investment in line bursting technology is predicted to play an important part in enhancing the demand & growth of the global industry.

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Widespread use of wireless technology for communication purpose and heavy demand of point of sale terminals across different areas of applications are the key factors driving the growth of the global point of sale terminals market.

But the requirement for widespread government certifications and rules along with data safety concerns is predicted to hinder the growth of the global point of sale terminals market. Further, the non conformance to PCI data security standards enhances the chance of card information violations leading to fiscal as well as non fiscal impacts that includes reputation loss of representatives & loss of consumer faith.

Based on the product type, the global point of sale terminals market is divided into wireless & mobile point of sale terminals and fixed point of sale terminals.

The fixed terminals section led the global point of sale terminals market during year 2015. This section had also dominated the global industry in year 2013 in revenue terms. The main reason for the growth of the section is its quick acceptance of advanced market technology.

The wireless & mobile point of sale terminals section has substantially grown since these systems provide few natural benefits like low initial installation cost, mobility and user friendly feature. Further, the demand for mobile point of care terminals is very high among small & medium scale enterprises due to less initial set up costs. Also the utilization of smart phones and tablets has substantially grown in offices contributing to the demand and growth of the section. All these factors are projected to add towards the demand and growth of the section in future.

In addition to this, factors like growing credit card payments, rapidly changing customer choices and advanced data analytics are predicted to add to demand of mobile point of sale terminals. Increased security, paper free receipt services, minimized consumer time in line and free floor space are few of the factors predicted to stimulate the demand and growth of the mobile point of sale terminals.

Wireless & mobile applications can develop new revenue producing channels. Thus, dealers are accepting many marketing channels to power their techniques to compete in the industry. Further, the introduction of cost effective wireless communication technologies in the market has resulted in enhanced acceptance of these wireless & mobile systems. This has enhanced the demand and growth of the point of sale terminals market all across the globe.

Depending upon the component, the global point of sale terminals market is bifurcated into software and hardware.Hardware section includes payment terminal, workstation and accessories.Payment terminal includes smart phones and tablets paired with debit or credit card readers. While accessories includes monitors, receipt printers, bar code scanners, wireless bar code scanners, PIN pad, cash drawers ,physical inventory scanners and tag printers.

Software section is predicted to expand rapidly during the estimated span. The expansion is credited to modernization in cloud computing technology leading to enhanced use of SaaS platform based point of sale systems. The growth of the section can also be attributed to the fact that software combines functions of barcode scanners as well as screen terminals across the point of sale systems and then offers data backup.

Based on the application, the global point of sale terminals market is segmented into retail, restaurant, hospitality, super market, entertainment, healthcare, warehouse and others. Others section includes transportation, field service and government.

Browse key industry insights spread across 178 Pages with 67 market data tables & 62 figures from the report, “(Point of Sale) POS Terminals Market” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/point-of-sale-pos-terminals-market

Retail section was the biggest application section during year 2013. Different kinds of modernizations in the point of sale terminal systems used today in retail section like acceptance of real time analytics is contributing towards the expansion of the global point of sale terminals market.

Acceptance of point of sale terminal systems in healthcare section and their growing utilization in warehouse section is predicted to stimulate the future growth of the global point of sale terminals market.

Healthcare section has displayed substantial increase in demand for point of sale terminals due to rise in infrastructural growth & healthcare spending. Thus the global point of sale terminals market has recognized profitable prospects in healthcare section. The healthcare section is predicted to register rapid growth in future.

Rising need for modern analytics in warehouse section is predicted to contribute towards the growth of the global point of sale terminals market. Depending upon the geographical location, the global point of sale terminals market is segmented into APAC zone, North American subcontinent, European continent and region of the rest of the world. During year 2013, the North American subcontinent led the global point of sale terminals market in

terms of revenue. It also dominated the market during year 2015 in terms of revenue. The reasons behind the growth of the market includes substantial demand for point of sale terminals from hospitality & retail sections as well as quick execution of modern technology in the regions of North America. Further, constant demand for point of sale services across nations like USA and Canada is predicted to promote the growth of quick service restaurants, retail shops and entertainment industry leading to the growth of the point of sale terminals market in the subcontinent.

The European continent, compliance needs like Visa, EuroPay and Master card rules are promoting the growth of the point of sale terminals market in the region as these rules have enhanced safety payments. Nations like UK, Germany and France are witnessing substantial growth in the healthcare section owing to large scale investments in technology upgrading healthcare services in these nations and thus adding to the market growth in these regions.

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APAC zone is predicted to be rapidly growing zone due to growing hospitality & retail sections in India and China. The growing consumer base across emerging economies of APAC zone due to growth of small scale, middle scale & large scale firms and minimization of total ownership cost in these economies are the factors predicted to favourably affect the point of sale terminals market in APAC zone. Further demand from nations like Hong Kong, Japan, Australia, China and India is predicted to promote the growth of the market in the APAC zone. The low levels of penetration and large population in the countries of APAC zone is predicted to drive the demand & growth of the market during estimated span.

Growing demand for mobile point of sale terminals from small & middle sized firms is predicted to stimulate the demand & growth of the point of sale terminals market in region of the rest of the world. Strategic mergers and acquisitions is a key business strategy adopted by the key market participants to increase their market share and ROI.

Key market participants involved in the point of sale terminals business and promoting the growth of global point of sale terminals market are included, Ingenico S.A, Squirrel Systems, Cisco Systems, PAX Technology Limited, Panasonic Corporation, HP Company, Verifone Systems Incorporation, Toshiba Corporation, MICROS Systems Incorporation, NCR Corporation, SKU Logistics, Wincor Nixdorf, Samsung  Electronics Company Limited, Raymark, Xpert, Business Systems Incorporation, Bunzl PLC   

Browse Related Reports:

Mobile POS Terminals Market Size By Component (Software, Hardware), By Application (Restaurants, Entertainment, Hospitality, Healthcare, Warehouse, Retail), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, China, India, Japan, Brazil, Mexico), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2023

https://www.gminsights.com/industry-analysis/mobile-point-of-sale-mpos-terminals-market 

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology. 

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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Toll Free: 1-888-689-0688
Email: sales@gminsights.com
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