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 

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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 POS Terminals Industry to expand $125bn by 2024

Point of Sale (POS) terminals market popularity of wireless communication technology and high demand across application areas are key growth drivers. (Point of Sale) POS Terminals Market size is set to exceed USD 125 billion by 2024; according to a research report by Global Market Insights, Inc. The global shipments are set to witness a double-digit growth rate in the coming years.

The POS terminals market is anticipated to witness considerable growth over the forecast timespan owing to the rising demand across several applications such as entertainment, healthcare, hospitality, retail, and warehouse. Increasing advancements in technologies and the growing demands for contactless payments, coupled with the adoption of NFC devices in the industry are anticipated to boost the global POS terminals market demand.

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Owing to the surge in the popularity of e-commerce in the recent years, an increase in the number of online shoppers has been witnessed. The increasing demands from customers, and the changing customer needs has compelled several vendors to focus on implementing online sales segment for their businesses. The vendors are concentrating on replacing their physical stores with e-commerce channels, which has led to a speedy growth of e-commerce transactions. Moreover, the developments in design & engineering and the low pricing of the terminals has made them affordable for most of the vendors.

The rising penetration of the Internet and payment solutions, such as online payments, stationary phone and mobile payments, has given an impetus to the POS terminals market. The systems are gradually shifting towards digital format, with e-mail and electronic receipts allowing paper free transactions. In addition, increased adoption of debit and credit cards has generated a high demand for these devices. With the advancements in payment technologies, the industry is migrating towards EMV chip card payments which is anticipated to further fuel the POS terminals market momentum in the next seven years.

A key challenge for the industry participants is the privacy and security concerns associated with data breaches. The non-compliance towards Payment Card Industry Data Security Standard (PCI-DSS) is increasing the prospect of card data breaches, which is resulting in the financial impacts. The migration of the global payments market towards more secure chip card technology is anticipated to subdue the impact of this challenge.

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Rise in the reasonably priced wireless communications technologies is fueling the mobile POS terminals market demand. Presence of universal wireless connectivity such as Bluetooth, and the availability of mobile card readers, scanners, printers, and other devices has driven the industry growth. This growth has encouraged retail and hospitality industries to leverage new strategies and applications to offer a seamless customer experience.

The healthcare application is expected to witness high growth opportunities owing to the rising need to streamline payment practices which is determined to drive the POS terminals market demand. The systems are enabling the exchange of healthcare data which includes administrative, clinical and financial data, through a secure and safe infrastructure. With the rise in high deductible insurance plans, and the patients desire to negotiate healthcare costs in real-time it has led to an increased number of card based payments by patients thereby fueling the system installations at healthcare institutions and providing a growth impetus to the POS terminals market.

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

The APAC POS terminals market is predicted to witness substantial growth owing to the growing usage of smartphones and the considerable unbanked population in densely inhabited countries. Increasing number of healthcare facilities coupled with the developing payment landscape is anticipated drive the demand. In addition, China and India POS terminals market are anticipated to act as an impetus in generating a demand for the systems owing to a speedy increase in the number of businesses and SMEs.

The key industry players include VeriFone Systems Inc., Toshiba Corporation, Squirrel Systems, Shenzhen Xinguodu, Samsung Electronics Co., Ltd., Panasonic Corporation, PAX Technology, NEC Corporation, NCR Corporation, Ingenico Group, Fujian Newland and Cisco Systems, Inc.

The industry is growing steadily with extensive demands, industry players are investing in R&D to gain a competitive advantage, which is anticipated to result in mergers and acquisitions. In the industry, the number of solution providers and manufacturers are likely to increase, thereby escalating industry competition in the coming years.

Browse Related Reports:

  • India (Point of Sale) POS Terminals Market Size By Application (Restaurants, Entertainment, Healthcare, Hospitality, Retail [Department Stores, Supermarkets/Hypermarkets, Convenience Stores, Discount Stores, Specialty Stores], Warehouse), By Product (Mobile, Fixed), By Component (Software, Hardware, Services), By Functionality (Connected, Standalone), Industry Analysis Report, Regional Outlook (Tier-One Cities, Tier-Two Cities), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024 

https://www.gminsights.com/industry-analysis/india-point-of-sale-pos-terminal-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 POS Terminals Market to grow at 11.2% CAGR from 2016 to 2023

The industry share 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, 2016 – 2023”, global (Point of sale) POS terminals market to hit USD 103 billion by 2023. Development of innovative solutions to improve profit margins across industry verticals will fuel global POS terminals market share. Security features, wireless communication technology, growing requirement for paper-less receipts, and prevention of fraudulent transactions will boost product demand.

POS terminals comprise hardware and software components. Software-based POS terminals are cost-effective and integrated with advanced features that facilitate convenience across the value chain, which will drive software Point of Sale terminals market. Hardware-based POS terminals market accounted for a significant 85% of the overall industry share in 2015.

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Fixed and mobile are the two types of POS terminals. Increasing usage of mobile devices such as tablets and smartphones will propel mobile Point of Sale terminals market size, which is expected to grow at a CAGR of more than 19% over 2016 to 2023. Unrestrained information access, convenient online payments, and rising consumer preferences toward high-tech mobile devices will catalyze industry growth.POS terminals find applications across the retail, warehouse, healthcare, entertainment, and hospitality sectors.

Retailers are increasingly adopting advanced technology such as EMV to prevent transaction frauds and implement secure online payments, which will catalyze Point of Sale terminals market. Products used for the retail sector are endowed with advanced features such efficient invoice system, discount offers, inventory management systems, data backup, and customer record maintenance. Retail POS terminals industry attributed to more than 30% of the overall share in 2015, driven by the requirement for a secure work module and growing demand for operational efficiency.

Highly developed infrastructure and rising demand for online bill payments will significantly propel healthcare Point of Sale terminals market size over 2016-2023. Furthermore, increased investments in the healthcare sector coupled with an efficient system to track patient information will stimulate industry growth.

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

https://www.fractovia.org/news/industry-research-report/point-of-sale-pos-terminals-market

Rising demand for tablets and smartphones coupled with the upgradation of retail stores across countries such as China and India will stimulate APAC POS terminals market. Increasing adoption of mobile wallet payments such as Apple Pay and Samsung Pay will drive U.S. Point of Sale terminals industry size, which was significantly high in 2015.

The industry participants are engaging in mutual collaborations to improve profit margins and strengthen regional presence. For instance, Revel Systems recently collaborated with Shell Partner to increase Shell’s business through mobile payments by installing POS systems at gas stations. Moreover, strategies to combat the increasing security threats across various sectors will also be one of the top priorities of the manufacturers.

Key market players are VeriFone Holdings, Ingenico Group, and PAX Technology, NCR Corp., Cisco, CDL Logistics, Demandware, LS Retail, Cegid Group, and CitiXsys Inc.

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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. 

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