Global Point-of-Sale Terminals Market Size, Share, Forecast Report, 2020-2027

The report provides rational insights along with historical and forecast data to aid in better understanding of the Global Point-of-Sale Terminals Market. The report provides a comprehensive analysis of key factors that are expected to drive the growth of the Point-of-Sale Terminals market. This study also provides a detailed overview of the opportunities along with the current trends observed in the target market.

The global point-of-sale terminals market size was valued at USD 69.0 billion in 2019 and is expected to expand at a 7.5% CAGR during the forecast period. Increasing demand for contactless and cashless payments, unification of in-store and online sale, employee and customer management, and the need to keep track of inventory has boosted the adoption of integrated Point-of-Sale (POS) terminals. Moreover, the retail, healthcare, hospitality, and other sectors have witnessed a digital transformation owing to technological advancements that has compelled the users to adopt point-of-sale terminals. The digital transformation and POS demand are also supported by the increasing use of smartphone as the portable POS system.

Both hardware and software of POS system have improved over the past few years, which has ensured portability and secure transaction. Increasing investment in end-to-end encryption technology for secure payment solutions and suitability to customers is expected to augment the reliability and demand for point-of-sale terminals. Additionally, integration of multifunctional software in POS system will benefit various applications in ensuring safe payment, customer data analysis, and storing employee information. A POS system is also a powerful employee management tool for monitoring their performance and generating a contented workforce.

The cashless economy is booming across developed countries owing to the ease of payment, hassle-free shopping, and online payment. Cashless payment has augmented the implementation of POS systems within retail and hospitality industry. Moreover, with changing technologies in debit and credit cards, contactless payments became popular for making a quick purchase without entering a PIN. This payment method uses radio-frequency identification or Near Field Communication (NFC) technology to render secure transactions within seconds. The technology not only reduces transaction time but also helps enhance the shopping experience, thus growing the demand for point-of-sale systems. Furthermore, introduction of a cloud-based POS system that is affordable and can be remotely updated, reduces the downtime. Also, growing demand for convenience features such as invoice management, inventory management, and image scanner are driving the demand for POS in retail, healthcare, and restaurants.

However, need for extensive government certifications, strict regulations, rising data security concerns, and unprecedented economic conditions are expected to challenge the POS terminals market growth. Non-compliance to Payment Card Industry Data Security Standards (PCI DSS) increases the probability of card data breaches, which could negatively impact customer trust and reputation of the market. However, use of ‘OmniShield Assure’ can protect card information through point-to-point encryption. This further reduces the risk of financial breach and minimizes the burden of PCI compliance.

The report covers major players operating in the market along with the key strategies implemented to achieve a competitive edge against a majority of the vendors which provides a competitive outlook of the industry. The competitive landscape further includes details about different players and their position on a global and a local level is also explained in detail in this compiled study. These insights were prepared through mapping business strategies and products that offer high revenue generation capacities. Key players of the global Point-of-Sale Terminals market are included as given below:

Companies active in the market include Ingenico Group; Hewlett-Packard Inc.; Cisco Systems, Inc.; Panasonic Corporation; VeriFone Systems, Inc.; PAX Technology Corp.; Toshiba Corporation, and Samsung Electronics, Co., Ltd. The industry players adopted product launch, partnership, and acquisitions as their key strategies for gaining a competitive edge over their competitors in the market. For instance, in October 2019, Valsoft acquired a hospitality point-of-sale system vendor, H&L Australia. Also, in April 2019, Just Eat Holding Limited acquired a software service provider of point-of-sale and restaurant management systems vendor named PRACTI. Furthermore, in October 2018, Electronic Merchant Systems (EMS) acquired point-of-sale solutions provider in the hospitality industry called ‘Total Touch POS’

The global Point-of-Sale Terminals market has been segmented as below:

• Product

  • Fixed

  • Mobile

• Component

  • Hardware

  • Software

  • Services

• Deployment

  • On-premise

  • Cloud

• Application

  • Restaurant

  • Hospitality

  • Healthcare

  • Retail

  • Warehouse

  • Entertainment

  • Others

• Global Point-of-Sale Terminals Market by Region
• North America
• Europe
• Asia Pacific
• Rest of the World

Reasons to Purchase this Report:

Estimates Point-of-Sale Terminals development trends with SWOT analysis

• Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main market players
• Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market’s expansion
• Market dynamics scenario, along with growth opportunities for players in the years to come
• Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the mentioned forecast period
• Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects