Sarasota, FL, Nov. 24, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Point-of-Sale (POS) Terminals Market By Type (Fixed POS Terminals and Wireless and Mobile POS), By Component (Hardware and Software) for Restaurant, Hospitality (Lodging), Healthcare, Retail, Warehouse/Distribution, Entertainment and Others - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 – 2022”. According to the report, the global Point-of-Sale (POS) terminals market was valued at approximately USD 45.97 billion in 2016 and is expected to reach approximately USD 98.27 billion by 2022, growing at a CAGR of around 13.5% between 2017 and 2022.
A point of sale terminal (POS) is an electronic device which is used to process card payments at retail locations. The point of sale terminal system involves records maintenance and tracking customer orders, processing credit and debit cards and connecting to other systems in a network. It is a computerized replacement for a cash register. POS terminal machines are used to accept cards for payment of service and good. POS terminal allows a cardholder to have a real-time online access to funds and information in a bank account through its debit or cash cards.
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Browse through 29 Tables & 26 Figures spread over 110 Pages and in-depth TOC on "Global Point-of-Sale (POS) Terminals Market: Product, Component, Application, Type, Size, Share, Analysis, Segment and Forecast 2016 – 2022”.
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An increasing number of e-commerce transactions is one of the primary growth factors for POS market. The rising adoption of mobile devices such as smartphones and tablet computers is also driving the growth of the e-commerce market. The Recent shift in customer preferences towards high volumes of non-cash transactions and availability of additional payment options is anticipated to augment the demand for these systems. However, security concern and lack of awareness of small businesses can impact the growth of the market.
The point of sale terminals market is segmented on the basis of product, component, region, and application. Product segment includes fixed POS terminal & wireless and mobile POS terminal. On the basis of component segment point of sale terminals market is segmented as hardware and software. Application segments of this market are retail, hospitality, healthcare, warehouse, entertainment, and others. At present retail segment is dominating the market due to the high & low volume of transaction. It simplifies the accounting process, offers easy to look up past transactions, creates purchase orders, provides faster service than old-fashioned cash registers, and it can also cut down on user errors. On the basis of the component, the point of sale terminals market segmented as hardware and software. Due to increasing demand from retail businesses and hospitality the POS software segment is expected to reveal high growth over the forecast period.
Browse the full "Point-of-Sale (POS) Terminals Market By Type (Fixed POS Terminals and Wireless and Mobile POS), By Component (Hardware and Software) for Restaurant, Hospitality (Lodging), Healthcare, Retail, Warehouse/Distribution, Entertainment and Others - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 – 2022" report at https://www.zionmarketresearch.com/report/point-of-sale-terminals-market
Regional Segment includes North America, Europe, Asia Pacific, Latin America, Middle East and Africa. POS terminals market was dominated by North America due to high demand for POS terminals from the retail and hospitality sectors in the region and high technology adoption rate.
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North America is followed by Europe. The countries from Asia Pacific such as India and China focused on account of the proliferation of retail stores are expected to show tremendous demand for POS terminals in near future. Asia Pacific is expected to grow at the fastest CAGR. This market has high growth potential in the forecast period due to its efforts towards the cashless economy and government support towards digitalization. In addition, high adoption of POS terminal in many sectors such as retail, healthcare, warehouse/distribution, government, manufacture, and others will help to drive the point-of-sale terminal market in this region.
Key industry participants in global Point of sale terminals market (POS) market include Cisco Systems, Inc., MICROS Systems, Inc., Hewlett-Packard Company, Panasonic Corporation, Toshiba Corporation, PAX Technology Limited, Samsung Electronics Co., Ltd., NEC Corporation, and VeriFone Systems Inc.
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The report segments global point-of-sale (POS) terminal market into:
Global Point-of-sale (POS) Terminals Market: Product Segment Analysis
- Fixed POS Terminal
- Wireless and Mobile POS Terminal
Global Point-of-sale (POS) Terminals Market: Component Segment Analysis
- Hardware
- Software
Global Point-of-sale (POS) Terminals Market: Application Segment Analysis
- Retail
- Hospitality
- Healthcare
- Warehouse
- Entertainment
- Others
Global Point-of-sale (POS) Terminals Market: Regional Segment Analysis
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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