Selbyville, Delaware, Oct. 29, 2019 (GLOBE NEWSWIRE) --
Global POS Terminals Market share is poised to cross USD 140 billion by 2025; according to a new research report by Global Market Insights, Inc. Increasing awareness regarding the benefits of point-of-sale terminals among various industry segments coupled with the rise in government initiatives toward a cashless economy will be witnessed in the coming years. For instance, the Indian government’s initiative of demonetization has resulted in increased adoption of alternate payment modes among businesses. Similarly, several developing countries are adopting EMV chip card technologies. Moreover, several government administrations and international organizations are implementing regulations and security standards for improving the security in payment systems. Payment Card Industry (PCI) Security Standards Council is encouraging vendors to develop advanced security features for processing payments, thereby impacting the operations & sales of players.
Mobile POS terminals are expected to witness high adoption in the POS terminals market owing to their low cost, easy migration to EMV, reduced installation costs, enhanced customer experience, flexible payment processing, automated settlements, and increased sales opportunities. These advantages are encouraging industries to shift from traditional payment solutions to mobile terminals. In addition, these devices can integrate with screen terminals & barcode scanners and provide backup and data restore features. Moreover, software developers are introducing these devices with functionalities of cloud data backup, managing, & reporting of consumer data, inventory management, and sales transaction control.
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Software solutions are witnessing rapid adoption in the POS terminals industry owing to innovations in cloud computing and increased requirement of such solutions for enhancing hardware compatibility and accessibility of different components integrated into the system. These software solutions offer flexibility for real-time viewing of productivity reports and simplify various business functions such as order & customer management, stock reporting, and staff engagement, resulting in increased adoption. Moreover, manufacturers are developing advanced software solutions to help businesses perform multiple tasks with the incorporation of a single POS system.
POS Terminals Market Statistics, By Component
1.1 Oint of care terminal market component trends
1.2 Hardware
1.2.1 POS terminal hardware market, 2014 - 2025
1.3 Software
1.3.1 Global POS terminal software market, 2014 – 2025
1.4 Services
The traditional POS terminals market accounted for majority of the industry share compared to biometric POS terminals. These devices allow businesses to store data in a local server and run applications on a closed internal network. They offer higher-end functionalities, such as Customer Relationship Management (CRM), data analytics, and inventory management, driving the adoption of these terminals in several industry sectors. The retail industry is mainly adopting these devices due to increasing incidents of hacking in mPOS terminals, leading to increasing cost in terms of payment security and brand image. Moreover, less battery life to support payment transactions in mPOS terminal is limiting its adoption among various industries.
Browse key industry insights spread across 340 pages with 491 market data tables and 39 figures & charts from the report, “POS Terminals Market Size By Product (Mobile, Fixed), By Component (Hardware, Software, Service), By Technology (Biometric, Traditional), By Operating System (Windows, Linux, MAC), By Application (Restaurants, Hospitality, Healthcare, Retail, Warehouse/Distribution, Entertainment), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/point-of-sale-pos-terminals-market
The North America point of sale terminals market is expected to witness high demand owing to the significant growth of retail outlets, casinos, restaurants, and the booming tourism sector. The adoption of advanced payment systems is increasing in several industrial verticals across the region. Manufacturers are focusing on offering innovative solutions for the retail industry, which is the fastest growing application segment in the region. Additionally, the high availability of advanced technology is predicted to drive industry growth. Several companies are collaborating with payment service providers for providing advanced & secure payment solutions to customers. For instance, in July 2017, Samsung Group announced its collaboration with PayPal Holdings Inc. to provide easy payment access to its users across the U.S.
Players in the POS terminals market are experiencing intense competition due to the lack of differentiating products, encouraging them to focus on technological developments and pricing strategies to remain competitive in the market. Some of the key players are Ingenico Group, Micros Systems, Inc., Epicor Software Corporation, NCR Corporation, LS Retail, Bucher Industries AG, Cybernet, Panasonic Corporation, Bitel Co., and Cegid Group.
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mPOS Terminals Market Share 2025: The surge in volume of card transactions is expected to favorably impact mPOS terminal industry growth. The decline in the average selling price of tablet devices over the past few years has resulted in a sharp growth across regions including China, India, Brazil, and Mexico. Tablets/smartphones can also be converted into payment terminals through mobile apps and the use of sleeves or dongles for card swipe.
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.