Selbyville, Delaware , April 05, 2022 (GLOBE NEWSWIRE) --
The Point of Sale Terminals Market size is anticipated to record a valuation of USD 160 billion by 2028, according to the most recent study by Global Market Insights Inc. The market growth can be attributed to the increasing use of online payments globally.
The entry of new companies will propel the point of sale terminals market. The participants are expanding their market presence in different regions to increase their customer base. For instance, in November 2021, Stripe introduced its POS terminal product portfolio in Germany, the UK, Ireland, France, and the Netherlands. It offers a link between online & offline payments, delivering a unified omnichannel payments platform for the merchants. The solution will allow the users to manage both in-person sales and e-commerce payments. The rise in the number of technology providers will increase the competition and the industry development.
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The service components of the point of sale terminals market will surge owing to the increasing concerns over data security breaches. This factor has encouraged the companies to upgrade their systems on a constant basis. In March 2022, Diebold Nixdorf and McDonald's Germany expanded their IT service partnership contract. Under the agreement, the company will offer commissioning, installation, and maintenance services for all the McDonald’s Germany restaurant upgrades or openings. The projects will be implemented and coordinated through its service partner, SOS Industries service GmbH. The partnership will allow the company in strengthening its positioning in Germany. The rising focus on avoiding the cybersecurity attacks leading to the exposure of confidential information will support the industry growth.
The introduction of new government regulations toward online payment for the entertainment sector will drive the POS terminals demand. In November 2021, Andhra Pradesh (AP) legislature passed a bill that made it compulsory for all the cinema theatres across the state to sell movie tickets only through the Government Company online booking platform. The aim of the act is to reduce tax evasion in the Telugu movie industry and properly monitor all the transactional activities of the sector. This will enforce the companies to implement POS terminals in their facilities to comply to the rules, thus supporting the point of sale terminals market progression during the forecast timeframe.
The rapid advancement in the IT & telecom sector in North America will fuel the POS terminals market opportunities. The government authorities are focusing on expanding the availability of internet connection to the population. For instance, in November 2021, the U.S. government unveiled the Bipartisan Infrastructure Deal, funding projects from different sectors for overall nation’s growth. Under this, the authorities have allocated approximately USD 65 billion to develop the existing broadband internet network. This will increase the accessibility of reliable high-speed internet to several citizens and businesses. The presence of affordable internet connection will support the rise in the number of online payments, in turn, driving the demand of POS terminals across different sectors.
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Some major findings of the point of sale (POS) terminals market report are:
- The growing demand for POS terminals across industries, such as hospitality, restaurants, and warehousing, will impel the market expansion during forecast period. The solutions will enable the facility owners in inventory management, maintaining transactional records, and remotely monitoring data.
- High focus of market leaders on introducing advanced solutions will augment the point of sale terminals market.
- The increasing regional government focus on digital economy will support the POS terminal adoption during the forecast timeframe. To reduce the dependency of cash and stimulate the transition into cashless economy, the government authorities are introducing new initiatives. This will encourage the merchants to install advanced POS systems to flourish in the evolving industry progression.
- The rising focus on improving the customer shopping experience will surge the POS terminals value in the retail sector. The store owners are integrating advanced payment solutions, enabling the consumer to complete the transaction seamlessly and eliminate the need for standing in a long queue for billing.
- The development of IT & telecom infrastructure across the globe offering stable and affordable internet connectivity will support the utilization of cashless payments. The rise in online payments will influence the industry revenue.
Table of Contents (ToC) of the report:
Chapter 3 Point of Sale Terminals Market Insights
3.1 Introduction
3.2 Impact of coronavirus (COVID-19) pandemic
3.2.1 Global outlook
3.2.2 Regional outlook
3.2.3 Industry value chain
3.2.3.1 Research and development
3.2.3.2 Marketing
3.2.3.3 Supply
3.2.4 Competitive landscape
3.2.4.1 Strategy
3.2.4.2 Distribution network
3.2.4.3 Business growth
3.3 Industry ecosystem analysis
3.3.1 Raw material suppliers
3.3.2 Component suppliers
3.3.3 Manufacturers
3.3.4 Service providers
3.3.5 System Integrators
3.3.6 Distribution channel analysis
3.3.7 End-use landscape
3.3.8 Vendor matrix
3.4 Technological & innovation landscape
3.4.1 Biometric recognition technology
3.4.2 Countertop POS
3.4.3 Wireless POS terminals
3.4.4 Connected vs. standalone POS terminals
3.4.5 IoT technology
3.4.6 Smart card/EMV chip card capabilities
3.4.7 NFC technology
3.4.8 PIN on glass
3.5 Regulatory landscape
3.6 Investment portfolio
3.7 Industry impact forces
3.7.1 Growth drivers
3.7.2 Industry pitfalls & challenges
3.8 Growth potential analysis
3.9 Porter’s analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/point-of-sale-pos-terminals-market
About Global Market Insights Inc.
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.
