Dublin, Jan. 24, 2024 (GLOBE NEWSWIRE) -- The "United States POS Terminals Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.
The detailed analysis of the United States POS terminals market, highlighting significant growth trends and forecasts for the period 2023-2028, has been recently published. This comprehensive study reveals a substantial increase in market size, with figures climbing from USD 24.63 billion to an impressive USD 37.53 billion over the forecast period.
As POS terminal systems evolve beyond simple transactional operations to more interactive solutions integrated with CRM and other financial frameworks, the report underscores the instrumental role of innovation in managing revenue streams and inventory for businesses. The study showcases the manifold advantages of modern POS systems, ranging from lower maintenance costs and precise transactions to real-time inventory management, driving businesses to transition from outdated billing software to advanced POS systems.
Highlights of the United States POS Terminals Market Study
- Consumer spending surge, per the US Bureau of Economic Analysis, underscores the direct correlation between increased POS terminal demand and convenient payment solutions.
- Credit cards emerge as the dominant POS payment method post-COVID-19, with 40% of POS payments in 2022 being made via this channel, followed by debit cards and cash.
- E-commerce sales growth, as reported by the Department of Commerce, fuels the demand for mobile POS terminals catering to the penchant for doorstep payment conveniences.
- Cloud computing's advent in POS systems promises a transformative market outlook, thanks to the secure, remote management of data on vendor servers.
- Security remains a pivotal concern hindering market growth, with POS terminals' network connectivity exposing them to potential cyber threats.
The report suggests that despite pandemic-induced changes ushering in a higher acceptance of digital payments, the potency of POS systems in the United States advances with calibrated regional development and a focus on enhancing international payment efficiency.
Growth in Retail Segmentation
Significant growth is expected within the retail segment, one of the prominent users of POS terminals. The report indicates a rise driven by the reopening of physical retail outlets and an unbiased consumer demand for a frictionless retail experience. The need for sophisticated POS systems capable of mapping consumer behavior and facilitating loyalty programs has accelerated the retail sector's growth in the POS terminals space.
The Rise of Mobile/Portable Point-of-sale Systems
The mobile point-of-sale (mPOS) segment is expected to capture a formidable market share, the adaptation of mobile devices for efficient payment processing signifying a shift towards more flexible and dynamic customer-service interactions. The report highlights recent technological advancements, including the launch of innovative mPOS applications that transform smartphones into versatile payment terminals.
Competitive Landscape of the US POS Terminals Market
The study outlines a moderately fragmented market, with the presence of major industry players driving competition and innovation. Several strategic partnerships and alliances are anticipated, as companies aim to enhance customer reach and capture a more significant market share. Recent rebrands and partnerships reflect a dynamic industry intent on refining payment solutions and fostering customer convenience.
This insightful market analysis offers a unique view of the trends, opportunities, and challenges shaping the future trajectory of the United States POS terminals market. With analyst support and an Excel format market estimate sheet included, this publication provides essential intelligence to industry stakeholders.
A selection of companies mentioned in this report includes
- VeriFone System Inc.
- Ingenico Inc.
- BBPOS Limited
- Castles Technology
- NEC Corporation
- PAX Technology Ltd
- USA Technology
- DSpread
- SZZT
- Square
For more information about this report visit https://www.researchandmarkets.com/r/qq9u6z
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
