The "Point of Sale Terminals Market - Growth, Trends, and Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The point of sale terminal market is expected to register a CAGR of 20% during the forecast period of 2020 to 2025.
The POS terminal market has grown significantly over the past few years, owing to its ability to offer an increased return on investment and ease of access. POS systems that facilitate transactions from the central component of businesses across industries, like retail, hospitality, transportation, and banking, have gained importance in companies of small and big sizes, over the years.
POS terminal systems evolved from being transaction-oriented terminals/devices to systems that can integrate with the company's CRM and other financial solutions. This evolution, thus, empowered the end-users with business intelligence to better manage their revenue streams and inventory. With the functional benefits that the advanced POS systems offer, companies have replaced their traditional billing software with POS systems, thus, securing the growth of the POS system market.
The rising financial frauds across the world have influenced the government regulatory bodies to secure payment transactions over the past few years. With customers demanding safe and reliable digital transactions, the need for using secure payment processes has increased. These regulatory bodies, therefore, have impacted the adoption of POS terminals in a positive manner. With the increasing mobility trends across the world, mobile POS systems are gaining traction. With the advent of cashless transactional technologies, POS has witnessed an increase in adoption rates.
The growth in e-commerce and the entangling of the brick-and-mortar and online retail practices are expected to affect the future growth of the terminals and face-to-face outlets. With the option of cash on delivery, provided by the major e-commerce platforms, a sudden surge in the adoption of mobile POS terminal has been noticed.
Due to the coronavirus pandemic, android-based POS terminals, which are almost solely manufactured in China, are most affected. Moreover, there is a shortage of swipe machines to process digital payments at retail outlets.
Coronavirus can be transmitted via payment terminal buttons. This is the reason to keep the POS terminals clean from time to time. PAR, a subsidiary of Par Tech Technology Corporation, recently advised restaurant operators to keep POS terminals clean as the company is willing to protect customers and employees from the coronavirus outbreak.
Key Market Trends
Fixed Point of Sale to Drive the Growth of Market
The fixed point of sale (POS) system is considered as the best choice for many merchants for their business operations. Consequently, there are many advantages of choosing an Android-based Fixed point of sale POS hardware.
Zebra Technologies offer a fixed point of sale solutions to keep transactions fast and accurate, and lanes are flowing smoothly with scanners that help cashiers to scan items of all sizes that can read barcodes in nearly any condition.
Fixed POS solutions are used as they give any business the benefit of a more robust management solution, including inventory management, robust business functionality, a cash drawer, employee time clocks, and the capability to manage loyalty programs and gift cards. Moreover, this traditional form of technology has been around for decades and has been the most recognized and accepted way in the past to process cash payments, check, and credit/debit cards.
95% of brick-and-mortar stores process payments that take place with fixed POS solutions, and mobile POS solutions considered as enhancements, and not a replacement, for the traditional POS. Moreover, businesses would excel better with fixed POS solutions than mobile, as they offer robust features and are more familiar to the average employee.
Fixed POS solutions still serve a prominent purpose within brick-and-mortar stores and contain a more comprehensive business management solution for merchants desiring a product with robust features.
The point of sale terminals market is highly fragmented with the presence of a large number of players that occupy around half of the market share. Moreover, these players are investing large amounts of money on R&D activities to introduce innovative payment technologies in the market. Strict government regulations and policies in several countries will drive the market, making it more attractive and competitive. Some of the key developments in the market are:
November 2019 - NCR Corporation announced the acquisition of POS Solutions, the leading point-of-sale and restaurant solutions provider in central Texas. Bringing POS Solutions into the NCR family aligns with its strategy to increase it's capabilities to deliver its solutions and serve its customers in thriving local restaurant markets, like Austin.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.3 Market Drivers
4.3.1 System Developments for Ease of Use and Increased Efficiency
4.3.2 Increasing Demand for Mobile POS Terminals and Wireless Communication Technologies
4.4 Market Restraints
4.4.1 Data Security Concerns, Internet Connectivity Issues and Technical Hindrances
4.5 Market Opportunities
4.6 Assessment of Impact of Covid-19 on the Point of Sale Terminals Market
5 MARKET SEGMENTATION
5.2.1 Fixed Point of Sale Terminals
5.2.2 Mobile/Portable Point of Sale Terminals
5.3 End-user Industry
5.3.5 Other End-user Industries
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Hardware Vendors
188.8.131.52 Seiko Epson Corp.
184.108.40.206 Samsung Electronics Co. Ltd.
220.127.116.11 Ingenico SA
18.104.22.168 VeriFone System Inc.
22.214.171.124 Micros Retail Systems Inc. (Oracle)
126.96.36.199 Hewlett Packard Enterprise
188.8.131.52 Panasonic Corporation
184.108.40.206 Honeywell International Inc.
220.127.116.11 NEC Corporation
18.104.22.168 PAX Technology
22.214.171.124 Casio Computer Co. Ltd
126.96.36.199 NCR Corporation
188.8.131.52 Newland Payment Technology
184.108.40.206 NEXGO (Shenzhen Xinguodu Technology Co.,Ltd)
220.127.116.11 Toshiba Global Commerce Solutions
18.104.22.168 Fujitsu Ltd.
22.214.171.124 Dell Corporation
126.96.36.199 Diebold Nixdorf
6.1.2 Software Vendors
188.8.131.52 NCR Corporation
184.108.40.206 Cow Hills Retail BV
220.127.116.11 Ctac NV
18.104.22.168 Agilysys Inc.
22.214.171.124 GK Software SE
126.96.36.199 Infor Inc.
188.8.131.52 Aptos Inc.
184.108.40.206 PCMS Group Ltd.
220.127.116.11 Cegid Group
18.104.22.168 Toshiba Tec Corporation
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/jney1f
View source version on businesswire.com: https://www.businesswire.com/news/home/20201023005161/en/
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