Market Study Report LLC has a newly added “Global POS Terminals Market Report” that gives meticulous investigation of current scenario of the market size, share, demand, growth, trends, and forecast in the coming years.
Delaware, Selbyville – November 28, 2019 /MarketersMedia/ —
The demand for mobile POS terminals is expected to increase owing to enhanced features such as better user experience, flexibility, ease in accessibility, and mobility. These terminals provide cost-effective benefits to various industrial sectors. The retail and hospitality sectors are increasingly adopting these terminals owing to enhanced ROI and demand for customer analytics features. Retail stores are widely implementing tablet POS terminal as it enables fast payment processing and helps in reducing installation costs.
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POS Terminals Market is expected to exceed USD 140 billion by 2025. Rising technological advancements and increasing adoption of advanced payment solutions in several industrial sectors such as healthcare, BFSI, retail, hospitality, and others will drive the industry growth.
– Manufacturers are focusing on developing smart payment solutions for specific industrial purposes. For instance, Ingenico Group is offering a POS system for the retail industry, which easily accepts all payment methods and helps retailers to increase conversion rate and customer experience.
– Increasing number of cashless transactions in emerging economies will positively impact the POS terminals market growth. Among advanced economies, Sweden and South Korea are increasingly shifting to a cashless society.
– Europe industry growth is largely attributed to the rise of e-commerce transactions in the region, primarily in the UK, France, and Germany
– Rise in the adoption of smartphones and government efforts for digitization are encouraging economies to adopt digital payment methods
– These terminals allow customers to make payment transaction using credit and debit card payments through an EMV chip. With the increasing adoption of cashless payments in several economies, the POS terminals market is expected to witness considerable growth in the coming years.
Biometric technology is expected to witness high growth in the POS terminals market owing to its ability to provide secure payment solutions and convenience to customers. Several financial organizations are widely adopting these terminals to strengthen security and reduce payment frauds. In addition, these systems help to make quick check-outs at cash counters and improve payment process in retail outlets. China, India, Japan, and the U.S. are experiencing high adoption of biometric POS devices owing to rapid technological advancements in the payment industry.
Windows OS will witness high demand in the POS terminals market owing to increased reliability, ease of use, security, and multilingual features. Several manufacturers have designed these systems to run on Windows OS. For instance, Touch Dynamic, a manufacturer of electronic devices is offering retail POS systems compatible with Windows 10 for proper operation of these devices. Moreover, the software is being updated consistently for improving functionalities with POS devices. For instance, in April 2018, Microsoft Corporation released an updated & secured version of Windows 10, which included 20% reduction in system stability issues in OS and reduction in driver stability issues.
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Point-of-sale terminals are experiencing high demand in the warehousing and logistics industry sector owing to their ability to effectively manage inventory and distribution operations for improved margins. These terminals provide order and work planning tools to maximize production efficiency. These terminals also provide intangible stock control for warehouse operations such as order receipt, production, shipment, and delivery. Several companies are developing POS software specific for the logistics and warehousing industry for helping them to deliver high-value services to customers.
The key players operating in the POS terminals market are Panasonic Corporation, Toshiba Corporation, PAX Technology, NEC Corporation, POS Direct Ltd., NCR Corporation, VeriFone Systems, Inc., LS Retail, Ingenico Group, Diebold Nixdorf, Micros Systems, Inc., Bucher Industries AG, Cegid Group, Bitel Co., Epicor Software Corporation, and Cybernet. These players are introducing differentiated and innovative products to sustain in the highly competitive market. Moreover, the players are expanding across several countries with high economic developments and digital advancements.
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Related Report:
Restaurant POS Terminals Market Size By Product (Fixed POS Terminals, Mobile POS Terminals) By Component (Hardware, Software, Services) By Application (FSR [Fine dine, Casual Dine/Fast Casual], QSR, Bars & Pubs, Cafes & Bistros), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Russia, China, India, Japan, South Korea, Brazil), Growth Potential, Competitive Market Share & Forecast, 2018 – 2024
Restaurant POS Terminals Market is expected to exceed USD 25 billion by 2024. Manufacturers in the industry are engaged in offering application-based solutions consisting of several features that support restaurant operations. For instance, Lavu, Inc. is offering application-based POS solutions for bars, ice cream shops, food trucks, and pizza outlets, among others. These tools allow the staff to manage sales, inventory, and customer orders through a single solution. It helps companies to enhance their sales & productivity by reducing business expenses involved in incorporating multiple solutions for performing these operations. Such factors are predicted to accelerate restaurant POS terminals market growth.
https://www.marketstudyreport.com/reports/restaurant-pos-terminals-market?utm_source=RR-SP
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