MarketResearch.Biz announces publication of its most recently generated research report titled, “Global POS Terminals Market by Product type (Fixed POS Terminals, Wireless POS Terminals, and Mobile POS Terminals), By Application (Financial Institutions and Third-party Payment Institutions), and Region/Country – Global Forecast to 2027.”, which offers a holistic view of the global POS terminals market through systematic segmentation that covers every aspect of the target market. The first five-year cumulative revenue (2017–2021) is projected to be US$ 4,256.1 Mn, which is expected to increase moderately over the latter part of the five-year forecast period.
POS or point of sale terminals are computerized replacements for traditional cash registers, and have the ability to complete transactions, record and track customer orders, process credit and debit cards, connect to other systems in a network, and manage inventory
Global POS Terminals Market: Market Dynamics
Major factor driving growth of the global POS terminals market is POS terminals reduce chances of user errors as the software has built in checks to ensure that information entered is accurate and correct. In addition, POS terminals simplify the accounting process and maintains records of promotional offers, discounts, and points earned by frequent customers etc. in addition, increasing adoption of mPOS terminals that help to overcome shortcomings of fixed POS systems and bridge the gap between POS systems and e-commerce businesses. Using a mobile or a similar device as an alternate POS requires less up-front investment, and are comparatively less costly to repair or replace as compared to fixed POS systems. This factor is expected to support growth of the global POS terminals market.
Increasing adoption of cloud-based POS terminals in retails outlets, medical facilities, restaurants, conventional stores, supermarkets, etc., owing to easy operation and data security features are major factors expected to impel growth of the global POS terminals market over the forecast period. Furthermore, SaaS-based systems such as Springboard Retail, Toast, and Touchbistro help to provide better user interface and functionality to end users, and are gaining popularity in the retail sector is expected to boost the growth of the target market.
However, availability of substitute and data security are major factors expected to restrain growth of the global POS terminals market. In addition, maintenance costs of mPOS systems is expected to challenge growth of the global POS terminals market to certain extent.
Global POS Terminals Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global POS terminals market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global POS terminals market is expected to expand at a CAGR of 9.1% during the forecast period.
Global POS Terminals Market: Segmental Snapshot
The market report has been segmented on the basis of product type, application, and region/country. The product type segment includes fixed POS terminals, wireless POS terminals, and mobile POS terminals. The application segment includes financial institutions and third-party payment institutions. The regions/countries covered in the analysis are US, Europe, Japan, China, India, and Southeast Asia.
By Product Type: The fixed POS terminals segment accounted for highest revenue share contribution in 2017, as compared to other product type segments. The Fixed POS terminals segment is expected to register a CAGR of over 8.6% between 2018 and 2027
By Application: The financial institutions segment is projected to account for highest revenue share as compared to that of other application segments, and register a CAGR of around 9.1% over the forecast period.
By Region/Country: The market in China accounted for highest revenue share in the global POS terminals market in 2017, and is expected to register a CAGR of over 9.4% between 2018 and 2027.
You Can Request Demo Version of Report Before Buying Here: https://marketresearch.biz/report/pos-terminals-market/request-sample/
Global POS Terminals Market: Competitive Analysis
The research report on the global POS terminals market includes profiles of some of the major companies such as Ingenico Group, VeriFone, Inc., Fujian Newland Payment Technology Co., Ltd., Fujian LANDI Commercial Equipment Co., Ltd., Shenzhen Xinguodu Technology Co., Ltd., New Pos Technology Ltd., Bitel LLC, Cybernet Manufacturing, Inc., Castles Technology Co., Ltd., PAX Technology, Inc., and SZZT Electronics Shenzhen Co., Ltd.
The Global POS Terminals Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2018–2027 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global POS terminals Market for 2018–2027.