POS terminals market are penetrating various industrial sectors, including retail, hospitality, warehousing & logistics industry, etc. Hospitality and retail sectors, in particular, are increasingly adopting these terminals due to requirement for customer analytics and enhanced ROI. Retail stores are also implementing tablet POS terminal as it saves installation costs and enables fast payment processing.
POS terminals are experiencing high demand in warehousing & logistics industry as well due to their ability to effectively manage distribution & inventory operations for better margins. These terminals offer order & work planning tools to maximize production efficiency. POS terminals also provide accounts of unclear stock control for warehouse operations, including order receipt, production, shipment, and delivery.
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Increasing adoption of advanced payment solutions across various sectors, including retail, BFSI, healthcare, retail, etc. is likely to drive POS terminals market growth. These terminals allow customers to make payment transaction using debit or credit cards.
POS (point-of-sale) terminals are computers that run software designed to facilitate necessary operations at the point of sale. Depending on the need, a setting may have one or more POS terminals. These terminals usually consist of a receipt printer, card swiper, and a cash drawer. They are all connected to a single server, which provides centralized database for collecting information about all the transactions in a setting.
Rising technological advancements along with manufacturers’ focus on developing improved POS terminals will positively impact industry growth. Rise in cashless transactions in emerging economies, as well as developed nations, may also supplement POS terminals market share. POS Terminals Market size is forecast to cross the USD 140 billion mark by 2025.
Surging adoption of cashless payments in major economies is likely to increase implementation of POS terminals across various industry verticals. POS terminals offer flexibility, ease in accessibility, mobility, and a better user experience. In addition, governments in multiple countries are pursuing various strategies in area of digital payment methods to support digitalization, which is further supporting POS terminals market trends.
Against the backdrop of steady march towards a cashless economy, biometric POS systems have gained substantial relevance. Biometric technology in POS terminals provide secure payment solutions and convenience to customers. Financial organizations are progressively adopting biometric POS technology to strengthen their security and reduce payment frauds. Also, these systems improve payment process in retail outlets and aid quick check-outs at cash counters.
With a proliferating wave of digitalization, countries such as India, China, Japan, and the U.S. are exhibiting high adoption of biometric POS devices, majorly due to rapid technological advancements in the payment industry.
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Manufacturers in the POS terminals market are focused upon developing smart POS solutions as per the requirement of specific industries. For instance, a POS system for the retail industry has been developed by Ingenico Group. The POS system easily accepts all payment methods and helps retailers to increase conversion rate and enhance customer experience.
The key players contributing towards POS terminals market expansion include Panasonic Corporation, PAX Technology, Toshiba Corporation, NEC Corporation, NCR Corporation, POS Direct Ltd., VeriFone Systems, Inc., Ingenico Group, LS Retail, Diebold Nixdorf, Bucher Industries AG, Micros Systems, Inc., Cegid Group, Bitel Co., Cybernet and Epicor Software Corporation. These players are continuously launching differentiated and innovative products to sustain in the highly competitive market.
Table of Contents (ToC) of the report:
Chapter 4 POS Terminals Market, By Product
4.1 POS terminal market product trends
4.2 Fixed POS Terminals
4.2.1 Global fixed market, 2014 – 2025
4.3 Mobile POS Terminals
4.3.1 Global mobile market, 2014 – 2025
Chapter 5 POS Terminals Market, By Component
5.1 POS terminal market component trends
5.2 Hardware
5.2.1 POS terminal hardware market, 2014 – 2025
5.3 Software
5.3.1 Global POS terminal software market, 2014 – 2025
5.4 Services
Chapter 6 POS Terminals Market, By Technology
6.1 market technology trends
6.2 Biometric
6.2.1 Global biometric market, 2014 – 2025
6.3 Traditional
6.3.1 Global traditional market, 2014 – 2025
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