The Global POS System Market Report Forecast 2021 – 2025 offers a clear understanding of the subject matter. The report has been gathered using principal and subordinate research methodologies. Both these methods are directed towards cooperating accurate and meticulous data concerning the market dynamics, historical events, and the current market landscape. Additionally, the report also includes a SWOT analysis that concludes the strengths, weaknesses, opportunities, and threats impacting the segments of the overall market. The report also takes into account the impact of the COVID-19 and also forecasts its recovery post-COVID-19.
The POS System market was valued at USD 15.64 billion in 2019 and is expected to reach USD 29.09 billion by 2025, at a CAGR of 10.9% over the forecast period 2020 – 2025.
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Top Key Players in the Global POS System Market: Seiko Epson Corp., – Samsung Electronics Company Ltd., – Ingenico SA, – VeriFone System Inc., – Micros Retail Systems Inc. (Oracle), – Hewlett Packard Enterprise, – Panasonic Corporation, – Honeywell International Inc., – NEC Corporation, – PAX Technolo
Key Market Trends
mPOS Segment Have the Ability to Create New Channels for Revenue growth
– Mobility in POS is significant, but it takes on various forms, and the retailer requires to determine the best ROI. Handheld devices, like the Apple iTouch, as well as tablet computers are being fastened to shopping carts. Mobile devices not only allow firms to promote and sell products, but they also are promoting mobile commerce the capability to utilize the smart device to electronically pay for orders, using multiple payment systems, such as Apple Pay.
– Ever-changing customer expectations, a growing number of debit/credit card transactions, and advanced data analytics are projected to feed demand for these devices. Mobile checkout is witnessing an uptick in India. According to RBI, 3.2 million PoS devices are installed in the country of which 2.0 Million are GPRS-enabled, while the remainder are mPOS systems. Additionally, merchant-cashflow based lending is driving mid-end adoption.
– Paper-free receipt services, enhanced security, available floor space, and decreased customer wait time are other determinants driving the segment growth.
The report offers an in-depth assessment of the growth and other aspects of the POS System market in important countries (regions), including:
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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Europe Estimated to Play a Dominant Role in POS System Market
– European Association for Secure Transactions (EAST) estimated that, as of 31 December 2018, the number of POS terminals deployed in Europe, reached a staggering amount of 13,972,336. In 2018, the survey of collecting data for the POS terminal numbers in Europe was conducted for the first time, by EAST. It was observed that the POS (point of sale) terminals were the most widely deployed, in terminal type.
– According to EAST, a decline in the number of ATMs has been noticed in the European region. EAST has estimated that there were 406,532 ATMs in Europe, a 2% decrease from the 2017 total. In many European countries, ATM numbers are declining as non-cash payments are preferred as a better mode of payment than its alternative, cash payments. This has contributed significantly to the POS Terminal market.
– With the decline in the number of ATMs in the Europe region, a substantial boost in the adoption of POS Terminal is noticed as the preferred alternative. According to the European Central Bank, the total number of POS Terminals in the European Union has noticed a steady growth, recording 13,549.4 (in thousand) in 2017, in comparison to 12,330.6 (in thousand) in 2016.
– The growing popularity of contactless cards suggests that European residents are striving for contactless payments, such as wearable payment technologies (mobile phones, watches, wristbands, stickers, etc.). New research from MasterCard supports the rise of contactless usage across Europe, with a 97% increase in contactless transactions, year-to-date. The recent data also shows that the European countries are dramatically shifting their consumer behavior to embrace contactless technology with some countries, such as Poland, where contactless transactions are over 80% year-to-date.
This POS System Market report addresses:
– The Market size from 2015-2020
– Expected market growth until 2025
– Forecast of how market drivers, restraints, and future opportunities will affect
– Segment and regions that will drive or lead market growth and why
– Comprehensive mapping of the competitive landscape
– In-depth analysis of key sustainability strategies adopted by market place
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– The market estimate (ME) sheet in Excel format
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Covid-19 Impact Analysis:
All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain have been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check with the sales team.
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