Retail Point-of-Sale (PoS) Terminals Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Retail Point-of-Sale (PoS) Terminals Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : October, 2020 | Semiconductor & Electronics | PPT format

Report Digest


Global Retail Point-of-Sale (PoS) Terminals Market: Snapshot

A point of sale, or PoS, is a record of a location and time where a transaction occurred. At the PoS, a consumer must pay the amount that is owed by him to the merchant or vendor, at which point the merchant can prepare and invoice for the consumer. The merchant may also provide multiple forms of payment options to the consumer based on availability or need. On a macro scale, a point of sale could be classified as an entire mall, a market, or even a city. The micro scale of point of sales commonly refers to the merchant or a small location or shop. Points of sale can also be classified into real or virtual, with the former including brick and mortar constructions such as stores or malls. Virtual points of sale are present in the ecommerce industry, where a trader or retailer may sell goods and carry the transaction out electronically over the Internet or the phone.

A point of sale terminal in a very rudimentary sense, is a replacement for the traditional cash register. The terminal is generally computerized and is placed to automatically do what manual labor can, and then some. PoS terminals of today are far more complex pieces of technology than registers from even nearly a decade ago. Modern point of sale terminals are able to manage inventory, communicate with systems within a network, process and record payments, and track customers.

Global Retail Point-of-Sale (PoS) Terminals Market: Overview  

A point-of-sale (PoS) terminal is a computerized alternative for a cash register. The PoS system, a combination of hardware and software, can process debit and credit cards, is able to track and record customer orders, and can connect to other network systems. Generally, a PoS terminal relies on a personal computer that has application-specific programs along with I/O devices for that particular work environment.   

The demand for these systems is slated to soar as they are closely integrated with software systems such as inventory, warehouse, supply chain, purchase order, marketing, merchandise planning, and so on. 

Global Retail Point-of-Sale (PoS) Terminals Market: Key Trends             

As these devices save a lot of time, money, and effort, apart from being highly efficient, more business organizations, restaurants, banks, hotels, departmental store, super- and hyper- markets, and online vendors have been adopting these systems. Lower maintenance costs, real-time inventory, and accurate transactions are some of the key advantages of these systems. Therefore, retail PoS terminals are likely to witness considerable growth. One of the prominent trends is the increased use of smartphones and tablets for making online payments owing to easy usage and wide range of service offerings such as discount coupons and offers. 

Global Retail Point-of-Sale (PoS) Terminals Market: Market Potential   

Although India has been increasingly deploying PoS terminals in areas such as banking and public transport systems, the launch of QR-based payment system is likely to restrict the growth of the retail PoS terminals market in the region. Unlike the PoS terminal system, a QR-based payment system enables vendors and merchants to avoid the payment of transaction fees to banks. 

However, the launch of new technologies is likely to negate the effect of the aforementioned restraint. For instance, a fully-integrated EMV enabled solution, designed especially for the hospitality industry has been launched by Sterling Payment Technologies, a leading company that provides payment processing services. The product was launched in partnership with a firm that caters to point-of-sale solutions to restaurants, RPOWER Point of Sale.   

Moreover, the IRIS EMV Point-of-Sale terminal solution launched by YES Bank in 2016 deploys “Ola Play”, the premier connected mobility platform powered by Snapdragon processors.

Global Retail Point-of-Sale (PoS) Terminals Market: Regional Outlook   

High rates of adoption of mobile devices in Asia Pacific countries such as India and China are responsible for the growth of the retail PoS terminals market in this region. As numerous customers choose to make mobile payments, the markets in Latin America, Africa, and the Middle East are likely to exhibit increasing demand, boosting the expansion of the global retail PoS terminals market. The retail PoS market in the U.S. has been escalating to a substantial degree, as the government has issued stringent regulatory policies regarding the deployment of PoS terminals and their upgrading. 

Global Retail Point-of-Sale (PoS) Terminals Market: Competitive Analysis   

Some of the major companies operating in the global market for retail point of scale terminals are MICROS Systems, PAX Technology, VeriFone Systems, Cisco Systems, Panasonic, Ingenico, Samsung Electronics, Toshiba, and HP. 

Several market players are resorting to partnerships, acquisitions, and mergers in order to expand their customer base. For example, in July 2016, iQmetrix collaborated with Ingenico for supplying EMV-enabled terminals to retailers in the U.S. Another company, VeriFone signed an agreement with InterCard AG, a German company that provides payment services, with a view to acquire the firm. This will aid both the firms in gaining a strong foothold in the market.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?