Dublin, Oct. 15, 2020 (GLOBE NEWSWIRE) -- The "Point Of Sale (POS) Terminals Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2020 To 2028" report has been added to ResearchAndMarkets.com's offering.
The Point-of-Sale terminals market was valued at US$ 68.20 Bn in 2019 and is expected to reach US$ 149.35 Bn by 2028, expanding at a CAGR of 9.1% from 2020 to 2028.
The Point of Sale (POS) terminal market has witnessed a dramatic turn-around and development with the advancement in technology and growth of POS terminal solutions. The POS terminals are slowly and steadily migrating towards digital format, with e-mailed receipts and electronic signature capture enabling paper free transactions. Increased adoption of credit and debit cards coupled with the escalating demand for POS terminals is driving the overall POS terminals market.
In addition, advancements in payment technologies and move towards EMV (Europay, MasterCard, Visa) chip card payment is expected to fuel market momentum in the coming years. These factors are cumulatively expected to contribute towards a compounded annual growth rate (CAGR) of 9.1% during 2020 - 2028. In recent years, the POS terminals market had been plagued by privacy and security concerns related to data breaches.
However, migration of the global payments industry towards more secure chip card technology is expected to subdue the impact of this challenge during the forecast period.
The POS terminal industry in recent years has witnessed a dramatic turn-around and development with the advancement in technology and the growth of mobile POS terminal solutions. The POS terminals are slowly and steadily migrating towards a digital format, with e-mailed receipts and electronic signature capture enabling paper free transactions. Earlier when POS systems were positioned as only a sales processing devices, there laid little opportunity to add value beyond the basic system.
However, today's advanced POS systems are capable of handling a wide range of payment options such as digital payments and are able to play a crucial role not just in boosting sales but also in pricing, marketing, inventory control, property management, customer service, security, and digital signage among others. The introduction of chip-embedded payment solutions and personal identification number (PIN) is expected to minimize security concerns pertaining to data theft, further expanding the POS terminal's demand.
Today, there are large numbers of software vendors developing software for POS systems. With the advent of mobile terminals and cloud computing, software-as-a-service based POS systems capable of being accessed directly from the Internet is witnessing robust growth. The POS industry continues to grow as businesses across the globe increasingly realize the value to be gained by deploying the advanced POS systems.
Low upfront and installation cost and availability of leasing options in most cases are expected to sustain healthy growth in the coming years. These dramatic changes in the POS industry and capabilities of systems have had a huge impact on how POS vendors work with their customers.
Key Topics Covered:
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Market Dynamics
3.2 Market Inclination Insights
3.2.1 Steady Shift from Hard Currency Transactions to Cashless Transactions
3.2.2 Mobility Revolution
3.2.3 Cloud-based and Android POS Systems
3.2.4 Opportunity to Add Value and Loyalty Options
3.3 Market Drivers
3.3.1 Compliance with EMV Regulation to Create Replacement Demand
3.3.2 Increased Adoption of Credit and Debit Cards Fuelling Market Growth
3.3.3 Growing Demand for Mobile POS Terminals to Drive Market Growth
3.3.4 Enhanced Features and Lower Total Cost of Ownership (TCO) to Drive Demand in SMBs
3.4 Market Growth Inhibitors
3.4.1 Security Concerns Related to Data Breaches Inhibiting the Widespread Adoption of POS Terminals
3.4.2 Lack of Standard Platform
3.5 See-Saw Analysis
3.5.1 Impact Analysis of Drivers and Restraints
3.6 Attractive Investment Proposition
3.7 Competitive Analysis
3.7.1 Market Positioning of Key Vendors
Chapter 4 Global POS Terminals Market Analysis, By Product Type
4.2 Comparative Analysis
4.3 Fixed POS Terminals
4.4 Mobile POS Terminals
Chapter 5 Global POS Terminals Market Analysis, By Component
5.2 Comparative Analysis
5.4 Software AG
Chapter 6 Global POS Terminals Market Analysis, By End-use
6.2 Comparative Analysis
6.9 Others (Transportation, Government, etc.)
Chapter 7 North America POS Terminal Market Analysis
Chapter 8 Europe POS Terminal Market Analysis
Chapter 9 Asia Pacific POS Terminal Market Analysis
Chapter 10 Rest of the World (RoW) POS Terminal Market Analysis
Chapter 11 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/mps4pn
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