Sellbyville, Delaware, Nov. 13, 2018 (GLOBE NEWSWIRE) -- POS Terminals Market is slated to attain 13.5% growth rate to reach USD 125 billion by 2024. A rise in the demand for effective, reliable, user-friendly, and quick payment solutions is encouraging the developers to manufacture products that will cater to the needs of the customers. The products offered by these players are enhancing the payment techniques and are experiencing a high adoption rate.
Software solutions are experiencing a high demand, thus propelling the POS terminals market growth. The growing adoption of these solutions in the restaurants and retail sector is encouraging the developers to provide software, which will be specific to these industries.
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Mobile terminals are predicted register approx. 20% CAGR in the POS terminals market over the coming years owing to a rise in the adoption smartphones and the features they provide. Manufacturers are developing products, which can be connected to the mobile phones for providing payment services. Several advantages of these devices that are propelling the adoption of these devices include improved security, efficient & accurate transactions, ease of accepting mobile wallet payments, and customer experience improvements. Several major players are developing these products to cater to the ever-increasing demands of the customers.
The retail sector is getting more organized across the world, which will provide impetus for the POS terminals market growth over the next few years. This is due to the development of customized devices by the vendors to offer real time dashboard options, user profiles for different users. Such functionalities enable the retailers to streamline the workflow, thereby boosting sales and profits.
The healthcare application segment in (point of purchase) POP terminals market is expected to witness high growth opportunities owing to the rising need to streamline payment practices which is determined to drive the market demand. The systems are enabling the exchange of healthcare data which includes administrative, clinical and financial data, through a secure and safe infrastructure. With the rise in high deductible insurance plans, and the patients desire to negotiate healthcare costs in real-time it has led to an increased number of card-based payments by patients thereby fueling the system installations at healthcare institutions and providing a growth impetus to the point of sale terminals market.
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Asia Pacific POS terminals market is experiencing a high demand for these solutions and software owing to a rise in the adoption of the hardware solutions. These products include mobile devices and terminals, which are experiencing a high demand in restaurants. The applications of these products at food points are encouraging the developers to provide them restaurant solutions to manage their operations and tasks. Countries including India and China have a strong presence of the POS terminal market players, which are generating a high demand for these solutions and software.
The key players operating in the (point of purchase) POP terminals market are Bitel Co., Castles Technology, CitiXsys, Inc., Fujian Newland, Ingenico Group, LS Retail, Micros Systems, Inc., NCR Corporation, NEC Corporation, PAX Technology, Toshiba Corporation, and VeriFone Systems, Inc., among others.
The players are competing based on the requirements and demands of the customers from several industrial sectors. Technological advancements by industry players in the POS terminals market are growing at a rapid pace. Several strategies are being adopted by the players including mergers, acquisitions, product differentiation, and new product developments.
Browse key industry insights spread across 280 pages with 211 market data tables & 81 figures & charts from the report, “(Point of Sale) POS Terminals Market Size By Application (Entertainment, Healthcare, Hospitality, Retail, Warehouse), By Product (Mobile, Fixed), By Component (Software, Hardware), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Russia, South Korea, China, India, Japan, Brazil), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 - 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/point-of-sale-pos-terminals-market
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