New York, NY, April 10, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Point-of-Sale (POS) Terminals Market By Type (Fixed POS Terminals and Wireless and Mobile POS), By Component (Hardware and Software) for Restaurant, Hospitality (Lodging), Healthcare, Retail, Warehouse/Distribution, Entertainment and Others - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 – 2022”. According to the report, the global Point-of-Sale (POS) terminals market was valued at approximately USD 45.97 billion in 2016 and is expected to reach approximately USD 98.27 billion by 2022, growing at a CAGR of around 13.5% between 2017 and 2022.
The point of sale (POS) terminal is a combination of hardware and software which allows retail locations to accept card payments without updating cash registers to read cards directly. It is an electronic device that is used to process card payment at any retail location. Installation cost of point of sale terminals depends on the size of the business. Small business merchants may have to pay rent for the terminal along with an additional fee on per transaction.
Browse through 29 Tables & 26 Figures spread over 110 Pages and in-depth TOC on “Point-of-Sale (POS) Terminals Market By Type (Fixed POS Terminals and Wireless and Mobile POS), By Component (Hardware and Software) for Restaurant, Hospitality (Lodging), Healthcare, Retail, Warehouse/Distribution, Entertainment and Others - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 – 2022”.
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POS read information of customer’s credit and debit card then check whether sufficient fund is available in the account or not. After that transfer, the fund from customer’s account to seller’s account and then records the transaction and provides a print receipt. POS terminal offers various benefits such as simplification of the accounting process, easy to look up past transactions, the creation of purchase orders, old-fashioned faster old-fashioned cash registers; It also helps to cut down on user errors. These different benefits offered by POS terminals are the key drivers of this market growth. Additionally, high adoption of POS terminal in many sectors such as retail, healthcare, warehouse/distribution, government, manufacturing, and others help to drive the point-of-sale terminal market. However, security concern associated with this technology can impact the growth of the market.
The point of sale terminals market is segmented on the basis of product, component, region, and application. Product segment includes fixed POS terminal & wireless and mobile POS terminal. Wireless and mobile POS is dominating segment as it helps business to improve operational efficiency and increase revenue through faster order processing, improved order accuracy, increased productivity and more efficient customer checkout. Wireless and mobile POS terminal were followed by fixed POS terminal due to its maximum durability.
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On the basis of component segment point of sale terminals market segmented as hardware and software. These are the key components which are used in the point-of-sale (POS) terminal. Due to increasing demand from retail businesses and hospitality the POS software segment is expected to reveal high growth over the forecast period. Application segments of the market include retail, hospitality, healthcare, warehouse, entertainment, and others.
Different applications of this market include retail, hospitality, healthcare, warehouse, entertainment, and others. The retail segment is dominating the market due to the high & low volume of transaction. It simplifies the accounting process, easy to look up past transactions, create purchase orders, provide faster service than old-fashioned cash registers, and it can cut down on user errors.
On the basis of component segment point of sale terminals market segmented as hardware and software. Due to increasing demand from retail businesses and hospitality the POS software segment is expected to reveal high growth over the forecast period.
Browse the full "Point-of-Sale (POS) Terminals Market By Type (Fixed POS Terminals and Wireless and Mobile POS), By Component (Hardware and Software) for Restaurant, Hospitality (Lodging), Healthcare, Retail, Warehouse/Distribution, Entertainment and Others - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 – 2022" report at https://www.zionmarketresearch.com/report/point-of-sale-terminals-market
Regional Segment includes North America, Europe, Asia Pacific, Latin America, Middle East and Africa. POS terminals market was dominated by North America due to high demand for POS terminals from the retail and hospitality sectors in the region and high technology adoption rate.
North America is followed by Europe. The countries from the Asia Pacific such as India and China focused on account of the proliferation of retail stores are expected to show tremendous demand for POS terminals in near future. Asia Pacific is expected to grow at the fastest CAGR. This market has high growth potential in the forecast period due to its efforts towards the cashless economy and government support towards digitalization. In addition, high adoption of POS terminal in many sectors such as retail, healthcare, warehouse/distribution, government, manufacture, and others will help to drive the point-of-sale terminal market in this region.
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Key industry participants in global Point of sale terminals market include Cisco Systems, Inc., MICROS Systems, Inc., Hewlett-Packard Company, Panasonic Corporation, Toshiba Corporation, PAX Technology Limited, Samsung Electronics Co., Ltd., NEC Corporation, and VeriFone Systems Inc.
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The report segments global point-of-sale (POS) terminal market into:
Global Point-of-sale (POS) Terminals Market: Product Segment Analysis
- Fixed POS Terminal
- Wireless and Mobile POS Terminal
Global Point-of-sale (POS) Terminals Market: Component Segment Analysis
- Hardware
- Software
Global Point-of-sale (POS) Terminals Market: Application Segment Analysis
- Retail
- Hospitality
- Healthcare
- Warehouse
- Entertainment
- Others
Global Point-of-sale (POS) Terminals Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- The UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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