Scope of the Report
The report titled Global Point of Sale (POS) Terminal Market: Trends & Opportunities (2016 Edition), provides an in-depth analysis of the global POS terminals market by value and by volume. The report also gives an insight of the global POS terminals market by applicability, by products, by components, by region, etc. The report also includes the analysis of the global software POS market, hardware POS market, POS terminals installed base by country and by technology. The report provides a regional analysis of the POS terminal market for the following regions: US/ Canada, MEA, APAC, Latin America and Europe.
The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global POS terminals market has also been forecasted for the period 2016-2020, taking into consideration the previous growth patterns, the growth drivers and the current and future trends. The competition in the global POS terminal market is dominated by the two big players, Ingenico and Verifone. Further, key players of the POS terminal market Ingenico, Verifone, Toshiba Tech Corp and PAX Global are also profiled with their financial information and respective business strategies.
Point of Sale (POS) refers to capturing of data and customer payment information when goods and services are bought and sold at any physical location. POS transaction can be captured using a variety of devices via computer, barcode and optical scanner, magnetic card readers or any combination of such devices. Point of Sale (POS) terminals market has gained significant momentum in recent years due to the ease of use and improved return on investment being offered by these systems.
POS is used in millions of retail, education, supermarkets and hospitality businesses, etc. The major functions of POS Terminal are: calculate cash due for every value entered, keep track of cash in the cash drawer, calculate labor and payroll data, record information on repeat customers, record daily check averages for every worker, etc. The POS terminals market can be segmented according to the components into hardware POS terminals and software POS terminals. The POS terminal market can also be segmented according to the product type into fixed POS terminals and wireless/mobile POS terminals.
The global POS terminal market has increased at a significant CAGR during the years 2008-2015 and projections are made that the market would rise in the next four years i.e. 2016-2020 tremendously. The POS terminal market is expected to increase due to growth in retail e-commerce industry, increase in hospitality industry, growth in the global healthcare industry, increased usage of debit and credit cards, technological up gradation, etc. Yet the market faces some challenges such as, need for data accuracy and data security, risks associated with mPOS, tampering and connectivity problems, etc.