POS Terminal Market : Future Forecast Assessed on the basis of how the Market is Predicted to Grow

The presence of a sizeable number of large players in the global point-of-sale (POS) terminal market makes stiff competition prevail among them. The competition is expected to further intensify as aspiring players, especially software vendors are seeking entry into the market.

One of the key growth drivers for the global POS terminal market is the high acceptance of POS terminal across the retail, healthcare, hospitality, warehouse/distribution sectors due to its ease and high return on investment.

A report by Transparency Market Research predicts the global POS terminal market to rise at a CAGR of 11.5% between 2017 and 2025. The market stood at a valuation of US$54.68 bn in 2016.

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The segments of the global POS terminal market based upon terminal type are fixed type and wireless and mobile type POS terminal. The segment of fixed POS terminal held a whopping 94% of the market in 2016 on account of early adoption of technology.

The application segments of the global POS terminal market include restaurant, grocery/supermarket, field service, hospitality-lodging, healthcare, warehouse/distribution, retail, and government. Retail, among all, was the leading application segment holding 33% of the market in 2016.

The healthcare sector, on the other hand, is expected to display the leading growth rate in the upcoming years. The segment is anticipated to clock an impressive 13.1% CAGR between 2017 and 2025.

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At the regional front, North America led in 2016 holding almost 30% of the market revenue-wise. The growth of the region is mainly due to significant use of POS terminal across several industry sectors such as retail and entertainment. The high adoption of POS terminal among small retailers and quick service restaurants along with large retailers accounts for the significant position of the region in the global market.

In addition, compliance requirements such as EuroPay, MasterCard, and Visa (EMV) in place in the region for enhanced security of payments add to the growth of North America POS terminal market.

Some key vendors operating in the global market for POS terminal are Ingenico S.A, MICROS Systems Inc., NEC Corporation, PAX Technology Limited, VeriFone Systems Inc., Hewlett-Packard Company, Cisco Systems Inc., Toshiba Corporation, Panasonic Corporation, and Samsung Electronics Co. Ltd.

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