The global retail POS terminals market is expected to
reach USD 33.41 billion by 2024, according to a new report by Grand View
Research, Inc. The paradigm shift in the payment landscape enables the usage of
electronic payment technologies.
Retail POS terminals
have witnessed a considerable growth in the recent years owing to the rising
integration with robust POS platforms and multi-channel selling in stores. The
next-generation point-of-sale systems offer high reliability and durability,
which have significantly reduced the cost of ownership, thereby increasing the
deployment of these terminals in small and medium-sized retails.
With the evolution of
modern merchants and retailers, traditional terminals are replaced with tablet
and smartphone-based terminals. These devices are difficult to navigate and are
less user-friendly for sales support and customers. With the advent of the
mobile POS, merchants are recreating shopping experience.
Access Research Report of Retail POS Terminals Market @ www.grandviewresearch.com/industry-analysis/retail-point-of-sale-pos-terminals-market
Further key findings from the report suggest:
· Fixed POS terminals are expected to remain
the largest segment owing to the reluctance of retailers to adopt mobile POS
terminals due to the rising security concerns
· The services segment is expected to grow at
a CAGR of over 12% from 2016 to 2024. The growing demand for Software as a
Service (SaaS) and cloud-based solutions of POS devices is expected to
provide growth opportunities
· The global urbanization and changing
consumer preferences are increasing the footprints in supermarket stores. The
efforts retailers are taking to improvise the in-store experience is augmenting
the growth for point-of-sale devices.
· The North America retail POS terminals industry
is anticipated to reach over USD 8.0 billion by 2024.The brick-and-mortar
stores and the e-commerce boom are increasing the overall consumption of these
devices in the region.
· Latin America is expected to grow at a CAGR
of over 11.5% over the forecast period. Modern retail formats such as
hypermarkets and supermarkets are making inroads in Latin America.With the
modernization of retail sector, the region provides a huge growth opportunity
for the adoption of these terminals over the forecast period.
· The key players in the retail POS terminals
market include Toshiba Tec Corporation, Ingenico Group, VeriFone Systems Inc.,
PAX Technology and NCR Corporation among others. Companies are focusing on
providing fully integrated payment solutions to develop technologies in the
payment infrastructure.
Grand View Research has
segmented the retail POS terminals market on the basis of product, component,
application and region:
Retail POS Terminals Product Outlook (Revenue, USD
Million, 2014 - 2024)
·
Fixed POS terminals
·
Mobile POS terminals
Retail POS Terminals Component Outlook (Revenue, USD
Million, 2014 - 2024)
·
Hardware
·
Software
·
Services
Retail POS Terminals Application Outlook (Revenue, USD
Million, 2014 - 2024)
·
Supermarkets/hypermarkets
·
Grocery stores
·
Specialty stores
·
Gas stations
·
Others
Retail POS Terminals Regional Outlook (Revenue, USD
Million, 2014 - 2024)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
MEA
Access Press Release of Retail POS Terminals Market@ www.grandviewresearch.com/press-release/global-retail-point-of-sale-pos-terminals-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
