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.
Browse full research report on Retail Point-of-Sale (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.
Browse more reports of this category
by Grand View Research: www.grandviewresearch.com/industry/communication-services
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
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- MEA
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.
For more information: www.grandviewresearch.com
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