The Global Point Of Sale (POS) Terminals Market Size report also includes qualitative insights of the market such as drivers, restrains, value chain, regulatory framework and trade statistics. The value chain has been analyzed in detail covering key stages. The global point of sale (POS) terminals market 2018 gives a holistic view encompassing production, consumption, import and export for key regions and countries.
The global point of sale (POS) terminals market size is projected to be worth USD 28.27 billion by 2025 owing to increase in debit/credit card transactions worldwide and diminishing cash payments. Apart from higher costs, retailers are looking forward to reduce cash payments due to security reasons as well. Also, improvement of economic conditions and growing tech-savvy population have contributed to the growth of cashless payments systems such as the Point of Sale (POS) terminals market. Spread of technology across various countries is seen over in recent years and have boosted the adoption of cashless payments which provide more convenience as compared to cash transactions. For instance, mobile POS terminals market has seen significant growth, wherein a card acceptance device can be connected to a smartphone or a tablet to perform the same function as a traditional wired POS device. Also, such IP-based terminals that connect to the internet open the doors for data analytics, inventory management, risk management and customer relationship management.
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Smart POS terminals are one of the types of POS devices available in the global market. It combines the merchant’s payment with data analytics and back office support tools into a simple platform for payments in both e-commerce and physical stores. For instance, marketplaces run by Amazon and Walmart both have e-commerce platform as well as physical stores in the US. Hence, a common data analytics system is required, whether the purchase was done from the POS terminal or e-commerce channel. The smart POS terminals market is expected to grow at the CAGR of 17.1% in the forecast period of 2018-2025.
Among different countries worldwide, China had the highest POS terminal market share in 2017 and is expected to grow further during the forecast period. Among other Asia-Pacific countries, India has a promising potential for POS terminals market, which is estimated to grow with a CAGR of 18.3% in the forecasted period and is driven by growing economies of scale and government initiatives for going cashless. US on the other hand, has the dominance in the North American POS terminals market driven by latest POS technologies such as mPOS and integrated POS systems.
The competitive landscape of the global point of sale (POS) market includes presence of players serving to local markets as well as to international markets. Companies such as Ingenico, Verifone, Pax Technology, SZZT, Nexgo, Toshiba and Square have broader presence within the global market.
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