POS Terminal Market is valued at approximately USD $$billion in 2021 and is anticipated to grow with a healthy growth rate of more than $$% over the forecast period 2022-2029. POS Terminals utilizes wireless devices to enhance digital payment systems for products and services etc. It can streamline various processes from rental cabs to restaurants. The POS terminals have major applications in retail sectors and hospitality sectors including various operations such as sales tracking, accounting, and inventory management. The POS Terminal market is expanding because of factors such as the rising demand for wireless communication, increasing demand for mobile POS terminals, and rising demand for a modern drive-thru in the forecast period
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According to Statista 2021, the global wireless connectivity market in 2020 was worth around USD 54.7 billion which has increased to around USD 60.7 billion in 2021. Also, it is projected to attain a value of around USD 127.9 billion by 2027. Whereas rising adoption of wireless payment systems and government initiatives for promoting digital payments create lucrative opportunities for the market. However, data security concerns hamper the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global POS Terminal Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia Pacific dominated the market in terms of revenue, owing to the increasing demand from end-use industries, rising government initiatives towards the adoption of digitalization, and increasing demand for POS terminals, etc. Whereas North America is expected to grow significantly during the forecast period, owing to factors such as increasing demand for online payment methods, growing awareness towards wireless communication and rising R&D activities by market players in the forecast period
Major market players included in this report are:
Acrelec
AURES Group
Elo Touch Solutions
HM Electronics, Inc.
Hewlett-Packard Development Company, L.P.
NCR Corporation
Oracle Corporation
Presto
Qu Inc.
Quail Digital
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Recent Developments in the Market:
In January 2022, 3.6 Xenial Ordering was released by Xenial, Inc. in January 2022 as a development for Xenial Cloud POS. For this developed version of the Xenial Ordering UI and API, this cloud POS provides seamless process workflow, user experience, and infrastructure updates and improvements.
In September 2021, Presto Flex, Presto’s next-generation platform, was introduced. This platform is a multi-purpose tablet that has been specifically designed for the hospitality industry. It can be used in a variety of restaurant drive-thru and dine-in applications, such as pay-at-table, staff handheld, drive-thru, and kiosk line buster. To provide restaurants with complete front-of-house versatility, the platform also integrated Presto’s contactless QR Code payment solution and ordering.
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Product, Component, Deployment, End Use Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Product:
Fixed
Mobile
By Component:
Hardware
Software
By Deployment:
Cloud
On-Premises
By End-Use:
Healthcare
Retail
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Market Overview:
- Provides a general introduction to the market, including its size, growth rate, and key characteristics.
- This section may also include information on market segmentation, such as by product type, application, or geography.
Industry Trends and Drivers:
- Examines the current trends, developments, and factors driving the growth or decline of the market.
- It may include technological advancements, regulatory changes, consumer preferences, or economic factors that impact the industry.
Market Analysis:
- Offers a detailed analysis of the market’s dynamics, including supply and demand factors, competitive landscape, and market attractiveness.
- This section may include information on market share, market concentration, and competitive strategies of key players.
Market Segmentation:
- Divides the market into distinct segments based on criteria such as product type, application, end-user, or geography.
- This analysis helps identify specific market opportunities and target audiences.
Market Size and Forecast:
- Presents the current market size and estimates future market growth over a specified period.
- -This section may include historical data, market projections, and growth rates for different segments.
Competitive Analysis:
- Assesses the competitive landscape of the market, including the profiles of major players, their market share, and strategies.
- It may also include SWOT analysis (strengths, weaknesses, opportunities, threats) of key competitors.
Market Opportunities and Challenges:
- Identifies potential growth opportunities and challenges in the market. This section may highlight emerging market segments, untapped regions, or technological advancements that can drive market expansion.
- It may also address barriers to entry, regulatory hurdles, or competitive threats.
Consumer Insights:
- Provides an understanding of consumer behavior, preferences, and buying patterns related to the market.
- This section may include survey data, consumer demographics, and customer feedback.
Future Outlook and Recommendations:
- Offers insights into the future prospects of the market and provides recommendations for businesses or stakeholders.
- This section may suggest strategies for market entry, product development, marketing, or investment decisions.
Appendix:
- Includes additional data, charts, tables, or references that support the analysis presented in the report.
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