Global Point Of Sale (POS) Terminal Market to Benefit from Increasing Use of Debit and Credit Cards
MarketResearchReports.biz has announced the addition of a report, titled ‘Global Point Of Sale (POS) Terminal Market: Trends & Opportunities (2016 Edition),’ to its online repository. According to the report, the global point of sale (POS) terminal market is expected to expand swiftly during the period between 2016 and 2020 due to the increasing use of debit cards and credit cards and technological advancements. The growth of the retail e-commerce and healthcare industries is also predicted to propel the global point of sale (POS) terminal market in the years to come.
Point of sale (POS) equipment is used for capturing of customer payment information and other data when goods and services are purchased or sold at any location. Various devices are used to capture point of sale transactions. Point of sale transactions are captured by using devices such as personal computers, magnetic card readers, optical scanners, barcode scanners, or a combination of these devices. In the recent past, point of sale terminals have received a lot of momentum due to its ease of use and improved ROI. The increasing application of POS software and hardware across various industry verticals is expected to propel the global point of sale (POS) terminal market in the years to come. At present, POS terminals is used in millions of supermarkets, retail, education, and hospitality businesses.
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POS terminals are primarily used to calculate cash dues and to record the relevant information of repeat customers. Point of sale terminals keep a track of available cash. POS systems calculate labor and payroll data and also records daily check averages for workers. In the years to come, the global point of sale (POS) terminals market is expected to register considerable growth due to the increasing use of POS terminals in the hospitality industry.
The global point of sale (POS) terminal market is segmented on the basis of region, component, product, and application. By geography, the global point of sale (POS) terminal market is divided into APAC, Latin America, Europe, and the Middle East and Africa. Over the past few years, the global point of sale (POS) terminal market has been experiencing changing trends in competition due to the entry of new players. Some of the players dominant in the global point of sale (POS) terminal market are Ingenico, Toshiba TEC Corporation, PAX Global, and Verifone.
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By component, the global point of sale (POS) terminal market is classified into software POS terminals and software POS terminals. Even though the global point of sale (POS) terminals market is set for significant growth, it is expected to face certain challenges such as the risks associated with mPOS and connectivity problems. Furthermore, the growing need for data security and data accuracy is predicted to hamper the growth of the global point of sale (POS) terminal market in the years to come.
Based on product type, the global point of sale (POS) terminal market is classified into wireless/mobile POS terminals and fixed POS terminals.
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