Global Retail POS Terminals Market to hit $45bn by 2024

The industry statistics report “Retail (Point of Sale) POS Terminals Market Size By Product (Mobile, Fixed), By Services (Professional services, Support & Maintenance, Training), By Component (Software, Hardware), By Application (Department Store, Supermarket/Hypermarket, Warehouse, Convenience, Discount Store, Specialty Store, Drugstore, Category Store), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Mexico), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” by Global Market Insights Inc. says Retail Point of Sale Terminals Market size is set to surpass USD 45 billion by 2024.

Rising trend towards cashless transactions driven by acceptance of online payment and mobile payment options will boost retail POS terminals market development. Growing necessity to curb black money transactions, frauds, money laundering, and illegal cash transactions are expected to supplement the industry growth over the coming years.

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According to Global Market Insights, Inc., “Retail POS terminals market size is forecast to exceed USD 45 billion by 2024.” Wide applications across department stores, category stores, convenience stores, warehouse, discount stores, supermarkets, specialty stores, and drugstores is expected to elevate retail POS terminals market growth over the next few years.

Supermarket applications, which contributed nearly 35% of the global retail POS terminals market share in 2015, will experience substantial growth over the coming timeframe. Growing need to improve the consumer experience, ability to minimize manual error, and proper inventory & employee tracking are the major market growth drivers. Discount and convenience stores are also anticipated to boost the industry revenue over the coming years.

Mobile and Fixed POS terminals are the key products of retail POS terminals. Mobile POS terminals market size, worth USD 11.54 billion in 2015, is expected to witness a significant surge over the coming timeframe. Enhanced use of mobile instruments such as smartphones, iPhones, and tablets is expected to drive retail POS terminals industry size over the years to come. Fixed POS terminals industry, which dominated the overall revenue in 2015, is expected to witness a high growth over the next seven years.

Market players will try to enhance their geographical presence by adopting key business strategies such as formation of strategic alliances and joint ventures. Major industry participants include Ingenico Group, VeriFone Holdings Inc., MICROS Systems, Hewlett-Packard, Samsung Electronics Limited, Toshiba Corporation, Cisco Systems, NEC Corporation, and Ingenico Group.

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Below are the regional highlights positively influencing global retail POS terminals market over 2016-2024:

  • Strict legislations to upgrade EMV terminals owing to growing security concerns is expected to accelerate North America retail POS terminals industry over the years to come. In addition to this, the presence of key industry players will also drive the regional growth. U.S. is expected to be a key regional revenue contributor.
  • APAC retail POS terminals market growth is projected to be influenced by high demand for mobile and digital payments. China and India are forecast to be major regional revenue drivers.
  • High demand for optimizing IT hardware and software across various firms is expected to positively impact the growth of the industry in Europe.

Table of Contents

  • Chapter 1   Methodology & Scope
    • Research Methodology
      • Initial data exploration
      • Statistical model and forecast
      • Industry insights and validation
      • Research scope and assumptions
    • List of Data Sources
      • Primary sources
      • Secondary sources
    • Chapter 2    Executive Summary
      • 1    Retail POS terminal 3600 synopsis, 2013 – 2024
        • 1.1    Business trends
        • 1.2    Regional trends
        • 1.3    Product trends
        • 1.4    Services trends
        • 1.5    Component trends
        • 1.6    Application trends
      • Chapter 3   Retail POS Terminal Industry Insights
        • 1   Industry segmentation
        • 2   Industry size & growth forecast, 2013 – 2024
        • 3   Industry ecosystem
          • 3.1    Vendor matrix
          • 3.2    Distribution channel analysis
        • 4   Technology & innovation landscape
          • 4.1    Android POS terminal
          • 4.2    Iris and facial recognition
        • 5   Regulatory landscape
          • 5.1    National Payment Corporation of India (NPCI)
          • 5.2    EU Regulation on Interchange Fees for Card-based Payment Transactions
          • 5.3    European Payment Council (EPC)
          • 5.4    Electronic Fund Transfer Act (ECTA)
        • 6   Industry impact forces
          • 6.1    Growth drivers
          • 6.1.1   Increase in cashless transactions
          • 6.1.2   Emerging demand for mobile POS terminals
          • 6.1.3   Increasing penetration across several retail channels
          • 6.1.4   Migration to EMV cards
          • 6.2    Industry pitfalls & challenges
          • 6.2.1   Need for data security
          • 6.2.2   Costly software upgrades
        • 7   Growth opportunity benchmarking
        • 8   Cashless transactions & debit card base
          • 8.1   U.S.
          • 8.2   Europe
          • 8.3   China
          • 8.4   India
        • 9   Company market share analysis, 2015
          • 9.1    Strategy dashboard
        • 10   Porter’s analysis
        • 11    PESTEL analysis

Browse key industry insights spread across 170 pages with 128 market data tables & 99 figures & charts from the report Retail (Point of Sale) POS Terminals Market in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/retail-point-of-sale-pos-terminals-market

 

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