Point-of-Sale (POS) Terminal Market Size Worth $125.9 Billion By 2027 | CAGR: 7.5%


Posted September 7, 2020 by sitakant

The global POS terminal market size is expected to reach USD 125.9 billion by 2027, registering a CAGR of 7.5% over the forecast period, according to a new report by Grand View Research, Inc.

 
The global POS terminal market size is expected to reach USD 125.9 billion by 2027, registering a CAGR of 7.5% over the forecast period, according to a new report by Grand View Research, Inc. Rising demand for Customer Relationship Management (CRM), reporting, payment processing features along with understanding customer purchase patterns is anticipated to drive the growth. Furthermore, the decline in the trend of carrying cash for shopping coupled with growing digitalization in the payment industry is anticipated to boost the adoption of point-of-sale terminals.
Large businesses are using POS systems to gain consumer insights, which are then applied to develop discount schemes and personalized marketing. This helps attract more customers and boost sales. Small and medium businesses have also realized the benefit of deploying these systems on their premises. Industries such as retail, hospitality, and restaurants are the highest adopters of POS systems for everyday transactions at their facilities.
For PDF sample Copy or More Details please visit link @: https://www.grandviewresearch.com/industry-analysis/point-of-sale-pos-terminals-market
The market for fixed POS terminal has been affected by the introduction of mobile POS systems. The mobile segment is anticipated to expand at the fastest CAGR over the forecast period and is projected to reach over USD 68.3 billion by 2027. The demand for mobile POS terminal is rising rapidly in developed countries owing to its user-friendly, cost-effective, and convenience features. Moreover, they allow omnichannel assistance for scenarios, such as Buy Online, Pick-up in Store (BOPIS), online purchase, and home deliveries from the store, which is expected to boost market growth over the forecast period.
Further key findings from the report suggest:
• The global POS terminal market accounted for USD 69.0 billion in 2019 and is expected to expand at a CAGR of 7.5% from 2020 to 2027
• Mobile product segment was valued at USD 25.1 million in 2019 and is anticipated to register the fastest CAGR of 12.8% from 2020 to 2027
• Healthcare segment will witness the fastest CAGR of 9.8% during the forecast period
• Asia Pacific is expected to expand at the fastest CAGR from 2019 to 2027. Rising demand in retail stores in China, India, and Japan is one of the key factors driving the growth. Moreover, booming fine dining and other forms of restaurants in food service sector in major cities is anticipated to further fuel the growth
• Key market players include Ingenico Group; NCR Corporation; VeriFone Systems Inc.; PAX Technology Corp.; Fujian Newland Payment Technology Co. Ltd.; Revel System Inc.; Oracle Corporation; and ShopKeep
To request research report sample copy with TOC please visit @: https://www.grandviewresearch.com/industry-analysis/point-of-sale-pos-terminals-market/request/rs1
Grand View Research has segmented the global POS terminal market on the basis product, component, deployment, application, and region:
POS Terminal Product Outlook (Revenue, USD Million, 2016 - 2027)
• Fixed
• Mobile
POS Terminal Component Outlook (Revenue, USD Million, 2016 - 2027)
• Hardware
• Software
• Services
POS Terminal Deployment Outlook (Revenue, USD Million, 2016 - 2027)
• On Premise
• Cloud
POS Terminal Application Outlook (Revenue, USD Million, 2016 - 2027)
• Restaurant
• Hospitality
• Healthcare
• Retail
• Warehouse
• Entertainment
• Others
POS Terminal Regional Outlook (Revenue, USD Million, 2016 - 2027)
• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
o France
• Asia Pacific
o China
o India
o Japan
o Singapore
o Australia
• Latin America
o Brazil
o Mexico
• Middle East & Africa
For Inquire before buying please visit @: https://www.grandviewresearch.com/inquiry/701/ibb
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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Issued By sitakant
Country United States
Categories Business , Technology
Tags pointofsale pos terminal market size
Last Updated September 7, 2020