Point of Sale (POS) system Market -Growth Drivers, Opportunities and Forecast Analysis to 2023
Market Overview:
The Point of Sale (POS) system is
operated through POS software, which should also be compatible with the
hardware used in the system. The POS software is developed with respect
to specific industry verticals, which would facilitate to serve and record a
huge amount of online transaction information.
Get Free Sample Report : https://www.marketresearchfuture.com/sample_request/5635
In retail, POS
software facilitates the data to provide scalability with respect to
identifying the products of different date ranges or units. The POS system is
also integrated with inventory management system in the process to manage the
proper availability of the products. In general, POS terminal offers
flexibility, reliability, and more importantly transparency for smooth running
of the business operation.
However, most of POS
systems are developed on generic operating systems such as Windows Embedded,
Windows XP, and UNIX operating systems. These operating systems are vulnerable
to cyber-attacks, which eventually lead to large-scale data breaches. Thus,
lack of point to point encryption is considered to be a major challenge for the
POS terminal market over the forecast period.
Moreover, the surging demand for contactless payments, associated
with an increase in adoption of NFC devices in the commercial and industrial
sector is expected to drive the POS terminal market. Additionally, the evolution
of chip-based payment solution and personal identification number (PIN) is
presumed to lower security threats that result in driving the demand for POS
terminal market over the forecast period.
Access
Report Details @ https://www.marketresearchfuture.com/reports/point-of-sale-terminal-market-5635
The POS Terminal
market is categorised as differentiated by component, product, deployment, and
end-user.
By component, the POS
terminal market comprised hardware, software, and services. Based on hardware,
the market includes mobile devices such as tablets and smartphones synchronized
with a debit/credit card reader, cash drawers, monitors, and others. On the basis
of services, the segment is classified as professional services and managed
services. By deployment, the market is bifurcated into on-premises and
on-cloud. Furthermore, by product type, the POS terminal is classified as fixed
terminal and wireless POS terminal. Based on end-user, the market is classified
as retail, warehouse, healthcare, restaurants, hospitality, entertainment, and
others.
According
to Market Research Future analysis, POS Terminal market has been valued at approximately
over USD 87 billion growing with a 9% CAGR during the forecast period
2017-2023.
Key Players
Market Research Future
identifies some of the key players of POS Terminal market are Ingenico S.A.
(France), Verifone Systems (U.S.), PAX Technology (Hong Kong), HP Company
(U.S), Cisco Systems (U.S), Elavon (U.S.), Castles Technology (Taiwan), Newland
Payment Technology (China), Panasonic Corporation (Japan), CITIXSYS AMERICAS
(U.S.). Touchbistro (Canada), NCR Corporation (U.S.), Diebold Nixdorf (U.S.),
Zebra Technologies (U.S.), Squirrel Systems (Canada), and BBPOS (Hong
Kong).
About Market
Research Future:
Market Research Future (MRFR) is
a reliable firm that undertakes an extensive analysis of markets in various
domains. Our teams of research analysts gather relevant data through
painstaking primary and secondary research that aims to give clients a complete
outlook on markets of their interest. The data is compared against third-party
agencies and reputed organizations for estimating valuations and revenue
projections.
MRFR’s goal in providing a
comprehensive coverage of the market replete with latest trends, niches,
developments, and insights can be lucrative for business needs. We aim to push
our clients to the forefront by guiding them with astute information for making
informed decisions. Our market intelligence can track down key issues in industries
and be modified as per the fluctuations in economic scenarios. The reports are
customized and offered as per a specific region or country and adhere to latest
policies.
Comments
Post a Comment