Global Point-of-Sale Terminal Market Report
According to a research report published by Azoth Analytics in June 2019, the Global Point-of-Sale (POS) Terminal Market was valued at USD 64038.11 million the year 2018. Globally, the market for POS terminal has been growing at a swift pace on the back of escalating focus of manufacturers to adapt to latest market trend and incorporating POS systems that help in providing convenience of payment to customers in major economies of the world such as China, Germany, US, India, South Korea, France among others supported by changing preferences of consumers to shop online rather than going to offline markets with growing smooth access of internet and increasing penetration of smart phones globally.
The Azoth Analytics research report titled Global Point-of-Sale (POS) Terminal Market has analysed and segmented the Point of Sale (POS) Terminal Market by Value (USD Million). The report has also further analysed the Point of Sale (POS) Terminal Market By Product Type (Fixed and Wireless/Mobile), By Component Type (Hardware and Software) and By Applications (Retail, Healthcare, Restaurant, Hospitality and Others). The Global Point of Sale (POS) Terminal Market has been analysed By Region (North America, Europe, APAC, ROW) and By Country (US, Canada, Germany, France, UK, Italy, China, Japan, India, South Korea) for the historical period of 2014-2018 and the forecast period of 2019-2024.
Global Point of Sale (POS) Terminal market is primarily driven by growing urbanization and major initiatives taken by government in developing countries and implementing various policies and providing various offers on cashless transactions in order to attain complete digitalization backed with relaxed FDI policies so as to attract investments in the region. All these factors are driving a considerable growth in the market for Global POS Market during the period.
Fixed POS, Hardware POS systems and Retail Industry, under their respective segments, have been witnessing growth at a notable rate over the past few years as major global leaders such as Amazon, Walmart, Alibaba, are investing in Ecommerce industry and online market place supported by increasing consumer disposable income and burgeoning demand for multi-functional POS systems that can perform various applications other than just accepting payments. These factors are fuelling the Global POS Market during the period.
Amongst the regions, Asia Pacific accounts for the largest regional share in the Global POS market in 2019. Key factors driving the robust growth rate of Asia Pacific region include escalating adoption of POS that run on latest technology by retailers supported by major economies of the region such as India, Japan, Singapore, Thailand, are experiencing rapid urbanization, improving infrastructure, relatively young population and rising per capita income, which has been anticipated to accelerate the POS market growth during the coming years.
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