Global Point-of-Sale (POS) Terminals Market 2014 to 2020
Albany, New York (PRWEB) January 15, 2015
According to a new market report published by Transparency Market Research “Point-of-Sale (POS) Terminals Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020”, the global POS terminals market, in terms of revenue, was valued at USD 36.86 billion in 2013 and is estimated to grow at a CAGR of 11.6% during the forecast period from 2014 to 2020. The growing adoption of mobile POS in the retail and hospitality sector emerged as the most significant growth driver for POS terminals market. In 2013, North America was the largest market for POS terminals which held a share of around 32% in terms of revenue owing to the significant demand for POS terminals from a the retail and hospitality sectors in the region and early implementation of technology.
Browse the full Point-of-Sale (POS) Terminals Market Report: http://www.transparencymarketresearch.com/point-of-sale-terminals-market.html
Fixed POS terminals was the largest segment in terms of revenue in 2013 and accounted for around 81% share of the total market majorly owing to the early adoption of technology. Adoption of wireless and mobile POS has increased significantly in recent years owing to the ease of use, mobility and lower total cost of ownership as compared to traditional POS terminals. Mobile POS terminals find significant demand from the small and medium sized businesses owing to their affordable initial cost compared to fixed POS terminals and growing preference for tablets and smartphones at workplaces and in business.
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The retail sector was the largest application for POS terminals in 2013, holding a share of around 34% of the total market. Growing adoption of advanced payment option by small retailers across the globe is anticipated to drive the growth of POS terminals market in retail. The healthcare industry is expected to be the fastest growing segment for POS terminals during the forecast period from 2014 to 2020, growing at a CAGR of 16.1%. The adoption of POS terminals is increasing in the healthcare industry owing to the increased spending on healthcare services by various countries which is leading to high growth in healthcare infrastructure including payments and patient data tracking. In the coming years, the growth in adoption of mobile POS in warehouses owing to ease of use and mobility is expected to be the major driver for growth in warehouse application. Growing demand from mobile POS terminals and increased emphasis on advanced analytics features are significant factors for the growing demand for software in POS terminals market. Multiple operating platforms and applications for mobile POS are available now-a-days leading to the growth in adoption of software in mobile POS.
Browse the full Press Release of Point-of-Sale (POS) Terminals Market: http://www.transparencymarketresearch.com/pressrelease/point-of-sale-terminals-market.htm
Key players in POS terminals market include Ingenico S.A., NEC Corporation, PAX Technology Limited, MICROS Systems Inc., VeriFone Systems Inc., Cisco Systems Inc., Hewlett-Packard Company, Toshiba Corporation, Panasonic Corporation and Samsung Electronics Co. Ltd. VeriFone Systems, Inc and Ingenico S.A. were the dominant vendors of POS solutions across the globe in 2013. The market is experiencing entry of new players, especially, software vendors and this is intensifying the competition among the players in this market.
The market has been segmented as follows:
POS Terminals Market, by Product Type
- Fixed POS
- Wireless and Mobile POS
POS Terminals Market, by Component
POS Terminals Market, by Application
- Hospitality (Lodging)
- Warehouse / Distribution
- Others (Field Service, Government, Transportation, etc)
POS Terminals Market, by Geography
- North America
- Asia Pacific
- Rest of the World
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