What is POS Machines Market?
The POS Machines market is expected to grow in the forecasted period due to the rising adoption of smartphones across the world. The enhancements in the POS terminal systems in recent years, rising use of mobile devices for POS transactions, emergence of chip-embedded payment cards and PIN that minimizes security concerns, high government initiatives to encourage the use of payment cards and POS terminals, rise in modern retail, higher adoption of POS terminals in various sectors such as healthcare, hospitality and retail, rapid urbanization and increasing literacy levels, rise in cashless economy and implementation of policies and regulations for electronic payment systems have driven the growth of the global POS machine market.
The market study is being classified by Type (Fixed POS Terminal, Mobile POS Terminal, Pocket POS Terminal and POS GSM/GPRS Terminal), by Application (Retail & Consumer Goods, Travel & Hospitality, Manufacturing, Media & Entertainment, Healthcare, BFSI and Others) and major geographies with country level break-up.
Ingenico Group (France), The NCR Corp. (United States), VeriFone Systems, Inc. (United States), PAX Technology, Inc. (United States), Fujian Newland Payment Technology Co. Ltd. (China), Revel System, Inc (United States), Oracle Corp. (United States) and ShopKeep (United States) are some of the key players profiled in the study.
Leading key players are focusing on strategic partnerships to improve their products and services. Companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global POS Machines market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global POS Machines market by Type, Application and Region.
On the basis of geography, the market of POS Machines has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- The growing popularity of mobile POS across different end-user industries, such as restaurant, retail, and hospitality, owing to its portability is expected to drive the market further.
Market Trend
- Increasing demand for POS Machines with Various Features
- Growing Adoption of Debit Card / Credit Cards
- Rising Penetration of IoT
Restraints
- The Issues Related to the Increasing Machine Complexities
Opportunities
- Advancement in POS Machines with Technology such as Real-Time Analytics Features
- High Demand from The Emerging Countries
Key Target Audience
POS Machines Manufactures, POS Machines Distributors, POS Machines Suppliers, Government Regulatory Bodies, Government Research Organizations, Private Research Organizations and Others