Global POS (Point of Sale) Market Anticipated to Grow at a CAGR of14.0% during 2016-2024

New York, USA, 2018-Dec-06 — /EPR Network/ —

According to Goldstein Research, global POS market is expected to reach USD 131.5 billion by 2024, growing at a CAGR of 14.0% over the forecast period 2016-202The majorjor driving factor for the expansion of POS market are the expansion of e-commerce business, raising concerns over eliminating the black money markets and favorable monetary policies. Point of Sale Terminal Market segmentation has been done on the basis of components, product type, deployment type, end user and geography. Implementation of near-field communication (NFC) technology for contactless transactions and popularity of EMV (Europay, MasterCard, and Visa) are propelling the growth of POS terminals market. POS  Terminal Market is largely dominated by developed regions such as North America and Europe owing to the strict government regulations and presence of leading market players in these regions. Whereas, developing countries such as Brazil, China, and India are growing at a faster rate in the implementation of POS terminals within each country.

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Market Segmentation

On the basis of our in-depth analysis, Global POS (Point of Sale) Market can be segmented as follows:

Based on Components

  • Hardware
  • Touch Screen/ Desktop
  • Swipe card machine
  • Software

Based on Product Type

  • Mobile POS Terminals
  • Fixed POS Terminals

Based on Deployment Type

  • On Premise
  • Cloud Based

Based on End-User

  • Hospitality
  • Healthcare
  • Retail
  • Entertainment
  • Government
  • Transportation
  • Travel & Tourism
  • Restaurants

By Region

  • North America POS  Market Analysis, 2016-2024
  • Europe POS Market Analysis, 2016-2024
  • The Middle East And Africa POS  Market Analysis, 2016-2024
  • Latin America POS Market Analysis, 2016-2024
  • Asia Pacific POS  Market Analysis, 2016-2024

 

“Global POS (Point of Sale)Market Outlook 2024” contains a detailed overview of the global POS market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by components, product type, deployment type, end user and geography.

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The Global POS (Point of Sale) Market Report highlights the competitive outlook of major global players that includes the business strategies, product portfolio, revenue distribution, financial analysis, R&D activities, and investments. The in-depth analysis of the POS market report will help the clients to assess their business strategies as per the competitive environment in the market space.

Major players of the global POS market discussed in the report are: IBM Corporation, Ingenico, Cisco Systems, Inc., Verifone Systems Inc., PAX Technology, Equinox Payments, SZZT Electronics Co., LTD, First Data, Spire Payments, NCR Corporation, MICROS Systems Inc., CyberNet, Hewlett-Packard Company, Dspread Technology, Panasonic Corporation, Toshiba Corporation, Samsung Electronics Co. Ltd., Fujian Newland Payment Technology, Hangzhou Sunyard, NEC Corporation, Castles Technology, BBPOS, Bitel, Centerm, Squirrel Systems, Shenzhen Xinguodu Technology Co., Ltd (NEXGO),etc.

Further, Global POS (Point of Sale) Market Report encompasses the major trends & growth opportunities, market dynamics, and other growth factors. The POS (Point of Sale) Market outlook also comprises of key challenges for the market players, risk analysis, SWOT Analysis, BPS analysis, and Market Attractiveness. The report also includes the expert analysis which provides a complete overview of the market post analysis of the economic, political, environmental & social factors of each region and country.

Global POS Market is driving on the basis of advancement in the given below industries

Smart Card Market

Smart cards are of flexible plastic size of the credit card that contains silicon integrated circuit chips to store and securely transact the data. Smart cards have multiple advantages from storing data to storing cash.

On the basis of regional analysis the Malaysia Smart Card Market is set to reach USD 4.3 billion by 2025, growing at a CAGR of 7.52% over the forecast period (2017-2025). Where the Singapore Smart Card Market is set to reach USD 14.26 billion by 2025, growing at a CAGR of 8.3% over the forecast period (2017-2025).

E-commerce Market

eCommerce Market has grown dramatically over the past few decade, and the good news for eCommerce businesses is that there doesn’t look like there will be a slowdown anytime soon. E-commerce industry adopt multiple promotional plans, for instance, prime loyalty programme of Amazon makes three-fold jump in orders from members while its arch-rival Flipkart has less promoted loyalty programme called Flipkart First.

Online Grocery Market

Online Grocery Market is projected to be growing at a CAGR of 19.5% over the forecast period 2016-2024. The global online grocery market accounts for nearly 15% of the total sale through e0commerce retail sales.

The penetration of online grocery market into various regions & their expansion is largely dependent upon the digital maturation. Various retail store companies are witnessed to shift their business to online platforms.

The multiple attributes such as prices, product quality, convenience, promotions, app management, and efficient customer care services are the major store switching drivers. Further based on geography, Online Grocery Industry is dominated by Asia Pacific region, where South Korea acquires the largest market share at the global level, followed by Japan, U.K., France, Taiwan & China.

Smart Phones Market

Telecommunication is the fastest growing industry where implementation of internet of things (IoT) is drastically changing the way of communication and lifestyle. The connection of smartphones with other devices is transforming day to day living style.

The global smartphone market is valued USD 363.4 billion in 2016 and is projected to witness over 3.6 billion units shipments of smartphones by the end of 2024. The Smartphone Market is anticipated to grow at a CAGR of 7.5% during the forecast period.

Contactless Payment Transaction Market

Contactless Payment Transaction Market is anticipated to reach a market size of USD 200.0 billion by 2024, growing at a CAGR of 41.0% over the forecast period 2016-2024. The factors such as reduced time & stress for making transactions, efficient streamline payment and moreover the growth of the e-commerce industry is driving the growth of the market.

Further geographically, global contactless payment transaction industry is dominated by Europe, with a market share of 55.0% in 2016. Globally UK, US, and Australia have the highest share in the adoption of the contactless payment system, owing to the high adoption of wearable technology.

Payment Gateway Market

Global payment gateways market is propelled by the growth of the global e-commerce industry coupled with the high penetration of smartphones and investments in high-speed internet such as 4G & 5G. According to Goldstein Research, Payment Gateways Market is expected to reach USD 28.7 billion by 2024, growing at a compounded annual growth rate of 14.1% during the forecast period 2016-2024.

 

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