Retail Point of Sale Terminals Market forecast to grow at 14% CAGR from 2016 to 2024

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Retail Point of Sale Terminals Market to exceed
45bn by 2024 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024v
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Key Insights from Retail POS Terminals Market

• The research report Retail (Point of Sale) POS
  Terminals Market Size By Product (Mobile, Fixed),
  By Services (Professional services, Support
  Maintenance, Training), By Component (Software,
  Hardware), By Application (Department Store,
  Supermarket/Hypermarket, Warehouse, Convenience,
  Discount Store, Specialty Store, Drugstore,
  Category Store), Industry Analysis Report,
  Regional Outlook (U.S., Canada, Germany, UK,
  France, Italy, Spain, China, India, Japan, South
  Korea, Brazil, Mexico), Application Potential,
  Price Trends, Competitive Market Share
  Forecast, 2016 2024. Retail POS Terminals
  Market size is set to surpass USD 45 billion by
  2024 as per a new research report by Global
  Market Insights, Inc.
• Rising popularity of non-cash transactions due to
  the digitization of payments, technological
  innovation, and proliferation of immediate
  payments will fuel global retail POS terminals
  market growth. Cash handling and cost elimination
  further contributes towards the global demand.

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Continued...

• Mobile retail POS terminals market is anticipated
  to witness substantial growth at over 18 CAGR
  from 2016 to 2024. Advancements in wireless
  technology and emergence of mobile wallets are
  responsible for industry growth forecasts.
  Moreover, the advantages such as low upfront
  cost, easy usage, positive return on investment,
  and portability, have collectively spurred mobile
  POS terminals market consumption.
• Manufacturers in the retail POS terminals market
  facilitate customized services including offers
  loyalty initiatives, coupons, and suggestions,
  resulting in enhanced customer satisfaction.
  Emergence of advanced payment technologies such
  as NFC and Europay, Master Card and Visa (EMV)
  coupled with the increasing adoption of payment
  options such as debit and credit cards have
  played their role in demand development.
  Technology advancements have improved cost
  effectiveness and features such as Quick Payment
  Service (QPS), automated download, and
  back-lighted keyboards leading to the high
  adoption rate.

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India Retail POS Terminals Market size, by
application, 2013-2024 (USD Million)

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Continued...

• Supermarkets/hypermarkets will witness increase
  adoption in the coming years owing to the maximum
  RoI and increasing focus on enhanced customer
  experience. Ability to reduce manual error and
  regular inventory track is enhancing the usage
  resulting in retail POS terminals market growth.
  Data security and costly software upgrades are
  challenges for companies operating in the
  industry.
• Support maintenance services accounted for over
  20 of the 2015 retail POS terminals market
  share, due to the increase in demand for
  optimization of the IT software and hardware
  infrastructure of an organization in regions such
  as North America and Europe. Training services
  will be driven by the increasing demand across
  developing countries for proper guidance and
  familiarity with the technology.

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Continued...

• Growing adoption of cloud computing technology
  and mobile devices will continue strengthening
  the demand for software. Increasing requirement
  of data security across the retail industry will
  further boost the demand for advanced software
  solutions.
• India retail POS terminals market share is
  expected to witness considerable demand gains due
  to government efforts and stringent rules
  regulations to promote digital payments in the
  country. In addition, demonetization issues and
  demand for mobile payments are expected to surge
  the adoption across the region.
• Players operating in the industry include PAX,
  Ingenico, NEC, VeriFone, Cisco, MICROS, HP,
  Samsung, and Panasonic. Technological
  advancements and innovation are the key
  strategies to maximize share and to compete in
  the highly competitive retail POS terminals
  market.

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