Global POS Terminals Market to expand $125bn by 2024

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Point of Sale Terminals Market Present Scenario
and Growth Prospects from 2017 to 2024 Global
Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Point of Sale Terminals
Market

• (Point of Sale) POS Terminals Market size is set
  to exceed USD 125 billion by 2024 according to a
  research report by Global Market Insights, Inc.
  The global shipments are set to witness a
  double-digit growth rate in the coming years. The
  POS terminals market is anticipated to witness
  considerable growth over the forecast timespan
  owing to the rising demand across several
  applications such as entertainment, healthcare,
  hospitality, retail, and warehouse. Increasing
  advancements in technologies and the growing
  demands for contactless payments, coupled with
  the adoption of NFC devices in the industry are
  anticipated to boost the global POS terminals
  market demand.
• Owing to the surge in the popularity of
  e-commerce in the recent years, an increase in
  the number of online shoppers has been witnessed.
  The increasing demands from customers, and the
  changing customer needs has compelled several
  vendors to focus on implementing online sales
  segment for their businesses. The vendors are
  concentrating on replacing their physical stores
  with e-commerce channels, which has led to a
  speedy growth of e-commerce transactions.
  Moreover, the developments in design
  engineering and the low pricing of the terminals
  has made them affordable for most of the vendors.

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Continued...

• The rising penetration of the Internet and
  payment solutions, such as online payments,
  stationary phone and mobile payments, has given
  an impetus to the POS terminals market. The
  systems are gradually shifting towards digital
  format, with e-mail and electronic receipts
  allowing paper free transactions. In addition,
  increased adoption of debit and credit cards has
  generated a high demand for these devices. With
  the advancements in payment technologies, the
  industry is migrating towards EMV chip card
  payments which is anticipated to further fuel the
  POS terminals market momentum in the next seven
  years.
• A key challenge for the industry participants is
  the privacy and security concerns associated with
  data breaches. The non-compliance towards Payment
  Card Industry Data Security Standard (PCI-DSS) is
  increasing the prospect of card data breaches,
  which is resulting in the financial impacts. The
  migration of the global payments market towards
  more secure chip card technology is anticipated
  to subdue the impact of this challenge.

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China POS Terminals Market Size, By Application,
2016 2024 (Bn)

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Sale Terminals Market _at_ http//goo.gl/kYezEx R
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Continued...

• Rise in the reasonably priced wireless
  communications technologies is fueling the mobile
  POS terminals market demand. Presence of
  universal wireless connectivity such as
  Bluetooth, and the availability of mobile card
  readers, scanners, printers, and other devices
  has driven the industry growth. This growth has
  encouraged retail and hospitality industries to
  leverage new strategies and applications to offer
  a seamless customer experience.
• The healthcare application is expected to witness
  high growth opportunities owing to the rising
  need to streamline payment practices which is
  determined to drive the POS terminals market
  demand. The systems are enabling the exchange of
  healthcare data which includes administrative,
  clinical and financial data, through a secure and
  safe infrastructure. With the rise in high
  deductible insurance plans, and the patients
  desire to negotiate healthcare costs in real-time
  it has led to an increased number of card based
  payments by patients thereby fueling the system
  installations at healthcare institutions and
  providing a growth impetus to the POS terminals
  market.

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Continued...

• The APAC POS terminals market is predicted to
  witness substantial growth owing to the growing
  usage of smartphones and the considerable
  unbanked population in densely inhabited
  countries. Increasing number of healthcare
  facilities coupled with the developing payment
  landscape is anticipated drive the demand. In
  addition, China and India POS terminals market
  are anticipated to act as an impetus in
  generating a demand for the systems owing to a
  speedy increase in the number of businesses and
  SMEs.
• The key industry players include VeriFone Systems
  Inc., Toshiba Corporation, Squirrel Systems,
  Shenzhen Xinguodu, Samsung Electronics Co., Ltd.,
  Panasonic Corporation, PAX Technology, NEC
  Corporation, NCR Corporation, Ingenico Group,
  Fujian Newland and Cisco Systems, Inc. The
  industry is growing steadily with extensive
  demands, industry players are investing in RD to
  gain a competitive advantage, which is
  anticipated to result in mergers and
  acquisitions. In the industry, the number of
  solution providers and manufacturers are likely
  to increase, thereby escalating industry
  competition in the coming years.

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