POS Terminals Market Size likely to exceed revenue of USD 103 billion by 2023

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Point of Sale Terminals Market size worth USD 103
billion by 2023 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

• POS terminals market size was over 32 million
  units in 2015, which is forecast to grow at 18.3
  CAGR to reach 126 million units by 2023.
• Owing to the increased pressure to minimize
  costs, manage liability and comply with
  government regulations, the healthcare industry
  has invested in the POS terminals market for
  viable services.
• Complying with applicable regulations such as
  patient information privacy laws and PCI, POS
  systems provide various solutions including
  automatic blocking of expired items, aging
  reports for inventory tracking, fast billing with
  multi-tender types and patient data tracking
  services.

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Continued...

• Growing adoption of advanced payment options by
  small retailers across the globe has driven the
  POS terminals market in the retail sector. Low
  cost mobile technology are expected to be a key
  element to enable consumer oriented mobile
  shopping experience. The segment is projected to
  surpass USD 30 billion by 2023.
• Hardware will continue leading the industry
  through the forecast period. Software and
  efficient after-sales service act as major
  criteria for buyers.
• Biometric terminals are poised to exhibit growth
  in the coming years. These products help improve
  efficiency since they do away with overheads such
  as resetting passwords and also lower frequency
  of support calls.

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Continued...

• In the U.S., card networks are pushing companies
  to accept EMV compatible terminals, thereby
  improving security over magnetic cards. The Asia
  Pacific POS terminals industry is estimated to
  reach USD 31 billion by 2023.
• Major companies accounting for global POS
  terminal market share are Ingenico and VeriFone.
  Electronics payment manufacturer PAX Technology,
  Panasonic, NEC, Toshiba, Samsung, HP, and Cisco
  are among other notable participants.

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India POS terminal market share, by
application, 2012 - 2023 (USD Billion)

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360 Analysis

• Application Analysis
• Emergence of mobile wallet technologies will lead
  to higher penetration of retail oriented products
  into the near future. Retailers have begun
  creating shopping apps that help consumers obtain
  product information. These value added services
  and new acceptance capabilities also foster
  enhanced in-store mobility levels.
• Regional Analysis
• U.S. POS terminals market size was over USD 11
  billion in 2015. Growing demand across
  application areas coupled with increasing
  preference for portability and connectivity is
  expected to favorably impact the regional
  industry.
• Competitive Market Share
• Ingenico, VeriFone, and PAX Technology occupied
  majority of the global POS terminals market share
  in 2015. As mobile-based technology has been
  replacing conventional fixed terminals, vendors
  have to deal with low profit margins. To address
  the increasing competition, leading manufacturers
  are focusing on diversifying their product
  portfolio.

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