Persistence Market Research has analyzed various facets of the POS machine market from a global standpoint and has skillfully presented them in its new research publication titled “POS Machine Market: Global Industry Analysis (2012-2016) and Forecast (2017-2025)”. The extensive POS machine market research report covers various trends, opportunities, drivers, and restraints influencing the growth of the global POS machine market, along with regional analysis, competitive scenarios, and forecasts. These analyses focus on each segment and sub-segment of the global market, based on which analysts have given their opinions regarding various market dynamics.
Global POS Machine Market: Forecast Insights
The global POS machine market is projected to grow at an exponential rate during the period of assessment. The global market is poised to grow at a value CAGR of 11.5% during the 2017-2025 period to reach a market evaluation of around US$ 144.2 Bn in 2025 from US$ 60.2 Bn in 2017. The growth path of the POS machine market from 2012–2016 was a bit slower as compared to the 2017–2025 period, where it reflects a higher increase in value and volume. To generate more opportunities, shopping patterns can be recorded in POS systems and used to deploy discounts, promotions, and various loyalty programs.
Global POS Machine Market: Dynamics
Recent advancements in POS terminal systems the rising use of mobile devices for POS transactions, the emergence of chip-embedded payment cards and PIN (Personal Identification Number) that reduces security concerns, high government initiatives to encourage the use of payment cards and POS terminals, the rise in modern retail, and higher adoption of POS terminals in various sectors such as healthcare, hospitality, and retail Several marketing initiatives, as well as a greater emphasis on customer retention, have also contributed to the global health of the POS machine market. The client database To generate more opportunities, shopping patterns can be recorded in POS systems and used to deploy discounts, promotions, and various loyalty programs.
Moreover, trends like the adoption of contactless POS, growth in NFC and EMV technologies in POS systems, technological trends like motion sensing images and tablet POS systems, mPOS (mobile point-of-sale), and growth in the retail infrastructure have presented several opportunities in the global POS machine market. However, the high initial investment will always be a concern in this market due to costly hardware and software components. To add to this, the lack of digital awareness, poor use of technology, rise in mobile wallets (especially in emerging economies), and slow penetration of payment cards pose challenges to the growth of the global POS machine market.
The global POS machine market is divided into three categories: terminal type (fixed POS terminal, mobile POS terminal, pocket POS terminal, and POS GSM/GPRS terminal), industry (retail and consumer goods, BFSI, healthcare, manufacturing, travel and hospitality, media and entertainment, and others), and region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa).
• North American region is anticipated to dominate the global market with respect to high revenue by 2025. This region is projected to grow at a high CAGR of 12.1% throughout the period of assessment
• Asia Pacific region shows high potential, as it reflects an exponential growth rate and registers the highest CAGR of 14.1% throughout the period of forecast. this region was valued at US$ 13.4 Bn in 2017 and is expected to show a market valuation of about US$ 38.4 Bn in 2025, a high market standing after North America
• By terminal type, the mobile POS terminal segment is expected to lead the global market by 2025’s end. This segment is anticipated to have a high market value of about $42.5 billion in 2025, growing at a robust rate during the 2017–2025 period. The pocket POS terminal is anticipated to grow at the highest growth rate during the assessment period, to register a CAGR of 14.3%
• Manufacturing segment by industry is poised to register the highest growth rate whereas the retail and consumer goods segment dominates the global POS machine market by industry to reflect a high value of around US$ 31.2 Bn in 2025
