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The American analytical company CNBC has presented a report on the current state of the global POS-terminals market and forecasts for its development from 2021 to 2025. Here are the main costs from the study.
Industry overview
The POS market has shown significant growth in recent years due to the ease of use of the devices and the high probability of a return on investment in these systems. Modern POS systems offer greater strength and reliability than their traditional counterparts such as cash registers. This led to a significant reduction in the cost of installing POS terminals and an increase in market demand from small and medium-sized enterprises. The introduction of chip payment cards and personal identification numbers (PIN) minimized the security concerns associated with compromising customer data. According to forecasts, this will lead to further growth of the POS-terminal market, which as of 2020 was estimated at $ 30 billion.
Terminals with smart card support can read information from both chip cards and magnetic stripe cards. The demand for mobile terminals is expected to drive market growth. A limiting factor is the need to expand and improve the base of government regulations and certifications. The Apple Pay solution, which was presented in October 2014, has every chance of replacing traditional POS terminals in the future. Players like PayPal using mobile mini-terminals can benefit from popularizing their solutions among retailers. Leading solution providers in the POS market place an emphasis on integrating systems with capabilities such as inventory management, pricing, and security of operations.
Product overview
MPOS terminals are predicted to soon replace existing operating and payment methods with enhanced features such as mobility and simplified shopping experience for users. They enable the sales and service industry to conduct financial transactions remotely to improve customer service. Mobile terminals have a low initial cost compared to their traditional counterparts. The retail and hospitality sectors are facing significant growth in demand for mPOS solutions driven by the growing demand for consumer analytics functionality and high margins. The growing penetration of NFC technology in mobile devices is expected to increase the demand for NFC-enabled POS terminals, which are mainly installed to receive tolls. Contactless / mobile POS terminals use technologies such as Wi-Fi, CDMA, GPRS and 802.11 to establish a connection, which significantly reduces the usually high communication costs. The surge in available wireless technologies and the widespread acceptance of TCP / IP are driving the growth of the mobile POS market.
Overview of markets and regions
POS terminals are widely used in various industries such as entertainment, healthcare, hospitality, retail and warehousing. The POS market is vertically fragmented, requiring resellers to understand the differences between each segment. Small and medium-sized retailers are expected to become the largest market segment over the next 6 years, followed by the hospitality industry. Healthcare will also become a key segment thanks to the growth in the use of payments in this area.
As for the regions where POS terminals are distributed, the traditionally strong USA and Western Europe have experienced market saturation. The Asia-Pacific region, on the other hand, will show strong growth rates due to an increase in small and medium businesses. Markets in India and China will grow with the expansion of retail stores. Having a large number of programmers in India will have a beneficial effect on the POS software segment.
Among the industry participants, analysts highlight Cisco Systems, Hewlett-Packard Company, Ingenico, MICROS Systems, NEC Corporation, Panasonic Corporation, PAX Technology Limited, Samsung Electronics Co, Toshiba Corporation, VeriFone Systems.
Industry overview
The POS market has shown significant growth in recent years due to the ease of use of the devices and the high probability of a return on investment in these systems. Modern POS systems offer greater strength and reliability than their traditional counterparts such as cash registers. This led to a significant reduction in the cost of installing POS terminals and an increase in market demand from small and medium-sized enterprises. The introduction of chip payment cards and personal identification numbers (PIN) minimized the security concerns associated with compromising customer data. According to forecasts, this will lead to further growth of the POS-terminal market, which as of 2020 was estimated at $ 30 billion.
Terminals with smart card support can read information from both chip cards and magnetic stripe cards. The demand for mobile terminals is expected to drive market growth. A limiting factor is the need to expand and improve the base of government regulations and certifications. The Apple Pay solution, which was presented in October 2014, has every chance of replacing traditional POS terminals in the future. Players like PayPal using mobile mini-terminals can benefit from popularizing their solutions among retailers. Leading solution providers in the POS market place an emphasis on integrating systems with capabilities such as inventory management, pricing, and security of operations.
Product overview
MPOS terminals are predicted to soon replace existing operating and payment methods with enhanced features such as mobility and simplified shopping experience for users. They enable the sales and service industry to conduct financial transactions remotely to improve customer service. Mobile terminals have a low initial cost compared to their traditional counterparts. The retail and hospitality sectors are facing significant growth in demand for mPOS solutions driven by the growing demand for consumer analytics functionality and high margins. The growing penetration of NFC technology in mobile devices is expected to increase the demand for NFC-enabled POS terminals, which are mainly installed to receive tolls. Contactless / mobile POS terminals use technologies such as Wi-Fi, CDMA, GPRS and 802.11 to establish a connection, which significantly reduces the usually high communication costs. The surge in available wireless technologies and the widespread acceptance of TCP / IP are driving the growth of the mobile POS market.
Overview of markets and regions
POS terminals are widely used in various industries such as entertainment, healthcare, hospitality, retail and warehousing. The POS market is vertically fragmented, requiring resellers to understand the differences between each segment. Small and medium-sized retailers are expected to become the largest market segment over the next 6 years, followed by the hospitality industry. Healthcare will also become a key segment thanks to the growth in the use of payments in this area.
As for the regions where POS terminals are distributed, the traditionally strong USA and Western Europe have experienced market saturation. The Asia-Pacific region, on the other hand, will show strong growth rates due to an increase in small and medium businesses. Markets in India and China will grow with the expansion of retail stores. Having a large number of programmers in India will have a beneficial effect on the POS software segment.
Among the industry participants, analysts highlight Cisco Systems, Hewlett-Packard Company, Ingenico, MICROS Systems, NEC Corporation, Panasonic Corporation, PAX Technology Limited, Samsung Electronics Co, Toshiba Corporation, VeriFone Systems.
