Persistence Market Research has analyzed various facets of the POS machine market from a global standpoint and has skilfully 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 scenario and forecasts. This analyses focuses 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 growth 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.
Global POS Machine Market: Dynamics
The enhancements in the POS terminal systems in recent years (for example, features like real time analytics), rising use of mobile devices for POS transactions, emergence of chip-embedded payment cards and PIN (Personal Identification Number) that minimizes security concerns, high government initiatives to encourage the use of payment cards and POS terminals, rise in modern retail, higher adoption of POS terminals in various sectors such as healthcare, hospitality and retail, rapid urbanization and increasing literacy levels, rise in cashless economy and implementation of policies and regulations for electronic payment systems have driven the growth of the global POS machine market. Also, several marketing initiatives and increased focus on customer retention has supported the health of POS machine market worldwide. The customer database on shopping patterns can be recorded in the POS systems which can be used to deploy discounts, promotions and several loyalty programs to generate more opportunities.
Moreover, trends like 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, high initial investment will always be a concern in this market due to costly hardware and software components restraint. 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 throw challenges to the growth of the global POS machine market.
Global POS Machine Market: Segmental Insights
The global POS machine market is segmented by terminal type (fixed POS terminal, mobile POS terminal, pocket POS terminal and POS GSM/GPRS terminal), by Industry (retail and consumer goods, BFSI, healthcare, manufacturing, travel and hospitality, media and entertainment and others) and by region (North America, Latin America, Europe, Asia Pacific and Middle East and Africa).
- North America 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 to register 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 end. This segment is anticipated to show a high market value of about US$ 42.5 Bn in 2025 growing at a robust growth 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 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
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Global POS Machine Market: Competition Analysis
The global POS machine market research report includes company profiles of key players involved in the daily operations of POS machines. Verifone, Ingenico Group, PAX Technology Limited, Shenzhen Xinguodu Technology Co., Ltd., SZZT Electronics Co., Ltd., BBPOS Limited, Fujian Centerm Information Co., Limited, Fujian Newland Payment Technology CO., Limited and New POS Technology Limited are the key players analyzed in the global POS machine research study.
Furthermore, on the basis of geography, the POS machine market is segmented into various regions, which include North America, Latin America, Europe, China, Japan, SEA & Others of APAC, and Middle East & Africa. The North America POS machine market is expected to dominate the global POS machine market due to the high penetration of IoT, the presence of digitalized retail stores, and the availability of resources required for the implementation of advanced POS machines in the region. When considered in conjunction, Asia Pacific, China, and Japan regions held a share of approximately 27% of the global POS machine market. Moreover, the POS machine market has high potential in SEA & Pacific and China as it is an untapped market. In addition, the governments of countries in these regions are undertaking initiatives to spread awareness about POS machines and there is high demand for POS machines in countries such as India and China.