The global Retail POS Terminals Market is expected to reach USD 33.41 billion by 2024, according to a new report by Grand View Research, Inc. The paradigm shift in the payment landscape enables the usage of electronic payment technologies.
Retail
POS terminals have witnessed a considerable growth in the recent years owing to
the rising integration with robust POS platforms and multi-channel selling in
stores. The next-generation point-of-sale systems offer high reliability and
durability, which have significantly reduced the cost of ownership, thereby
increasing the deployment of these terminals in small and medium-sized retails.
With
the evolution of modern merchants and retailers, traditional terminals are
replaced with tablet and smartphone-based terminals. These devices are
difficult to navigate and are less user-friendly for sales support and
customers. With the advent of the mobile POS, merchants are recreating shopping
experience.
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Details of Report @
http://www.grandviewresearch.com/industry-analysis/retail-point-of-sale-pos-terminals-market
Further key findings from the report suggest:
- Fixed POS
terminals are expected to remain the largest segment owing to the
reluctance of retailers to adopt mobile POS terminals due to the rising
security concerns
- The services
segment is expected to grow at a CAGR of over 12% from 2016 to 2024. The
growing demand for Software as a Service (SaaS) and cloud-based solutions
of POS devices is expected to provide growth opportunities
- The global
urbanization and changing consumer preferences are increasing the
footprints in supermarket stores. The efforts retailers are taking to
improvise the in-store experience is augmenting the growth for
point-of-sale devices.
- The North
America retail POS terminals industry is anticipated to reach over USD 8.0
billion by 2024.The brick-and-mortar stores and the e-commerce boom are
increasing the overall consumption of these devices in the region.
- Latin
America is expected to grow at a CAGR of over 11.5% over the forecast
period. Modern retail formats such as hypermarkets and supermarkets are
making inroads in Latin America.With the modernization of retail sector,
the region provides a huge growth opportunity for the adoption of these
terminals over the forecast period.
- The key players
in the retail POS terminals market include Toshiba Tec Corporation,
Ingenico Group, VeriFone Systems Inc., PAX Technology and NCR Corporation
among others. Companies are focusing on providing fully integrated payment
solutions to develop technologies in the payment infrastructure.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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