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Wiseguyreports.Com Adds “Point Of Sale (Pos) Terminal 2019-2025 Global Market Survey Industry Key Players – Verifone, Pax Technology, Hp Company, Cisco Systems, Elavon” To Its Research Database
Global point of Sale (Pos) Terminal Market to Propagate Rapidly
According to a new report, the global point of sale (Pos) Market is expected to witness sudden growth in the next few years. A point of sale terminal (POS terminal) is an electronic device that is used to process card payments at retail locations.
Some of the key factors driving the POS terminal market size include its ability to read the information off a customer’s credit or debit card, checks whether the funds in a customer’s bank account are sufficient, transfers the funds from the customer’s account to the seller’s account and records the transaction and prints a receipt as well. Advancement in point of sale (Pos) terminal is helping large and small businesses to have greater flexibility, control, and intelligence than before in managing the operational tasks.
Moreover, to cater to the growing wants of the customers, the Point of sale (Pos) terminal makers are coming up with their versions of portable and mobile POS devices. These kinds of devices are used at a variety of outlets can especially when the customers do want to wait to pay for a product or meal. The report also identifies and analyses the emerging trends along with providing a detailed understanding of challenges and opportunities in the Global POS Market.
The major manufacturers covered in this report
Newland Payment Technology
The market for a global point of sale (Pos) Terminal has been segregated into type and application. Based on the type, the global market has been segmented by Component including Hardware, Software, Services; by Product, Fixed Or Wired and Wireless Or Mobile; by Deployment, On-Cloud and On-Premises. The hardware sector emerged as the largest segment in 2018 and is expected to grow in the future as well. Based on the application, the market has been divided into Retail, Hospitality, Healthcare, Restaurants, Entertainment, and Warehouse.
Detailed Regional Analysis
The global market of the point of sale (Pos) terminal has been analyzed across the United States, Europe, India, Japan, China, Southeast Asia and Middle East & Africa (MEA). The APAC market is expected to witness the highest CAGR from 2019 to 2025 which is mainly due to rising product adoption and rapidly expanding electronic payment market. Some other factors that drive the market size include presence of major economies such as China, India, Singapore, Malaysia, Indonesia, which are investing heavily on promoting E-commerce industry coupled with the government initiatives on promoting Digitalization and building a cashless economy will fuel the market for point of sale (POS) terminal during the period. Growing urbanization and rising consumer personal disposable income is also influencing the market growth of point of sale (Pos) terminal market.
Increased competition among the key market players is expected to work in favour of the global point of sale (Pos) terminal market. To explore different opportunities, several global POS manufacturers look to enter fast-developing regions, especially APAC regions, join hands with local companies to enhance their presence in other regions as well.
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