The introduction of chip-embedded payment cards and Personal Identification Number (PIN) are among factors that have boosted the number of POS machines. In addition, growth in the number of departmental & retail stores and the rapid transition toward digitalization in developing countries are among factors fuelling the demand for POS machines. The demand for POS machines is expected to increase further in proportion with the implementation of advanced technologies. As a result, the POS machine market is expected to exhibit a double-digit growth rate during the forecast period.
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- Ingenico Group
- PAX Technology Limited
- Shenzhen Xinguodu Technology Co., Ltd.
- SZZT Electronics
- Newland Payment Technology Co., Ltd
- Aures Group
- Castles Technology Co., Ltd
- Cybernet Manufacturing, Inc.
- Posiflex Technology, Inc.
- EJETONResearch Methodology
- Mitsubishi Electric Corporation
- Sharp Corporation
- Toshiba Corporation
- BOE VARITRONIX Limited
- AU Optronics Corp.
- Phoenix Display International, Inc.
global POS machine market:Overview
A POS machine is an electronic terminal used for the processing of transactions with the help of a card (debit/credit/other) by end-users in various locations, which include retail stores, multiplexes, banks, and health centers. Moreover, the increasing adoption of debit card/credit cards is expected to correspondingly boost the demand for POS machines worldwide.
In this report, PMR has segmented the global POS machine market on the basis of POS terminal type, industry, and regions. On the basis of POS terminal type, the POS machine market is subsegmented into fixed POS terminals, mobile POS terminals, pocket POS terminals, and POS GPS/GPRS terminals. Among the abovementioned subsegments, the GPS/GPRS POS machine terminals segment is expected to exhibit a higher CAGR during the forecast period.
However, the mobile POS machine terminals segment is expected to dominate the global POS machines market by the end of the forecast period. Thus, mobile POS machines are expected to witness higher demand and adoption as compared to fixed POS machines owing to the portability offered by them. In addition, the mobile POS machine terminals segment is expected to witness an incremental opportunity of US$ 26,770.3 Mn from 2018 to 2026.
Some of the recent trends governing the growth of the POS machine market include the adoption of mobile devices for POS transactions, increasing penetration of IoT, and advancements in POS terminal systems in the recent years such as real-time analytics features.
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POS machine market is subsegmented into retail & consumer goods, travel & hospitality, BFSI, media & entertainment, manufacturing, healthcare, and others
Based on industry, the POS machine market is subsegmented into retail & consumer goods, travel & hospitality, BFSI, media & entertainment, manufacturing, healthcare, and others. A high adoption of POS machine terminals has been witnessed in the consumer goods and retail segment owing to the initiatives undertaken by governments for the promotion of cashless transactions and the establishment of various retail stores & multiplexes. Besides retail & consumer goods, the BFSI segment has also witnessed an increase in the adoption of POS and self-service terminals since the past four years.
However, due to the maturity of the market, the aforementioned segments are expected to witness a comparatively moderate growth rate during the forecast period. In terms of incremental opportunity, the healthcare segment is expected to be a moderately attractive segment, owing to which it is recommended for investors to invest in the healthcare vertical during the forecast period.
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.
Some of the market participants in the global POS machine market report include Verifone; Ingenico Group; PAX Technology Limited; Shenzhen Xinguodu Technology Co., Ltd.; SZZT Electronics Co., Ltd.; BBPOS Limited; Fujian Centerm Information Co., Ltd.; Fujian Newland Payment Technology Co., Ltd.; New POS Technology Limited; Cybernet Manufacturing, Inc.; Castles Technology Co., Ltd.; Shenzhen Ejeton Technology Co., Ltd.; Aures Group; and Posiflex Technology, Inc.
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POS machine Market Key Regions covered:
POS MACHINE Market Key Companies
Besides this PMR has also profiled companies offering display panel providers in the POS machine market