POS terminal is an electronic device that keeps records of transactions that occurs between a merchant and a customer. A POS terminal performs several functions, such as checking availability of funds in customer’s account, records the transactions and prints a receipt, and transfer funds from customer’s account to seller’s account. There are primarily two types of POS systems; mobile POS and fixed POS. Mobile POS includes tablets, smartphone, or any wireless devices that wirelessly performs the operations of an electronic POS terminal. However, flexible POS terminals are machines which are used at most of the businesses with high traffic of customers. It offers certain benefits to businesses, such as having efficient business functionality and inventory management. It holds the capability to manage gift cards and loyalty programs.

The major factors contributing towards the growth of the market include rising demand for mobile POS terminals and increasing adoption of contactless payments such as credit cards and debit cards. The adoption of debit and credit card has witnessed significant growth over the last decade. For instance, as per the UK Cards Association, there were a total of 108.4 million contactless cards in issue in April 2017 in UK. These cards are split between debit (72.6 million) and credit/charge cards (35.8 million). This represents a rise of 20.6% over the year. The contactless payments are considered as a secure and rapid method for customers to buy products or services through contactless cards, such as debit, credit or smart cards. This leads to a rise in the demand for contactless cards and thereby, driving the demand for POS solutions. The adoption of POS terminals allows merchants to accept payments at retail locations. In addition, it is used in restaurants and hospitality sector to complete a financial transaction between business and customers.

The global POS terminals market is segmented on the basis of type, deployment type, and application. Based on type, the market is further classified into mobile POS and fixed POS. Based on application, the market is further classified into healthcare, retail, hospitality, transportation, and others such as media and entertainment and government. POS terminals are being significantly adopted in the retail sector. The shift of major retailers towards POS solutions for recording and completing transactions is primarily boosting the growth of the market. For instance, most brick-and-mortar retail stores use both fixed and mobile POS solutions to offer great value and increase the in-store customer experience. Furthermore, the trend towards contactless payments is encouraging retailers to move towards POS systems for a secure and robust transaction, which in turn, enable retailers to offer better customer experience.

Geographically, the global Point-of-sale terminals market is segmented into North America, Europe, Asia-Pacific, and RoW. North American POS terminals market is estimated to hold the prominent share in the market owing to the presence of some crucial companies, such as HP Inc. and NCR Corp. in the region. Moreover, Asia-Pacific is estimated to witness significant growth in the market due to the presence of several large and small retailers in the region. Further, rapid urbanization coupled with increasing population across the emerging economies of the region such as China, India, and Indonesia also contributes to the growth of the market in the Asia-Pacific region.

Some of the key players in the market include NCR Corp., NEC Corp., Verifone Inc., Ingenico Group SA, Toshiba Corp., and HP, Inc. These companies are adopting certain strategies, such as merger and acquisitions, partnerships and collaborations, and product launches to increase market share and gain competitive advantage globally. For instance, in August 2017, NCR Corp. in partnership with Samsung Electronics America, Inc. introduced NCR Silver Quantum, an all-in-one POS commerce station. This features an integrated payment device along with loyalty scanner, customer display, mobile wallet acceptance capability, and Samsung Galaxy tablet. This is aimed to offer a sleek, efficient system to merchants that support to better manage back-office operations and customer POS transactions. With this launch, the company has widened its offerings for small and medium-sized businesses, including retail shops and restaurants.

Research Methodology

The market study of the global POS terminals market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity in our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
  
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for original device manufacturers (ODMs), POS terminals hardware providers, POS terminal software providers, system integrators, software vendors, IoT platform/middleware providers, third-party integration providers, investment companies, and government organizations for overall market analysis and competitive analysis. The report provides in-depth analysis on market size, different product offerings and growth opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for making a better business decision.

Market Segmentation

Global Point of Sale Terminals Market Research and Analysis by Type

Global Point of Sale Terminals Market Research and Analysis by Deployment Type

Global Point of Sale Terminals Market Research and Analysis by Application

The Report Covers

• Comprehensive research methodology of the global POS terminals market.
  
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global POS terminals market.
• Insights about market determinants which are stimulating the global POS terminals market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.