Retail POS Terminal Market is Growing at a CAGR of More than 10% by 2024

The rising demand for SaaS and cloud based solutions is anticipated to augment the retail POS terminal market growth and create new opportunities for vendors

Retail POS Terminal Market size is expected to exceed USD 40 billion by 2024. The growing adoption of retail management system software is proving to be an opportunity for the developers to cater to the demand from stores in managing their sales, payment, and inventory. The industry players are targeting these demands of the stores by integrating several retail solutions into their offerings. Several features, which are embedded in these solutions include managing inventory, reporting & analytics, mobility & cloud services, integrated payments, onboarding, and support & omnichannel.

Technological advancements such as the advent of near field communication (NFC) technology and biometrics has revolutionized the retail POS terminal market. Integrated card machines allow the usage of multiple payment techniques and can also gather data for providing in depth analysis. Business owners are now required to provide flexible payment option such as credit cards, checks, and digital payments to attract customers.

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Hardware components are experiencing a high demand in the Asia Pacific region with a rise in the adoption of these products in small shops and stores. Countries including China and India have a large number of small-size shops, which prefer hardware solutions over software, further increasing the demand for these devices in the retail POS terminal market. Operations and processes in these stores are relatively less as compared to large retail shops. Developers in the retail POS terminal market are targeting their hardware products in the region to cater to the demand from a widespread customer base.

The penetration of these solutions in supermarkets or hypermarkets is growing at a rapid pace in the retail POS terminal market. The operations of these stores need efficient solutions to manage their inventory, sales, and customer orders. Several players in the industry are offering specific solutions, which perform all the operations required by the stores. For instance, Verifone is offering retail management solutions that provide simplified sales management, payment options, and order management functions.

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North America is experiencing a high demand for these products in the retail POS terminal market owing to the popularity of software solutions. These solutions include management software for restaurants, hospitals, and the retail sector. The U.S. and Canada have a strong presence of players that generate a high demand for these solutions. Some of the major players, which cater to the demands of customers in the region include Ingenico and Verifone, among others.

Players operating in the global retail POS terminal market include Toshiba Corporation, Samsung Electronics Co., Ltd., VeriFone Systems Inc., Ingenico Group, NCR Corporation, Panasonic Corporation, PAX Technology Inc., and Hewlett-Packard Company. Companies operating in the retail POS terminals market undertake business strategies such as acquisitions, collaborations, and product innovations to sustain growth.

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Table of Contents (ToC) of the report:

Chapter 4 Retail POS Terminal Market, By Product
4.1 Retail POS terminals market share by product, 2016 & 2024
4.2 Fixed retail POS Terminals
4.2.1 Global fixed retail POS terminals market, 2013 - 2024
4.2.2 Global fixed retail POS terminals market, by region, 2013 - 2024
4.3 Mobile retail POS Terminals
4.3.1 Global mobile POS terminals market, 2013 - 2024
4.3.2 Global mobile POS terminals market, by region, 2013 - 2024

Chapter 5 Retail POS Terminal Market, By Component
5.1 Retail POS terminals market share by component, 2016 & 2024
5.2 Hardware
5.2.1 Global POS hardware market, 2013 - 2024
5.2.2 Global POS hardware market, by region, 2013 - 2024
5.3 Software
5.3.1 Global POS software market, 2013 - 2024
5.3.2 Global POS software market, by region, 2013 - 2024
5.4 Services
5.4.1 Global POS services market, 2013 - 2024
5.4.2 Global POS services market, by region, 2013 – 2024
5.4.3 Professional services
5.4.3.1 Global professional services market, 2013 - 2024
5.4.3.2 Global professional services market, by region, 2013 – 2024
5.4.4 Support & maintenance
5.4.3.1 Global support & maintenance services market, 2013 - 2024
5.4.3.2 Global support & maintenance services market, by region, 2013 – 2024
5.4.5 Training
5.4.3.1 Global training services market, 2013 - 2024
5.4.3.2 Global training services market, by region, 2013 – 2024

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