Ingenico, Verifone, Newland Payment Technology, and PAX Global Technology to Lead Global POS Terminal Market
NEW YORK CITY, June 7, 2017 /PRNewswire/ --
A recent report published by Beige Market Intelligence titled "Global POS Terminal Market - Strategic Assessment and Forecast 2017-2022" provides an in-depth analysis of the global POS terminal market and profiles the leading vendors as well as other prominent vendors in the market. The report consists of 161 pages and includes the market size and forecast in terms of revenue and shipment.
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View report for more information: http://www.beigemarketintelligence.com/reports/research-report-consumer-and-retail-market/ pos-terminal-market-point-of-sale-market/ [http://www.beigemarketintelligence.com/reports/research-report-consumer-and-retail-market/pos-terminal-market-point-of-sale-market ]
The report provides a detailed analysis of the POS terminal market key segments by format type, end-users, geography, country, and vendors. It provides a comprehensive analysis of market size and forecast in terms of the following:
- Revenue
- Shipment
By Product Type:
- Based on formats (fixed terminals and mobile terminals)
- Based on compliance (EMV and Non-EMV)
- Based on NFC technology (NFC-enabled and Non-NFC)
By End-user:
- Retail (supermarket and hypermarkets, specialty stores, gas stations, drug stores)
- Restaurant
- Warehouse and distribution
- Entertainment
- Healthcare
- Hospitality
By Geography
- APAC
- EMEA (Europe, Middle East, and Africa)
- North America
- Latin America
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Global POS Market is Likely to Grow at a CAGR Of 12.53%
The demand for POS terminals is primarily supported by two key factors: Increase in per capita GDP, which has led to change in lifestyles in emerging markets and rapid increase in dual-income households in developed markets. The market is particularly well-developed and growing, with the presence of vendors such as Ingenico, Verifone, and PAX Global offering products to a diverse range of merchants. The demand from such vendors has also grown in countries such as the US, China, and India due to increasing retail market as well as the shift of unorganized markets to adopt POS systems in developing countries.
The fixed POS system constitutes the largest market share both in terms of revenue and unit shipment. However, the mPOS segment is expected to grow at a rapid rate during the period 2016-2022, which is higher than the global CAGR for the same period.
View report for more information: http://www.beigemarketintelligence.com/reports/research-report-consumer-and-retail-market/ pos-terminal-market-point-of-sale-market/ [http://www.beigemarketintelligence.com/reports/research-report-consumer-and-retail-market/pos-terminal-market-point-of-sale-market ]
Retail industry to emerge as the largest user-segment in global POS terminal market
Analysts at Beige Market Intelligence estimate that approximately 29.3% of the total point of sale volumes was located at retail outlets in 2016. Retailers have incorporated POS systems with mobile wallets, which help to attract new customers in addition to retaining the current digital payment users.
The retail industry is one of the largest user-segments of cloud-based POS terminal or point of sale systems. Retailers having a chain of outlets across varied regions can access the integrated database of the customer's profile. The cloud-based system helps to merge data across tablets and smartphone interfaces, offine and online shopping, and e-payments.
China emerging as one of the largest POS markets in the world
In 2016, APAC was the largest market for POS terminals, followed by Europe and Latin America. The demand was majorly concentrated in developing countries such as China and India. The report includes the market analysis of different regions such as APAC, Europe, Latin America, MEA, and North America. It outlines the major market shareholders and analyzes the market size of all the leading regions.
China is emerging as one of the largest POS terminal markets in the world and offers a high growth potential for market growth during the forecast period. The North America market is expected to witness a high demand for POS terminals because of their reliability, ease of installation, and convenience.
Intensified price war among vendors expected to increase competition
The competitive scenario in the global POS terminal market is currently intensifying. The rapidly changing technological environment could adversely affect vendors as continual innovations and upgrades are the characteristics of this market.
According to the analysts at Beige Market Intelligence, the existing market scenario is driving vendors to change and refine their unique value proposition to achieve a strong market presence.
The market is moderately fragmented. There are international players providing POS terminals with high functionality and designs. The four major leaders in the market are Ingenico, Verifone, Fujian Newland, and PAX Global. All these companies have a vast presence at least in three major geographical regions such as North America, APAC, and Europe. However, there are local vendors providing products with similar specifications at low prices. This has intensified price wars among vendors.
Other prominent vendors included in the report are BBPOS, SZZT Electronics, Nexgo, Dspread Technology, New POS Technology, Castles Technology, Bitel, Hangzhou Sunyard, Spire Payments, Centerm
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SOURCE Beige Market Intelligence LLP
