POS Terminal Market is expected to display a steady growth by 2028|CAGR: 8%| UnivDatos Market Insights

According to a new report published by UnivDatos Markets Insights, the POS Terminal Market is expected to grow at a CAGR of around 8% from 2022-2028. The analysis has been segmented into Component (Software and Hardware); Product (Fixed and Mobile); Deployment (on-premises and cloud) Application (Restaurants, Hospitality, Healthcare, Retail, and Others) Region/Country.

The POS terminal market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the POS terminal market. The POS terminal market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the POS terminal market at the global and regional levels.

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Market Overview

A point-of-sale (POS) terminal is a piece of hardware used in retail establishments to handle card payments. Hardware includes inbuilt software for reading magnetic strips on credit and debit cards. The next generation of point-of-sale (POS) systems will consist of portable (as opposed to counter-anchored) proprietary or third-party devices with contactless capabilities. POS terminal systems have evolved from transaction-oriented terminals/devices to systems that can integrate with the company's CRM and other financial solutions.

The POS terminal market is growing on account of the growing innovations in payment methods and the shift in retail payment methods from hard cash to electronic methods. Moreover, the surge in demand for affordable wireless communication technologies has increased the demand for POS terminals. POS systems utilize wireless devices to facilitate payments for services or products. The use of wireless technology can streamline various processes, from rental cabs to restaurants.

The POS Terminal Market is expected to grow at a steady rate of around 8% owing to the increasing use of translation services in the entertainment and media industry. Some of the major players operating in the market include Acrelec, AURES Group, Elo Touch Solutions, HM Electronics Inc, Hewlett-Packard Development Company, NCR Corporation, Oracle Corporation, Presto, Qu Inc, and Quail Digital, among others.

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Covid-19 Impact

Covid-19 has had a staggering effect and a positive impact on the POS terminal market. Due to lockdowns and social distancing, people were forced to make payments via cashless means such as debit cards credit cards, and online payments. The POS terminal market is expected to grow significantly even after the pandemic as the general opinion about online payments is that they are comparatively very convenient to use.

·???????On the basis of component, the market is bifurcated into software and hardware. Amongst these two, the hardware segment is expected to gain a significant CAGR during the forecast period. The growing adoption of POS hardware can be attributed to rising security threats.

·???????Based on product, the market is segmented into fixed and mobile. The fixed segment is expected to grow significantly during the forecast period. The growing adoption of the fixed segment can be attributed to large-scale vendors who prefer fixed POS terminals mainly due to installation costs and high procurement, which have currently supported market growth.

·???????Based on deployment, the market is segmented into cloud and on-premises. The cloud segment is expected to achieve a considerable market share in 2020. The growth of the cloud segment can be attributed to its cost-effective nature, also, cloud implementation is very inexpensive and easy. The cloud allows companies to pay on an as-needed basis and effectively scale up or down depending on overall usage, user requirements, and the growth of a company.

POS Terminal Market Geographical Segmentation Includes:

·???????North America (United States, Canada, and Rest of North America)

·???????Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)

·???????Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)

·???????Rest of the World

The Asia Pacific region is expected to grow at a significant CAGR during the forecast period. The growing technological adoption and various government initiatives to support a cashless economy are expected to drive the POS terminal market in the region. Furthermore, a rise in digital payment technologies in the region has opened many opportunities for POS in countries such as Japan, China, and India.

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The major players targeting the market include

·???????Acrelec

·???????AURES Group

·???????Elo Touch Solutions

·???????HM Electronics Inc

·???????Hewlett-Packard Development Company

·???????NCR Corporation

·???????Oracle Corporation

·???????Presto, Qu Inc

·???????Quail Digital

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the POS Terminal Market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

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Key questions resolved through this analytical market research report include:

? What are the latest trends, new patterns, and technological advancements in the POS terminal market?

? Which factors are influencing the POS Terminal Market over the forecast period?

? What are the global challenges, threats, and risks in the POS terminal market?

? Which factors are propelling and restraining the POS terminal market?

? What are the demanding global regions of the POS terminal market?

? What will be the global market size in the upcoming years?

? What are the crucial market acquisition strategies and policies applied by global companies?

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