Zion Market Research has published a new report titled “Point-of-Sale (POS) Terminals Market By Type (Fixed POS Terminals and Wireless and Mobile POS), By Component (Hardware and Software) for Restaurant, Hospitality (Lodging), Healthcare, Retail, Warehouse/Distribution, Entertainment and Others – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 – 2022.” According to the report, the global Point-of-Sale (POS) terminals market was valued at approximately USD 45.97 billion in 2016 and is expected to reach approximately USD 98.27 billion by 2022, growing at a CAGR of around 13.5% between 2017 and 2022.
A point of sale terminal (POS) is an electronic device which is used to process card payments at retail locations. The point of sale terminal system involves records maintenance and tracking customer orders, processing credit and debit cards and connecting to other systems in a network. It is a computerized replacement for a cash register. POS terminal machines are used to accept cards for payment of service and good. POS terminal allows a cardholder to have a real time online access to funds and information in a bank account through its debit or cash cards.
Browse the full report at https://www.zionmarketresearch.com/report/point-of-sale-terminals-market
An increasing number of e-commerce transactions is one of the primary growth factors for POS market. The rising adoption of mobile devices such as smartphones and tablet computers is also driving the growth of the e-commerce market. The Recent shift in customer preferences towards high volumes of non-cash transactions and availability of addition payment options is anticipated to augment the demand for these systems. However, security concern and lack of awareness of small businesses can impact the growth of the market.
The point of sale terminals market is segmented on the basis of product, component, region, and application. Product segment includes fixed POS terminal & wireless and mobile POS terminal. On the basis of component segment point of sale terminals market is segmented as hardware and software. Application segments of this market are retail, hospitality, healthcare, warehouse, entertainment, and others. At present retail segment is dominating the market due to the high & low volume of transaction. It simplifies the accounting process, offers easy to look up past transactions, creates purchase orders, provides faster service than old-fashioned cash registers, and it can also cut down on user errors. On the basis of the component, the point of sale terminals market segmented as hardware and software. Due to increasing demand from retail businesses and hospitality the POS software segment is expected to reveal high growth over the forecast period.
Key industry participants in global Point of sale terminals market (POS) market include Cisco Systems, Inc., MICROS Systems, Inc., Hewlett-Packard Company, Panasonic Corporation, Toshiba Corporation, PAX Technology Limited, Samsung Electronics Co., Ltd., NEC Corporation, and VeriFone Systems Inc.