The analysts forecast global POS terminals market in the retail sector to grow at a CAGR of 13.37% in terms of revenue during 2014-2019.
POS terminals are a combination of hardware and software, which allows users to accept card payments directly without updating the cash registers. The cost of installing a terminal vary with the size of the business unit and selling terms with the channel partners and suppliers. A POS terminal is an electronic device and performs the following functions:
- Reads the information of a customer’s credit/debit card
- Checks the funds status in a customer’s bank account
- Transfers the funds from customer’s account to the seller’s account
- Records the transaction
- Print the receipt of the transaction
POS terminals are now combined with union pay, which had resulted in increased market growth and shipment in 2014. This can be attributed to growing payment services and usage of debit/credit cards for transactions.Covered in this report
This report covers the present scenario and the growth prospects of the global POS terminals market in the retail sector for 2015-2019. This report considers the revenue generated from the shipments of POS terminals in the retail sector, including fixed POS terminals and wireless POS terminals. This report does not consider the revenue generated from the following:
- Mobile computing devices such as smartphones and tablets used as POS terminals by merchants
- Service and maintenance of POS terminals
- Sales of used POS terminals
Retailers/merchants include the following types of stores that integrate POS terminals for various purposes:
- Hyper store
- Gas stations
- Grocery stores
The report, Global POS Terminals Market in the Retail Sector 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the market landscape and its growth prospects in the coming years. This report also includes a discussion of the key vendors operating in this market.
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- PAX Technology
- Toshiba Tec
Other prominent vendors
Key market driver
- Increased demand for wireless POS terminals
Key market challenge
- Growth of mobile payment market
Key market trend
- Growing market for rigid and flexible display
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