The analysts forecast revenue of the global POS terminals market in the hospitality sector to grow at a CAGR of 14.76% 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 terminal market in the hospitality sector for 2015-2019. The report considers the revenue generated from the shipments of POS terminals in the hospitality sector including fixed POS terminals and wireless POS terminals. The 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
The merchants in the POS terminal market for the hospitality sector include the following:
- Fast-food takeaways
The report, Global POS Terminals Market in the Hospitality Sector 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
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- First data
Other prominent vendors
- PAX Technology
Key market driver
- Increased adoption of EMV cards
Key market challenge
- High entry barriers
Key market trend
- Cloud-based solutions
Key questions answered in this report
- What will the market size be in 2019 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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