Global Battery Market for Point of Sale Terminals 2017-2021
About Battery Market for POS Terminals
Increased penetration of POS terminals in the retail and hospitality sectors is driving the market. The need for secure transactions by the merchants in these sectors will likely fuel the market growth during the forecast period. The rise in the number of retail outlets is another major factor contributing to the growing sales of POS terminals. Post-2018, the revenue earned by the vendors is likely to be largely based on the software and add-on services provided by them. Add-on services include store management tools such as inventory management, sales analysis, customer relationship management, advertising, and marketing.
Technavio’s analysts forecast the global battery market for POS terminals to grow at a CAGR of 9.35% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global battery market for POS terminals for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Battery Market For POS Terminals 2017-2021
Technavio recognizes the following companies as the key players in the global battery market for POS terminals: LiPol Battery, Overlander, Panasonic, and Shenzhen Glida Electronics.
Other Prominent Vendors in the market are: Ayaa Technology, Hangzhou Future Power Technology, HCT Electric, Sanyi Doctor Technology, Shenzhen Cowon Technology, Shenzhen CPKD Technology, Shenzhen Enbar Technology, and Ubetter Technology.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is declining Li-ion battery prices. The growing global POS terminals market highly relies on the Li-ion battery dynamics. Li-ion batteries have higher energy densities than NiMH batteries. Having high energy density means that the battery can store more electricity in the same size cell. This is what makes the Li-ion batteries ideal for use. The Li-ion battery prices have been declining since 2007. The cost of battery packs for electric vehicles has decreased by about 45% from 2007 to 2014. The Li-ion batteries are expected to decline further by 50% during the forecast period.”
According to the report, one driver in market is augmented demand from the consumer electronic market. The consumer electronics market is gaining momentum owing to the increase in disposable income and decreasing price of consumer electronic products due to constant advances in technology. The consumer electronic market is expected to grow during the forecast period. In countries such as China, India, and Japan the living standard has increased drastically in past years owing to increase in per capita income or average income. With this increase in per capita income, the average spending has also increased drastically. Due to this, the global consumer electronic market has increased. Consumers are buying products as per their needs and the new technologies and new features in consumer electronic products is driving the market growth.
Further, the report states that one challenge in market is misconceptions regarding EMV POS terminals. Though many countries favor EMV POS terminals to tackle card fraud, there is a lack of awareness among merchants regarding the benefits of EMV POS terminals. This has hindered the adoption of EMV terminals to an extent. Some merchants especially in the MSME segment have low transaction volume and have never encountered card fraud. So, they are reluctant to replace their existing POS terminals. The liability shift policy has become effective in the US; however, there are several merchants who are yet to adopt EMV-compliant POS terminals. Incurring additional costs for new hardware is a major hindrance for them. There is also a small percentage of vendors, mostly microenterprises, that are yet to be educated about the liability shift policy.
LiPol Battery, Overlander, Panasonic, Shenzhen Glida Electronics, Ayaa Technology, Hangzhou Future Power Technology, HCT Electric, Sanyi Doctor Technology, Shenzhen Cowon Technology, Shenzhen CPKD Technology, Shenzhen Enbar Technology, Ubetter Technology.