Global Electronic Cash Register Market 2017-2021
About Electronic Cash Register
An electronic cash register is a part of a POS system. It is an electronic device used for registering and calculating transactions at a POS.
Technavio’s analysts forecast the global electronic cash register market to grow at a CAGR of 8.48% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global electronic cash register market for 2017-2021. To calculate the market size, the report considers the unit shipments of ECRs in various end-user segments. They also include the revenue generated depending on the ASP calculated by various vendors. It excludes the shipment of POS terminals.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Electronic Cash Register Market 2017-2021
Technavio recognizes the following companies as the key players in the global electronic cash register market: Toshiba, Sharp, CASIO, Dell, and Olivetti.
Other Prominent Vendors in the market are: Citaq, Forbes Technosys, Fujitsu, Guangzhou Zonerich Business Machine, Hewlett-Packard, NCR, Posiflex Technology, Shinheung Precision, and Wincor Nixdorf.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is growing use of NFC-enabled mobile devices. The ECR market growth is affected by negative trends in the market such as the increasing use of smart devices, including smartwatches, smart wristbands, and smartphones, that have NFC capabilities.”
According to the report, one of the major drivers for this market is low cost of ECRs. ECRs offer several benefits to businesses such as tracking customers' transactions, maintaining databases of goods, and speeding checkout times. ECRs are easy to use and help in accurately tracking transactions. Some ECRs are available for a low cost and yet have improvised functions such as checking product prices, recording sales, calculating bills and change, and printing customer receipts.
Further, the report states that one of the major factors hindering the growth of this market is growing number of online transactions. E-commerce is spread across more than 100 economies worldwide. This is mainly because of the increased trade opportunities in various regions. Online shopping has gained high popularity, leading to the increased number of online transactions. Many users find online transactions convenient and safe as banks provide high security for online transactions. With banks providing high levels of security, the majority of the B2B transactions are done using Internet banking. Large enterprises in the manufacturing, production, service and maintenance, and government sectors use Internet banking instead of ECRs. Therefore, vendors in the market cannot target many enterprises that are in the B2B sector.
Toshiba, Sharp, CASIO, Dell, Olivetti, Citaq, Forbes Technosys, Fujitsu, Guangzhou Zonerich Business Machine, Hewlett-Packard, NCR, Posiflex Technology, Shinheung Precision, and Wincor Nixdorf.
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