Global POS Cash Drawer Market 2017-2021
About POS Cash Drawer
A point of sale (POS) cash drawer is a removable drawer with several compartments for sorting denominations and coins. It is located underneath registers and stores cash from transactions at brick-and-motor stores. A POS cash drawer interface is linked to a POS system, which sends an electrical signal to release the latch. Traditionally, this signal is sent by receipt printer, or manually, among other types. The report segments the market based on interface type and end user. The interface types are categorized into printer-driven, Ethernet-driven, serial and USB-driven and manually-driven cash drawers.
Technavio’s analysts forecast the global POS cash drawer market to grow at a CAGR of 6.57% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global POS cash drawer market for 2017-2021. 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 POS Cash Drawer Market 2017-2021
Technavio recognizes the following companies as the key players in the global POS cash drawer market: APG Cash Drawers, MMF POS, M-S Cash Drawer, and NCR.
Other Prominent Vendors in the market are: CASIO, CyberNet, Diebold Nixdorf, HP Development Company, National Business Systems, Posiflex Technology, SZZT Electronics, and UIC.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing popularity of small POS cash drawers. Decreasing retail footprints and cash transactions have compelled merchants and retailers to demand smaller cash drawers that can reduce the storage space at POS terminals. Vendors are addressing this demand by designing small cash drawers that offer the same functionalities of a full-sized cash drawer.”
According to the report, one driver in the market is safety and effective cash management. Retailers are making significant investments in internal control measures to safeguard their cash and equivalent assets. Since cash is the most important liquid asset of business, ensuring its safety with reliable and stringent controls is crucial. Following proper cash management practices is also relevant to maintain accurate financial reporting. Cash drawers are designed to ensure both safety and effective cash management. They collect, record, and track all cash and non-cash receipts and disbursements.
Further, the report states that one challenge in the market is increasing popularity of non-cash payments in retail stores. The complexities associated with handling and managing cash have given rise to several alternative ways in which payments can be made. Europay MasterCard and VISA (EMV) for instance, is a smart card-based payment system that facilitates payments at both EDC and POS terminals. These cards are designed with inbuilt chips that give users a unique identity. In addition to this, they ensure safe and secure transactions as they mandatorily require personal identification number (PIN) for every transaction made by a user.
APG Cash Drawers, MMF POS, M-S Cash Drawer, NCR, CASIO, CyberNet, Diebold Nixdorf, HP Development Company, National Business Systems, Posiflex Technology, SZZT Electronics, and UIC.
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