Global Point-of-sale (PoS) Systems Market 2017-2021
About Point-of-sale (PoS) Systems
Point-of-sale (PoS) systems are devices that ensure cashless transactions of goods and merchandise. These systems are used majorly by the retail and hospitality sectors, making transactions simpler and easier. It enhances the overall shopping experience by reducing the payment processing time and providing vital information about the consumers' buying behavior to companies using such systems. It can also help retailers and hoteliers to manage information about their inventory, customers, and cash flow.
Technavio’s analysts forecast the global point-of-sale (PoS) systems market to grow at a CAGR of 7.79% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global point-of-sale (PoS) systems market for 2017-2021. To calculate the market size, the report considers the revenue generated by the sales and shipments of PoS systems.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Point-of-sale (PoS) Systems Market 2017-2021
Technavio recognizes the following companies as the key players in the global point-of-sale (PoS) systems market: 3M, Elo Touch Solutions, HP, Innolux, Panasonic, Samsung, Seiko Epson, Sharp, and Toshiba
Other Prominent Vendors in the market are: Bixolon, BOCA Systems, Cognitive TPG, CUSTOM, M/s Pulsar Technologies (I), NCR, Pertech Industries, POS-X, WOOSIM SYSTEMS, Xiamen Rongta Technology, and Zebra Technologies
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increase in data collection from PoS accessories. The retail and hospitality industries are using PoS accessories, such as ECRs and the barcode scanners, to manage inventory and compute sales figures efficiently. Organizations receive huge amounts of unstructured data that include e-mails, surveys, and different kinds of reports such as product reports and corporate reports. Unstructured data cannot be stored in a structured format in databases. Hence, the management and analysis of unstructured data are major challenges. Imaging technology can read barcodes and provide images that form the basis of item recognition systems using visual pattern recognition software. Combining these two data sets with the help of big data can help an organization significantly.”
According to the report, one of the major drivers for this market is Evolution of the global retail landscape. The retail environment globally is undergoing a drastic change with an increase in the number of outlets, especially in developing countries. Most the leading branded retailers have started focusing on these regions as they strive to capture untapped and unorganized retail environments. Moreover, the rising disposable income in such developing regions boosts the growth of the market. Major retailers such as Walmart, Tesco, Carrefour, and Metro are expanding their presence in Africa and APAC.
Further, the report states that one of the major factors hindering the growth of this market is Increased adoption of mobile card readers. Mobile card readers are the simplest form of PoS terminals that are witnessing increased adoption among merchants who were initially reluctant to adopt this technology. Mobile card readers can be connected to devices such as smartphones and tablets, making them highly portable. Moreover, merchants do not have to spend much time in acquiring them, setting them up, or getting regulatory approvals.
3M, Elo Touch Solutions, HP, Innolux, Panasonic, Samsung, Seiko Epson, Sharp, Toshiba, Bixolon, BOCA Systems, Cognitive TPG, CUSTOM, M/s Pulsar Technologies (I), NCR, Pertech Industries, POS-X, WOOSIM SYSTEMS, Xiamen Rongta Technology, and Zebra Technologies
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