Europe Payment Machine Mounting Systems Market to 2027- Covid-19 Impact and Regional Analysis by Types (POS Mount (Fixed Payment Mount, Drive Extension Arm Payment Mount), Others); End Users (Retail Stores, Restaurant and Pubs, Hotels, Hospitals, Others), and Country
The Europe payment machine mounting systems market was valued at US$ 58.31 million in 2019 and is expected to grow at a CAGR of 5.7% during the forecast period to reach US$ 87.07 million by 2027. According to the European Association for Secure Transactions (EAST) and European Central Bank (ECB), the number of POS terminals across Europe in June 2019 accounted for 14 million. The UK, Italy, France, and Spain are at the forefront of adopting POS terminals, and the count of POS in each country mentioned above is 2.60 million, 2.55 million, 2.18 million, and 1.73 million, respectively. The statistics of adoption of POS systems among end users showcase the demand for POS mounts, and the continuous growth in demand for adoption of POS machines across end users is responsible for the growth of the payment machine mounting system market in the European region.
The European population is technology-oriented mass and indulges themselves in adopting newer technologies. The usage of card-based payment systems is a long-standing system, and due to the adoption of POS systems is also a decade-old technology. The awareness related to the benefits of cashless payment using POS systems is high, and the usage of card-based payment systems continues to rise over the years. This factor has propelled the procurement rate of POS systems, which in-turn has catalyzed the demand for POS mounts. This is responsible for the growth of payment machine mounting system market. The payment machine mounting system market in Europe encompasses numerous players which engage themselves in innovating and designing robust mounting systems. The existence of a large number of POS mount manufacturers in the region is a catalyzer for the payment machine mounting system market. The different types of POS mounts manufactured by the market players include; fixed table-top POS mounts, wall hanging POS mounts, height adjustable POS mounts, and drive arm extension POS mounts, among others. The continuous investments in R&D to innovate POS mount designs is a key growth factor for payment machine mounting system market.
Growth in the number of retail outlets, hospitals, pubs and restaurants across the region is one of a major factor responsible for driving the growth of POS solutions and related products such as mounting stands. The retail companies having online presence are putting additional efforts on expanding their imprints through physical stores. Also, changing lifestyle of individuals and eating habits has resulted into increasing number of restaurants and pubs throughout the region. Thus, rise in number of retail stores, restaurants and pubs is generating substantial demand for POS, which is supporting the growth of payment machine mounting systems market in the region.
Due to COVID-19 outbreak, Spain, Italy, Germany, UK, and France are some of the worst affected member states in the European region. Businesses in the region are facing severe economic difficulties as they either had to suspend their operations or reduce their activities in a substantial manner. The region is a major manufacturing and industrial hub for sectors such as automotive, energy & power, hospitality, entertainment, and IT& telecom. Hence, due to business lockdowns, travel bans, and supply chain disruptions, the region is anticipated to an economic slowdown in 2020 and most likely in 2021 also.
The overall Europe payment machine mounting systems market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the payment machine mounting systems market. The process also serves the purpose of obtaining overview and forecast for the payment machine mounting systems market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe payment machine mounting systems market. Apollo Electronics Co. Ltd., HPC Systems, ENS-CO, and Ergonomic Solutions, among others are among the key players serving the payment machine mounting systems market in Europe.
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