North America 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 payment machine mounting system market in North America was valued at US$ 74.89 million in 2019 and is projected to reach US$ 95.21 million by 2027; it is expected to grow at a CAGR of 3.5% from 2020 to 2027. The US, Canadian, and Mexican governments are increasingly emphasizing on the retail sector. This is attributed to the fact that the retail sector is one of the primary sectors for GDP growth. In an attempt to grow the retail sector, the governments are urging the retailers to expand their stores across the respective country’s borders. Increase in number of retail stores positively impacts the adoption of technologies. Since Point of Sale (POS) systems are well matured in the North American retail sector, the increase in retail stores in the US, Canada, and Mexican provinces is reflecting the rise in demand for POS systems. This, in turn, increases the demand for POS stands, thereby, boosting the payment machine mounting system market.
Adoption of POS solution within the retail, healthcare, and hospitality industries is increasing. This is impacting the adoption of payment machine mounting systems, such as adapters, cash drawers, and trays. Rise in number of retail outlets, hospitals, pubs, and restaurants across the region is one of a major factors 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 and eating habits of individuals have resulted into increasing number of restaurants and pubs throughout the world. Furthermore, rise in construction of hospitals worldwide is another aspect playing a greater role in boosting the penetration of POS solutions and mounting systems. Moreover, the emerging economies of North America are witnessing rise in construction of retail stores & hospitals, which is projected to provide growth opportunities to the providers of payment machine mounting systems. In addition, continuous technological developments have resulted into emergence of modular mounting solutions for the benefit of mentioned industries.
The US is a major market for payment machine mounting systems especially due to booming retail and entertainment sector. However, due to closure of retail outlets, the consumption of payment mounting solutions has been decreased. Also, the country imports the payment mounting systems from other countries, which has been affected owing to restrictions on supply chain and overseas trade. The factory and business shutdowns across the US, Canada, and Mexico are impacting the adoption of payment mounting systems in retail stores, hotels, museums, and convention center applications. North America is home to a large number of technology companies. Hence, the impact of coronavirus outbreak on the North America market is anticipated to be quite severe in 2020 and likely in 2021. Hence, the ongoing COVID-19 crisis and critical situation in the US is going to impact the North America payment machine mounting systems market growth in a negative manner for the next few quarters.
The overall North America 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 respect 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 experts, 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 North America payment machine mounting systems market. Apollo Electronics Co. Ltd., HPC Systems, ENS-CO, and Ergonomic Solutions are among the key players serving the payment machine mounting systems market in North America."
The North America portable and wearable dialysis devices market is expected to reach US$ 1,799.71 million by 2027 from US$ 1,208.19 million in 2019. The market is estimated to grow at a CAGR of 5.4% from 2020 to 2027.The growth in North America is characterized by increase in the rapidly growing end-stage renal disease and chronic kidney disease, presence of key market players and extensive R&D conducted by various academic and research institutes. In addition, there is also a boom in public healthcare expenditure and an increase in the awareness programs that are further expected to stimulate the growth of portable and wearable dialysis devices market in North America. The outbreak of the COVID-19 pandemic is estimated to less impact on the portable and wearable dialysis device market during the forecast period. It is likely to owe several growth opportunities for the market in the coming years. However, at present and in the following few years is expected to show a negative impact on market growth. US is among the major countries in the portable and wearable dialysis devices market in this region. Technological developments in the country, extensive awareness about medical devices, and growing adoption of superior devices is enabling the country consolidate its medical and healthcare sectors. The country has witnessed the growing number of the partnership in recent years. Furthermore, increasing number of product approvals and consolidation of supply chain are also expected to offer lucrative opportunity for the growth of the market by 2027. Based on product type, the North America portable and wearable dialysis devices market is segmented into hemodialysis and peritoneal dialysis. In 2019, the hemodialysis product type segment held a larger share of the market. Also, the segment is expected to grow at a faster rate during the forecast period.A few major primary and secondary sources referred to in the process of preparing the report on the Portable and wearable dialysis devices market are the World Health Organization, Ministry of Health and Prevention, and Ministry of Health and Family Welfare"The predictive vehicle technology market in North America is expected to grow from US$ 3.90 million in 2019 to US$ 8.52 million by 2027; it is estimated to grow at a CAGR of 12.68% from 2020 to 2027.
The advanced technologies, such as AI, are gaining popularity across North America. AI has its applications in the automotive industry, such as self-driving cars. Blending of AI in automotive industry is bolstering the growth of the automotive industry. AI offers driver-assist and fully autonomous mode functionality to the users. Companies such as Google and Tesla are looking forward to take advantage of stated functionalities. For instance, Tesla has gained a name in the electric car market, and now the company is looking ahead to make a position in self-driving vehicles by integrating AI. Moreover, pertaining to the benefits of AI, including detection of driver’s behavior, AI cloud platforms to ensure data is available on-time, and driving safety features for connected vehicles are responsible for boosting the adoption of predictive maintenance in the automotive industry which is further driving the demand for predictive vehicle technology. Increasing use of predictive powertrain control in heavy vehicles is among the other factors expected to positively influence the demand for predictive vehicle technology.
In terms of hardware, the ADAS segment dominated the North America predictive vehicle technology market in 2019. The demand for ADAS, which assists in monitoring, braking, warning, and steering activities, is projected to rise in the coming decade. Factors such as government regulations and consumer interest in safety applications are accountable for the rising need for ADAS in connected cars. Also, in order to ensure the safety of drivers and reduce road accidents, the need for ADAS is growing across the countries. The ADAS applications are still in their early phase and are getting adopted by major countries. For instance, the US is making it compulsory that all vehicles be equipped with forward-collision warning systems and autonomous emergency braking systems, which eventually proves out to be a major driver for the predictive vehicle technology market. Also, in North America, the effects of COVID-19 outbreak are devastating. The US has higher number of confirmed cases of coronavirus, compared to Canada and Mexico. The fast increase in the number of confirmed cases and reported deaths are likely to impact the businesses operating in this region. Due to the COVID-19 outbreak in the region, the supply chain and sales are getting affected. In addition to this, the overall manufacturing processes, research, and development activities would also get affected in the short term.
The overall North America predictive vehicle technology 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 market. The process also serves the purpose of obtaining overview and forecast for the North America predictive vehicle technology market with respect 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 such a process include industry experts, 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 North America predictive vehicle technology market. Key players operating in the North America predictive vehicle technology market include AISIN SEIKI Co. Ltd., Aptiv PLC, Continental AG, HELLA GmbH and Co. KGaA, NXP SEMICONDUCTORS N.V., Robert Bosch GmbH, Valeo, Visteon Corporation, and ZF Friedrichshafen AG.
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