POS Market Analysis by Product Type; By Component; By Deployment;
By Application, By Region & Segment Forecast, 2017 – 2025
Market Definition:
The global Point-of-Sale (POS) market was valued at USD 39.04 Billion in 2015, and is projected to reach USD 108.52
billion by 2025, growing at a CAGR of 10.9% over the forecast period. Rising investments in technological advancements
such as end-to-end encryption for delivering secured payment solutions and customers convenience are projected to
escalate the demand.
Rapidly increasing smartphone penetration has encouraged the industry players to become more focused on software
technology. The technology is also expected to witness a gradual shift owing to rapid technological developments in POS
terminal solutions. Furthermore, the proliferation of Near Field Communication (NFC) devices is anticipated to increase
the demand for contactless payments, further impacting the growth. For instance, in November 2016, Indian economy
was demonetized by government forbidding higher currency notes and launched “Digital India” initiative for online
transaction and cashless economy promotion. Such initiatives have substantially boosted the technology in India. Indian
banks have exceeded the target of 1 million POS terminals post demonetization, henceforth, accelerating the growth.
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Market Growth and Analysis:
Lower prices of supporting software, ease of adoption & use, cost effective integration, space & time saving, and
portability are few of the trends shifting the market from conventional cash payments to Point of Sale payments.
Additionally, increasing mobile payment alternatives and gradual increase in ecommerce transactions offering lower
fees have projected the increase in growth over the forecast period. Wide adoption of wireless payment terminal,
promoting cashless transactions in emerging economies, rising application of MasterCard, Euro Pay, & Visa cards, and
wireless technology emergence in mobile handsets and wearable also drives the market. However, stringent regulations
in applying for government certifications for technology, and rising data security concerns are estimated to pave hurdle
for the growth. Non-compliance to PCI Data Security Standards (DSS) raises the possibility of card data breaches, results
adverse impact on customer trust and representatives reputation. Though, solutions such as Omnishield Assure have
been developed for card information protection via point-to-point encryption. The solution consequently reduces the
burden and minimizes the risk of financial breach.
The global POS technology has been segmented by product type, component, deployment, and application. On the basis
of product type, the industry has been segregated as fixed POS terminal, wireless, and mobile POS terminal. Component
segment has been segmented as hardware and software, while deployment segment has been bifurcated as cloud and
on premise. Based on application, the market has been segmented by restaurants, hospitality, retail, warehouse &
distribution, and entertainment.
Services segment is anticipated to grow at the highest rate over the forecast period