Market Highlights
An electronic cash register (ECR) is a framework designed to facilitate products to be sold at a retail
store. Electronic cash registers assist large retail outlets collect inventory data, minimize register
errors, track sales, and much more. An electronic cash register generally processes goods by
scanning the information provided on a product label (usually by the means of a scanner).
Scrutinizing the price catalogue for the price matching the label information. Adding that price to
the cumulative total of all goods being procured by the customer. Electronic cash register systems
have transformed over the years in an endeavor to make recording the purchase payments as
efficient an experience as possible. They extend the ability to effectively preserve a database of
customers, fast billing, and inventory management. Market Research Future has conducted an all-
inclusive study on the global electronic cash register system market.
The report published through the research indicated that the electronic cash register market has
been expanding under the influence of several factors. The report has revealed that the global
electronic cash register system market is estimated to develop at 11% CAGR throughout the
forecast period ranging from 2017-2023. The demand for effective billing systems has proved to be
a fundamental facilitator of growth for the global electronic cash register system market. This is
further accompanied by the continuing technological shifts in the market. Near-field
communication (NFC) technology is rapidly getting adopted as it enables the users to integrate
contactless payment systems with ease. Mobile type Point-of-Sale (POS) frameworks are projected
to propel rapid market growth over the assessment period owing to the worldwide penetration of
smartphones. Affordability of electronic cash register systems is projected to accelerate the
application of such systems in small & medium sized enterprises. Growing concerns related to data
security are estimated to push market players to innovate security solutions to address the
concern. Additionally, the ever-increasing progressions in technology has made the expectations of
easy payment systems a standard. Businesses are swiftly trying to meet these expectations by
embracing the contemporary electronic cash register systems thus propelling development for this
market.
Segmentation:
The global electronic cash register market report has been segmented to offer an improved
understanding of the different elements that form the market. The worldwide electronic cash
register market has been classified based on product, type, region, and end user. Based on type, the
market has been segmented into application and product. Based on product, the market has been
segregated into checkouts, POS systems, standard ECRs, mobile POS systems, and personal ECRs.
Based on end users, the market has been bifurcated into hospitality and retail. Based on region, the
market has been segmented into Europe, Asia Pacific, North America, and the Rest of the World.
Regional Analysis
North America, at present, holds the primary share in the worldwide market. This dominance is
owing to a booming retail sector and swift adoption of modern technology in the region. Small &
medium businesses and quick service restaurants in North America are adopting electronic cash
register systems at a spurring rate, thus encouraging market growth. The Asia Pacific market is
estimated to expand at an impressive rate owing to the growing support for a cashless country. The
unrealized probability for this market within the APAC region has inspired the market leaders to
move focus to the area. Developing economies of this region are experiencing growing disposable