The development of small retailers around the world has given a huge push to the expansion of the POS terminal market. The insights into the semiconductors and electronics industry are advanced by Market Research Future, which concentrates on reports on industry verticals that review the market options for growth. An income base worth USD 87 billion is expected to be gained by 2023 while growing at a 9 % CAGR in the forecast period.
With the advancement of technologies and increase in demand for end to end encryption for secure online transactions and is presumed to drive the Point of Sale (POS) terminals market. Additionally, the business enterprises are emphasized on software solution on account of the increase in smartphones.
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The POS Terminal market is categorized based on component, product, deployment, and end-user.
By component, the POS terminal market is sub-categorized as hardware,software, and services. Based on hardware, the market is classified as mobile devices such as tablets and smartphones synchronized with a debit/credit card reader, cash drawers, monitors, and others. Based on services, the segment is segregated as professional services and managed services. On the basis of deployment, the market is segmented as on-premises and on-cloud. Furthermore, by the product, the POS terminal is differentiated as fixed terminal and wireless POS terminal. Based on end-user, the market is divided into retail, warehouse, healthcare, restaurants, hospitality, entertainment, and others.
Some of the key players of Pos Terminal Market Share include Ingenico S.A. (France), Verifone Systems (U.S.), PAX Technology (Hong Kong), HP Company (U.S), Cisco Systems (U.S), Elavon (U.S.), Castles Technology (Taiwan), Newland Payment Technology (China), Panasonic Corporation (Japan), CITIXSYS AMERICAS (U.S.). Touchbistro (Canada), NCR Corporation (U.S.), Diebold Nixdorf (U.S.), Zebra technologies (U.S.), Squirrel Systems (Canada), and BBPOS (Hong Kong).
Geographically, the POS Terminal market is categorized into four different regions of North America, Asia Pacific, Europe and the Rest of the World.
North America and Europe are expected to have a significant growth the POS Terminal market over forecast period, owing to the increase in adoption rate of Bring Your Own Devices (BYOD). Asia Pacific region is expected to be the fastest growing region in POS Terminal market. China, India, Japan, and South Korea are the leading countries. This is attributed to the increase in awareness of analytical tools in educational institutions in the region
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