POS Terminal Market Report 2016-2024

POS Terminal Market Outlook

Global POS Terminal Market Outlook 2024: Global Opportunity & Growth Analysis, 2016-2024

Report Code :CHM 1958

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Global POS Terminal Market Size (USD Billion) & Growth Analysis Global POS Terminal Market Size (USD Billion)-2016-2024

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e l p

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Source: Goldstein Research

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POS Terminal Market is anticipated to expand at a compound annual growth rate of XX% during the forecast period i.e. 2016-2024. The market is anticipated to reach USD XX Billion by the end of 2024. Ease of use and improved return on investment (ROI) offered by these systems has favorably impacted the market. Increased demand for mobile POS (mPOS) terminals such as smart card EFT (Electronic Funds Transfer) is estimated to drive the market.

Fixed POS terminal industry, dominated the overall revenue share in 2016 by XX%. For any retailer considering a new POS software, advanced import / export functions is a key feature as it determines how quickly one will be able to load your products into a new system and, even more importantly, whether you can retrieve your data should you wish to eventually switch systems. A solid POS will include the option to save import mapping as templates so that one can more easily import standardized spreadsheets such as new product lists from suppliers. Further, as credit and debit cards continue to grow in popularity, it is increasingly important for business owners to manage the cost of their monthly processing fees. Merchant services like card processing are an important added value as they offer better cashflow and minimize theft, but depending on the provider, processing fees can easily eat into profit margins. Such benefits are expected to increase the adoption of POS in near future.

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Global POS Terminal Market Outlook  The global POS terminal market size is registering an impressive growth of XX% in 2016 and all the four regions Americas, Asia-Pacific, Europe, Middle East and Africa demonstrating positive growth prospects in near. North America stood as the largest POS Terminal Market in 2016, followed by Europe. Whereas, over the forecast period (2016-2024) Asia Pacific is projected to grow at highest CAGR of XX %, due to increasing adoption of cashless system of economy.

Working Population

 Globally, the research study reflects that factors such as nativity, security, ease of use, availability, convenience, intention to use, complexity of the technology are among the top factors influencing the use of POS terminals.

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 Mobile POS payments contributed to the digital payments value with about XX% or USD XX billion in 2017. Given the high internet coverage and smart device penetration, the adoption of digital payment services in developed countries is mainly a question of convenience and added value to the existing infrastructure.

Internet Penetration

 The future of payments is obvious that the way we pay for goods and services, online as well as offline, is about to change radically due to emerging digital services. China has emerged as a mobile-first country, that sets the standards for mCommerce shopping as well as mobile POS-solutions very high.

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 Global Digital Payments are expected to double their transaction value by 2022 to reach USD XX billion. Mobile Payments are expected to grow almost 6-fold between 2017 and 2022 at a compound annual growth rate of XX%. At the same time, Digital Commerce volume is expected to grow at XX%. Having a look at regional differences, the U.S., Europe and China will account for XX% of the global Digital Payment transaction value by 2022. China‘s share of the global transaction volume will increase to USD XX billion or XX%.

Connectivity Infrastructure

 Although growth rates show high double-digit figures in the Western world, relevant market growth is added by mobile-first countries, especially China, in the next couple of years.

Government Cashless System

Global POS Terminal Market Size (USD Billion) North America

Europe

Asia-Pacific

2016

USD XX Billion

USD XX Billion

USD XX Billion

2024

USD XX Billion

USD XX Billion

USD XX Billion

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Growth Drivers Growing Adoption of Near-field Communication (NFC) Technology for Payments  Ease of use and improved return on investment (ROI) offered by cloud computing & NFC has favorably impacted the market.

Increased demand for mobile POS (mPOS) terminals such as smart card EFT (Electronic Funds Transfer) is also estimated to drive the market.  Increased penetration of NFC-based smartphones is expected to increase NFC POS terminals demand. This is attributed to worldwide recognition of TCP/IP connectivity enabled terminals and increase in affordable wireless communication technologies.

Global Shipment of NFC Ready POS and NFC Ready Mobile POS (mPOS) Terminals, 2016 Sample Request

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NFC Ready POS

NFC Ready mPOS

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Impact on Global POS Terminal Market

Asia Pacific Penetration of Internet Connectivity, 2016-2020

Rising Penetration of Internet Connectivity & Smart Devices XXXXXXX XXXXXXX

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Impact on Global POS Terminal Market

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China Digital Payment Market, 20162024

Inclination Towards Digital Payment System XXXXXXX XXXXXXX Impact on Global POS Terminal Market

High

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Medium

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Low

Impact on Global POS Terminal Market Copyright

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Market Trends & Opportunities Global Digital Payments transaction value (USD Billion), 2024 XX

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Mobile POS Payments

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United States

Digital Commerce

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Europe

Large players such as PayPal, Apple, Amazon & Facebook are putting significant amounts of money into online and mobile payment solutions. The ongoing development from separate online shops towards integrated online shopping ecosystems, in particular the merger of shopping and social media / messaging, enables new business models and opportunities for digital payment methods.

These two payment providers cover almost the entire Chinese Mobile Payment market. Paying the taxi driver, buying a coffee to go on the way to work, ordering cinema tickets and splitting the bill between friends – it’s all covered by one single payment app. And this is what will probably come to Europe and the U.S. as well (sooner or later).

In Europe we observe an evolving FinTech start-up landscape, especially in Online and Mobile Banking.

However, market dynamics and pervasion of innovative FinTech solutions are not comparable to China or the U.S. Future applications: ▪ Checkout areas will become obsolete. Supermarket customers will pay for their goods using their jackets or coats.

▪ Pay-as-you-go: There is no more need for tickets in public transportation systems. When boarding a bus, payments can be triggered by passengers’ shoes.

▪ Vehicles with integrated payment features enable a contactless payment of refueling and parking charges.

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North America POS Terminal Market Attractiveness, By Country, 2016-2024 North America POS Terminal Market Attractiveness, By Country, 2016-2024 XX% XX%

CAGR (%)

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Market Size (USD Billion)

US

Canada

Source: Goldstein Research

North America POS Terminal Market BPS Analysis, By Country, 2016-2024 XX% XX% XX%

40%

XX%

42% Canada

XX% XX% XX% XX%

60%

US

58%

XX% XX% XX% 2016

2024

Source: Goldstein Research

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Global POS Terminal Market Outlook

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Our mission is simple: to develop insightful business solutions, help our clients make powerful future decisions to keep them well ahead of the game which is the market, and leave a mark across businesses and communities through our well-defined ideas and clear cut forecasts.

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Global POS Terminal Market Outlook

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