Ken Research has announced its latest publication on the growth estimates of POS machine industry in the global market named as, “Global POS machine Industry Situation and Prospects Research report 2017“. The report dispenses the key trends and in-depth analysis over the growth prospects of the POS machine industry accompanied with the integrity of logic and the comprehensiveness of contents that is substantially guaranteed to enrich the report reader who is either an industry insider or investor, with the professional and extensive data analysis. Moreover, the opportunities for new investment projects being assessed are also provided.
In accompaniment, this report also provides the basic overview of the industry inclusive of its definition, applications, classifications, industry chain structure, international developmental history, competitive landscape analysis, the major regions development status and policies/plans, manufacturing process and cost structures, import/export, supply and consumption figures, cost price, revenue and gross margin by regions, global company profiles, product picture and specification, capacity, production, contact information, upstream raw materials, equipment and downstream consumer analysis.
INDUSTRY ANALYSIS AND TRENDS
The POS (Point of sale) solutions are dynamic in nature with the kinds of businesses they cater, which vary in size, scope, location, products, services, management styles, customer base, and many other factors. Including a synthesis of hardware and software, the POS machine industry is coming up with the right blend for the various business models in order to create avenues for helping businesses make good decisions and find the support they need.
Driven by innovations, the POS machine industry is leading to an immense elevation in the adoption across different industry verticals such as entertainment, hospitality and restaurants. Moreover, the companies are highly contributing to the development of innovative solutions for healthcare and retail industry in order to increase profitability. For dispensing a personalized, interactive, and unique experience to customers, they are moving over simpler transaction methods and are integrating the point-of-sale systems with inventory, merchandising, marketing, and Customer Relationship Management (CRM) data. They are further proving to stand the competition in the market with the mobile applications having the ability to create new channels for the revenue growth. The advent of affordable wireless communication technologies has led to an increased consumer acceptance for these systems. Furthermore, the flexibility of having a smartphone or tablet-based POS due to the low installation costs has attracted SMBs to invest in this technology.
The global POS machine industry can be bifurcated on the basis of product: into fixed and mobile POS terminals; on the basis of components: into hardware and software; and on the basis of applications: into restaurants, hospitality, healthcare, retail, warehouse, entertainment, and others. The growing usage of these systems across the retail sector is projected to boost demand and is anticipated to grow remarkably over the next few period.
As stated by the market research, the world economy enlarged by just 2.2 per cent in the year 2016, and is anticipated to further extend by only 2.7 per cent in 2017 and reach till 2.9 per cent in 2018; it can be contemplated as a state of stagnant growth. It is not to say, that the market growth is impeded, but rather it’s moving on a very sedating pace of recovery indicating the state of economic stabilization for the present as well as the future rather than a robust revival of global demand. Moreover, the correspondence between the demand, investment, trade and productivity coupled with the weak global growth may prove to be self perpetuating for the POS machine industry.
The POS machine industry is driven by the growing demands for the integrated POS, contactless payments, along with the proliferation of NFC devices in the industrial ecosystem. Additionally, the increased investment in the line bursting technology, the ever-changing consumer expectations, rising debit/credit card payments, paper-free receipting services, enhanced security, free floor space, reduced customer time in line and sophisticated data analytics are projected to play a vital role in augmenting the demand. Owing to the security risks and to reduce fraud, retailers across the globe are accepting highly secured technology such as EMV that is expected to propel the POS machine market share. Further, the low penetration and significant unbanked populations in countries are expected to drive the demand over the forecast period. However, the need for extensive government certifications and regulations, coupled with data security concerns, is expected to act as a restraint to market growth. Another obstruction could be the loss of consumer trust and reputation of the representatives through the non-compliance to PCI Data Security Standards (DSS) which increases the probability of card data breaches.
The segmentation by region portrays North America as dominating the market worldwide in terms of engulfing the revenue share. Developing regions such as Asia Pacific with the increasing consumer base, owing to the increased SMBs and the reduction in total cost of ownership (TCO), is expected to positively impact the regional market. Modernization of retail sector such as supermarkets and hypermarkets in the emerging economies of India and China POS market size is contributing to the regional growth. The key players identified as playing significant role in the growth and development of the POS machine industry include VeriFone Systems, Fujitsu, Honeywell, First Data, Motorola Solutions, Ingenico, Intermec, CASIO, Data Logic, NCR, Summit POS, NEC Corporation, DIGITAL DINING, GuestLogix, VISIONTEK, Xinguodu Technology, Newland Group, PAX Technology, Partner Tech, and Sunyard. These players are focused on offering advanced solutions to address rising threat of security related risks across verticals including healthcare, retail and warehouse. Moreover, the key strategies adopted by them include the strategic mergers and acquisitions. For instance, in January 2015, Ingenico acquired ROAM Data Inc., a mobile payment-based company.
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