Global Retail POS Terminals Market to hit $45bn by 2024: Fractovia.org
The industry statistics report “Retail (Point of Sale) POS Terminals Market Size By Product (Mobile, Fixed), By Services (Professional services, Support & Maintenance, Training), By Component (Software, Hardware), By Application (Department Store, Supermarket/Hypermarket, Warehouse, Convenience, Discount Store, Specialty Store, Drugstore, Category Store), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Mexico), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” by Global Market Insights Inc. says Retail Point of Sale Terminals Market to grow at 14% CAGR from 2016 to 2024. Rising trend towards cashless transactions driven by acceptance of online payment and mobile payment options will boost retail POS terminals market development. Growing necessity to curb black money transactions, frauds, money laundering, and illegal cash transactions are expected to supplement the industry growth over the coming years.
Wide applications across department stores, category stores, convenience stores, warehouse, discount stores, supermarkets, specialty stores, and drugstores is expected to elevate retail POS terminals market growth over the next few years. Supermarket applications, which contributed nearly 35% of the global retail POS terminals market share in 2015, will experience substantial growth over the coming timeframe. Growing need to improve the consumer experience, ability to minimize manual error, and proper inventory & employee tracking are the major market growth drivers. Mobile and Fixed POS terminals are the key products of retail POS terminals. Mobile POS terminals market size, worth USD 11.54 billion in 2015, is expected to witness a significant surge over the coming timeframe. Enhanced use of mobile instruments such as smartphones, iPhones, and tablets is expected to drive retail POS terminals industry size over the years to come.
1|Page