Retail POS Terminals Market to Register Astonishing 9% CAGR through 2028 : Fior Markets

The report examines and studies the market position and forecast related to production, consumption, cost structure, and historical data.

NEWARK, UNITED STATES, November 9, 2022 /EINPresswire.com/ — As per the report published by Fior Markets, the global retail POS terminals market size surpassed USD 18 billion in 2020 and is estimated to reach USD 35.87 at a CAGR of 9% from 2021 to 2028.

The retail POS terminals market is witnessing significant growth form the past years. This growth is attributed to the reduced costs, improved cellular internet connectivity penetration, and expanded telecommunication and broadband network coverage. Threat related to security may act as a restraint to the retail POS terminals market.

Retail POS Terminals is referred to as taking care of pets staying at house as a family member. Pets help with emotional support, reduce stress level, increase social activities, and also provide companionship. Pets can be of various forms, such as dogs, cats, and birds. They also help in an extraordinarily diverse range of activities; therapy dogs are taken to hospitals, nursing homes, and care centers for the disabled to engage with patients and help them more sociable. The important aspect of Retail POS Terminals is to ensure that the pet is well-trained and proper socializing.

The global retail POS terminals market is expected to witness significant growth. The market for retail POS terminals will be boosted by shifting customer preferences for non-cash transactions and greater acceptance of in-store mobile payments. The steps taken to limit the spread of the virus have had a direct influence on the retail industry’s supply, demand, and operations. The retail POS terminals industry will be further harmed by restrictions on in-store sales and rising internet purchasing tendencies. Increased adoption of mobile POS across several channels will open up a slew of new industry prospects.

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Key players operating in global retail POS terminals market include Ingenico Group, NCR Corporation, Panasonic Corporation, Pax Technology Inc., Samsung Electronics Co. Ltd., Hewlett Packard Enterprise Company, Toshiba Corporation, Micros Retail Systems Inc., and Epicor Software Corporation. To gain a significant market share in the global retail POS terminals market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership. Ingenico Group and NCR Corporation are some of the key manufacturers operating in retail POS terminals market.

For instance, in February 2019, IKEA, a Swedish furnishing retailer, stated that it would test cashless payment in its Gavle store.
In May 2018, Elo Touch Solutions, Inc. has a vast partner network that offers a variety of hardware and software solutions that may be integrated into market players’ products.

Software segment dominated the market and held the largest market share of 40.9% in the year 2020
On the basis of component, the global retail POS terminals market is segmented into services, software, and hardware. Software segment dominated the market and held the largest market share of 40.9% in the year 2020. Due to new capabilities such as recording consumer behaviour, evaluating purchase trends, and delivering tailored loyalty programmes, the software market is projected to develop considerably in the future years.

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Mobile segment dominated the market and held the largest market share of 63% in the year 2020
On the basis of product, the global Retail POS Terminals market is segmented into mobile and fixed. Mobile segment dominated the market and held the largest market share of 63% in the year 2020. This growth is attributed to all advantages like cost-effectiveness, portability, and ease usage.

Regional Segment of Retail POS Terminals Market

North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan India, Rest of APAC)
South America (Brazil and Rest of South America)
Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global Retail POS Terminals market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia-Pacific region holds the largest market share of 25.16% in the year 2020. The Asia Pacific region is projected to see significant development in the retail POS terminals market due to the fast growing retail sector in countries like as India and China. Consumers in India have been urged to adopt cashless transactions as a result of the demonetization effect. The Asia-Pacific region is witnessing significant growth ascertaining to the growing adaption of POS Terminals.

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About the report:
The global Retail POS Terminals market is analysed on the basis of value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.

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