According to a new study published by Polaris Market Research the worldwide Retail POS Terminals market is anticipated to reach USD 49,863 million by 2026. In 2017, the fixed POS terminals dominated the global market, in terms of revenue. North America is expected to lead the global market in 2017.
There has been an increasing adoption of retail POS terminals owing to increase need to improve customer experience, and simplify card payments. The global retail POS terminals market is driven by the increasing digital payments and government support to secure digital payments. Technological advancement in cloud-based POS terminals, android-based POS terminals, biometrics, and NFC technology is expected to augment market growth. However, data privacy concerns and risk of data theft restricts the retail POS terminals market growth.
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Retailers are integrating mobile POS terminals into business to simplify transactions, reduce waiting times, and increase number of interactions. Mobile POS also offers customer analysis and data regarding past transactions, inventory management, and employee management. It enables retailers to offer personalized services to customers through offers and loyalty schemes, coupons, and other services. Mobile POS terminals are also space efficient and take lesser space than fixed POS terminals. This space efficiency enables retailers to use the extra space for display or inventory.
LS Nav is a retail management system available in the market comprising POS and enterprise resource planning (ERP). The features offered by this system include e-commerce, inventory management, retail accounting, customer management, warehouse management, and mobile support. This system is developed for retail stores such as apparel, groceries, electronics, and convenience stores among others. This system enables users to track sales, productivity, and stock on a real time basis.
Clover POS Software is another solution available in the market for the retail sector. It is an integrated point-of-sale system with custom hardware developed for retailers. It can be deployed either as web-based or server-based. It also provides a mobile POS option along with countertop units. This system enables secure transactions, and provides access reports on a remote merchant dashboard. This system reads chip and PIN cards, credit cards, and can also process Apple Pay and other mobile payment apps. It can also integrate with QuickBooks to streamline the accounting process.
The well-known companies profiled in the report include Panasonic Corporation, Ingenico Group, NEC Corporation, Micros Systems Inc., Hewlett-Packard Inc., Cisco Systems Inc., Epicor Software Corporation, PAX Technology Ltd, and VeriFone Systems Inc. among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
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In 2017, the fixed POS terminals dominated the global market, in terms of revenue.
This system is developed for retail stores such as apparel, groceries, electronics, and convenience stores among others.
Clover POS Software is another solution available in the market for the retail sector.
It is an integrated point-of-sale system with custom hardware developed for retailers.
The Asia Pacific region is expected to register substantial growth in the retail POS terminals market owing to the rapidly emerging retail sector in countries such as India and China.
Additionally, affordable costs, mobility, ease of use, and increased efficiency.
The Mobile Point Of Sale Market Report, in its latest update, highlights the significant impacts and the recent strategical changes under the present socio-economic scenario.
The Mobile Point Of Sale industry growth avenues are deeply supported by exhaustive research by the top analysts of the industry.
The report starts with the executive summary, followed by a value chain and marketing channels study.
The report then estimates the CAGR and market revenue of the global and regional segments.Base Year: 2020Estimated Year: 2021Forecast Till: 2027The report classifies the market into different segments based on type and product.
These segments are studied in detail, incorporating the market estimates and forecasts at regional and country levels.
The segment analysis is helpful in understanding the growth areas and potential opportunities of the market.Get | Download FREE Sample Report of Global Mobile Point Of Sale Market @ https://www.decisiondatabases.com/contact/download-sample-6840A special section is dedicated to the analysis of the impact of the COVID-19 pandemic on the growth of the Mobile Point Of Sale market.
Market OverviewThe global smart card market is poised for substantial growth forecasts Market Research Future (MRFR) in a recently published research report.
The market for smart cards is growing on account of its surging usage in various applications such as mobile phones, payment transactions, online authentication devices, and portable medical records cards.
From student membership cards to driver's license, smart cards are being increasingly used for a broad spectrum of applications for verifying age, identity, and the associated access rights and benefits.The government sector is progressively leveraging smart cards to improve efficiency and transparency.
Governments in emerging democracies, as well as other developed nations, use smart cards for voter IDs and driver's license.
Increasing use of smart cards by the financial payments industry is a key factor contributing to the market growth.
Earlier plastic cards were used for transactions, but now smart cards have been made the global standard for credit and debit cards by Europay, Mastercard, Visa since they ensure security.One of the most important use cases of smart cards is in securing entry points to critical infrastructure facilities such as ports, hospitals, and airports.
New York July 3, 2019 - A new report published by Research on Global Markets titled "North America Connected Retail Solutions Market (2018-2023)" studies the performance of the connected retail solutions market in North America over a five year assessment period from 2018 to 2023.
The report presents the value forecast of North America connected retail solutions and provides key insights into the factors driving market growth as well as the factors restricting market growth.
According to the Research On Global Markets analysts, North America connected retail solutions market is predicted to expand at a CAGR of 17.84% during the forecasted period.Market segmentation based on applicationsThe report published by Research On Global Markets features comprehensive analysis of the different segments of the North America connected retail solutions market based on applications.
Owing to high Internet penetration rates, adoption of IoT and omnichannel strategies to integrate both online and offline customer experience, as well as technological advancements in the fields of IoT, AI, and Big Data will further drive the market.
The Supply Chain Management (SCM) segment is expected to witness significantly high CAGR (34.20%) during the forecast period.
In 2018, the United States was the largest market, with 95.35% share of the North America connected retail solutions market.
