- The key vendors in the POS terminals market in the US 2015-2019 are First Data, Ingenico and VeriFone.
London, 14 October 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the POS terminals market in the US 2015-2019. Growing need for improved security standards is one of the key trends being witnessed in this market. Vendors are incorporating several security technologies including signature capturing devices and biometric sensors into POS terminals to ensure secure payment transactions. POS terminals are being incorporated with additional features like touchscreens, RFID, and barcode scanners to enhance user experience. The POS terminals market in the US is expected to grow at a CAGR of 9.1% during the forecast period of 2014-2019.
The increase in urbanization in the US, which increases the amount of footfall in the retail sector, is one of the factors contributing to the growing demand for POS terminals. The proliferation of non-cash payment methods such as credit/debit cards and mobile wallet will fuel market growth during the forecast period.
The growing demand for contactless payment using mobile phones is likely to increase the demand for POS terminals. Vendors in the US market are making efforts to deploy the necessary technology for the acceptance of mobile payments using NFC technology. This will increase the adoption of POS terminals by retailers, restaurant chains, and hotels in the US.
“Wireless communication devices in the field of electronic payment are developed to facilitate mobility at the POS or to provide customers with a wireless device to enable faster transactions and easy checkout,” says Faisal Ghaus, Vice President of Technavio Research.
“The use of devices could be extended to similar applications including outdoor arenas, pizza delivery, home delivery option provided by retailers, and pay-at-the-table using cards.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the POS Terminals Market in the US 2015-2019, please send an e-mail to media@TechNavio.com
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