This market analysis segments the global POS terminals market in the retail sector by application (mass merchandise, drug stores, gas stations, hypermarkets, specialty stores, and supermarkets) and by geography (APAC, EMEA, and the Americas). Key vendors analysed in this market study are Ingenico Group, PAX Global Technology, Toshiba, and Verifone.
Technavio’s market research analysts estimate the global POS terminals market in the retail sector to grow at a CAGR of around 13% between 2015 and 2019. Rise in payment services and use of debit cards or credit cards for transactions is primarily driving this market.The APAC region accounts for the largest market share, closely followed by the Americas and the EMEA region. The ease of use and high return on investment (ROI) offered by terminals in the APAC are significant factors that promote growth during the forecast period.
The new market research report from Technavio provides a breakdown and analysis of the POS terminals segments by applications.
“Use of POs terminals is enhancing overall business experience of retailers by managing the large amount of data. The increasing volume of data require highly compatible POS terminals, which store information on demographics, payment preferences, and buying behaviour of the customers. This enables retailers to evaluate market analytics including pre-marketing and post-sales marketing,” says Navin Rajendra, Lead Analyst, Semiconductor & Electronics, Technavio Research.
Supermarkets dominate the POS terminals market in the retail sector, accounting for around 39% of the total market share. The recent increase in supermarket chains, especially in the tier-2 and tier-3 cities, is expected to result in this segment’s high market share. Supermarkets are increasingly using POS terminals to improve the shopping experience and speed up the payment process.
The key vendors in the global POS terminals market in the retail sector include Ingenico Group, PAX Global Technology, Toshiba, and Verifone. This market is highly consolidated due to the augmented M&A of SMEs with large companies. Verifone and Ingenico Group are the major vendors in this market and together comprised of more than 50% of the global POS terminals market in the retail sector in 2014.
A more detailed analysis is available in the Technavio report, Global POS Terminals Market in the Retail Sector 2015-2019.
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