The retail sector is the most flourishing industry in the POS terminals market, which is experiencing a high adoption rate of devices. Several retail companies such as Walmart, Costco, Kroger, and Tesco are engaged in incorporating smart solutions in their outlets to attract customers and improve their shopping experiences. Moreover, the retail companies are modifying their traditional technologies and transforming their stores through automation, which is expected to propel the POS terminals industry growth. The incorporation of the POS systems in several advanced machines such as self-checkout systems and smart-vending machines is the major factor driving the automated retail store concept.
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Biometrics is an advanced technology in the POS terminals market, which is projected to witness high adoption over the coming years. A rise in cybercrimes and concern for data theft will encourage industries to adopt biometric terminals for business operations. The U.S. reported that data breaches and cybercrimes in the country are growing rapidly year-by-year. Such factors are encouraging U.S. POS terminals industry developers to integrate such modern technologies in their offerings to improve the safety of organizational data. Fingerprint scanning devices are the most widely accepted technology in the POS terminals industry owing to ease in the authentication of customer details.
Windows-based devices are witnessing a high adoption in the POS terminals market due to the high compatibility and efficiency of this software platform for operating & managing hardware devices. Moreover, increased user-friendly features are allowing industries to install several applications & devices in their systems, which is a major factor for the high adoption rate of such operating systems. It allows companies to customize their systems based on business operations. Most manufacturers in the POS terminals industry are offering Windows devices to provide user-friendly solutions to industries.
Ezetap’s recent acquisition of FortunePay is a vital indicator of the growth in (Point of Sale) POS Terminals market. Similar to the growth strategies adopted by most markets, mergers & acquisitions and novel product launches primarily form the strategy landscape of POS terminals industry as well. In June 2017, Bangalore based POS firm Ezetap had acquired FortunePay, an online payment & physical payment service provider to banks in India. This deal is anticipated to help Ezetap avail the latter’s infrastructure and become a sole payment service provider for the traders in India.
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POS terminals industry is an evolving business sector with big players investing heavily in R&D activities to develop new technologies and products for gaining competitive edge. It is more likely that rapid expansion of POS terminals market will encourage new service providers and manufacturers to enter the business further encouraging the existence of fierce competition in the industry. VeriFone Systems Inc., Panasonic Corporation, Ingenico Group, PAX Technology Inc., and Toshiba Corporation are some of the major brands of POS terminals industry.
Some Points From Table Of Content: –
Chapter 4. POS Terminals Market, By Product (Revenue & Volume)
4.1. Key trends by product
4.2. Fixed POS terminals
4.2.1. Market estimates and forecast, 2013 – 2024
4.3. Mobile POS terminals
4.3.1. Market estimates and forecast, 2013 – 2024
Chapter 5. POS Terminals Market, By Component
5.1. Key trends by component
5.2.1. Market estimates and forecast, 2013 – 2024
5.3.1. Market estimates and forecast, 2013 – 2024
5.4.1. Market estimates and forecast, 2013 – 2024
Chapter 6. POS Terminals Market, By Technology (Revenue & Volume)
6.1. Key trends by technology
6.2.1. Market estimates and forecast, 2013 – 2024
6.3.1. Market estimates and forecast, 2013 – 2024
Chapter 7. POS Terminals Market, By Operating System (Revenue & Volume)
7.1. Key trends by operating system (OS)
7.2.1. Market estimates and forecast, 2013 – 2024
7.3.1. Market estimates and forecast, 2013 – 2024
7.4.1. Market estimates and forecast, 2013 – 2024
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