The global Point of Sale (POS) system market is expected to witness a stupendous CAGR in the years to come. This could be credited to growing advancements on the technological front; which would lead to adopting POS system in loads of industrial sectors like BFSI, hospitality, healthcare, and retail. The market players are into incorporation of advanced technologies into barcode scanners, receipt printers, EMV pin pad, keyboards, and cash drawers. These systems let industries implement a one-stop solution in operating centers to simplify billing or payment process. This is another factor bolstering the market.
The Point of Sale (POS) system market is segmented by product, component, technology, operating system, application, and geography. By product, the segmentation goes like mobile and fixed. By component, the market spans software, hardware, and service. By technology, the market comprises conventional and biometric. By operating system, the market says Linux, Windows, and MAC. By application, the market consists of hospitality, restaurants, healthcare, retail, warehouse/distribution, entertainment, and others.
By geography, the market states North America (Canada, U.S.), Europe (Russia, Italy, France, Germany, and UK), Asia Pacific (South Korea, Japan, India, and China), LATAM (Brazil), and MEA (South Africa and GCC). North America rules the roost due to immediate adoption of advanced technology. Europe comes second. Asia Pacific is expected to grow at the fastest pace due to rapid urbanization in developing economies like India. LATAM is also catching up due to Brazil showing up on the count of POS.
The players contributing to the Point of Sale (POS) system market include Micros Systems, Inc.; Cisco Systems, Inc.; Castles Technology Co., Ltd.; BITEL Co.; BBPOS Ltd.; AURES Technologies SA; NCR Corporation; VeriFone Systems, Inc.; Ingenico Group; and NEC Corporation. Organic growth has been doing the rounds. For instance, HArbortouch, in May 2018, did announce launch of “Checkout (a retail POS system) that has robust features coupled with user-friendly interface.
Leading players of Point of Sale(POS) System including:
• Newland Payment
• Xin Guo Du
• New POS Tech
• Castles Tech
Market split by Type, can be divided into:
• Fixed POS System
• Wireless POS System
• Mobile POS System
Market split by Application, can be divided into:
• Other Industry
Market split by Sales Channel, can be divided into:
• Direct Channel
• Distribution Channel
Market segment by Region/Country including:
• North America (United States, Canada and Mexico)
• Europe (Germany, UK, France, Italy, Russia and Spain etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
• South America Brazil, Argentina, Colombia and Chile etc.)
• Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)
Research Support Specialist, USA