Market Research Report
Retail POS Terminals Market Size By Product, By Component, By Application, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
|Published by||Global Market Insights Inc.||Product code||951741|
|Published||Content info||300 Pages
Delivery time: 2-3 business days
|Retail POS Terminals Market Size By Product, By Component, By Application, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026|
|Published: July 25, 2020||Content info: 300 Pages||
Retail POS Terminals Market Size By Product (Mobile, Fixed), By Component (Software, Hardware, Services [Professional, Support & Maintenance, Training]), By Application (Department Stores, Supermarkets/Hypermarkets, Warehouses, Convenience Stores, Discount Stores, Specialty Stores), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026.
The retail POS terminals market is expected to gain significant growth impetus in coming years owing to the increasing adoption of smartphones and rising demand for additional payment options. Point of Sale is defined as the area of a store where customers pay for the items they have purchased. Numerous retail locations usually have the POS at a designated checkout area or counter.
A point of sale terminal is an electronic device which is generally used for processing card payments at retail places. A retail store, in fact, might have one or various POS terminals which largely depends on their needs.
Increasing adoption of contactless payment technology like Google Pay and Apple Pay is likely to drive the retail POS terminals market. It is further estimated that this technology is likely to reach a higher revenue over the coming years as it makes sure that all operations, ranging from inventory management to customer experience management, are being conducted smoothly.
The retail POS terminals market is segmented in terms of product, component, application, and regional landscape.
Based on product, the retail POS terminals market is categorized into fixed, and mobile terminals. Features such as robust business functionality and inventory management are driving the fixed retail POS terminals market. In comparison to mobile POS terminals, several retail stores and brick-and-mortar establishments usually prefer fixed POS solutions as they offer a number of additional features.
The higher adoption rate of fixed terminals is primarily attributed to the fact that average retail employees are more familiar with fixed terminals than mobile systems, which saves considerably in training costs.
With respect to component, the retail POS terminals market is classified into service, hardware, and software. Retailers are increasingly utilizing POS software for improving their business performance, which is impelling the segment share significantly. Additionally, increasing demand for tracking sales, inventory, employee and customer management across retail chains is further slated to complement the segmental growth.
In terms of application, the overall retail POS terminals market is bifurcated into specialty stores, discount stores, convenience stores, warehouse, supermarkets/hypermarkets, department stores, and others. Demand for faster as well as more efficient order fulfillment, improving stock visibility, and connecting with sales channels will drive the warehouse segmental growth.
Retailers require a warehouse management system to decrease human error and effectively boost efficiency, which allows them to focus on more important aspects of the business like providing incredible customer experiences.
From a regional frame of reference, the South America retail POS terminals market growth graph is projected to register tremendous gains owing to widespread adoption of smartphones and increasing internet penetration in the region.