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Market research analysts at Technavio have predicted that the POS terminal market in Europe will grow steadily during the next four years and post a CAGR of more than 6% by 2020. This market research analysis identifies the rise in number of e-commerce transactions as one of the primary growth factors for this market. The increasing adoption of mobile devices such as smartphones and tablet computers is driving the growth of the e-commerce market. The need to remain competitive, penetrate unfamiliar markets, and meet the increasing demands from customers has induced several companies to completely replace their physical stores with digital sales channels, resulting in a rise in number of e-commerce websites and transactions. The will increase the need for adopting user-friendly payment mechanisms such as cash-on-delivery payment modes, which in turn, creates the need for mobile POS terminals.
One of the major trends that will gain traction in this market is the increased adoption of cloud-based solutions. The need for value-added services such as big data analytics, inventory management, and sales management tools have resulted in an increased demand for economical data storage solutions. This will drive the demand for cloud-based point of sale terminals that can connect to all the associated hardware and allow merchants to access information from remote locations. Though vendors have to bear the transformation costs for upgrading software with the existing in-house IT infrastructure before shifting to cloud-based solutions, the use of platforms such as software as a service (SaaS) as an alternative to physical storage, will reduce operational costs which will greatly benefit small- and medium-sized enterprises.
The POS terminal market in Europe is mature and is characterized by the presence of both the regional and global vendors. Well-established players are currently adopting new technologies to gain a competitive edge over their competitors. The market is expected to witness a number of mergers and acquisitions of the small-and medium-sized companies by the large players, which will result in market consolidation. Though high entry barriers prevent the entry of new players, the competitive environment in the market is quite intense and vendors have the need to focus on providing superior customer service to retain their market shares.
The leading vendors in the market are -
The other prominent vendors in the market are ATOS Worldline, CyberNet, Equinox Payments, First Data, Keycorp, NCR, and Spire Payments.
During 2015, the EMV POS terminals market segment accounted for the major market shares and dominated the market. The growing consumer preference for non-cash payment methods, the demand for secure transactions, and the rise in penetration of NFC-based payments, will propel the market’s growth prospects.
In terms of end-user segments, the retail sector will be the major revenue contributor to the market throughout the forecast period. The increasing customer demand for faster and easier checkout systems, which will force vendors to adopt the latest POS terminals such as contactless terminals and the steady growth of organized retailing, will fuel the growth of the market.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Mobile card readers: A major hindrance
PART 07: Market segmentation by EMV compliance
PART 08: Market segmentation by product
PART 09: Market segmentation by end-user
PART 10: Key leading countries
PART 11: Market drivers
PART 12: Impact of drivers
PART 13: Market challenges
PART 14: Impact of drivers and challenges
PART 15: Market trends
PART 16: Vendor landscape
PART 17: Appendix
PART 18: Explore Technavio
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