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This market research report identifies suppliers like LiPol Battery, Overlander, Panasonic, and Shenzhen Glida Electronics to be the key vendors in the global battery market for POS terminals. It also presents a detailed segmentation of the global market by battery type (Li-ion batteries and NiMH), by end-user (hospitality and retail), and by geography (the Americas, APAC, and EMEA).
Technavio’s market research analysts predict the global battery market for point of sale (POS) terminals to grow steadily at a CAGR of above 9% by 2021. One of the primary drivers for this market is the growing regulatory intervention on secure payments. Various instances of financial fraud have forced countries to set stringent regulations with respect to security standards. Regulatory bodies have imposed a rule for the recertification of electronic payment systems employed by merchants and retailers. In the US, the EMV liability shift policy mandates that the issuers and merchants should adopt EMV technology standards, failing which they will be liable to fraud charges in the case of any fraudulent transaction. In order to protect themselves, the merchants need to obtain verification certifications for their electronic systems employed. These certifications should be obtained from financial institutions, card associations, and payment processors. This regulation has compelled the majority of retailers to upgrade their existing POS systems to new ones that will help them to comply with the terms. As a result, these mandates have induced growth in the global battery market for POS terminals.
According to our battery market for point of sale terminals insight, APAC accounted for the maximum market share during 2016 and will continue to dominate the point of sale terminals battery market for the next few years. The increased preference toward non-cash payment methods is the key contributor for the dominance of the battery market for POS terminals in the region. This trend has compelled the merchants in the region to attach high significance to information management and provide a safe and secure shopping experience to their customers. The increasing purchasing power of end-consumers, huge potential consumer base, and the rise in sales of debit/credit cards in the developing countries will propel the growth of the point of sale terminals battery market in the region during the forecast period.
The global battery market for POS terminals is experiencing competition in potential markets such as the US, India, China, and Brazil. The US is currently experiencing high growth due to major transition from non-EMV POS terminals to EMV POS terminal. For a long-term growth, vendors are focusing on growing economies such as India, China, and Brazil. Due to intense competition and increasing demand from the end-user for low-cost payment solutions, the competition among pos machine manufacturers is expected to intensify in the next few years.
Leading vendors in the market are –
Other prominent vendors in the battery market for POS terminals include Ayaa Technology, Hangzhou Future Power Technology, HCT Electric, Sanyi Doctor Technology, Shenzhen Cowon Technology, Shenzhen CPKD Technology, Shenzhen Enbar Technology, and Ubetter Technology.
During 2016, the Li-ion batteries dominated the point of sale terminals battery market and accounted for a major part of the overall market share. This dominance in the global market can be contributed to the rising demand for POS terminals across industries, especially small retailers and shopkeepers. Li-ion batteries are rechargeable and have a good electrochemical performance with low resistance. The key advantage of using Li-ion batteries is that they increase thermal stability, have higher current density and a longer shelf life than other batteries available in the market. Also, the use of Li-ion batteries can reduce the safety and thermal stability concerns of both the manufacturers and the consumers.
In this market study, analysts have estimated the retail segment to dominate the point of sale terminals battery market during the forecast period. Factors such as foreign investment, increasing competition, and growing global economies have contributed significantly to the adoption of POS terminals in the retail segment. The retail sector includes hypermarkets, supermarkets, drug stores, gas stations, specialty stores, and mass merchandise stores. With customers demanding faster and easier checkout systems the segment will greatly aid in the growth of the battery market for POS terminals in the next few years.
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
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