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Point-of-sale Systems Market by Product, Geography, and End-user - Forecast and Analysis 2020-2024

  • Published: Aug 2020
  • Pages: 120
  • SKU: IRTNTR44213
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The point-of-sale systems market share is expected to increase by USD 10.05 billion from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 6%.

This point-of-sale systems market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers point-of-sale systems market segmentation by product (accessories and PoS terminals), geography (APAC, North America, Europe, South America, and MEA), and end-user (hospitality industry, supermarkets, hypermarkets, specialty stores, and others). The point-of-sale systems market report also offers information on several market vendors, including CASIO Computer Co. Ltd., Honeywell International Inc., HP Inc., Ingenico Group SA, Newland Payment Technology Co. Ltd., PAX Global Technology Ltd., Seiko Epson Corp., Sharp Corp., SZZT Electronics Shenzhen Co. Ltd. , and VeriFone Inc. among others.

What will the Point-of-sale Systems Market Size be During the Forecast Period?

Point-of-sale Systems Market Size

Download the Free Report Sample to Unlock the Point-of-sale Systems Market Size for the Forecast Period and Other Important Statistics

 

Point-of-sale Systems Market: Key Drivers, Trends, and Challenges

The evolution of the global retail landscape is notably driving the point-of-sale systems market growth, although factors such as increased adoption of mobile card readers may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the point-of-sale systems industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Point-of-sale Systems Market Driver

One of the key factors driving growth in the point-of-sale systems market is the evolution of the global retail landscape. Globally, the retail environment is undergoing a drastic change, with an increase in the number of outlets, especially in developing countries. Most leading branded retailers have started focusing on these regions as they strive to capture untapped and unorganized retail environments. Major retailers such as Walmart, Sephora, and Metro are expanding their presence in APAC.  The global retail landscape is evolving, with APAC being one of the fastest-growing regions. Most of the growth in the retail market in APAC is driven by strong economic growth and rapid urbanization in the region. The convergence of and innovations in e-commerce and m-commerce have encouraged retailers to change their distribution channel strategies in the region. The global drive toward convenience channels is already well established in Asia with the likes of Japan, Taiwan, and South Korea. The increasing number of retail outlets worldwide is likely to drive the demand for PoS accessories. This will lead to the growth of the global PoS systems market during the forecast period.

Key Point-of-sale Systems Market Trend

The advent of NFC-enabled smart rings is a point-of-sale systems market trend that is expected to have a positive impact in the coming years. The recent developments in NFC technology are being incorporated into wearable smart devices such as smart rings. These NFC-enabled smart rings are fully equipped and capable of carrying out contactless payments at any contactless POS terminals. The transaction limits stay the same for single transactions, and the applications of smart NFC-enabled cards and mobile devices are the same. NFC-enabled smart rings do not house a battery as the ring is equipped with a wireless electronic charging module, like that of NFC cards and mobile devices. This module receives electromagnetic energy from the connected device or the read-write device nearby and turns it into a small amount of energy, which is more than enough for the device to perform. These rings do not have a vibrator as they do not notify about payments. Thus, the NFC-enabled rings have sufficient storage space within the device and are much more compact.

Key Point-of-sale Systems Market Challenge

The increased adoption of mobile card readers will be a major challenge for the point-of-sale systems market during the forecast period. Mobile card readers are the simplest form of PoS terminals that are witnessing increased adoption by merchants who were initially reluctant to adopt this technology. Mobile card readers can be connected to devices such as smartphones and tablets, making them highly portable. Moreover, the acquisition, set up, and regulatory approvals for mobile card readers require less time. Mobile card readers have several advantages such as portability and faster transaction. They are either provided free or minimally charged, as their hardware cost is very low. The awareness of mobile card readers among merchants is increasing, and the market is expected to grow at a CAGR of more than 52% during 2018-2023. Devices such as mobile card readers pose a threat to conventional PoS terminals offered by vendors such as Ingenico Group, SZZT, and PAX Technology. Though these vendors have mobile card readers in their product portfolio, vendors such as Square and Payleven are establishing a strong brand image in the market and attracting customers. The impact of this challenge is expected to increase, thereby leading to intense competition and price pressures.

This point-of-sale systems market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

Technavio categorizes the global point-of-sale systems market as a part of the global technology hardware, storage, and peripherals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the point-of-sale systems market during the forecast period.

Who are the Major Point-of-sale Systems Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • CASIO Computer Co. Ltd.
  • Honeywell International Inc.
  • HP Inc.
  • Ingenico Group SA
  • Newland Payment Technology Co. Ltd.
  • PAX Global Technology Ltd.
  • Seiko Epson Corp.
  • Sharp Corp.
  • SZZT Electronics Shenzhen Co. Ltd. 
  • VeriFone Inc.

 

This statistical study of the point-of-sale systems market encompasses successful business strategies deployed by the key vendors. The point-of-sale systems market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Honeywell International Inc.  - The company offers a line of products such as in-counter bioptic scanners, handheld and hands-free scanners such as Stratos 2700 in-counter scanner and Voyager 1602g pocket scanners among others.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The point-of-sale systems market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Point-of-sale Systems Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the point-of-sale systems market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the technology hardware, storage, and peripherals market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • After-sales services
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Point-of-sale Systems Market?

Point-of-sale Systems Market Market segmentation by region

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66% of the market's growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for point-of-sale systems in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The rising purchasing power of consumers, a large potential consumer base, and growing sales of debit and credit cards in the region have led to the increased demand for PoS terminals and accessories. This will facilitate the point-of-sale systems market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The spread of the COVID-19 pandemic from China severely affected the rest of the countries of Asia, exacerbated by the dense population in the region. In most countries, offices were closed without any exemptions. Most countries imposed a ban or restrictions on public meetings and social gatherings. The pandemic is expected to affect most businesses heavily during the first half of the forecast period. However, with time and improvement of the situation, businesses are expected to be back on track during the second half of the forecast period and witness an accelerating growth momentum.

What are the Revenue-generating Product Segments in the Point-of-sale Systems Market?

Point-of-sale Systems Market Segmentation

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The point-of-sale systems market share growth by the accessories segment will be significant during the forecast period. The growth of the market can be attributed to the increase in the adoption of PoS accessories such as ECRs, barcode scanners, receipt printers, and PoS displays in the global retail and hospitality sectors. The retail and hospitality sectors in these countries are witnessing steady growth. The growth in economies, especially in developing countries, has resulted in a rise in the purchasing power of consumers. Consumers in the retail and hospitality sectors have a greater purchasing power and are better equipped and aware of the technological advances in industry verticals. The demand for advanced technologies, especially PoS accessories, is increasing in these sectors.

This report provides an accurate prediction of the contribution of all the segments to the growth of the point-of-sale systems market size and actionable market insights on post COVID-19 impact on each segment.

 

Point-of-sale Systems Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 6%

Market growth 2020-2024

$ 10.05 billion

Market structure

Fragmented

YoY growth (%)

4.77

Regional analysis

APAC, North America, Europe, South America, and MEA

Performing market contribution

APAC at 66%

Key consumer countries

China, US, India, Japan, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

CASIO Computer Co. Ltd., Honeywell International Inc., HP Inc., Ingenico Group SA, Newland Payment Technology Co. Ltd., PAX Global Technology Ltd., Seiko Epson Corp., Sharp Corp., SZZT Electronics Shenzhen Co. Ltd. , and VeriFone Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Point-of-sale Systems Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive point-of-sale systems market growth during the next five years
  • Precise estimation of the point-of-sale systems market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the point-of-sale systems industry across APAC, North America, Europe, South America, and MEA
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of point-of-sale systems market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2019
    • Market outlook: Forecast for 2019 - 2024

    Five Forces Analysis

    • Five force summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • Accessories - Market size and forecast 2019-2024
    • PoS terminals - Market size and forecast 2019-2024
    • Market opportunity by Product

    Market Segmentation by End-user

    • Market segments
    • Comparison by End-user
    • Hospitality - Market size and forecast 2019-2024
    • Supermarket - Market size and forecast 2019-2024
    • Hypermarkets - Market size and forecast 2019-2024
    • Specialty stores - Market size and forecast 2019-2024
    • Others - Market size and forecast 2019-2024
    • Market opportunity by End-user

    Customer Landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • APAC - Market size and forecast 2019-2024
      • North America - Market size and forecast 2019-2024
      • Europe - Market size and forecast 2019-2024
      • South America - Market size and forecast 2019-2024
      • MEA - Market size and forecast 2019-2024
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Vendor landscape
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • CASIO Computer Co. Ltd.
      • Honeywell International Inc.
      • HP Inc.
      • Ingenico Group SA
      • Newland Payment Technology Co. Ltd.
      • PAX Global Technology Ltd.
      • Seiko Epson Corp.
      • Sharp Corp.
      • SZZT Electronics Shenzhen Co. Ltd. 
      • VeriFone Inc.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      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.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
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      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
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      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
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      Point-of-sale (PoS) Systems market growth will increase by $10.05 billion during 2019-2024.
      The point-of-sale (pos) systems market is expected to grow at a CAGR of 6.27% during 2019-2024.
      Technavio has segmented the point-of-sale (pos) systems market by product (Accessories and PoS terminals) ,end user (Hospitality, Supermarket, Hypermarkets, Specialty stores, and Others) , and geographic (APAC, North America, Europe, South America, and MEA).
      CASIO Computer Co. Ltd., Honeywell International Inc., HP Inc., Ingenico Group SA, Newland Payment Technology Co. Ltd., PAX Global Technology Ltd., Seiko Epson Corp., Sharp Corp., SZZT Electronics Shenzhen Co. Ltd. , VeriFone Inc. are a few of the key vendors in the point-of-sale (pos) systems market.
      APAC will register the highest growth rate of 65.87% among the other regions. Therefore, the point-of-sale (pos) systems market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the point-of-sale (pos) systems market growth are:
      • Evolution of the global retail landscape
      The point-of-sale (pos) systems market vendors should focus on grabbing business opportunities from the accessories segment as it accounted for the largest market share in the base year.
      • What are the key global market and the regional market share?
      • What are the revenue-generating key market segments?
      • What are the key factors driving and challenging this market’s growth?
      • Who are the key market vendors and their growth strategies?
      • What are the latest trends influencing the growth of this market?
      • What are the variables influencing the market growth in the primary regions?
      • What are the factors influencing the growth of the parent market?
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      • Data on revenue-generating market segments
      • Details on the market shares of various regions
      • Five-force market analysis

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