Point of Sale (POS) System market will grow 19% CAGR by 2023
The point of sale (POS) or point of purchase (POP) is the time and place where a retail transaction is completed. At the point of sale, the merchant would calculate the amount owed by the customer and indicate the amount, and may prepare an invoice for the customer (which may be a cash register printout), and indicate the options for the customer to make payment.
It is also the point at which a customer makes a payment to the merchant in exchange for goods or after provision of a service. After receiving payment, the merchant may issue a receipt for the transaction, which is usually printed, but is increasingly being dispensed with or sent electronically.
The POS System industry is relatively concentrated, the top 12 manufactures accounting 84.47% global market share in 2017. The global market scale of POS System is about 62 million units in 2017.
It is expected to reach 179 million units by 2023, with the CAGR of 19%.
In the world wide, major manufactures mainly are Ingenico, Verifone, PAX, Newland Payment, LIANDI, Xin Guo Du, New POS Technology, Bitel, CyberNet, Castles Technology, SZZT and.
Asia-Pacific is the largest consumer of POS System and is expected to retain the higher growth rate during the next five years due to strong growth in electronic payment industry. China has witnessed a major chunk of the production and consumption of POS System in the Asia Pacific region.
In 2017. China produced about 28.5 million POS Systems, accounting 45.8% of global market share.In recent years, the demand for electronic payment has been growing and the demand of faster speed of payment has been growing as well. This trend has made the demand of Mobile POS Systems become larger and this trend can be anticipated to fuel the market growth during the forecast period.This industry is affected by the economy and policy, so it’s important to put an eye to economic indexes and leaders prefer. With the global economic recovery, more and more people pay attention to rising environment standards, especially in underdevelopment regions that have a large population and fast economic growth, the need of POS System starch will increase.We tend to believe this industry now is close to mature, and the demand increasing degree will show a smooth curve. On product prices, the slow downward trend in recent years will maintain in the future, as competition intensifies, prices gap between different brands will go narrowing.
Similarly, there will be fluctuation in gross margin.
Report:https://www.reportocean.com/industry-verticals/sample-request.php?report_id=1435According to this study, over the next five years the Point of Sale(POS) System market will register a 15.7% CAGR in terms of revenue, the global market size will reach USD 15300 million by 2024, from USD 6410 million in 2019. In particular, this report presents the global revenue market share of key companies in Point of Sale(POS) System business.This report presents a comprehensive overview, market shares and growth opportunities of Point of Sale(POS) System market by product type, application, key companies and key regions.This study considers the Point of Sale(POS) System value generated from the sales of the following segments-Segmentation by product type- breakdown data from 2014 to 2019; and forecast to 2024 Fixed POS SystemWireless POS System
Segmentation by application- breakdown data from 2014 to 2019;and forecast to 2024RetailRestaurantHospitalityOther IndustryThis report also splits the market by regionAmericas (United States, Canada, Mexico, Brazil)APAC (China, Japan, Korea, Southeast Asia, India, Australia)Europe (Germany, France, UK, Italy, Russia, Spain)Middle East & Africa (Egypt, South Africa, Israel, Turkey)GCC CountriesThe report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market.
Key manufacturers covered in this report-IngenicoVerifoneNewland PaymentPAXLIANDIXin Guo DuCentermBitelNew POS TechCastles TechSZZTCyberNetIn addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.Research objectivesTo study and analyze the global Point of Sale(POS) System market size by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.To understand the structure of Point of Sale(POS) System market by identifying its various subsegments.Focuses on the key global Point of Sale(POS) System players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.To analyze the Point of Sale(POS) System with respect to individual growth trends, future prospects, and their contribution to the total market.To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).To project the size of Point of Sale(POS) System submarkets, with respect to key regions (along with their respective key countries).To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.To strategically profile the key players and comprehensively analyze their growth strategies.
Complete Report Details at https://www.reportocean.com/industry-verticals/sample-request.php?report_id=1435
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