SAN FRANCISCO, May 9, 2016 /PRNewswire/ --
The global POS terminals market is expected to reach USD 113.27 billion by 2024, according to a new report by Grand View Research, Inc. The introduction of chip-embedded payment cards and personal identification number (PIN) has minimized security concerns relating to sensitive data theft, which is projected to drive the POS industry over the forecast period.
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These terminals have a range of applications including inventory management, printing bills, payments, and carrying out loyalty programs, thus leading to their increasing adoption across various end-use verticals. They offer efficient flow control coupled with customer satisfaction, which is expected to favorably impact the consumption.
The ubiquitous wireless connectivity, including Bluetooth, combined with the availability of peripheral devices, card readers, scanners, mobile printers, and multiple platform support, is projected to drive demand over the forecast period.
The widespread affordability and availability of smartphones and tablets have witnessed a considerable increase over the past few years. It is estimated that across the globe, the number of smartphone and tablet users would reach over 6 billion and 1.40 billion respectively by 2020, thus driving demand for the POS products.
The industry is steadily migrating toward the digital format with electronic signature capture and e-mail receipts, enabling paper-free transactions and consequently, offering lucrative growth opportunities by 2024. However, the migration of the global payment industry toward more secure chip card technology can hamper the demand.
Browse full research report with TOC on "Point-of-Sale (POS) Terminals Market Analysis By Product (Fixed, Mobile), By Component (Hardware, Software), By Application (Restaurants, Hospitality, Healthcare, Retail, Warehouse, Entertainment) And Segment Forecasts To 2024" at: http://www.grandviewresearch.com/industry-analysis/point-of-sale-pos-terminals-market
Further key findings from the report suggest:
Grand View Research has segmented the POS terminals market on the basis of product, component, application, and region:
Browse related reports by Grand View Research:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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