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POS Terminals Market is Projected to Witness High Growth from Europe Region Over 2018 – 2024

Author : Ronak Bora | Published Date : 2019-05-06 

The Europe POS terminals market is witnessing a high growth due to the adoption of several government regulations that are developed to support the advanced technologies for enhancing the security of the transactions & customer details. For instance, security guidelines are being developed for the adoption of EMV-enabled transaction processing in the industries. The companies installing such technologies need to follow guidelines that are developed by the regulatory bodies. Moreover, the strong presence of major players, which are engaged in offering innovative solutions to the customers is a major factor accelerating the POS terminals market growth.

Companies operating in the POS terminals market are engaged in developing innovative software solutions that can be incorporated into these systems to support several business tasks such as order management, sales tracking, managing staff accounts, and accounting & bookkeeping, among others. The software installed in these systems helps to control and operate hardware devices and other peripherals. Several major players are offering such advanced solutions to their customers for improving their business operations and enhancing their sales & productivity.

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Growth drivers of POS terminals market: -

  1. Penetration of EMV cards in the U.S.
  2. Surge in NFC/contactless payment in the UK
  3. Stringent government regulations in Europe
  4. Demonetization effect in India
  5. Rising inclination towards online payments in China
  6. Proliferation of RFID tagging in Japan
  7. Infrastructure development in South America
  8. Rising mobile POS terminal demand in Brazil
  9. Flourishing retail industry vertical in the UAE

For instance, in April 2018, ParTech, Inc. announced the launch of PAR Pay, which is an EMV-enabled payment solution. The solution is integrated as an extension of the PAR POS software. This solution will provide customers with fast and a more flexible payment platform, which will improve the reliability and support to business operations. Moreover, players in the market are developing software solutions specific to industry requirements and their business process.

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The restaurant POS terminals market is projected to witness a high adoption of these systems and is anticipated to expand at a CAGR of around 16% over the forecast timespan. Several restaurant owners in the U.S. have started using systems such as tablets and digital kiosks to display menu, place orders, and for receiving payments, helping them to increase the operational efficiency and enhance the customer experience. Moreover, companies including Square, Inc. and Sr. Pago have developed systems that convert smartphone or tablet to a mPOS terminal and accept card payments. The adoption of such terminals is increasingly being witnessed across several restaurants as they are cheaper and more user-friendly, thereby driving the POS terminals market demand.

The POS terminals market is predicted to experience a high demand for the Mac OS over the coming years due to the increased data security and ease in use. The OS provides users a secure platform, which will protect the sales and customer data from virus attacks and data breaches. Moreover, several users are preferring Mac OS over Linux OS owing to its high compatibility with the hardware devices in the system.

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POS terminals industry is an evolving business sector with big players investing heavily in R&D activities to develop new technologies and products for gaining competitive edge. It is more likely that rapid expansion of POS terminals market will encourage new service providers and manufacturers to enter the business further encouraging the existence of fierce competition in the industry.  VeriFone Systems Inc., Panasonic Corporation, Ingenico Group, PAX Technology Inc., and Toshiba Corporation are some of the major brands of POS terminals market.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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