Companies and Markets
Call us on +44 (0) 203 086 8600
Market Research A to Z | Company Profiles A to Z | RegisterRegister | Contact UsContact Us | Shopping Basket Shopping Basket
+44 (0) 203 086 8600 Call us on

Global POS terminals market set to grow the fastest through Asia

Industry Sector

Retail

Published

18 December 2012

Author

Matt Bodimeade

Type of News

Market

The global point of sale (POS) terminals market has been forecast to hit 34.8 million units by 2018, driven by the increasing adoption of Europay, MasterCard and Visa (EMV) standards and burgeoning demand in the rapidly growing developing markets.

A POS terminal is an electronic device that is used for verifying and processing credit card transactions. Typically connected via highly reliable telephone wired connections, they require rapid dial up time, low power and reliable performance.

The POS terminals market received a major boost in 1990s, when the focus of the cash register industry shifted from electronic cash registers to PC based POS systems. Since then, the POS systems market has been characterised by continuously evolving technologies and industry standards.

The POS systems market witnessed a marked transition from proprietary customised single platform systems to open-architecture systems compatible with a variety of hardware and software. POS terminals find extensive application across various retail establishments, hospitality centers and shopping malls.

The alarming rise in fraudulent payments across the globe has renewed the industry's interest in establishing security standards, including ensuring end-to-end data encryption, and compliance with guidelines from all major card issuers.POS terminals

Reflecting the depressing economic crisis, the POS terminals market registered substantial erosion in volume sales during 2009 in almost all regional markets across the globe. With global credit market in doldrums, largely due to the recent financial turmoil and credit crunch, credit card transactions have been badly hit, thus creating deep ripples in the POS market.

Asia looks set to represent the fastest growing regional market, increasing at a CAGR of approximately 7% through 2018. A continued growth in card payment transactions in developing countries such as China and India is largely the result of steady economic growth, improving spending power, and the emergence of several modern retail infrastructure projects such as malls, super markets, and chain stores.

Despite the gloom, outlook for the future remains bright, with demand expected to grow substantially over the next few years, riding on the projected rise in the number of non-cash payment transactions, particularly contactless payments.

For more information on the POS terminals market, see the latest research: Global POS Terminals Market

Follow us on Twitter @CandMResearch

Visitor Comments

All posts are pre-moderated and must obey the house rules.

Change Currency

GBP
USD

Change Currency

GBP
USD

Use our research skills: Get free support

Free Research Support: Let us do the work for you and find information from public and private sources of information. Contact us now and we can save you time and money.......Free Research Support

eBrandPromote: Get your brands ranked highly online

eBrandPromote: Let us promote your brand online through article writing, press release distribution, social media and search engine marketing services. Click here to download our eBrandPromote brochure.

Black Friday Discounted Prices: Contact us to ask about our special discounts available today

It is Black Friday today and we are offering discounted prices on a selection of new reports. Please contact us on 00 44 (0) 203 0868600 or via email on enquiries@companiesandmarkets.com to ask about prices and special discounts.

Available today on Black Friday; Discounted prices on a selection of our reports.

Accessibility
Close

Contrast settings

Text size settings