The global Point-Of-Sale Terminals Market size is expected to reach USD 125.9 billion by 2027, registering a CAGR of 7.5% over the forecast period, according to a new report by Grand View Research, Inc. Rising demand for Customer Relationship Management (CRM), reporting, payment processing features along with understanding customer purchase patterns is anticipated to drive the growth. Furthermore, the decline in the trend of carrying cash for shopping coupled with growing digitalization in the payment industry is anticipated to boost the adoption of point-of-sale (POS) terminals.
Large businesses are using POS systems to gain consumer insights, which are then applied to develop discount schemes and personalized marketing. This helps attract more customers and boost sales. Small and medium businesses have also realized the benefit of deploying these systems on their premises. Industries such as retail, hospitality, and restaurants are the highest adopters of POS systems for everyday transactions at their facilities.
The market for fixed POS terminal has been affected by the introduction of mobile POS systems. The mobile segment is anticipated to expand at the fastest CAGR over the forecast period and is projected to reach over USD 68.3 billion by 2027. The demand for mobile POS terminal is rising rapidly in developed countries owing to its user-friendly, cost-effective, and convenience features. Moreover, they allow omnichannel assistance for scenarios, such as Buy Online, Pick-up in Store (BOPIS), online purchase, and home deliveries from the store, which is expected to boost market growth over the forecast period.
Browse Details of Report @
https://www.grandviewresearch.com/industry-analysis/point-of-sale-pos-terminals-market
Further key findings from the report suggest: