Skip to main content

A Complete Study On Global Wireless POS Terminal Market - 2018 TO 2023

Introduction 

The global wireless POS terminal market is projected to grow at a decent CAGR over the forecast period(2018-2023). The major factors driving the demand for wireless POS terminal are increasing the number of cashless transactions, organizational efficiency and budding e-commerce industry in the developing economies.
                                        global wireless POS terminal market
 
Various governments at the national and regional level are promoting cashless transactions as it improves transparency and targets parallel economy. Merchants are opting for these devices as they are convenient for the consumer and it helps the merchant improve the rate of consumer retention. However, the security concerns related to these terminals will hinder the market growth over the forecast period.
                         

Increase in Cashless Transaction

There has been an increase in the total number of cashless transactions over the past few years worldwide. Cashless transactions are quick and convenient as compared to the transactions involving cash. There is no need to carry cash, which eliminates the risk of losing money due to a number of reasons. Furthermore, cashless transactions reduce the overall transaction cost by eliminating shoe-leather cost, cost of production of currency, and cash handling charges among many others. Convenience and cost-effectiveness are the major factors contributing to the additions in the overall word cashless transactions. The major technologies used for cashless transactions are the use of credit/debit cards and the use of mobile wallets. There is a budding use of mobile wallets in developing countries, but, the use of credit/debit cards still remains dominant in these regions. Credit and debit cards are used for a number of applications including paying bills at the restaurant, utility bills payment, shopping, and medicals bills among many others. 

By Geography

By region, the wireless POS market is segmented as North America, South America, Europe, Middle East and Africa, and Asia Pacific. Furthermore, country-level analysis is also provided within the regions. The Middle East and Africa is anticipated to grow at the highest CAGR of 11.13% while Asia Pacific is projected to dominate the market share throughout the forecast period. South America and Europe will witness increasing of adoption of wireless POS terminals on account of the improved economic performance, whereas, North America witnessed an early adoption of the technology and thus, represents limited growth opportunities. 
North America

The North America wireless POS market is projected to grow at a CAGR of 2.13% during the forecast period to reach a total market size of US$188.365 million in 2023 from US$165.998 million in 2017. North America witnessed an early adoption of the technology and such, the scope of the growth is majorly is coming from the developing countries of the region. In fact, Mexico is anticipated to grow at the highest CAGR of 7.40% in the region with anticipated improvement in the proportion of the banked population in the country. In the United States, the recent cut in the corporate tax is expected to fuel the foreign investment that is likely to benefit the wireless POS market moderately through the growth in different industry verticals.  
Request free sample or download report
global wireless POS terminal market size
For Information Communication Technology Industry Coverage

Labels:
Location: Suite 406, BSI Business Park, H-140, Sector 63 Noida U.P. - 201301 India

Comments

Post a Comment

Popular posts from this blog

Adoption Chillers Market Is Expected To Witness Rapid Growth

Introduction Absorption chillers are cooling units that deploy a heat source to generate enough energy required for the cooling process and are primarily used in food storage. They use heat to operate instead of mechanical power. Absorption chillers are very energy-efficient as they consume a very small amount of fuel as compared to other refrigeration devices and generally, they use waste heat from the turbine or water heater to generate energy. Low boiling point refrigerants such as ammonia and lithium bromide are employed in these units. Evaporation, absorption, and regeneration are the three phases of chilling in this unit. They have a lower cooling performance. However, due to their low operational cost, they are widely employed in the domestic, commercial, and industrial sectors. Educational institutes, hospitals, and minivans are some of the users of absorption chillers. Drivers of Adoption Chillers Market The demand for absorption chillers market size is expe...
Post a Comment
Read more

A Complete Study On Precision Viticulture Market

Introduction Precision viticulture is precision farming used for optimum productivity of grapes and increasing vineyard performance. The growing cost of inputs is pressurizing growers to use advanced technologies and solutions so as to minimize the overall expenditure. This is a scientific technique used by large wineries to manage large vineyard areas. Precision viticulture uses advanced and emerging technologies such as Global Positioning Systems, Remote Sensor Systems, and Geographical Information System.  It improves the performance of vineyard and help in maximizing production of grapes with good quality. It helps the growers to maintain variability within their vineyard. It is an environment-friendly technique which reduces impacts on the environment. Drivers of Precision viticulture market Growing preference for new technology from growers to maximize efficiency and productivity of vineyard is driving the market of precision viticulture. Rising demand for grap...
Post a Comment
Read more

A Complete Study On Electroplating Market

Introduction Electroplating is the process that involves surface engineering for the deposition of metals on another metal surface. In this process, less expensive metals are used to manufacture several products and then metal plating of other metals is used to protect the product from corrosion and to give it a better look. It has several applications in many industries such as electrical & electronics, automotive, machinery parts and components, and aerospace and defense as it helps in cost-cutting and improving the service of the. Earlier, manufacturers have to spend a fortune on expensive metals such as gold, silver, and platinum to provide efficient and aesthetics wise products. However, with the growth of electroplating, manufacturers use less expensive metals and later on electroplate them to provide protection from corrosion, and to enhance its look. Growing awareness regarding sustainable development and waste management is also increasing its demand. Rapid industrial...
Post a Comment
Read more