Exciting news is on the horizon for the Point of Sale (POS) market. Recently, Global Information Inc. released a report detailing the market outlook for the entire POS industry, broken down by specific market segment. While the news looks positive across the board, the numbers are especially encouraging in the handheld POS and NFC (near field communication) POS terminal sectors. The report on projected growth in the handheld POS market is available here.
This report is great news for the entire POS industry. Exciting developments in the handheld POS market in particular spell good news not only for technology firms creating POS devices but also for the industries that make use of them, such as retail and hospitality. As consumers become more accustomed to seeing the latest trends in handheld POS and the ways these devices streamline their shopping, dining, and entertainment experiences, the demand for these devices will continue to increase. Likewise, once consumers are exposed to the added security provided by pay-at-table technology, it is likely that they will come to prefer this method and its added peace of mind.
Businesses seeking to stay ahead of the technology curve will drive the dramatic increase in demand projected in this report. Global Information, Inc.’s report projects an increase in sales from shipments of handheld POS computer units from $1.1 billion in 2011 to $3.1 billion by 2018. The increasing prevalence of handheld POS terminals is apparent not only in these numbers but in first-hand experiences dining out and shopping. One does not have to look very far to see handheld POS devices or POS software on familiar devices like iPads appearing more frequently in restaurants and retailers.
Global Information, Inc.'s report also projects growth of up to 17% in the global NFC POS terminal market during the years 2011-2015. This projected growth reflects a growing need among businesses to minimize POS overhead. The growth is limited, however, by the high cost of NFC terminals. As consumers become more accustomed to the convenience offered by contactless POS terminals powered by NFC, perhaps the demand for this expedient payment option will continue to drive the increase in growth in this market sector.
As payment systems become more and more driven by credit and debit cards and less reliant on cash, POS technology will continue to be in-demand. The convenience, security, and ease-of-use made possible by POS technology and software will drive the growth projected in this report. Fuller information and data as well as the complete report is available from Global Information Inc.