Europe POS Terminals Market growth is attributed to the increasing demand for secure connectivity and privacy in sensitive data transmission. The growing work-from-home trend in the region due to the COVID-19 outbreak is supporting the market growth. The region also witnessed an extensive number of cyberattacks and data breach incidents, which are other prominent factors enabling the enterprise-wide adoption of VPN solutions in the region.
The ongoing coronavirus (COVID-19) pandemic will propel the POS terminals industry growth as people prefer contactless payment techniques to prevent the spread of the virus through banknotes. Government organizations are also encouraging the use of digital payments during the ongoing crisis. As per the industry trade body, UK Finance, the spending limit for non-contact card payments was increased in April 2020 to enable seamless electronic contactless payments. Hospitals and healthcare organizations are also using POS terminals for non-contact payment acceptance to ensure patient and staff safety.
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Traditional POS systems provide enhanced control over the data stored and processed inside them, in turn, propelling their demand. These devices enable businesses to store data in a local server and run applications on a closed internal network. Although cloud-based systems offer improved scalability & flexibility, they are often at risk of cyber-attacks. Establishing a traditional POS system enables owners to gain complete ownership of the infrastructure, ensuring data privacy. Large warehouse owners, hotels, and restaurant chains prefer adopting traditional POS systems to ensure customer data security.
Combining a powerful operating system with modern aesthetics, the MAC has become a popular POS device for retailers globally. Along with enhanced data security, the OS also ensures protection against unexpected breakdowns. It also facilitates faster transaction speeds and offers powerful insight into the buying trends of the customers. The MAC is a very stable and reliable operating system with relatively few bugs or system failures. The demand for robust operating systems that ensure enhanced POS system functioning will boost the MAC-based POS terminals market growth.
Major players operating in the Europe POS Terminals Market include Ingenico Group, Verifone Systems, Inc., Toshiba Corporation, NCR Corporation, Samsung Electronics Co., Ltd., PAX Technology, Inc., Micros Retail Systems, Inc., Hewlett Packard Enterprise, and Diebold Nixdorf Incorporated. Launching innovative products with advanced functionalities form a key market strategy amongst players in the industry.
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Table of Contents (ToC) of the report:
Chapter 1 Methodology and Scope
1.1 Research methodology
1.2 List of data sources
Chapter 2 Market Snapshot
2.1 Europe POS terminals market snapshot
Chapter 3 Europe POS Terminals Market Trends
3.1 Industry coverage
3.2 Industry size, 2016 – 2026
3.3 Impact of COVID-19 pandemic
3.4 Value chain analysis
3.4.1 Company product snapshot
3.5 Innovation landscape
3.6 Regulatory norms & directives
3.7 Drivers & restraints
3.7.1 Market drivers
3.7.2 Market restraints
3.8 Industry analysis – Porter’s
3.9 Competitive benchmarking, 2019
3.9.1 Strategy dashboard
3.10 PEST analysis
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