The rising demand for acoustic surface wave tech to attract more consumers owing to its clarity and the high-definition display will provide lucrative opportunities for the POS display market in the forecast period.
Newark, July 21, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global POS display market is expected to grow from USD 9.54 billion in 2021 to USD 19.71 billion by 2030, at a CAGR of 8.4% during the forecast period 2022-2030.
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The demand for POS display has grown fast in recent years, and it is expected to grow much more throughout the forecast period as it is being used heavily as a marketing strategy by retailers to attract customers. This expansion can be attributed to the rising demand & adoption of POS displays by retailers/sellers to attract consumers & increase sales. POS display is the display of a product at a strategically placed location beside the checkout counters that attracts buyers with its aesthetic, informative & appealing nature resulting in impulsive buying by consumers. POS displays increase the visibility of products away from competitors and increase the probability of attracting a consumer followed by a successful purchase. New technologies with better display, resolution, clarity, simplicity, & durable nature of POS screens will provide lucrative opportunities for the market as better features lead to increased adoption & application across sectors. However, the high costs of implementing POS displays coupled with increased competition amongst market players for limited POS display space could hamper the market's growth. Furthermore, the growing trend of online shopping & booming e-commerce will reduce the space for POS displays in retail chains.
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To enhance their market position in the global POS display market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• Samsung & Panasonic are developing products with better display quality, higher resolution, improved clarity & durability. The new products have a captivating appeal, and their smart features allow customization according to client requirements. Simple procedures and faster response time will reduce costs and save time during transactions, which will increase the adoption of digital POS displays in retail, restaurants, FMCG & entertainment. The increased application will contribute to the growth of the global POS display market.
The growing digitization of the economy and increasing application of POS display platforms across sectors will drive the growth of the POS display market. The growing awareness about the effectiveness of POS displays, the growing number of retail chains, and the rising adoption of near-field communication ready systems are also expected to contribute to the market's growth. The development of new technological up-gradation by significant market players incorporating surface acoustic wave technology to improve the clarity and durability of touch screen POS displays will drive the adoption of POS displays in retail, healthcare, restaurants, & hospitality. Manufacturers and suppliers have created regional procurement models, standard time frames & flexible payment models to generate new consumers, reduce costs & save time, which will aid in the growth of the global POS display market. The increasing supermarkets, hypermarkets & organized retailing will increase the competition in the market, leading to an increase in the adoption of POS displays to attract consumers and increase sales. The rising disposable income of consumers will nudge buyers towards impulsive shopping, which will enhance the effectiveness of POS displays as a marketing strategy. POS display systems allow customization according to client expectations which increases the probability of grabbing the customers' attention. Faster transactions & quick response time will improve customer experience and contribute to the growth of the POS display systems.
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• In 2021, the fixed POS segment dominated the market with the largest market share of 56% and market revenue of 5.34 billion.
The application type segment is divided into fixed POS & mobile POS. In 2021, the fixed POS segment dominated the market with the largest market share of 56% and market revenue of 5.34 billion.
• The restaurant segment is expected to grow at the fastest CAGR of 9.7% over the forecast period.
The end-user type segment is divided into retail, hospitality, entertainment, restaurant, warehouse, healthcare, & others. Over the forecast period, the restaurant segment is expected to grow at the fastest CAGR of 9.7%. The integration of POS display with online food delivery will offer lucrative opportunities for restaurants by enhancing the consumers' satisfaction with new offers, discounts, & rewards. POS display allows consumers to view the entire menu and combo recommendations that drive the sales of restaurants. The neatly placed supplementary condiments target impulsive buyers to attract more revenue.
Regional Segment Analysis of the POS Display Market
• North America (U.S., Canada, Mexico) • Europe (Germany, France, U.K., Italy, Spain, Rest of Europe) • Asia-Pacific (China, Japan, India, Rest of APAC) • South America (Brazil and the Rest of South America) • The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the North American region emerged as the largest market for the global POS display market, with a market share of around 34% and 3.24 billion of the market revenue in 2021. The Asia Pacific is expected to be the largest market during the forecast period. The POS display market in the Asia Pacific has been expanding rapidly. China dominates POS display in the Asia Pacific. The region's growing population with rising disposable income will drive the demand in the retail, restaurant, hospitality, FMCG & entertainment sectors. Market players are evolving and innovating marketing strategies to attract new consumers to capture the growing market share, increasing the adoption of POS displays due to their effectiveness in increasing sales. The increased presence of major market players is a positive development for the Asia Pacific POS display market. Increased adoption of smart devices and higher penetration of internet connectivity has stipulated the market's growth as mobile POS will grow owing to contactless, quick, and hassle-free payment mechanisms.
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Key players operating in the global POS display market are:
• Lightspeed Retail • Clover • Smurfit Kappa PLC • NCR Corporation • Duet • PAR Technology Corporation • ShopKeep • Agilysys Inc. • Toast Inc. • Vend
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global POS display market based on the below-mentioned segments:
Global POS Display Market by Application:
Global POS Display Market by End User:
• Retail • Hospitality • Entertainment • Restaurant • Warehouse • Healthcare • Others
The global POS display market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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