According to a new market report published by Credence Research, Inc. “Global Hospitality POS Terminals Market (By Product Type (Fixed POS terminals and Mobile POS terminals), By Component (Hardware and Software), and By Application (Restaurants, Lodging Establishments, and Others) - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 - 2023”, the global hospitality POS terminals market is expected to witness a steady growth, expanding at a CAGR of 13.0% from 2016 to 2023. Browse the Global Hospitality POS Terminals (By Product Type (Fixed POS terminals and Mobile POS terminals), By Component (Hardware and Software), and By Application (Restaurants, Lodging Establishments, and Others) Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023 report at http://www.credenceresearch.com/report/hospitality-pos-terminals-market

1. Global Hospitality POS Terminals Market to Reach US$
32.9 Bn by 2023: Credence Research
According to a new market report published by Credence Research, Inc. “Global Hospitality POS Terminals
Market (By Product Type (Fixed POS terminals and Mobile POS terminals), By Component (Hardware and
Software), and By Application (Restaurants, Lodging Establishments, and Others) - Growth, Share,
Opportunities, Competitive Analysis, and Forecast 2016 - 2023”, the global hospitality POS terminals
market is expected to witness a steady growth, expanding at a CAGR of 13.0% from 2016 to 2023.
Browse the Global Hospitality POS Terminals (By Product Type (Fixed POS terminals and Mobile POS
terminals), By Component (Hardware and Software), and By Application (Restaurants, Lodging
Establishments, and Others) Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast
2016 – 2023 report at http://www.credenceresearch.com/report/hospitality-pos-terminals-market
Market Insights
A Point of Sale terminal is an electronic system/device that accepts cashless payments from customers at
a point of purchase. The use of Point-of-Sale terminals has completely revolutionized the restaurant and
hospitality industry. The major impact is witnessed in fast food franchises, where the manager is able to
take order from the customer and send it wirelessly to the kitchen, thereby reducing the time taken to
process the order. Thus, use of POS terminals enable manager to speed-up the complete order taking
process and reduce time taken to serve, thereby improving the operational efficiency and customer
experience. Furthermore, the use of POS systems significantly reduces the total operating cost and
mistakes made due to human error, which, in turn has a significant impact on the overall profit margins
earned by restaurants. Profits earned in the hospitality industry are majorly driven by customer
experience. As such, offering excellent customer service not only in terms of food quality, but also secured
payment processing is very crucial. Security concerns related to data breaches have inhibited the use of
POS terminals in the yester years. However, the vendors in collaboration with software developers have
been able to develop POS terminals which make debit card/credit card processing secure and seamless.
In addition, POS terminals enable lodge/hotel owners to process complete lodging application data
including check-in, express check-out, date and arrivals, online reservations, gift and loyalty cards
efficiently. Thus, need for efficient operational management coupled with the customer-centric focus is
collectively expected to drive demand for POS terminals in the hospitality sector.
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2. In terms of geographic regions, Asia Pacific is expected to emerge as the fastest growing market during
the forecast period. The anticipated growth in the region is expected to be driven by expanding fast food
chains, especially in tier-3 and tier-2 cities.
Healthcare POS Terminals Market
Competitive Insights:
The advent of cloud-based solutions has offered the much needed impetus to the global POS terminals
market that was struggling to gain traction. Their emergence has made market more competitive. The
intensity of competition is expected to remain high as players strive to develop innovative and more
secure solutions. Some of the leading and emerging players identified in this research study include
Verifone Systems, Inc. (the United States), Ingenico S.A. (France), PAX Technology Ltd. (Hong Kong),
Hewlett Packard (the United States), MICROS Systems, Inc. (the United States), NCR Corporation (the
United States), Panasonic Corporation (Japan), Toshiba Corporation (Japan), and Samsung Electronics Co.,
Ltd. (South Korea) among others.
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3. Key Trends:
Growing adoption of cloud-based (SaaS platform) POS terminal devices
Growing preference for card-based payments at restaurants, resorts, and lodging establishment
Compliance with EMV regulations to trigger replacement demand
Opportunity for hospitality service providers to efficiently manage operations such as check-ins, express
check-outs, online reservations, and loyalty options
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