2014-02-18 19:45:03 - Global Wireless POS Terminal Market 2012-2016 - a new market research report on companiesandmarkets.com
The Global Wireless POS Terminal market is to grow at a CAGR of 7.7 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing necessity to improve hospitality and reliability among customers. The Global Wireless POS Terminal market has also been witnessing the increasing organized logistics sector in emerging countries. However, the profit compromising POS gateway charges could pose a challenge to the growth of this market.
The market for wireless POS terminals is gearing up in the APAC region. In particular, the mobile service providers in Japan and South Korea are active in setting up cross-border wireless POS terminal facilities between the two countries. As Japan is the technology leader in the
APAC region, the Japanese service providers are highly keen to capitalize on wireless POS terminals. Around 15 million Japanese travelled abroad in 2010, majorly to China and South Korea but also to Europe and the US. The prime reason for moving to wireless POS terminals is to enable the Japanese customers to use contactless services such as payment and transit ticketing in the countries they visit.
The Global Wireless POS Terminal market is witnessing high growth with the increased adoption of smart cards and EMV cards worldwide. With the increased adoption and the competition from new entrants, the average price of wireless POS terminals has been decreasing, which is further driving the market.
One of the key factors hindering the growth of this market is the lack of innovative applications of wireless POS terminals in the developing countries
The key vendors dominating this market space are Equinox Payments LLC, Ingenico S.A., and VeriFone Systems Inc. The other vendors mentioned in the report are First Data Corp., PAX Technology Ltd., and ViVOtech Systems Inc.
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