Retail Industry to Lead Australia POS Market During Forecast Period

Increasing proliferation of POS terminals in a wide range of end-use industries such as retail, hospitality and healthcare to drive Australia POS market through 2024

According to TechSci Research report, “Australia POS Market By Product Type, By Deployment, By Industry, Competition, Forecast & Opportunities, 2024”, Australia POS market is anticipated to witness significant growth during forecast period on account of growing demand for contactless payments. Point of sale or POS are used for processing the payment by reading the information of the debit or credit card. Modern POS terminals integrate multiple systems into a single terminal to manage operations such as printing, card payments, billing and cash collection. On account of increasing utilization of debit and credit cards, technological advancements and adoption of mobile payments, POS market is anticipated to witness growth in Australia over the next five years.

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Australia POS market can be segmented based on product type, deployment, industry and region. On the basis of product type, the market can be segregated into mPOS, fixed POS and portable POS. The market share of mPOS and portable POS is anticipated to increase during forecast period on account of their growing demand. Unlike fixed POS, mPOS and portable do not need to be installed on the counter and require continuous power supply, which is contributing to their growth. In terms of industry, retail segment is anticipated to dominate Australia POS market during the forecast period as several businesses in this segment have already implemented or are planning to implement POS so as to reduce waiting time at the checkout counters and offer enhanced customer experience.

“Ingenico International (Pacific) Pty Limited, VeriFone Australia (HAPL) Pty. Ltd., Pax Technology Australia, Toshiba TEC Australia Pty., Ltd., Cisco Systems Australia Pty Ltd, NEC Australia Pty Ltd, NCR Australia Pty Ltd, Diebold Nixdorf Australia Pty Limited, Panasonic Australia Pty Ltd, Samsung Electronics Australia Pty Ltd, among others are the leading players operating in Australia POS market. Companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share. In 2017, Verifone launched Verifone Carbon 8, which is an affordable and portable POS solution.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Australia POS Market By Product Type, By Deployment, By Industry, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of Australia POS market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Australia POS market.

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