DUBLIN–(BUSINESS WIRE)–The “Southeast Asia POS Terminal Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The Southeast Asia POS Terminal Market is expected to reach a CAGR of 32.4% during the forecast period 2021 – 2026.
Factors such as gradually rising use of online payments in retail, growing middle-class income, and increasing investments and partnerships from foreign players are expected to boost the growth of the market.
The POS terminal market has grown significantly over the past few years, owing to its ability to offer an increased return on investment and ease of access. POS systems that facilitate transactions from the central component of businesses across industries, like retail, hospitality, transportation, and banking, have gained importance in companies of small and big sizes, over the years.
POS terminal systems evolved from being transaction-oriented terminals/devices to systems that can integrate with the company’s CRM and other financial solutions. This evolution, thus, empowered the end-users with business intelligence to better manage their revenue streams and inventory. With the functional benefits that the advanced POS systems offer, companies have replaced their traditional billing software with POS systems, thus, securing the growth of the POS system market.
In September 2019, a South Korean financial firm Alliex announced that it is planning to invest USD 700 million to install a total of 600,000 shared POS devices in Vietnam in the next five years. Moreover, growth is supported by government initiatives to boost the cashless economy. For instance, the Vietnamese government set the target to make 90% of all transactions cashless by 2020.
However, lack of interoperability between the different payment systems, low acceptance by merchants, and high dependence on cash is restricting the market growth. According to the World Bank, over 50% of people living in South-East Asia don’t have an account at a formal financial institution, and according to the Ministry of Industry and Trade, about 80% of people residing in Vietnam prefer to use cash for their daily transactions.
The spread of the coronavirus pandemic, which has triggered a sharp rise in digital payments and home delivery, is expected to impact the growth of point of sale terminal market positively in the short run.
Moreover, many retailers are shifting their attention from cash preservation toward a flexible omnichannel retail model and sustainable fulfillment to drive sales, which can further improve the adoption of PoS terminals. However, supply chain disruptions are causing a shortage of swipe machines to process digital payments at retail outlets, which might hamper the growth temporarily.
Key Market Trends
Retail Segment is Expected to Grow Significantly
Competitive Landscape
The southeast Asia point of sale terminal market is moderately fragmented owing to the presence of local as well as international players. The players in the market are investing in inventing new ways to attract and retain customers. The subscription-based pricing model in the software segment offers flexibility to the customers but increases the market competition.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Attractiveness – Porter’s Five Forces Analysis
4.3 Assessment of Impact of COVID-19 on Southeast Asia POS Market
4.4 Market Drivers
4.4.1 Growing Investments in POS and digitalization in the payment industry is expected to boost the market growth
4.5 Market Restraints
5 MARKET SEGMENTATION
5.1 By Component
5.1.1 Hardware
5.1.2 Software
5.1.3 Services
5.2 By Type
5.2.1 Fixed Point-of-Sale Terminals
5.2.2 Mobile/Portable Point-of-Sale Terminals
5.3 By End-user Industry
5.3.1 Entertainment
5.3.2 Hospitality
5.3.3 Healthcare
5.3.4 Retail
5.3.5 Other End-user Industries
5.4 Country
5.4.1 Singapore
5.4.2 Indonesia
5.4.3 Vietnam
5.4.4 Malaysia
5.4.5 Others
6 COMPETITIVE INTELLIGENCE
6.1 Company Profiles
6.1.1 AutoCount Soft Pte Ltd
6.1.2 iMetrics PTE Ltd
6.1.3 AZ Digital
6.1.4 Samsung Electronics Co. Ltd.
6.1.5 NCR Corporation
6.1.6 Toshiba Tec Corporation
6.1.7 Hewlett Packard Company
6.1.8 Bindo Labs, Inc.
6.1.9 Shopify
6.1.10 Qashier
6.1.11 StoreHub
7 INVESTMENT ANALYSIS
8 FUTURE OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/t3n1kx
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