Research conducted by TechNavio reveals that the Global Wireless POS (Point of Sale) Terminals market is expected to grow at a CAGR (Compound Annual Growth Rate) of 17.2 percent. The report, which focuses on Americas, APAC, and EMEA, indicates that the market is currently driven by the decreasing cost of wireless POS terminals.
Cost of wireless POS terminals has been decreasing over the years. Prices of some terminals have dropped by over 30 percent in the past three to four years. This can be attributed to new vendors in this market providing competitively priced products with similar functionalities, report TechNavio analysts.
In spite of the demand for wireless POS terminals, unreliable wireless connections hinder the growth of this market. However, the increasing adoption of wireless POS devices by multiple industries is expected to drive market growth.
The Global Wireless POS Terminals market is marked by the emergence of the HAAS concept for wireless POS. This makes the study an important one for companies to fully understand the potential in the market and formulate their own strategy.
The report, Global Wireless Point of Sale (POS) Terminal Market 2010-2014, is based on extensive research and inputs from industry experts, vendors, and end users. It examines the factors impacting the evolution of this market, including the key trends, drivers, and challenges. Further, it contains an in-depth understanding of the key vendors including a SWOT analysis for each vendor.
Key questions answered in this report:
What will the market size be in 2014 and at what rate will it grow? What key trends will this market witness? What are the key factors driving market growth? What are the challenges to market growth? Who are the key vendors in this market space? What are the opportunities and threats faced by each of these key vendors? What are the strengths and weaknesses of each of these key vendors?
TechNavio analysts forecast that the Global Wireless POS Terminal market will reach $4.5 billion in 2014. One of the key factors contributing to this market's growth is the decreasing wireless POS costs. However, unreliable wireless connections could pose a challenge to the growth of this market.
The Wireless POS market has also been witnessing the increasing popularity of hardware as a service concept. Key vendors dominating this market space include Ingenico, Verifone, Hypercom, and Cybernet.
TechNavio's report, Global Wireless POS Terminal Market 2010-2014, has been prepared based on in-depth qualitative and quantitative analysis of the market with inputs from industry experts. The report focuses on the global market and covers the current market scenario and its growth prospects.