Driven by EMV compliance, the world electronic funds transfer POS (EFTPOS) terminals market is projected to reach 10,769 thousand units by the year 2010. The fast approaching Europay, Mastercard and Visa (EMV) deadline is stepping up growth momentum in the world point of sale (POS) terminals market and increasing adoption of open-architecture systems mirrors a transition from the earlier proprietary customized single platform systems. The transition is driven by the need to adhere to industry standards, and keep pace with evolving requirements for speed, efficiency, transaction expediency, and real-time inventory monitoring.
World EFTPOS Terminals Market to Reach 10,769 Thousand Units by 2010, According to New Report by Global Industry Analysts, Inc.
Driven by EMV compliance, the world electronic funds transfer POS (EFTPOS) terminals market is projected to reach 10,769 thousand units by the year 2010. POS systems market stands enthused by the level of market needs and technology innovation. Increasing adoption of open-architecture systems mirrors a transition from the earlier proprietary customized single platform systems. The transition is driven by the need to adhere to industry standards, and keep pace with evolving requirements for speed, efficiency, transaction expediency, and real-time inventory monitoring.
San Jose, California July 12, 2007 – The fast approaching Europay, Mastercard and Visa (EMV) deadline is stepping up growth momentum in the world point of sale (POS) terminals market. The deadline for migration is encouraging upgradation to EMV compatible POS systems thereby creating new business opportunities in the marketplace. In Spain, for instance, the deadline for EMV compliance has been postponed to the year 2008, and the opportunities offered can be put into perspective by the fact that over 1 million POS terminals need upgradation.
Retail establishments, such as convenience stores, gas stations, record stores and clothing stores, are increasingly employing fully integrated POS solutions, which seamlessly offer a complete range of financial functions beginning from point of sale to the completion of back office accounting. Igniting the trend is the emergence of the retail industry as a network of multi-location chains that need to assimilate and distribute information throughout the enterprise to manage inventory and costs, make critical pricing decisions, study sales data and provide products and services customized to specific requirements. Truly integrated solutions, and Internet enabled POS systems are together expected to rise in popularity to drive market gains in the near future.
In the world EFTPOS terminals market, Asia Pacific holds ample opportunities for growth with a CAGR of 14.34%, while in the United States, growth is mediocre with the market forecast to rise by 402 thousand units between the period 2007 to 2010. Europe ranks as the largest market for EFTPOS with a share of a little over 37% in the world market. The region is far ahead of other regions in the implementation of EMV standards, with Germany the largest individual market poised to clock a CAGR of 12.2% until the year 2010. The largest product group, Smart Card Enabled EFTPOS Terminals market in Europe rakes in a share of above 93%. Shipments of magnetic stripe card readers in Western Europe are negligible with almost all shipments concentrated in Central and Eastern Europe.
In Asia, China represents an optimum market for ferreting business opportunities, given China’s rush to migrate to the EMV standards before the 2008 Olympics scheduled to be held in Beijing. India trails next as an attractive market largely stimulated by the spectacular growth in organized retailing. Magnetic stripe card EFTPOS terminals market in Asia corners a share of little over 39%, while smart card enabled EFTPOS terminals market mirrors the potential to grow at a CAGR of 15.4% over the study’s review period.
Global and regional players operating in the industry include VeriFone, Hypercom, Ingenico S.A., Gemalto N.V., Lipman Israel, Wincor Nixdorf AG, Thales E-Transactions Ltd, Micros Systems Inc, LinkPoint International Inc, Keycorp Limited, NBS Technologies Inc., Atos Worldline, Cadmus Technology Limited, Fujitsu Limited, Motorola Inc, NCR Corporation, Olivetti Tecnost S.p.A., and Intellect Holdings Group among others.
The report titled “Point of Sale (POS) Terminals: A Global Strategic Business Report” provides a comprehensive review of market trends, drivers, issues, and challenges. Richly annotated with authoritative, and unbiased commentaries, and hard-to-find statistical facts, the report provides unequivocal views on future potential while throwing light on the prevailing climate in key product segments, which include Smart Card Enabled EFTPOS Terminals, and Magnetic Stripe Card EFTPOS Terminals. Latent demand patterns are quantified across major geographic market verticals including the United States, Canada, Japan, France, Germany, UK, Italy, Asia-Pacific, and Latin America, among others. Also included in the report is an enumeration of recent mergers, acquisitions, and other strategic industry activities.
For more details about this research report, please visit www.strategyr.com/MCP-2265.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.