The Global POS Display Market is projected to register a considerable CAGR of 10.2% during the forecast period, 2021–2028. The growth of the market is attributed to the rising demand for surface acoustic wave touch screen technology with benefits such as improved clarity and durability.
The point-of-sale (POS) display is a type of sales promotion in which products are shown in a displayed cabin near and next to bill payment counter. POS display aims to draw the attention of customers to buy more products than their targeted requirements as it is designed to display convenience goods in an attractive manner. The display system is wide adopted across several industries especially in retail and departmental stores to attract consumer’s attention to buy more products.
Market Drivers, Restraints, Trends, and Opportunities
- Rising store formats such as convenience stores, hypermarkets, and supermarkets especially in emerging markets are likely to expand the global POS display market.
- Rapid growth of the multi-channel retail shops is expected to boost the market growth during the forecast period.
- Increasing industries especially in the entertainment and food service sector is projected to increase demand for POS displays; thereby, driving the market.
- Increasing price sensitivity of the POS displays may hinder the market growth during the forecast period.
- Ongoing research and development by the prominent players of the market are presenting numerous opportunities for the expansion of market.
Global POS Display Market Segment Insights
Based on applications, the global pos display market is bifurcated into mobile POS and fixed POS. The mobile POS segment is expected to increase its market share significantly during the forecast period. Mobile POS offers a quick payment through apps using a smartphone. In 2019, the fixed POS segment dominated the market by presenting 58% of the global market share. It provides benefits such as employee time clocks, inventory management, gift card management, loyalty programs, a cash drawer, and robust management solutions with business functionality due to which consumer attracts towards it.
On the basis of end-users, the market is segmented into restaurants, retail, healthcare, warehouse, entertainment, hospitality, and others. The restaurant segment is accounted for a substantial CAGR of 10.4% during the analysis period as the restaurants with online delivery service are aimed to increase the POS purchases. Online ordering and delivery are predicted to fuel the POS investments, so that the costly third-party fees for restaurants can be avoided. The segment growth is further pushed by the expansion of the tourism industry which results in the increasing adoption of POS software for better services. In 2019, the retail segment dominated the global POS display market owing to its wide adoption across retail shops.
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