Research and Markets Adds Report: The Global POS Hardware and Software Market 2011-2015
Jan 11, 2013 (Close-Up Media via COMTEX) --
Research and Markets has announced the addition of the "Global POS Hardware and Software Market 2011-2015" report to its offerings.
In a release, Research and Markets noted that report highlights include:
One of the key factors contributing to this market growth is the increasing adoption of EMV cards. The Global POS Hardware and Software market has also been witnessing the growing need for improved security standards. However, the slow adoption rate could pose a challenge to the growth of this market.
The key vendors dominating this market space are Ingenico S.A., VeriFone Systems Inc., First Data Corp., and Pax Technology Ltd., Epicor Software Corp., Micros Systems Inc., Oracle Corp., and SAP Corp.
The other vendors mentioned in the report are Hypercom Corp., Heartland Payment Systems Inc., SZZT Electronics Co. Ltd., Equinox Payments, Cybernet Inc., and Spire Payments.
Commenting on the report, an analyst from TechNavio's Hardware team said: ''The increase in cyber threats across the globe has necessitated vendors to incorporate advanced security standards in their point-of-sale (POS) systems. Hence, vendors are incorporating several security technologies such as signature capturing devices, and biometric sensors into the POS systems to secure payment transactions. Furthermore, POS devices are being incorporated with additional features such as touch screens, radio frequency identification, and bar code scanners to enhance the user experience. Furthermore, the growing number of stringent policies related to secure payments from governments of several countries will refine the technology to the greatest possible extent.''
According to the report, one of the main drivers is the increasing adoption of Europay, MasterCard and Visa (EMV) cards. Standardizing POS terminals according to the EMV standards will catalyze the infrastructure development required to facilitate the use of EMV cards. Infrastructure development in turn will foster the adoption of POS terminals. Hence, the demand for POS terminals is expected to be high in the next few years. Hence, the size of the Global POS Hardware and Software market is expected to grow during the period 2011-2015.
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