Overview and Scope
An electronic cash register (ECR) is a digital device used in retail and hospitality environments to calculate and record sales transactions, manage cash flow, and print receipts for customers. It typically integrates with point-of-sale systems, tracks inventory, and can generate detailed financial reports to streamline business operations.
Sizing and Forecast
The electronic cash register market size has grown rapidly in recent years. It will grow from $16.62 billion in 2023 to $18.66 billion in 2024 at a compound annual growth rate (CAGR) of 12.3%. The growth in the historic period can be attributed to an increase in the number of checkout terminals, adoption by small and medium-sized enterprises (SMEs), increased focus on consumer convenience, expansion and modernization of the retail industry, and increased consumer spending.
The electronic cash register market size is expected to see rapid growth in the next few years. It will grow to $29.79 billion in 2028 at a compound annual growth rate (CAGR) of 12.4%. The growth in the forecast period can be attributed to increasing penetration of the internet, increasing digital payments, increasing demand for mobility, increasing adoption of contactless payments, and rising consumer expectations. Major trends in the forecast period include innovative technologies, mobile payment integration, data analytics, and business intelligence, adoption of cloud-based point of sale (POS) solutions, and integration of artificial intelligence.
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The electronic cash register market covered in this report is segmented –
1) By Type: Stationary, Portable
2) By Application: Oil And Gas, Refining, Power Generation, Chemical
3) By End-User: Retail, Hospitality
Asia-Pacific was the largest region in the electronic cash register market in 2023. The regions covered in the electronic cash register market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing adoption of contactless payments is expected to propel the growth of the electronic cash register market going forward. Contactless payment is a secure method of transaction that allows consumers to make purchases by simply tapping or waving their payment device near a point-of-sale (POS) terminal equipped with the necessary technology. Contactless payments are rising due to their convenience, speed, and enhanced security features. Electronic cash registers are used as contactless payments to protect sensitive card information and provide secure, efficient, and hygienic payment options to consumers. For instance, in March 2023, according to the Banking & Payments Federation Ireland (BPFI), an Ireland-based representative body of banking and payments, there was $19.42 billion (€17.9 billion) spent on using contactless payments in 2022, which was a 31% increase from 2021. Therefore, the increasing adoption of contactless payments is driving the growth of the electronic cash register market.
Key Industry Players
Major companies operating in the electronic cash register market are Samsung Electronics Co. Ltd., Dell Technologies Inc., Panasonic Corporation, International Business Machine Corporation, Fujitsu Limited, Toshiba Corporation, Nippon Electric Company Ltd. , Sharp Electronics Corporation, NCR Corporation, Zebra Technologies Corporation, Worldline SA, Epson America Inc., Diebold Nixdorf AG, SZZT Electronics Co. Ltd., Casio Computer Co. Ltd., PAX Technology Limited, Posiflex Technology Inc. , Verifone Systems Inc., Bixolon Co. Ltd., DataVan International Corporation , Elo Touch Solutions Inc., Omniprint Inc. , Royal Consumer Information Products Inc.
The electronic cash register market report table of contents includes:
1. Executive Summary
2. Electronic Cash Register Market Characteristics
3. Electronic Cash Register Market Trends And Strategies
4. Electronic Cash Register Market – Macro Economic Scenario
5. Global Electronic Cash Register Market Size and Growth
…..
32. Global Electronic Cash Register Market Competitive Benchmarking
33. Global Electronic Cash Register Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Electronic Cash Register Market
35. Electronic Cash Register Market Future Outlook and Potential Analysis
36. Appendix
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