Market Size –
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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Scope Of Electronic Cash Register Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Electronic Cash Register Market Overview
Market Drivers –
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.
Market Trends –
Major companies operating in the electronic cash register market are increasing their focus on developing advanced technologies such as Android and cloud solutions to enhance functionality, streamline operations, and provide greater flexibility to businesses. Android cloud solutions in electronic cash registers refer to integrating Android-based operating systems with cloud-based functionalities, enabling advanced features such as real-time data access and remote management for enhanced business efficiency. For instance, in June 2022, Ingenico, a France-based credit card service company, partnered with TurningCloud, a Taiwan-based enterprise solutions developer, to launch the AECR C9. This is an Android electronic cash register that serves as an all-in-one smart cash register, featuring a secure payment terminal. The AECR C9 utilizes an Android and cloud solution, offering innovative features for merchants. With dual 15.6-inch touchscreens, one for cashiers and the other for customers, it aims to enhance the retail experience.
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
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Regional Insights –
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.
Key Companies –
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.
Table of Contents
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
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31. Electronic Cash Register Market Other Major And Innovative Companies
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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