Market Highlights:
The global electronic cash register market is projected to witness a rapid growth during the forecast period. Increasing emergence of cloud-based technologies is a major factor driving the growth of the market. Moreover, increasing demand for electronic cash register across various industry verticals such as BFSI, healthcare, manufacturing, retail and IT & telecommunications is fueling the growth of the global market.
The global electronic cash register market, by geography, is segmented into North America, Europe, Asia Pacific, and Rest of the World. As compared to other regions, the electronic cash register market in North America is expected to witness a significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of the North American electronic cash register market share owing to the presence of a large number of established key players such as Toshiba Corporation, Casio Computer Co., Ltd., Dell, Inc. and Olivetti in this region. Due to the drastic fall in the usage of native applications and a considerable shift towards the adoption of mobile applications in the region, the market is likely to show immense growth in the coming future. Additionally, North America also has a well-established infrastructure, which allows a higher penetration of devices and ultimately provides better connectivity. Increasing need for innovations and advancements in the technology are other major factors responsible for the growth of the global electronic cash register market.
In the global electronic cash register market, Asia Pacific is anticipated to witness a relatively faster adoption at the highest CAGR during the forecast period as compared to other regions owing to the growing adoption of cashless payments through POS register terminals across different countries in the region.
The global electronic cash register market share is projected to reach USD 8 billion at a CAGR of over 11% by the end of the forecast period 2017-2023.
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Electronic Cash Register Market Segmentation:
The global electronic cash register market is segmented on the basis of type, product and end user. The end user segment is classified as retail and hospitality. However, the retail segment is expected to hold the largest market share of the electronic cash register market. Electronic cash registers offer various benefits to the businesses by accurately tracking transactions and many others at a very low cost.
Some of the prominent players in the global electronic cash register market: Toshiba Corporation (Japan), Foxconn Technologies (China), Casio Computer Co., Ltd. (Japan), Dell, Inc. (U.S.), Olivetti S.p.A. (Italy), Citaq Co. Ltd. (Germany), Fujitsu Ltd. (Japan), Hewlett-Packard (U.S.), Forbes Technosys (India) and Posiflex Technology Pvt. Ltd. (Taiwan).
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Market Research Analysis:
North America is estimated to account for the largest share of the market, whereas Europe market is projected to grow at the fastest rate during the forecast period. The North American market is witnessing a rapid growth due to technological advancements and increasing demand for mobile application development platforms across different industry verticals in this region. U.S. holds the majority of market share both in terms of revenue as well as the adoption of mobile applications.
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