The global handheld POS market is poised for a significant shift owing to its mobility and enhanced user experience. Need for modernization coupled with ease of payment procedures in retail, healthcare, supply chain and restaurants are expected to drive handheld POS market growth. The market is anticipated to witness considerable growth owing to the cost efficient inventory and retail process made by portable terminal function set including wireless capability and transport.
Handheld POS devices are more versatile than standard PC-based POS systems which provide wireless connectivity and higher range of functions to the network. The handheld POS system supports both 4G/3G and Wi-Fi 802.1x fixed wireless data solutions allowing seamless information transport to enterprise systems which is expected to fuel handheld POS market growth.
Handheld POS system offers easy data accessibility, quick centralization of data and low costs which is expected to impel handheld POS system market growth over the forecast period The handheld POS system offers invaluable features such as send and stay which allows servers to place orders from the place.
The segments addressed by handheld POS devices relates to replacement and extension of integrated direct inventory POS applications, standard cash register POS terminals, mobile indoor payment POS solutions and portable combined on site/remote POS terminals. The system aids retailers to combine back office and in-store solutions, control inventory flow to enhance productivity. Further, the handheld POS devices help in tracking customer purchase patterns followed by customer facing technology which helps in increasing customer retention, sales and loyalty which is anticipated to boost handheld POS market growth.
Handheld POS systems can handle a broad range of payment options and play a vital role in marketing, pricing, integration with accounting, security, digital signage and property management. Incentive pricing, customer service, repeat business, managed transaction systems and coupon management can be implemented in an efficient manner via handheld POS systems which is expected to proliferate demand for handheld POS over the forecast period.
Key driving factors for the handheld POS market include increased adoption of debit and credit cards owing to rising consumer preference towards card payments are anticipated to drive the market over the next six years Increasing popularity of smart phones, tablets and other handheld devices is expected to offer lucrative opportunities for the handheld POS market. Additionally, handheld POS devices can be integrated into business processes to support omni-channel and other business initiatives.
Cloud-based POS solutions have been offering various key features such as lower capex, thereby, reducing internal IT requirements and service on demand along with several companies looking to offer Software as a Service (SaaS). Rising technology facilitates for handheld POS which allows the mobile users to pay without going to a centralized sales line or counter.
Lack of network infrastructure and awareness about the handheld POS systems are projected to hamper handheld POS market growth.
The handheld POS market can be bifurcated by components into hardware and software. On the basis of application, the market can be segmented into hospitality, healthcare, restaurant, retail, warehouse/distribution and entertainment. The retail and hospitality sectors are witnessing considerable demand for handheld POS systems owing to its customer analytics features and improved rate of investment.
North America is projected to be the dominant region for the handheld POS market. Asia Pacific is expected to emerge as a prominent region for the handheld POS market owing to low manufacturing costs offered by several Chinese companies.
Key player in the market include Intermec, Motorola Solutions, Fuzion Mobile Computer, Bizsoft Computer Technology Co. Ltd, Kaching Mobile, Fersion Computer Technology Co., Ltd, Fujitsu Ltd, Casio, Honeywell Scanning and Mobility, Cybernet and Oracle. Major companies operating in the handheld POS market are being challenged by several Chinese companies which manufacture inexpensive, portable and lightweight handheld POS devices.
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