Car POS machine market is anticipated to grow at a considerable CAGR of 7.8% during the forecast period. Cloud computing refers to the on-demand access of data and programs from a centralized pool of resources. The rising adoption of the cloud platform is considered to be one of the major factors augmenting the growth of the car POS machine market. The growth is attributed to the faster deployment of new capabilities including the introduction of advanced technologies such as AI. Deployment of new IT solutions for improving the business capabilities takes subsequently higher time in the case of conventional on-premise service-based systems compared to cloud-based solutions. In addition, getting a new application to deploy successfully often takes months, resulting in a waste of time. However, deploying a new application in a cloud platform requires only a week or two. Furthermore, the cloud platform assists in reducing the cost by using a consistent set of best practices. Cloud service eliminates the extra time required to run the application after its deployment, which results in business benefits.
However, the security concern is the major barrier to the implementation of contactless payment. There are chances of proximity intercept, in which a card’s signal is grabbed by a fraudster’s device. For instance, Researchers Team at Which? (2015) performed a test for observing the security level of contactless payments. By using an easy-to-buy card reader and free software, it is possible to steal details from contactless cards. This easy-to-buy card reader and free software can extract a card number and expiry date from 10 different contactless cards. Thus, this factor may restrain the growth of the car POS machine market during the forecast period.
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Car POS Machine Market Segmentation
By Type
- Wired
- Wireless
By Application
- Passenger Vehicles
- Commercial Vehicles
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Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Casio Computer Co., Ltd.
- Datalogic S.p.A.
- DBS, Inc.
- Fujitsu Ltd.
- Guestlogix Inc.
- Honeywell International Inc.
- INGENICO Group S.A.
- Intermec
- NEC Corp.
- Newland Group
- PAX Technology
- Summit Computer Networks, Inc.
- VeriFone Inc.
- Xinguodu Technology
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