The global car POS machine market is anticipated to grow at a considerable CAGR of 7.8% during the forecast period (2022-2028). Car point-of-sale (POS) machines are the in-vehicle automated kiosk that fastens the transaction with minimum or zero human intervention. The major factor attributing to the growth of the global car POS machine market includes the increasing people’s access to internet services across the globe. According to the United Nation’s International Telecommunication Union (ITU), the number of people having access to the internet was around 4.9 billion in 2021 representing around 63% of the total global population. This number is expected to increase consistently during the forecast years. Thus, increasing the use of car POS machines for convenience.
The application of car POS machines is also increasing in passenger cars and commercial vehicles due to the increasing number of motor vehicle sales across the globe. According to the Global Sales Statistics 2019-2020 report published by the International Organization of Motor Vehicle Manufacturers (OICA), total sales of all vehicles in 2020 were around 77.0 million vehicles across the globe. Among these, the sales of commercial vehicles were around 24.4 million.
Furthermore, the use of car POS machines is also increasing due to several benefits provided by POS machines. Some of these benefits include better inventory management, easy invoicing, quicker transaction, better customer management, purchasing and supplier order management, enhanced customer experience, and increased customer satisfaction and loyalty. Thus, contributing to the growth of the global car POS machine market.
The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instances-
- In April 2022, NEC Corp. launched Univerge Blue Cloud Services, a comprehensive suite of workplace management solutions. This will provide NEC solutions for workforce wellbeing, convenience, safety, and seamless collaboration.
- In May 2021, the National Payments Corp. Of India (NPCI) partnered with PayCore, a Turkey-based global payment solution provider. PayCore will provide RuPay SoftPOS for cashless payment around the globe. RuPay SoftPOS support a user to easily accept payment from contactless cards, mobile wallets, and wearables with the use of their mobile phones.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- VeriFone Inc., Fujitsu Ltd., Honeywell International Inc., NEC Corp., and Guestlogix Inc., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
A full report of Global Car POS Machine Market is available at: https://orionmarketreports.com/global-car-pos-machine-market/109844/
Global Car POS Machine Market Report by Segment
By Type
- Wired
- Wireless
By Application
- Passenger Vehicles
- Commercial Vehicles
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