Report : Payment Machine Mounting Systems Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type [POS Mount (Fixed Payment Mount and Drive Extension Arm Payment Mount) and Others]; End Users [Retail Stores, Restaurant and Pubs, Hotels, Hospitals, and Others]
Growing number of retail outletsdrive payment machine mounting systems market growth at 6.5%CAGR during 2020–2027
According to our latest market study on "Payment Machine Mounting Systems Market to 2027 - COVID-19 Impact and Global Analysis and Forecast by Types (POS Mount (Fixed Payment Mount, Drive Extension Arm Payment Mount), Others); End Users (Retail Stores, Restaurant and Pubs, Hotels, Hospitals, Others); and Geography", the market was valued at US$ 260.19 million in 2019 and is projected to reach US$ 413 million by 2027; it is expected to grow at a CAGR of 6.5% from 2019 to 2027.The report highlights the key factors driving the market growth, and prominent players and their developments in the market.
The adoption of POS solutions in the retail, healthcare, and hospitality industries is increasing, which is impacting the implementation of payment machine mounting systems, such as adapters, cash drawers, and trays. In retail outlets, POS solutions are deployed to ensure quick payment receipts. The POS solutions are gaining momentum in the retail industry as they ensure safe and secure transactions while saving time of customers. Rise in the number of retail outlets, hospitals, pubs, and restaurants worldwide is one of the major factors propelling the use of POS solutions and related products, such as mounting stands. The retail companies having online presence are putting additional efforts on expanding their imprints through physical stores. Also, changing lifestyle and eating habits of individuals have resulted in the rise in number of restaurants and pubs worldwide. Moreover, increase in construction of hospitals worldwide is another aspect playing a pivotal role in boosting the penetration of POS solutions and mounting systems. Moreover, the construction of retail stores and hospitals in the emerging economies of APAC is projected to provide growth opportunities to the payment machine mounting system providers. Moreover, continuous technological developments in POS solutions have resulted in the emergence of modular mounting solutions for the benefit of mentioned industries.
HPC System, Innovative Office Products, LLC, Apollo Electronics Co., Ltd., LUMI LEGEND CORP, Atdec Pty Ltd, Diwei Industrial Co., Ltd., ENS-CO, Ergonomic Solutions, MMF POS, and Techpole are among the leading players operating in the payment machine mounting systems market.
COVID-19 Impact on Payment Machine Mounting Systems Market
According to the World Health Organization (WHO) report, the US, Spain, Italy, France, Germany, the UK, Turkey, Iran, China, and Russia are among the worst-affected countries by the COVID-19 outbreak. The COVID-19 crisis is affecting the industries worldwide, and the global economy is anticipated to experience the worst hit in 2020 and 2021. The outbreak has created significant disruptions in primary industries such as consumer electronics, semiconductor, automotive, and IT infrastructure. All these industries are crucial for the growth of global payment machine mounting systems market as they generate a major demand for these systems. The factory shutdowns, travel bans, trade bans, and border lockdowns to combat and contain the outbreak have impacted both manufacturing and sales of various consumer electronic products and components. The global electronics and semiconductor industry is one of the major industries that is suffering serious disruptions due to interrupted supply chains and manufacturing shutdowns.
The report segments the global payment machine mounting systems market as follows:
By End Users