Asia Pacific Payment Machine Mounting Systems Market Key Players and Forecast by 2027

The Asia Pacific payment machine mounting systems market was valued at US$ 93.04 million in 2019 and is expected to grow at a CAGR of 8.6% during the forecast period to reach US$ 173.03 million by 2027

The payment machine monitoring system market in APAC is analyzed on the basis of various trends across demographics. The countries analyzed include; China, India, Japan, South Korea, Australia, and the Rest of APAC (including Taiwan, Singapore, Malaysia, and Thailand). These countries have been showcasing tremendous growth in the retail sector, healthcare sector, and the hospitality industry. Technological advancements and adoption rate has soared up significantly in these countries. A substantial percentage of the population in the respective countries mentioned above have started using card-based payment in order to enhance the digitalization in the country. Pertaining to the rise in demand for card-based payment, the demand, and manufacturing of the POS system has ascended steeply. This, in turn, has led to the development and adoption of POS mounts or stands, thereby boosting the Asia Pacific payment machine mounting system market.

The digitalization surge in the banking sector in the APAC region has led to a rise in the availability of debit cards and credit cards. The easy obtainability of these cards has enabled a significant fraction of the population to use card-based payment, which has led to a rise in the adoption of POS terminals. Therefore, the rise in POS terminals among large retailers, hotels, restaurants, and hospitals has increased the demand for POS mounts, which is leading the growth of the payment machine mounting system. The SMEs in the end users, as mentioned above, are incorporating POS terminals into their systems, which is expected to create lucrative business opportunities for payment machine mounting system market players in the coming years.

The APAC countries are facing substantial losses in respective industries owing to the outbreak of COVID-19 since December 2019. The coronavirus outbreak in China has led the country to experience tremendous tremors on the industries, following the temporary closure of manufacturing facilities and work from home scenarios. The outbreak has restricted the growth of the payment machine mounting system market in the country, pertaining to the fact that the majority of the production plants have been temporarily shut on the wake of lockdown strategy adopted by the governments. China, India, and Japan payment machine mounting system market players are the most affected since these countries have been experiencing stringent and longer nation-wide lockdown.

Asia Pacific Payment Machine Mounting Systems Report Scope