Market Trends of Poland POS Terminal Industry
This section covers the major market trends shaping the Poland POS Terminal Market according to our research experts:
Strong adoption of Mobile Point-of-Sale System is Driving the Market Growth
- An mPOS is a smarter alternative to the traditional POS terminals, which connects to smartphones via Bluetooth. A mobile point of sale system allows users to accept payments via tablets, smartphones, and other handheld devices without being tied to a POS register in a single location. The transactions can include credit card magstripe reader payments and wireless transactions. It utilizes a mobile phone's data connection to process transactions.
- Mobile POS systems are gaining traction in the country as they allow sales and service industries to conduct the transaction at the customer's location, adding flexibility to the whole process and improving the customer experience.
- The growth in e-commerce and the entangling of brick-and-mortar and online retail practices are also expected to affect the future growth of the terminals. In fact, with the option of cash on delivery provided by major e-commerce platforms, a sudden surge in the adoption of mobile POS terminals has been recognized.
- Data protection is paramount as mPOS devices may not have security protocols as robust as their POS counterparts, especially if users using commercial-off-the-shelf (COTS) devices such as Apple or Android smartphones and tablets.
- Towards the end of the forecast period, the segment is expected to multiply in market presence as vendors increase their relevant offerings in response to the increased demand for contactless ease-of-use payment methods. As mPOS solutions are specially designed for tablets instead of desktop computers, the trend of smaller and more portable devices will augment the growth of the market.
Understand The Key Trends Shaping This Market
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Retail Sector is One Factor for Market Growth
- Retail industry is one of the major users of POS terminals. The segment is expected to hold a significant share in Europe. The retail segment is slowing picking up with the reopening of brick-and-mortar stores in different parts of the region.
- According to central statstical office of poland, After increasing by 23.6 % in the month of may, retail sales in Poland increased by 19.9 %year over year in June 2022.The increasing need for multiple POS systems among big retailers, supermarkets, and departmental stores with a robust and centralized system has propelled the retail sector's steady growth in the POS terminal market. The increased emphasis on consumer behavior has led to increased POS adoption due to its application of consumer mapping.
- The rising number of retail stores across regions attracts customers due to significant discounts and other services; however, customer retention becomes the primary challenge to sustain in the market. This competition increases the requirement to reinvent their business models to keep away from competition concerning price and find the balance between investing in the latest technologies and revenue.
- The inventory, sales reporting, financial management, and customer analytics features, which POS terminals provide, assist the retailers in overcoming the problems related to customer retention. Hence, the requirement for customer retention and competition growth of the industry promotes the development of POS terminals.
- mPOS systems are poised to be significantly utilized in the retail outlets to integrate core functions such as sales reporting, customer management, inventory management, and employee management under one system.
