The global point of sale display market size was valued at USD 12.62 billion in 2021 and is predicted to reach at USD 25.69 billion by 2030, increasing at a CAGR of 8.22% from 2022 to 2030. When merchandises are displayed around, next to, or even on a transactional buying area, it is known as a POS display (Point-of-Sale display). Point-of-sale displays are the most effective when used to promote or display convenience goods. These displays are designed to pique the interest of customers and persuade them to make a purchase on the spot. For most people, products displayed at a store's checkout counter may not be at the top of their shopping list. Point-of-sale displays make things more readily apparent to customers, allowing them to see whether or not they actually need that particular item in order to address their problem.
Displays are a terrific way to raise brand recognition and increase sales at the same time. Customers' attention is generally drawn to these displays because they are situated near where they pay their bills. As a result, they are strategically located to encourage people to buy on impulse. Companies are better equipped to plan and implement these displays based on new information about consumer behaviour. Convenience stores are opening up in Tier 2 and Tier 3 cities as a result of globalisation, which will lead to the rise of these displays.
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The Combination of Progress in Technology and An Increase in The Use of Mobile Point-Of-Sale Machines
The phrase "mobile point of sale" (mPOS) refers to a mobile device such as a smartphone, tablet, as well as specialized wireless device that may wirelessly execute the operations of a cash register or digital point-of-sale terminal (mobile point-of-sale). An affordable mobile point-of-sale system (mPOS) that enables transaction processing for a small business can also be found. Mobile point-of-sale (mPOS) technology is substantially less costly than conventional point-of-sale (POS) technology. It is built on subscription models that are run through the cloud and have cheap starting expenses as well as monthly maintenance fees. In addition, mobile point-of-sale systems may lead to shorter lineups at the checkout and the return counter. In recent years, the market for mobile point-of-sale systems has reached a tipping point, with even major shops implementing this technology to help them modernize their customer satisfaction and boost customer happiness in spite of dwindling foot traffic. A study conducted by Juniper Research estimates that by the year 2023, mobile point-of-sale (mPOS) transactions will represent for 24% of all POS transactions. There is a diverse selection of mobile point-of-sale systems available to businesses. Some of the most well-known names in the mobile point-of-sale industry are Square, Shopify, Lightspeed, PayPal Here, Intuit, ShopKeep, as well as SalesVu.
The Increased Need for Point-Of-Sale Display Systems Across Retailers
These marketplaces are becoming extremely fragmented as a result of the growing variety of key market players operating within a variety of industries. Market participants implement efficient marketing techniques in order to keep their existing customer base and expand their market share. One such effective method that can assist boost the exposure of goods or services and, as a result, drive the company's sales and ensure its supremacy in its relevant industry is the use of point-of-sale (POS) displays. With the help of point-of-sale (POS) displays, brands may claim their own private space, apart from that of their rivals. This gives the brand a greater opportunity to advance its product line and increase sales by attracting the focus of customers.
High Starting Expenses Associated with Deploying Point-Of-Sale Displays
A fragmented market has emerged as a consequence of the growing variety of key market players across all industries, as was previously indicated. To maintain the existing client base in the competitively fragmented market, significant financial resources are allocated to the branding, promotion, and marketing of products and services. A supply-demand gap has developed as a result of the restricted POS display area and the increasing level of competitiveness. This means that the demand of POS display space is extremely high in comparison to the space that is actually available. The cost of the commodity goes higher whenever demand is strong but supply is low since this combination drives up demand. The increasing expenses associated with integrating POS displays have the potential to impede the expansion of the market.
Increasing Expenditures on Point-Of-Purchase (POS) Display Technology
POS display manufacturers devote significant resources into the research and development of innovative touch screen and surface acoustic web technologies. The technology of surface acoustic waves makes displays better in terms of their visibility, clarity, as well as durability, which in turn makes them more attractive and appealing. The increasing inclination for acoustic surface wave technology to attract more customers as a result of its clarity as well as the high-definition display is anticipated to present profitable chances for the POS display market over the course of the projected year. The expansion of the global market for point-of-sale displays will also be aided by developments in point-of-sale displays that make more efficient use of space, provide superior visuals, and incorporate rotating die-cut displays. In order to compete with the expanding number of online distribution platforms, brick-and-mortar retailers are increasingly turning to point-of-sale (POS) display formats to entice customers and boost sales.
The global point-of-sale displays market is divided into different segments according to the Product Type, End-User, and Region (Geography).
By Product Type, the Global Point of Sale Display Market is segmented into Countertop Displays, Free-standing Displays, Floor Displays, and Others. It is anticipated that the Countertop Displays segment will rise at a high compound annual growth rate (CAGR) throughout the period covered by the forecast. These displays are meant to elicit in customers something that the marketing industry refers to as their "problem recognition response." The items that are displayed on a consumer's countertop display are typically not things that are on their mind. Displays at points of sale provide potential customers a chance to see several products and prompt them to consider the possibility that they could use one of those things to address a specific need. They attract consumer’s attention, which in turn leads to spontaneous purchases.
By End-User, the global point of sale display market is segmented into Retailers, Auto Dealers, Banks, Construction Companies, Restaurants, Community Events, and Others. The Restaurants segment is anticipated to grow at a high compound annual growth rate (CAGR) throughout the duration of the forecast period. The restaurants that offer online delivery services intend to boost their customers' point-of-sale spending. It is anticipated that the ability to place orders online and have them delivered will encourage point-of-sale (POS) investments, which will allow restaurants to avoid paying expensive third-party fees. Instead of interacting with any information that is displayed on the screen or pressing any of the buttons, the consumer merely uses it as visual evidence of what they are looking for.
A customer display screen can even be customized to include the specific branding of the restaurant, and it can be used to offer consumers with greater information regarding promotions, restaurant reward programs, new menu items, and other relevant topics. Because they can be placed on the counter where the client places their order and pays for it, they are most frequently utilized by limited-service restaurants such as fast-casual and fast-food courts. This is because these restaurants have fewer employees to attend to customers' needs. As a result, the current trend of digital displays in restaurants is anticipated to increase the size of the point-of-sale display market during the time of the forecast.
By Region or Geography, the global point of sale display market is segmented into North America, Europe, Asia-Pacific (APAC Region), Latin America, and Middle East & Africa (MEA). In 2021, the market for point-of-sale displays in the rest of the world was led by North America. Established retail chains like Target and Wal-Mart are driving up demand in this region for the incorporation of creative marketing methods for point-of-sale display. This demand is stimulated by the strong legislative support that exists in this region. This is among the most significant aspects that is driving the market growth for point-of-sale displays. The global market for point-of-sale displays is expected to expand at the fastest rate over the next few years in the Asia Pacific region. The key factor contributing to the expansion of the point-of-sale display market on a global scale is the success of companies in drawing substantial financial commitments from a diverse set of retailers in the context of aggressive marketing campaigns.
The global point-of-sale displays market is segmented by geography into North America, Europe, Asia-Pacific (APAC Region), Latin America, and Middle East & Africa (MEA).
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In 2021, the market share held by North America was the greatest of all regions. The existence of key global players, together with high levels of demand and implementation of smart integrated systems, are all aspects that are helping to the expansion of the regional market. It is projected that increasing acceptance of the products in retail stores, restaurants, healthcare facilities, hospitality establishments, and cashless payment systems is what is driving the growth of the market in this area.
During the period covered by this estimate, the POS Display market in Asia Pacific is anticipated to expand at a rate that is highest in terms of the Compound Annual Growth Rate (CAGR). There has been a recent uptick in the use of regional sourcing strategies for the purpose of finding cost-cutting solutions. All because of this the expansion of the market in this region is taking place.
In addition, it has been seen as a developing trend in the Asia-Pacific area that businesses are increasingly employing point-of-sale (POS) machines as a tool for marketing. Displays that are utilized in point-of-sale systems can now make advantage of the 4k as well as Ultra 4k technologies. In addition to this, they are necessary for the successful marketing and merchandising of retail stores. As a consequence of the aforementioned aspects, it is anticipated that the size of the point-of-sale display market in the Asia-Pacific region would expand throughout the course of the period covered by the projection.