Global Hospitality Pos Terminals Market to Reach Us$ 32.9 Bn by 2023: Credence Research

Global Hospitality POS Terminals Market to Reach US$

32.9 Bn by 2023: Credence Research

According to a new market report published by Credence Research, Inc. “Global Hospitality POS Terminals

Market (By Product Type (Fixed POS terminals and Mobile POS terminals), By Component (Hardware and

Software), and By Application (Restaurants, Lodging Establishments, and Others) - Growth, Share,

Opportunities, Competitive Analysis, and Forecast 2016 - 2023”, the global hospitality POS terminals

market is expected to witness a steady growth, expanding at a CAGR of 13.0% from 2016 to 2023.

Browse the Global Hospitality POS Terminals (By Product Type (Fixed POS terminals and Mobile POS

terminals), By Component (Hardware and Software), and By Application (Restaurants, Lodging

Establishments, and Others) Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast

2016 – 2023 report at http://www.credenceresearch.com/report/hospitality-pos-terminals-market

Market Insights

A Point of Sale terminal is an electronic system/device that accepts cashless payments from customers at

a point of purchase. The use of Point-of-Sale terminals has completely revolutionized the restaurant and

hospitality industry. The major impact is witnessed in fast food franchises, where the manager is able to

take order from the customer and send it wirelessly to the kitchen, thereby reducing the time taken to

process the order. Thus, use of POS terminals enable manager to speed-up the complete order taking

process and reduce time taken to serve, thereby improving the operational efficiency and customer

experience. Furthermore, the use of POS systems significantly reduces the total operating cost and

mistakes made due to human error, which, in turn has a significant impact on the overall profit margins

earned by restaurants. Profits earned in the hospitality industry are majorly driven by customer

experience. As such, offering excellent customer service not only in...