Report : Europe Payment Machine Mounting Systems Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Types (POS Mount (Fixed Payment Mount, Drive Extension Arm Payment Mount), Others); End Users (Retail Stores, Restaurant and Pubs, Hotels, Hospitals, Others), and Country
In terms of end users, others segment is anticipated to be the fastest growing segment Europe payment machine mounting systems market during 2020–2027
According to our new market research study on “Europe Payment Machine Mounting Systems Market to 2027 – Regional Analysis and Forecast by type, end user, and country,” the market is expected to reach US$ 87.07 million by 2027 from US$ 58.31 million in 2019; it is estimated to grow at a CAGR of 5.7% from 2020 to 2027. Growth in the number of retail outlets, hospitals, pubs and restaurants across the region is one of a major factor responsible for driving the growth 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 of individuals and eating habits has resulted into increasing number of restaurants and pubs throughout the world. Moreover, increase in construction of hospitals in the region is another aspect playing a greater role in boosting the penetration of POS solutions and so mounting systems. This is driving the payment machine mounting systems market.
The European countries are constantly striving hard to propel digitalization across industries. The governments are encouraging the end users or the industries to implement digitalized technologies in order to boost economic growth. The UK, Germany, France, Italy, and Spain are at the forefront of implementing digitalized technologies. In an attempt to promote digital technologies in Germany, the government has mandated the use of a technical security device (TSE) in 2019. According to the mandate, from 2020, every cash register system in Germany must have a TSE that stores all data for the tax office. In order to use TSE, a POS system is necessary, and owing to this, the demand for POS system as well as POS mounts is surging, which is catalyzing the payment machine monitoring market.
The European countries are financially balanced and capitalize on lump-sum amounts towards the adoption of newer technologies across industries. The healthcare industry, retail industry, and hospitality sectors encounter a significant number of customers annually, and this facilitates the industries to gain profit year on year. The continuously increasing profits enable the industry players to adopt robust technologies, including POS systems, in large volumes. This factor increases the demand for POS mounts in order to facilitate the customers with easy payment options. The rise in demand for POS systems in European countries generates substantial demand for POS mounts, which catalyzes the payment machine mounting system market.
Apollo Electronics Co., Ltd., ENS-CO, HPC Systems, Innovative Office Products LLC, are among the leading companies in the Europe payment machine mounting systems market. The market players present in the payment machine mounting systems market are mainly focusing on product enhancements by integrating advanced features and technologies. By signing partnerships, contracts, joint ventures, and inaugurating new offices across the world, companies are trying to increase their market share and brand presence.
The report segments the Europe payment machine mounting systems market as follows:
- POS Mounts
- Fixed Payment Mounts
- Drive Extension Arm Payment Mount
- Retail Stores
- Restaurants & Pubs
- Rest of Europe