asia pacific payment machine mounting systems Market

The APAC 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 governments of several APAC countries are undertaking initiatives to boost digitalization in the respective country. These digitalization strategies in China, India, Australia, and other Southeast Asian countries are transforming the population's lifestyles. Several industries are incorporating digital technologies with support from respective governments. The sectors such as manufacturing, retail, healthcare, banking, and healthcare are among the leading sectors to implement digitalized technologies. POS systems are a well-known digitalized technology, and the demand for the same is at a constant rise among the industries. This factor has risen the demand for POS mounts, which is catalyzing the payment machine mounting systems market.

APAC countries are the fastest-growing economies in the world. The region has been experiencing unprecedented growth and advancements in technologies in recent decades. China and India are the Asian giants with a significant number of SMEs in sectors such as banking, retail, and healthcare, which are reforming international commerce and the global economy. The countries are experiencing substantial growth in the number of SMEs, which have the potential to drive respective countries as well as Asia's economy. These SMEs are continuously encouraging respective customers to use card-based payment in order to promote digitalization. This is increasing the awareness among the population, and thereby, the demand for card-based payment is strongly growing. This factor is uprising the development and procurement rate of POS systems, thereby demanding POS mounts, which is propelling the payment machine mounting systems market.

The use of tablets and iPads in resorts, restaurants, and hotels is generating the demand for protected stands. In addition, tablet POS and self-service kiosks are the major factors driving the use of POS solutions and drawing restaurateurs' attention, which will significantly boost the installation of payment machine mounting stands. With the increase in demand for POS solutions in hospitality sector in the APAC region, the demand for POS mounts is anticipated to surge through 2027, thereby catalysing the payment machine mounting systems market.

The ongoing COVID-19 is anticipated to cause huge disruptions in the growth of various industries of Asia Pacific region. For instance, China is the global hub for manufacturing different types of payment mounting stands and on top of its, it is one of the worst affected COVID-19 countries. The lockdown of various plants and factories in China is affecting the global supply chains and negatively impacting manufacturing, delivery schedules, and sales of various products and services. China has recently emerged from a 2-month containment phase and moved into the mitigation stage; however, the economy growth is still declining due to uncertainty around COVID 19 outbreak.

The overall APAC payment machine mounting systems market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the payment machine mounting systems market. The process also serves the purpose of obtaining overview and forecast for the payment machine mounting systems market with respects to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the APAC payment machine mounting systems market. Apollo Electronics Co. Ltd., Adtec Pty Ltd., Diwei Industries, and Lumi Legend Corporations, among others are among the key players serving the payment machine mounting systems market in APAC.