payment machine mounting systems Market

The payment machine mounting system market was valued at US$ 260.19 million in 2019 and is projected to reach US$ 413.35 million by 2027; it is expected to grow at a CAGR of 6.5% from 2020 to 2027.

The increasing adoption of POS solutionsin the retail, healthcare, and hospitality sector is driving the deployment of payment machine mounting systems, such as adapters, cash drawers, and trays. Growth in the number of retail outlets, hospitals, pubs, and restaurants worldwide is one of the major factors driving the growth of the market for POS solutions and related products, such as mounting stands. The retail companies having online presence are putting additional efforts on expanding their footprint through physical stores. Also, changing lifestyle of individuals and eating habits has resulted in the increasing number of restaurants and pubs throughout the world. Moreover, increase in construction of hospitals worldwide is another aspect playing a greater role in boosting the penetration of POS solutions, as well as mounting systems. Moreover, the emerging economies of APAC and construction of retail stores and hospitals is projected to provide growth opportunities to the providers of payment machine mounting systems.

Based on type, the payment machine mounting system market is categorized into POS mount and others. In 2019, the POS mount segment dominated the payment machine mounting system market. These systems are developed to work with the user’s existing hardware. The POS mount are developed for monitors available with different sizes ranging from 7 to 12 inch and 23 to 39 inch. POS mount help protect the display while maximizing counter space. For example, the Modular Now is a highly configurable POS mounting system.

The payment machine mounting system markethas beensegmented into North America, Europe, AsiaPacific, South America, and the Middle East andAfrica. NorthAmerica held the largest share ofthe market in 2019, followed by Europe and Asia Pacific.The growth of the market in North America is mainly attributed to the rise in demand of card-based payment methods, with a constantly increasing number of hotels, bars, restaurants, retail stores, and hospitals in the region. The tablet POS and mobile POS are most widely used across retail stores in the US, and thus, the demand for POS stands is surging due to the fact that these POS systems require mounting stands. On the other hand, the hospitals, restaurants, and bars use terminal POS, which require drive extension arm payment stands. The increase in the adoption of these solutions is catalyzing the growth of the payment machine mounting system market.

Apollo Electronics Co., Ltd., Atdec Pty Ltd, Diwei Industrial Co., Ltd., ENS-CO, Ergonomic Solutions, HPC System, Innovative Office Products, LLC, Lumi Legend Corporation, MMF POS, Techpoleare amongthe major players in the global payment machine mounting systemmarket.

Impact of COVID-19 Pandemic on Payment Machine Mounting System Market

According to the World Health Organization (WHO) report, the US, Spain, Italy, France, Germany, the UK, Turkey, Iran, China, and Russia are among the worst-affected countries by the COVID-19 outbreak. The COVID-19 crisis is affecting the industries worldwide, and the global economy is anticipated to experience the worst hit in 2020 and 2021. The outbreak has created significant disruptions in primary industries such as consumer electronics, semiconductor, automotive, and IT infrastructure. All these industries are crucial for the growth of global payment machine mounting systems market as they generate a major demand for these systems. The factory shutdowns, travel bans, trade bans, and border lockdowns to combat and contain the outbreak have impacted both manufacturing and sales of various consumer electronic products and components. The global electronics and semiconductor industry is one of the major industries that is suffering serious disruptions due to interrupted supply chains and manufacturing shutdowns.

The overall global payment machine mounting system 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 market. The process also serves the purpose of obtaining overview and forecast for the pipe relining market with respects to all the segments. It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, the Middle East and Africa, and South America. 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 such a 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 payment machine