Electronic Cash Register Market: by Type (Stationary, Portable), Product (Standard ECRs, Checkout or POS Systems, Personal ECRs, Mobile POS Systems), End User (Retail, Hospitality) – Forecast till 2030
ID: MRFR/SEM/3287-HCR | 100 Pages | Author: Aarti Dhapte | June 2023
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Electronic Cash Register Market
The global Electronic Cash Register Market is moving forward with a CAGR of 13.50% for the forecast period of 2022-2030.
$16.4 Billion
13.50%
North America
2022-2030
Electronic Cash Register Market Research Overview (MRFR Insights)
The Electronic Cash Register Market is estimated to obtain a value of USD 16.4 Billion by 2030. The market will successfully reach a CAGR of 13.50% during the forecast period between 2022 to 2030.
The rising demand in the retail sector for a developed cash register is driving the Electronic Cash Register Market growth. The business professionals demand a protective and secured register for their daily cash flow. The enterprise’s investment in safe and secure cash registers drives the market. The electronic cash register industry is showing potential growth due to the trending growth opportunities due to the integration of new advancements. The rise in the development of supermall and market chains with smart technologies in the developed and developing countries is a significant factor boosting up the market.
The rise in focus on proper monitoring and tracking devices for consumer transactions results in market expansion. The growth of e-commerce platforms and online transactions are primary growth factors of the Electronic Cash Register Market. The popularity of cloud services brings up new growth opportunities for the market. Innovation based on technologies like the internet of things (IoT) and cloud computing technology sets enormous opportunities for the market’s development.
COVID-19 Analysis:
Since the COVID-19 pandemic has emerged as a primary threat to the human race, it has impacted all parts of the global market. The infectious disease has presented a global crisis before people assembling and gathering in the workplace. Especially, in the retail market and counter sales industry, the impact of COVID-19 had been massive. In several countries of the world, there was a lockdown for months due to the Government's instructions of social distancing. These practices have dramatically reduced the number of the workforce, consumers, retailers, and manufacturers from the market. The electronic cash register market has faced severe hits due to this crisis period. Due to lockdowns, the majority of the consumers are trusting online delivery services. Which is predominantly a cashless transfer method. Also, many brands and corporations are rooting for cashless transactions to avoid surface contact during marketing and shopping. So, the impacts of the COVID-19 have been negatory on the cash register industry as a whole. Although, after the lockdowns are over, the markets have started to revive. In that context, it can be expected that the electronic cash register market share will expand with the progression of time also.
Electronic Cash Register Market Dynamics:
Market Key Drivers:
The efficiency and security of using an electronic cash register are some of the primary drivers for the market. In the busy retail industry, it is challenging to manually calculate and control the cash collection, roll out, taxes from the directory. The software system on the electronic cash register makes it fairly easy to input the details fast and effectively. The system also stores the monthly data in an organized and efficient way, which makes working on the monthly taxes very fast and smooth. These efficiency factors are one of the major drivers of the cash register machines market. It is noteworthy that most of the modern cash registers offer multi-layered password protection. This makes the system safe and secure. Since all data stored in the devices are digital, it is much more efficient to catch theft, forgery, or fraud from the cash counter. The electronic cash register offers clarity on regular business dealings. This factor attracts a lot in consumers electronics. Transparency in business deals is a major quality of efficient devices. So, that is a market driver for the electronic cash register market too.
Market Key Opportunities:
The constant innovation in the technological front represents a lot of opportunity in front of several industries. In the case of electronic registers, the advancements in the internet of things (IoT) and cloud computing technology have invited great scopes for the market. Cloud technology allows instant backup and records of end-to-end data in cloud storage. This facility makes the cash registry system more transparent and efficient. The chances of losing data reduce in the cloud system.The electronic cash register billing machines are going to observe great possibilities due to the increase in sales via the eCommerce industry in certain industries. Especially in the third-party logistics, warehouses, and branded showrooms will invite a lot of requirements of these electronic cash registers. In the case of the food and beverages delivery, there is a dominance of cash-payment because of the convenience. Ecommerce markets will provide that demand for cash registers in food delivery chains as well.
Market Key Restraints:
One of the major restraints in the electronic cash register market growth is the unavailability of trained staff who can effectively operate the devices. The operations of these devices are not rocket science, yet it can be challenging for the group of employees who are technologically challenged. A lot of staff in a third-world countries and developing nations, do not have regular access to computers and similar devices. For that massive workforce, these devices impose an added burden to learn the processes via training. Conducting additional training can be a waste of service hours and resources.Also, there is no absolute standardized method to use the devices. The operational functions vary from each other based on the model, brand, and variants. This factor proposes another unnecessary complication for the end-users.
Market Key Challenges:
The goodness of technology is a challenge of the present times too. Advancements in the existing devices may require a total exchange, up-gradation, etc. These costly reprocessing or renovations in the system are a challenge for the end-user in the SME groups. These factors have an adverse reaction to the electronic cash register market demands. The SME industry constitutes a major consumer base for the market. It is counterintuitive to promote expensive system up-gradation for a given market.Also, recent trends show that mishandling of these devices can cause severe loss and damages. At any point, if the software of the computer becomes dysfunctional, all the recorded information goes away. Electronic manipulation and hacking of the system are also a serious probable threat to the current market. It is also important that the electronic cash register market focuses on the issue of affordability when determining the challenges for the market.
Cumulative Growth Analysis:
Several market challenges and threats could not stop the industry to move forward. The global market is growing at a CAGR of 13.50% for the forecast period of 2022 to 2030. The electronic cash register market forecast suggests that the net valuation of the market will reach USD 16.4 Billion by the end of 2030. This growth is majorly credited to SME end-users around the world. The retail markets of the small and medium enterprises are the largest shareholders of the grand market size.
Value Chain Analysis:
Like every industry, the market is heavily reliant on the distribution channel of the products. The global electronic cash register market size depends on the various chains of marketing that the manufacturers employ. Based on the current trends, the electronic registers reach the end-users via retail marketing, branded showrooms, and online stores. The global market depends on business entities of all kinds in the global market. From big chains of a global brand to countless small regional stores, are potential end-users of the electronic cash register market. So, the products must reach the end-users properly.
Electronic Cash Register Market Segment Overview:
Multiple market parameters divide the electronic cash register market size into various segments. The segments are classified based on type, product, end-users, regions, etc. There are multiple subsegments based on the segments in the market.
Based on The Type Outlook (Revenue, USD Billion, 2022-2030):
- Stationary
- Portable
- Other
Based on Product Outlook (Revenue, USD Billion, 2022-2030):
- Standard electronic cash registers
- Checkouts
- POS system
- Personal electronic cash registers
- Mobile POS systems
- Others
Based on End-User Outlook (Revenue, USD Billion, 2022-2030):
- Retail
- Hospitality
- Others
Based on Application Outlook (Revenue, USD Billion, 2022-2030):
- Oil and gas
- Refining
- Power generation
- Chemical
- Others
Based on Region Outlook (Revenue, USD Billion, 2022-2030):
- North America (US, Canada, Mexico)
- Europe (Germany, UK, France, Spain, etc)
- Asia Pacific (China, India, Japan, etc)
Regional Insights
The North American market is the largest shareholder of the global electronic cash register market size. There is the dominance of high-income countries like the US, Canada, Mexico, UK, Germany, Italy, France, etc, in the global market. Due to the latest improvements and expansions in the retail and supermarket chain, APAC countries like China, India, Japan, are gaining their market share fast. In the coming years, the APAC region will be the fastest-growing market in the world.
Electronic Cash Register Market Competitive Landscape:
The major key players in the market are:
- Toshiba Corporation (Japan)
- Casio Computer Co (Japan)
- Dell Inc (US)
- Hewlett Packard (US)
- Forbes Technosys (India)
- Olivetti S.P.A (Italy)
- Citaq Co Ltd (Germany)
- Fujitsu Ltd (Japan)
- Posiflex Technology Pvt. Ltd (Taiwan)
Industry Developments:
April 2022
Nium, a global platform for the modern money movement, has announced an agreement to acquire Socash, a Singapore-based alternative payments platform. Socash combines financial institutions and digital commerce merchants into a blooming network. It allows the consumers to withdraw, deposit, and make payments with cash to more than 30,000 local grocery stores, shops, and cafes.
December 2021
The Brink’s Company, a global leader in total cash management, payment solutions, and route-based secure logistics, has relieved the launch of a new product brand, BLUbeem, by Brink’s. BLUbeem. It is a digital cash payment solution for processing cash fast and efficiently. It is similar to credit, debit, and other digital payment methods.
Electronic Cash Register Market Report Insights:
The electronic cash register market report offers the latest insights on the ECR industry traits, drivers, challenges, trends, etc.
Electronic Cash Register Market Report Period:
- Historic: 2019
- Base: 2020
- Forecast: 2021-2030
Electronic Cash Register Market Report Demography:
- North America
- Europe
- APAC
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size | USD 16.4 Billion |
| CAGR | 13.50% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Product, End-Use, Application |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | Toshiba Corporation (Japan), Casio Computer Co (Japan), Dell Inc (US), Hewlett Packard (US), Forbes Technosys (India), Olivetti S.P.A (Italy), Citaq Co Ltd (Germany), Fujitsu Ltd (Japan), Posiflex Technology Pvt. Ltd (Taiwan) |
| Key Market Opportunities | Ecommerce markets will provide that demand for cash registers in food delivery chains as well |
| Key Market Drivers |
|
Frequently Asked Questions (FAQ) :
The global electronic cash register market is expected to reach a value of USD 16.4 Billion by 2030.
The global electronic cash register market can display a CAGR of 13.50% from 2022 to 2030.
Establishment of ecommerce stores can drive the global electronic cash register market.
North America can dominate the global electronic cash register market till 2030.
Posiflex Technology Pvt. Ltd., Forbes Technosys, Citaq Co. Ltd., Foxconn Technologies, Dell, Inc., Toshiba Corporation, Olivetti S.p.A., Fujitsu Ltd., Casio Computer Co., Ltd., and Hewlett-Packard are key players of the global electronic cash register market.
Key Questions Answered
- ✅ Global Market Outlook
- ✅ In-depth analysis of global and regional trends
- ✅ Analyze and identify the major players in the market, their market share, key developments, etc.
- ✅ To understand the capability of the major players based on products offered, financials, and strategies.
- ✅ Identify disrupting products, companies, and trends.
- ✅ To identify opportunities in the market.
- ✅ Analyze the key challenges in the market.
- ✅ Analyze the regional penetration of players, products, and services in the market.
- ✅ Comparison of major players’ financial performance.
- ✅ Evaluate strategies adopted by major players.
- ✅ Recommendations
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