A point-of-sale display is a specialized form of sales promotion that’s located near checkout counters. It is the most operative approach for promoting convenience goods. Displays at point-of-sale are designed to capture consumers’ attention and encourage impulse purchases. The point-of-sale display helps consumers realize they might need that particular item to solve a problem by providing them a visual exposure to the products. As a result, consumers are drawn to point-of-sale displays.
Increasing disposable income of consumers and changing lifestyle of the millennial population is majorly spurring the growth of the global point-of-sale display market. The millennial population poses a huge impact on the retail sector and thereby propels the adoption of digitally advanced technology and provides the growth of the POS display in the end-user industry. The growing adoption of advanced technologies such as digitization and other initiatives by key players to provide exceptional customer experience is also contributing to the growth of the global market. Additionally, the emergence of mobile point of sale has helped small business owners to boost POS sales and transactions.
Also, the COVID-19 pandemic has propelled retailers to adopt cost-saving measures such as POS terminals which will further increase market growth in retail stores. Further, suppliers of point-of-sale display markets are adopting regional procurement models to reduce associated carrying costs, reduce lead time and shorten the supply chains through procuring raw materials locally which in turn is escalating the growth of the market. Furthermore, rapid technological advancement in point-of-sale display machines and rising adoption of POS display as a mode of the market is creating new growth opportunities for the market growth in the forecast period. For instance, POS displays are now capable of configuring with 4k and ultra 4k technologies. However, the point-of-sale display system is internet-based and it limits access during the poor network. In addition, the high cost associated with software-based POS display systems is expected to restrain the market growth.
The global point-of-sale display market is divided based on type, application, and region. Based on the type, the global market is split into countertop displays, freestanding displays, flour displays, and others. The application segment of the point-of-sale display consists of community, events, restaurants, construction, companies, banks, auto dealers, retailers, and others.
North America region is predicted to dominate the global point-of-sale display market during the forecast period. Factors such as the integration of advanced and innovative marketing strategies by leading players for the point-of-sale display along with increasing demand are driving the growth of the market in this region. Further, increasing adoption of the point-of-sale display by small and medium scale industries is likely to propel the growth of the regional market. Asia Pacific region is expected to be the second-largest region in the market and is anticipated to account for a significant share over the forecast period. This is attributed to increasing investment by prominent players for marketing and promotional activities.
Samsung Electronics, Crystal Display Systems, Baanto International Ltd., Exceptional 3D Inc., innerworkings, Inc., Panasonic Corporation, BOE Technology Group Co., Ltd., Simpson Group, HH Global, Packaging Corporation of America, and Toshiba Corporation are some of the major players that are operating in the global point-of-sale display market.
In 2017, Samsung Electronics and NCR have announced the introduction of NCR Silver Quantum. It is an all-in-one point-of-sale (POS) station that offers an integrated payment device that comes equipped along with mobile wallet acceptance capability.
