Dublin, Dec. 23, 2020 (GLOBE NEWSWIRE) -- The "Saudi Arabia POS Terminal Market (2020-2026): Market Forecast by Technology, by Types, by Applications, by Regions, and Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Saudi Arabia POS Terminal Market is projected toat a CAGR of 7.7% during 2020-2026.
Saudi Arabia POS terminal market is expected to register considerable growth principally due to the increasing adoption of card transactions and technological advancement in the country. An increase in the number of pilgrims and tourists is also acting as a growth driver of the POS terminal market in Saudi Arabia.
Based on the data provided by the Saudi Arabian Monetary Authority (SAMA), the number of POS transactions has shown a growth rate of approximately 30% from the year 2019 to Q2 2020. Additionally, several players are perusing partnerships and acquisitions to gain market share and enhance their customer base in Saudi Arabia. For instance, Gidea, one of the providers of payment systems has partnered with Linga in January 2020.
The partnership will strengthen the payment terminal platform in the country and enhance the customer base. Further government initiatives such as Saudi Financial Sector Development Program which aims at promoting cashless transactions would also spur the demand for Saudi Arabia POS terminal market over the coming years.
Saudi Arabia POS terminal market witnessed a slowdown in the beginning of 2020 due to the outbreak of the Covid-19 pandemic as all the economic activities were stopped and there was a nationwide lockdown. However, as the economy is returning to normalcy, a sudden rise in POS transactions is seen as people are preferring contactless transactions due to the fear of the spread of disease.
In terms of technology and type, the portable and mobile POS terminals are registering significant growth in Saudi Arabia market respectively. Additionally, the retail sector is dominating the market, with the hospitality and healthcare applications expected to witness healthy growth in the market due to increased spending on healthcare and traveling services by tourists in the country
The report comprehensively covers Saudi Arabia point-of-sale terminal market by technology, by types, by applications and by regions. The report provides an unbiased and detailed analysis of the point-of-sale terminal market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Others (Transportation, Public Infrastructure, etc.)
Key Topics Covered:
1. Executive Summary
3. Saudi Arabia Point-of-Sale Terminal Market Overview
4. Saudi Arabia Point-of-Sale Terminal Market Dynamics
5. Saudi Arabia Point-of-Sale Terminal Market Evolution
6. Saudi Arabia Point-of-Sale Terminal Market Overview, By Technology
7. Saudi Arabia Point-of-Sale Terminal Market Overview, By Types
8. Saudi Arabia Point-of-Sale Terminal Market Overview, By Applications
9. Saudi Arabia Point-of-Sale Terminal Market Overview, By Regions
10. Saudi Arabia Point-of-Sale Terminal Market Key Performance Indicators
11. Saudi Arabia Point-of-Sale Terminal Market Opportunity Assessment
12. Saudi Arabia Point-of-Sale Terminal Market Competitive Landscape
13. Company Profiles
Cisco Systems, Inc.
NEC Saudi Arabia Ltd.
Panasonic Marketing Middle East & Africa FZE
PAX Global Technology Limited
Samsung Electronics Co. Ltd.
Toshiba Gulf FZE
VeriFone Systems, Inc.
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