Electronic Cash Register Market to Rear Excessive Growth During 2017-2023

Market Insights

The global electronic cash register market perceives a rapid upsurge. Electronic Cash Register (ECR) refers to a system/device used for scanning packages to read and register the total calculated saleable price of the good. It can also scan and keep records of sales and inventories, serving as a long-term approach to deploy mobility. The emergence of the ECR system has brought about the convenience of systematic, congestion-free shopping experience while reducing the overall time.

Therefore, the market witnesses massive uptake and demand for ECR systems. According to Market Research Future (MRFR), the global electronic cash register market is poised to create a valuation of 8 BN by 2023, growing at 11% CAGR during the review period (2017-2023). Spurting growth in retail and hospitality industries creates substantial market demand. Also, increasing focus on developing commercial ECR devices and various services substantiate the development of the market.

Additionally, the increasing demand for mobile applications and the growing popularity of e-commerce drive market growth. Rising trend of online shopping increases sales in the global electronic cash register market. Furthermore, raising awareness for the benefits of ECRs, such as tracking customer transactions, recording sales, and calculating bills with sales tax, service tax, and VAT, boost market growth.

The growing use of NFC enabled mobile devices for contactless payments is another major factor boosting the market growth. Moreover, increasing technology development centers and infrastructure influence market growth, allowing faster implementation of advanced technologies.

Furthermore, the burgeoning banking sector pushes the growth of the market. High adoption of contactless payments is a key growth driver for market growth. Increasing use of credit card and debit card payments has been substantiating the demand for ECRs. Also, the rising technological enhancements and the increasing popularity of GPRS and server-cloud enabled electronic cash registers impact the market growth positively.

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COVID-19 Analysis

Most of the electronic cash register (ECR) manufacturers are dependent on China; however, the imports can get severely disrupted with the manufacturing activities coming to a halt following the COVID-19 outbreak. The novel coronavirus has managed to dismantle the entire manufacturing sector after the imposition of the lockdown, and the finance sector can also be note disrupted growth, given the shortage of electronic cash registers at retail outlets and others.

Many of the market companies are mostly concerned about one thing, the stability of the supply chain across the globe. While companies are safe with their inventories proving to be sufficient as of now, but they might have to start ordering traditional electronic cash registers from countries where SARS-CoV-2 is not that pronounced. Even as the pandemic is leading to massive destruction of various electronic cash register market size in the semiconductor industry, electronic cash registers can observe sustained growth owing to the rising need for essential items post lockdown imposition and the escalating surge in the retail industry.

Electronic Cash Register (ECR) Market – Segments

The report is segmented into four dynamics;

By Type: Stationary and Portable.

By Product: Standard ECRs, Checkout/POS Systems, Personal ECRs, Mobile POS Systems, and others.

By End-User: Retail, Hospitality, and others.

By Regions:  Americas, Europe, APAC, and Rest-of-the-World.

Regional Analysis

According to the global Electronic Cash Register Market report, the market covers top continents such as North America, Europe, Asia Pacific, and the rest of the world.

The North American region is estimated to be the largest shareholder of the market. In the global market, there are top countries with high income like the US, Canada, Mexico, UK, Germany, Italy, France, etc.

Due to the latest improvements and developments in the retail sector and supermarket chain, Asia Pacific countries like China, India, Japan are receiving their highest rate of market share. In the future years, the Asia Pacific region will be the fastest-growing market globally. 

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Global Electronic Cash Register Market – Competitive Landscape

Highly competitive, the global ECR market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, mergers & acquisitions, collaboration, brand reinforcement, and innovation remain key industry players’ key trends. Players make a substantial investment in research and development of innovative technologies and to upgrade their product portfolio.

Major Players:

Players leading the global ECR market include Foxconn Technologies (China), Toshiba Corporation (Japan), Casio Computer Co., Ltd. (Japan), Olivetti S.p.A. (Italy), Dell, Inc. (US), Citaq Co. Ltd. (Germany), Hewlett-Packard (US), Fujitsu Ltd. (Japan), Forbes Technosys (India), and Posiflex Technology Pvt. Ltd. (Taiwan), among others.

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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 2027

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Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR’s methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.

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