The electronic cash register market share is expected to increase by USD 4.48 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 5.68%.

This electronic cash register market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers electronic cash register market segmentation by end-user (retail and hospitality), type (standard ECRs, checkout/POS system, and self-service POS), and geography (APAC, Europe, North America, South America, MEA). The electronic cash register market report also offers information on several market vendors, including Casio Computer Co. Ltd., Dell Technologies Inc., Forbes Technosys Ltd., Posiflex Technology Inc., Royal Consumer Information Products, Sharp Corp., SHIN HEUNG PRECISION Co. Ltd., Silicon Systech & Services Pvt. Ltd., TIM Spa, and Toshiba Corp. among others.

What will the Electronic Cash Register Market Size be During the Forecast Period?

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Electronic Cash Register Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The adoption of ecrs by smes is notably driving the electronic cash register market growth, although factors such as the growing e-commerce market may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the electronic cash register industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Electronic Cash Register Market Driver

The adoption of ECRs by SMEs is a major factor driving the global electronic cash register market share growth. The number of SMEs that are currently using ECRs is increasing at a rapid pace, which will help the ECR vendors to expand their customer base during the forecast period. Factors such as low cost and easy access have increased the penetration of ECRs in the end-user segments. Moreover, the growth of SMEs in the retail and hospitality sectors will increase the number of checkout terminals required to ease faster checkouts. The increase in the number of checkout terminals in the retail and hospitality environments will result in high demand for ECRs. Most of the MSMEs, especially in the unorganized sector, do not maintain accounts and or issue receipts to their customers. However, with ECRs terminals, their transactions and revenues would be recorded, which will make it nearly impossible for them to evade taxation. Therefore, the increase in the adoption of ECRs by SMEs is driving the market.   

Key Electronic Cash Register Market Trend

The shift toward cloud-based solutions is another factor supporting the global electronic cash register market share growth. During the forecast period, the demand for SaaS-based platforms in the cloud will increase among retailers. These solutions will enable retailers to store large volumes of data that can be accessed from anywhere across the world by authorized units. This is expected to enhance the connectivity and reduce the data transfer lags between merchants and acquirers during financial transactions at checkout terminals. Many vendors offer these cloud-based solutions to retailers, acquirers, and merchants in the restaurant and hospitality markets, which can host omnichannel payment solutions. Thus, with the increasing penetration of the Internet and the advanced network infrastructure in the retail segment, retailers have started increasing their reach and substantially along with the customer's shopping experience with the help of e-commerce and m-commerce. Essentially, the increase in the adoption of cloud-based services will positively impact the sales of cloud-based electronic cash registers during the forecast period. 

Key Electronic Cash Register Market Challenge

The growing e-commerce market will be a major challenge for the global electronic cash register market share growth during the forecast period. The growth in global e-commerce sales will be among the key challenges for the adoption of ECRs to support remote payments and bills. APAC is expected to be among the largest e-commerce markets, where sales are likely to increase during the forecast period. E-commerce platforms are easy to use and allow fast and safe transactions through Internet banking. Several large enterprises in the manufacturing, production, service, maintenance and government sectors rely on Internet banking. Therefore, vendors in the global cash register market cannot target the retail e-commerce sector. The global e-commerce market is witnessing high growth in developing countries, which will affect the adoption of cash registers. Consequently, customers do not find it necessary to use cash registers and rely on e-commerce and online shopping instead. This factor will continue to have a negative impact on the electronic cash register market, especially in developing countries.         

This electronic cash register market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global electronic cash register market as part of the global electronic equipment and instruments market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the electronic cash register market during the forecast period.

Who are the Major Electronic Cash Register Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Casio Computer Co. Ltd.
• Dell Technologies Inc.
• Forbes Technosys Ltd.
• Posiflex Technology Inc. 
• Royal Consumer Information Products
• Sharp Corp.
• SHIN HEUNG PRECISION Co. Ltd.
• Silicon Systech & Services Pvt. Ltd.
• TIM Spa
• Toshiba Corp.

This statistical study of the electronic cash register market encompasses successful business strategies deployed by the key vendors. The electronic cash register market is fragmented and the vendors are deploying growth strategies such as focusing on offering cloud-based solutions to retailers and merchants to compete in the market.

Product Insights and News

• Casio Computer Co. Ltd.- The company offers different types of electronic cash registers such as personal Cash Registers, mid-line cash registers, next-generation cash registers, and others.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The electronic cash register market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Electronic Cash Register Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the electronic cash register market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global electronic equipment and instruments market includes the following core components:

• Inputs
• Inbound logistics
• Operations
• Outbound logistics
• Marketing and sales
• Service
• Support activities
• Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Electronic Cash Register Market?

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59% of the market's growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for the electronic cash registers market in APAC. Market growth in this region will be faster than the growth of the market in all other regions.

The rapid growth of the retail sector will facilitate the electronic cash register market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of the COVID-19 pandemic in 2020 resulted in temporary lockdowns and social distancing measures in the region. This led to most of the people being confined to their homes and opting for online shopping. The online mode of shopping uses digital transaction systems and digital bills as a substitute for electronic cash registers. Emerging payment methods, such as mobile wallets and mobile card readers, are now used frequently by customers, which, in turn, declined the demand for electronic cash registers (ECRs) in the region. However, with the availability of COVID-19 vaccines, the pandemic is expected to subside by the end of 2021, which would be favorable for the regional economy.

What are the Revenue-generating End-User Segments in the Electronic Cash Register Market?

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The electronic cash register market share growth by the retail segment will be significant during the forecast period. The rising preference for fast and easy checkouts among consumers is compelling supermarkets to integrate ECRs, which will drive the electronic cash register market growth.

This report provides an accurate prediction of the contribution of all the segments to the growth of the electronic cash register market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Electronic Cash Register Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive electronic cash register market growth during the next five years
• Precise estimation of the electronic cash register market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the electronic cash register industry across APAC, Europe, North America, South America, MEA.
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of electronic cash register market vendors

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