Injection Molded Plastic Market Analysis, Outlook by 2020 - Trends, Opportunities and Forecast to 2026

The report “Injection Molded Plastic Market Size By Raw Material (Polystyrene, Polypropylene, Acrylonitrile-butadiene-styrene (ABS), High density polyethylene (HDPE), Others); By End-User (Automotive, Construction, Packaging, Healthcare, Consumer Goods, Others); By Region, Segments & Forecast, 2017 – 2026” provides an extensive analysis of present market dynamics and predicted future trends.

The global injection molded plastic market is expected to reach more than USD 396.1 billion by 2026 with a CAGR of 6% during the forecast period as per a new study released by Polaris Market Research. In 2017, During the forecast period, Asia-Pacific is expected to lead injection molded plastic market.

The tremendous growth in industries such as healthcare, packaging, automotive, construction and consumer goods have contributed in the growth for injection molded plastic market. The other driving factors such as lower labor cost, reduced wastage, material flexibility, introduction of lower labor cost have also contributed in the growth of the market. How-ever the factors such as concerns regarding environmental pollution, increase in demand for bio-based polymers are expected to restrict the growth of the market. Increase in demand from developing nations, technology advancement are expected to provide future opportunities to the injection molded plastic companies.

 

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Injection molded plastic is used in many applications in automotive industry. It is used for manufacturing automotive interiors, exteriors, under hood applications, fueling framework, etc. Injection molded plastics are cost effective and hence used in almost all manufacturing automotive parts. Presently, it is also used as substitute for the metals, which offers lighter weight, provides rust resistance and reduce wear and tear in automotive parts.

 

Asia Pacific has the largest share in injection molded plastic market. It is also expected to lead the market through the forecasted period. In Asia-Pacific there are many emerging industries for healthcare, construction, packaging etc. There are many research and development activities carried in this market. The government has also amended favorable policies to accelerate the growth of the market. Rapid industrialization and growth of manufacturing industry further support market growth in the region. The other end-users applications for injection molded plastic are automotive, construction, packaging, healthcare, consumer goods, and others.

 

The top companies for injection molded plastics are: E. I. DuPont De Nemours and Company, China National Petroleum Corporation, Huntsman Corporation, BASF SE, , LyondellBasell, Berry Plastics Group, Eastman Chemicals, , SABIC, INEOS Group, the Dow Chemical Company, Exxon Mobil Corp and many others. The companies are continuously working on new product launches and are collaborating with other companies to increase the production and cater the growing need for injection molded plastic.

 

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Polaris Market Research has segmented the global injection molded plastic market on the basis of raw material, end-user, and region:

 

Injection Molded Plastic Raw Material Outlook (Market Revenue in USD Billion, 2015 – 2026)

Polystyrene
Polypropylene
Acrylonitrile-butadiene-styrene (ABS)
High density polyethylene (HDPE)
Others

Injection Molded Plastic End-user Outlook (Market Revenue in USD Billion, 2015 – 2026)

Automotive
Construction
Packaging
Healthcare
Consumer Goods
Others

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Immuno Oncology (I-O) Market by Types and Application, Operating Business Segments 2025

The report “Immuno Oncology (I-O) Market Size, Trends, Industry Analysis By Treatment Approaches (Monoclonal Antibodies, Therapeutic Vaccines, Checkpoint Inhibitors, and Cytokines); By Novel Targets (IDO1i, LAG-3 CPI, oncolytic virus, STING agonist, TLR agonist, HDACi, TIL, VEGFi, MEKi, TIGIT, CPI, GITR agonist, TGF-b trap, and A2AR antagonist/CD73i); By Tumor Types; By Region: Market Size & Forecast, 2020 – 2026” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

The global immuno-oncology market size is expected to reach USD 38.89 billion by 2025 according to a new study by Polaris Market Research. 

 

Immuno-oncology, also called as cancer immunotherapy is a biologic treatment, which enhances the body’s natural defenses to stop the growth of cancer. This therapy uses constituents made by the body or in a research laboratory to improve or reestablish the immune system function.

 

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Some of the key players operating in global immuno-oncology market are Bristol Myers Squibb, Merck, AstraZeneca, Roche Holding AG, Pfizer Inc., and Incyte Corporation among others.

 

Immuno-oncology represents an innovative approach to cancer research that seeks to harness the body’s own immune system to fight tumor cells. Currently, world is at the forefront of this science with several compounds in development that are being investigated for use in a variety of cancers, as well as an approved immuno-oncology medicine that continues to be studied for new uses. The more precise targeting of patients for selected therapies is another important area of focus in oncology. Clinical biomarkers and pharmacogenomic studies are increasingly used to identify groups and sub-groups of patients most likely to benefit from an investigational agent in order to maximize its potential benefits.

 

The global immuno-oncology market is driven by the factors such as rising occurrence of different forms of cancer, technological advancements in the field of immune oncology for cancer treatment, and rising awareness concerning the benefits of ablation procedures over conventional treatment procedures. Moreover, rising number of ablation centers, surgical centers, and hospitals are driving the growth of tumor ablation market globally. Additionally, the developments in oncology treatments, leading to the increased development of pioneering products are also advancing towards significant growth of the global Immune Oncology market.

 

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The increasing trend was also seen in the research in the novel agents and increase in the number of clinical trials in combinations as well as monotherapy. The most notable new agents in Immuno-Oncology are IDO’s, LAG-3, TIGIT, TIM-3, VISTA, KIR, NKG2A, B7-H3/H4. The Report has also emphasized on the Oncolytic viruses, Neo-Antigen therapies, TCR Therapies and CAR-T therapies.

 

On the basis of treatment type, the global immuno-oncology market is segmented into Monoclonal Antibodies, Therapeutic Vaccines, Checkpoint Inhibitors, and Cytokines. Checkpoint inhibitors were the largest treatment process segment in 2019 that accounted for 55.2% of the overall revenue. On the basis of novel targets, the global market is segmented into IDO1i, LAG-3 CPI, oncolytic virus, STING agonist, TLR agonist, HDACi, TIL, VEGFi, MEKi, TIGIT, CPI, GITR agonist, TGF-b trap, and A2AR antagonist/CD73i. VEGFi was the largest novel target segment that was used for immuno-oncology treatment processes in 2019 with a total market share of 11.2%. on the basis of cancer type, the global immuno-oncology Market is segmented into Melanoma, Non-Small Cell Lung Cancer, Renal Cell Carcinoma, Head, face & Neck Cancer, Bladder Cancer, Classical Hodgkin’s Lymphoma, Merkel Cell, and carcinoma. Revenue share of immuno-oncology treatment for classical hodgkin’s lymphoma was the largest in 2019 i.e. 15.31% among the listed tumor types in the report.

 

On the basis of geography, North America was the largest regional market in 2019. High levels of spending on cancer treatments, also U.S. being one of the major country y with a huge population of cancer affected people on a global scale, the country being the host to the development of this technology, higher frequency of innovations of immuno oncology treatments or processes in the region specially in the U.S. etc., all of these factors have driven significant investment and alongside the demand for IO in the region. These factors have driven the North American market since the inception of this technology and over the forecast period it is expected to increase further.

 

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Smart Locks Market Application, Revenue Status, Leading Player, Demand, Growth, Future Opportunity & 2026 Forecast

According to a new report published by Polaris Market Research the global smart locks market is anticipated to reach USD 6.1 billion by 2026. Increasing adoption of smart homes in both developed and developing economies and growing need for more secured locking mechanism, has pushed the market for smart locks. There has been a significant growth in the adoption of smartphones and other handheld devices which act as an interface to control these locks. Smart locks allow its users to connect through smart phones, with the help of advance connectivity technology such as Near Field Communication (NFC), Bluetooth, ZigBee/Z-Wave. There is also a considerable increase in the compact IoT gadgets or connected gadgets adoption. All these factors are foreseen to drive the market over the forecast period.

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Deadbolts are estimated to have a large market share followed by padlocks and lever handles. The growth for these products is anticipated to continue owing to different advance features such as touch screens, usage of biometrics, and remote access of these locks using smartphones. Major companies are constantly investing in the R&D capabilities for smart locks, thus enabling them to integrate new features and technological advancements. This is helping them to increase the adoption of smart locks in the market.

The adoption of smart locks is largely seen in the home and residential segment due to growing smart homes across the globe. Increasing awareness about technology and increased spending capacity of the individuals are another factors which are driving the market growth in this segment. Adoption is also largely seen in the hospitality vertical.

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Hotels and resorts have multiple rooms which requires limited and restricted access to the authorized persons and guests. Smart locks can be configured according to these requirements, thus allowing secured stay for the hotel customers. The access can be controlled remotely by the hotel staff and the locks with password can be reconfigured every time for the new guest, thus increasing safety and security. Enterprises and government organizations on the other hand are expected to have large market share after home and hospitality segment.

Key Findings from the study suggest products accessible in the market are much competitive and manufacturers are progressively concentrating on advancements to pick up an aggressive edge. Companies are in a stage of development of new items in order to guarantee simple implementation and connection with the current mechanical door locks. The hospitality segment is anticipated to grow at a high growth rate over the forecast period with the expanding utilization of smart locks inferable from expanding security-related worries among clients amid their stay at the hotels. North America is presumed to dominate the global smart locks market over the forecast years and Asia Pacific region shows signs of high growth owing to the booming economies of India, and China.

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POS Terminals Market Drivers, Strategies, Segmentation Application With Top Key Players

The global POS terminals market is estimated to be worth $169.4 billion by 2026, and is expected to grow at a CAGR of 12.4%, according to a new research report published by Polaris Market Research.

Various types of point-of-sale (POS) terminals are used as reliable alternatives to the traditional cash registries at businesses where checkouts and payments are handled. POS terminals provide merchants with multiple capabilities such as secure digital payments, faster checkout process, sales tracking, inventory monitoring, etc. Also, these systems are ready to use (plug and play) having pre-installed software, thus eliminating technician/installation overheads. This particularly encourages small and medium sized businesses/merchants to adopt POS terminals as it offers ease of usage and increased efficiency. With technological advancements the POS hardware come with accommodations for multiple payment types including e-wallets, cards enabling payment flexibility for merchants and customers alike. These features have increased the popularity of POS terminal among businesses and is expected to drive further market growth.

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North American regional market is observed to be the largest segment across the different geographies covered in the report. This dominating position of this region is mainly attributed to the widespread adoption of POS terminals across multiple industries such as retail, entertainment, healthcare, and hospitality. Demand from these sectors is majorly observed due to significant growth in organized retail sector, tourism, restaurants in this region. Asia Pacific Point of Sale terminals market is expected to record significant growth due to increased adoption of POS terminals in various countries in this region. The growth is further aided by government initiatives in developing economies such as India towards transformation of the economy from being cash dominant to becoming a digitized cashless economy.

Due to presence of considerable amount of companies providing POS solutions, the POS terminals market is observed to be competitively fragmented. This market report on POS terminals provides analysis of multiple POS solution providers including Aures Technologies, First Data Corporation, HP Development Company, L.P., Ingenico Group, MICROS Retail Systems, Inc., NEC Corporation, Panasonic Corporation, PAX Technology Limited, Samsung Electronics Co., Ltd., Square, Inc., and Verifone among others. The competitive landscape section in the reports provides key developments the major companies are involved in this space, for instance during April 2018 Samsung and PayPal officially launched their partnership service enabling consumers the usage of PayPal within Samsung Pay.

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Polymer Gel Market Share and Demand-Analysis of Key Players- Research Forecasts to 2026

The new report “Polymer Gel Market was valued at USD 5,244 million in 2017 and is Size Worth USD 8,836 Million By 2026; and is anticipated to grow at a CAGR of 6.1% during the forecast period. according to a new market research report by Polaris market research.

The Global Polymer Gel Market In 2017, the personal care segment dominated the global market, in terms of revenue. In 2017, Asia-Pacific accounted for the majority share in the global polymer gel market [By Material Type (Natural, Synthetic, Hybrid); By Composition (Polyacrylamide, Polyacrylate, Silicone modified hydrogels (Si-H), Others); By Application (Personal Care, Agriculture, Construction, Healthcare, Others); By Region]: Market Size & Forecast, 2017 – 2026” 

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The use of polymer gel in wide applications such as personal care, healthcare, agriculture, pharmaceutical, and construction among others majorly drives the growth of this market. Growing awareness regarding personal care and increasing disposable income, especially in developing regions boost the growth of the. The consumers are increasingly using products such as contact lenses, cosmetics, and personal care products, thereby augmenting the growth of polymer gel market. Technological advancements and increasing applications in pharmaceuticals and healthcare sectors would provide growth opportunities in the future. New emerging markets, emerging consumer demographics, and technological advancements would provide growth opportunities for polymer gel market in the coming years.

Asia-pacific is expected to lead the global polymer gel market during the forecast period. A significant rise in the infant and geriatric population has been registered over the past few years, boosting the growth of polymer gel market. Increasing awareness personal care and hygiene, and rising disposable incomes in developing countries of this region augment the market growth in the region. Increasing application of polymer gel in healthcare and pharmaceutical also supports growth in this region. Use of polymer gel in agriculture, construction, and waste treatment further increases the demand of polymer gel in Asia-Pacific. Polymer gels are increasingly being used in manufacturing robotic actuators and artificial muscles. The increasing need of automation in manufacturing and other industries in the region drive the growth of robotics, thereby strengthening the market of polymer gel. Leading global players are expanding their presence in developing nations of China, Japan, India, Indonesia, and Malaysia to tap the growth opportunities offered by these countries.

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The personal care segment is expected to lead the market during the forecast period owing to wide applications in the industry. Polymer gel is used in diapers and female hygiene products owing to their high absorbing properties. Polymer gel is also used in cosmetics and contact lenses. Increasing   disposable income and rising awareness regarding personal hygiene boosts the growth of the market.

The well-known companies profiled in the report include LG Chemicals Ltd., Chemtex Specialty Limited, BASF Corporation, Evonik Industries, FIMA Group Ltd, Nippon Shokubai Co., Ltd., SDP Global Co., Ltd., Sumitomo Seika Chemicals Co., Ltd, Ma’s Group Inc., and Dow Chemicals among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

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Key Segments:

Polymer Gel Market Size and Forecast, 2017-2026 by Material Type

• Key Findings
• Natural
• Synthetic
• Hybrid

Polymer Gel Market Size and Forecast, 2017-2026 by Composition

• Key Findings
• Polyacrylamide
• Polyacrylate
• Silicone modified hydrogels (Si-H)
• Others

Polymer Gel Market Size and Forecast, 2017-2026 by Application

• Key Findings
• Personal Care
• Agriculture
• Construction
• Healthcare
• Others

Polymer Gel Market Size and Forecast, 2017-2026 by Region

• North America [U.S., Canada]
• Europe [Germany, UK, France, Italy, Spain, Belgium, Netherlands, Rest of Europe]
• Asia-Pacific [China, India, Japan, South Korea, Singapore, Malaysia, Rest of Asia-Pacific]
• Latin America [ Brazil, Mexico, Argentina, Rest of Latin America]
• Middle East and Africa [Israel, South Africa, Saudi Arabia, UAE, Rest of MEA]

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Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world

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Self Healing Materials Market Growth,In-Depth Analysis And Opportunities Till 2026

The worldwide market for self-healing materials is anticipated to reach USD 8.23 billion by 2026 and is estimated to grow at a CAGR of 59.0% between 2018 and 2026. Self-healing materials are artificially developed substances that are capable of restoring and repairing their functionality automatically without the requirement of any external or human intervention. These materials have the inbuilt capacity to substantially recover their load transferring ability after damage. Since its introduction, there have been numerous innovations in the field of self-healing materials.

“Self Healing Materials Market [By Material Type (Coatings, Concrete, Asphalt (Mannan-Oligosaccharide, Polymers, Ceramic, Others)); By Technology (Microencapsulation, Reversible Polymers, Biological Material Systems, Others); By Application (Automotive, Aerospace, Electronics, Building & Construction, Others); By Regions]: Market size & Forecast, 2017 – 2026”

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These products are being developed for application in smart phone screens and are made of ionic salts and stretchable polymers. These components are not only capable of healing scratches & cuts but also conduct electricity. They consist of bonds such as an ion-dipole interaction, which is a strong force between polar molecules and charged ions. These ions attract each other when the material experiences scratches or minute cracks. However, it takes around twenty-four hours for the ions to get back to their original formation.

 

In recent times, self-healing materials such as epoxy resins, hydrogels among others have found applications in concrete and roofing materials. Researchers in this field have discovered a specific bacteria group, which are embedded in the concrete thereby aiding the material to heal cracks. These bacteria produce metabolic calcium carbonate which acts as the healing agent. Further research and development in this sector has led to the introduction of soak clay balls that contain these bacteria types which are then added to concrete used in various construction projects such as residential buildings, bridges, tunnels etc.

 

As the water starts penetrating the concrete structure, these bacteria or microorganisms become active and hence, release calcium carbonate, which is one of the primary components of concrete mixtures. These bacteria are capable of closing cracks, however only up to a range of few millimeters.

 

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Some of the other recent developments that have been commercially introduced in the market include the self-healing screen used in smart phones. Motorola uses shatterproof displays which are an example of the application of these components used in smart phone displays in the present scenario. These advancements in the industry along with such high rate of commercialization of these products in the industry are some significant factors that support a robust growth of self-healing materials in the near future.

 

Key findings from the study suggest that the largest share of the market in 2017 was of the North American region. This is due to the fact that major research projects in this field have been undertaken in universities along with support from the multinationals in the U.S. The country was the leading market in terms of production for the past few years. The substantially advanced automobile, aerospace manufacturing sector in the U.S. has been the major industries driving demand of these products since its inception.

 

Major industry participants manufacturing these products in the global market space include Dow Chemicals, AkzoNobel, Huntsman Advanced Materials, and Autonomic Materials, Slips Technologies, Inc., Sensor Coating Systems Ltd., Acciona S.A., Applied Thin Films, Inc. (ATFI), Akzo Nobel N.V., Avecom N.V., Autonomic Materials Inc., BASF SE, Covestro AG (Formerly Bayer Material Science), Critical S.A. and Devan Chemicals.

 

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world

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Smart TV Market Analysis, Region, Demands And Forecasts Report 2020-2026

The Global Smart TV Market Size Worth USD 341.6 Billion By 2026 according to a new market research report by Polaris market research. In 2017, the Full HD Smart TV segment dominated the global market, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market revenue during the forecast period.

Polaris Market Research presents a most up-to-date research on “Smart TV Market [By Resolution Type (4K UHD TV, HDTV, Full HD TV, 8K TV); By Screen Size (28 to 40 Inches, 41 to 59 Inches, and Above 60 Inches); By Distribution Channel (Direct, Indirect); By Region]: Market Size & Forecast, 2017 – 2026”

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The increasing adoption of 4K televisions, and growing penetration of high-speed internet have boosted the adoption of smart TVs. Increasing disposable incomes, and growth in media & entertainment industry further support the growth of this market. Increasing penetration of televisions, growing demand for superior video and audio television content, and rising consumption of online content boost the adoption of smart TVs. Increasing investments by vendors in technological advancements coupled with increasing demand from emerging economies further boost the market growth.

The growing disposable income has encouraged consumers to buy technologically advanced television sets that are in perfect amalgamation with their increasing living standards. Moreover, consumers are opting for high quality video and audio services along with the ability to connect to the internet. Thus, lofty living standards and increasing consumption of online content, would contribute to the growth of the smart TV market, thereby positively affecting the market growth.

Asia-Pacific generated the highest revenue in the market in 2017 and is expected to lead the global market throughout the forecast period. The increasing disposable incomes in developing countries of this region, and growing media and entertainment industry drive the market growth in the region. There has been a significant increase in the shipment of smart TVs in the region. The growing demand for high quality audio and video services, along with the need to connect to the internet has encouraged consumers to invest in smart TVs. Local players are introducing low cost Smart TVs with advanced technologies to cater to the growing demand of consumers. Numerous key players have adopted partnership and expansion strategies to increase their market share in Smart TV markets of the Asia-Pacific region.

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The different ranges of screen sizes covered in the report include 28 to 40 Inches, 41 to 59 Inches, and above 60 Inches. In 2017, the 41 to 59 inches segment accounted for the highest market share. Smart TVs with screen sizes in the range of 41 to 59 inches are gaining traction worldwide owing to improved capability to offer superior video and audio quality along with additional features. Introduction of low cost smart TVs by the market players have boosted the growth of this market segment.

The well-known companies profiled in the report include LG Electronics, Inc., Koninklijke Philips N.V., Sony Corporation, Samsung Electronics Co. Ltd., Sharp Corporation, Hitachi Ltd., Toshiba Corporation, Haier Electronics Group Co., Ltd., Panasonic Corporation, Videocon Industries Limited, and Skyworth Digital Holdings Ltd. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

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Halal Food Market Growth and Analysis by Regions, Type and Application, Forecast to 2026

The global Halal Food Market is anticipated to reach USD 922.53 billion by 2026 according to a new study published by Polaris Market Research.

 

The Halal Food market growth is primarily due to increase in Muslim populations and their rising annual spending on food. This has created a surge in demand for halal food & beverage products. Increasing demand has also compelled market players to engage in authentic and branded products. Presently, consumers are exhibiting growing interest in halal industry. This is primarily due to the increasing consumer awareness about the nutritional and hygiene advantages, and improving lifestyles as a result of increasing disposable income. These products being processed and packed with much higher regulatory compliance compared conventional food products are gaining significantly popularity. Basically, they do not contain contents or ingredients that are against Islamic beliefs.

 

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Some of the leading industry participants in the Halal Food market include Cleone Foods, Prima Agri-Products, Cargill, Kawan Foods, Janan Meat, Saffron Road Food, Dagang Halal, QL Foods, Al Islami Foods and Nestle.

 

Halal foods are expected to be produced, packaged, stored, and distributed as per Islamic teachings. Moreover, these products are considered to be safe, clean, and highly nutritional. The significant growth in Muslim populations across the globe is expected to offer immense opportunities to Halal Food market. In addition, the rapidly accelerating economic power of Islamic countries is anticipated to largely influence them to spend additional money on the branded products.

 

The growing issues over the absence of proper regulatory framework to assure the authenticity of these products might be a restraint to the commercially produced halal food. The industry can be considered as a fragmented one and the absence of standardized regularizations has repressed the mainstream F&B participants from venturing this section of the worldwide Halal Food market. However, the number of small scale companies meeting the needs of the local populations has been increasing significantly.

 

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Low level of awareness about the presence of authentic halal food brands is acting as a challenge to the industry. As a consequence, the industry is not experiencing demands to its full potential as expected. Moreover, halal authentic issues within the sector are considered quiet minor among consumer. Thus, this requires manufacturers to improve their marketing strategies and production facilities. Furthermore, it becomes difficult to understand consumer perspective about halal food & beverage brands.

The Asia Pacific Halal Food market is anticipated to dominate the global market by 2026, owing to the presence of emerging nations such as India, Indonesia, Malaysia, Bangladesh, Maldives, and Pakistan. These nations have significant population that follows Islamic beliefs. Moreover, the rising economic conditions in the region provides an opportunity for the foreign players to start of their production facilities, thus offering cost effective products the consumers in the region.

 

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world

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Restaurant POS Terminals Market Future Technological Trends and Business Opportunities By 2026

According to a new study published by Polaris Market Research the worldwide Restaurant POS Terminals market is anticipated to reach USD 30,966 million by 2026. In 2017, the fixed POS terminal dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market revenue during the forecast period.

  

The well-known companies profiled in the report include PAX Technology Limited, TouchBistro, Verifone Systems, Inc., Oracle Corporation, LimesTray, Ingenico Group, Posist, Posera, PoSsible POS, Aireus., Upserve, Inc., Revel Systems, and Squirrel Systems among others. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

 

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The rising number of cashless transactions and growing need for digital payments primarily drive the growth of this market. POS solutions are increasingly being adopted in the restaurant industry to increase productivity, reduce serving time, and gain business insights. Availability of mobile devices at low costs also supplements market growth. Other driving factors include increasing internet penetration, growing transactions through ecommerce, and increasing advancements in technologies.

 

There has been an increasing adoption of mobile POS terminals in restaurants. Mobile POS terminals are integrated with mobile devices such as smart phones and tablets, which offer benefits such as reduced serving time, higher workforce efficiency, while improve customer experience.  The integration of technologies such as smart card, RFID (Radio Frequency Identification), VoIP (Voice Internet Protocol), and Wi-Fi, provides features such as sales analytics, inventory management, employee management, invoice management, and capture of electronic signatures. The declining prices of mobile devices, increasing demand for portable & wearable devices, rising NFC-based transactions, and technological advancements further supplement the growth of restaurant POS terminals. The rising adoption of cloud-based and Android POS devices also boosts market growth. Breadcrumb POS by UpServe is a cloud-based point of sale (POS) solution available in the market aimed at enabling restaurants and bars to manage customer interaction. A few features offered by the solution include tip adjustment, logbook, and ability to spilt checks among others. This solution allows users to keep a track of tables being served. Servers are provided with options of adding modifiers, making notes, customizing menus, and taking orders. It also offers an ‘UpServe Live’ feature, which enables users to track restaurant and bar sales, sale of items in the restaurant, guest count, and weekly trends.

 

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Small business owners are investing in effective POS terminals to increase overall profitability. BarTab is an on-premise point of sales solution available in the market. This solution is especially developed for small to midsize businesses. The features offered by this solution include stock management, cloud-based till records, and sales analysis. BarTab maintains a record of till reports and provides notifications upon variation. It also maintains a detailed report of current stock levels and average weekly sales. Users can track orders and communicate with staff members for providing enhanced services to customers. TouchBistro is a popular POS solution available in the market. It is an iPad-based point of sale (POS) solution catering the needs of all kind of restaurants. It offers food service specific features along with advanced management capabilities. The solution offers mobility, which enables payment of bills and order placement at the tables, thereby enhancing customer experience. TouchBistro also offers capabilities to split-checks, print or email receipts.

 

North America generated the highest revenue in the market in 2017, and is expected to lead the global market throughout the forecast period. The high consumption of fast food in North America boosts the restaurant industry in the region, thereby increasing the need to simplify transactions and increase efficiency in restaurants. The government in the region encourages consumers to adopt EMV-enabled devices. These devices offer additional security and minimize breaches and frauds in digital payments.

 

The different types of POS terminals used in restaurants include fixed POS terminals and mobile POS terminals. In 2017, fixed POS terminals accounted for higher market share owing to cost efficiency and time effectiveness. Fixed POS terminals can be easily connected to hardware like PCs and printers, and are ideal for use at places with high transaction volume.  Mobile POS terminals are expected to grow at a higher CAGR during the forecast period owing to owing to increasing demand for wireless technologies. These solutions enable users to boost customer interaction by reducing waiting time, and offering mobility services. The demand for mobile POS terminals has increased in small restaurants, bars, and cafes owing to low costs associated with them, and increasing use of mobile devices such as smartphones and tablets for increasing efficiency.

 

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The various end-users of restaurant POS terminals include fast food restaurants, casual dining restaurants, fine dining restaurants, bars and pubs, and others. In 2017, fast food restaurants accounted for the largest share in the global market, and are estimated to grow at a substantial rate during the forecast period. The use POS terminals enable fast food restaurant to offer services in short time periods and simplifying the process of taking orders, payments, and customer management.

 

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