UIPOS research found that the US EPOS terminal market is currently in a relatively fragmented state, and the EPOS terminal market is composed of major players, including NEC Corporation, Ingenico Inc. (Apollo Asset Management), BBPOS Limited (STRIPE), Castles Technology and NEC Corporation.
To further consolidate their positions and increase market concentration, UIPOS predicts that partnerships and alliances will become strategic priorities for suppliers operating in the market. Suppliers are focusing on expanding their influence to attract new customers, with all major players striving to secure greater market shares, thereby intensifying competition. The ease of product distribution has further heightened competitive dynamics. Overall, competitive competition is expected to grow moderately and grow among suppliers.
In the increasingly competitive US market, UIPOS has analysed several key sectors of the EPOS terminal market and found that the adoption of EPOS terminals in the retail sector is rising significantly.
The retail industry is one of the primary users of EPOS terminals, with this market segment gradually recovering as physical stores across the country reopen. Both tech-savvy and average consumers are demanding convenient, efficient, and seamless shopping experiences, which has driven the growing adoption of EPOS terminals in retail.
In addition, the increase in the number of retail stores across the United States has attracted customers because retail stores are offering large discounts and other services. However, in the face of a significant increase in the number of customers, sales data, inventory and prices are all issues that retailers need to consider in retaining customers and maintaining customer relationships. EPOS terminals provide essential tools for inventory management, sales reporting, financial oversight, and customer analytics. As a result, the retail industry’s need for customer retention and competitive growth has spurred the development of EPOS terminals.
The growth of e-commerce in the United States has also led to digital payments becoming the preferred method for many American consumers. UIPOS surveys indicate that 41% of shoppers in the country prefer to use their smartphones or tablets as primary shopping tools. This trend, particularly among younger generations who favour digital payments, has significantly increased the adoption of EPOS terminal systems across the United States.
Beyond the retail sector, the use of EPOS terminals is also expanding in industries such as catering and hospitality, which account for 34% and 25% of the overall EPOS market, respectively. In response to these trends, UIPOS has introduced a range of cost-effective EPOS terminal hardware solutions that cater to the needs of multiple industries, including catering and hospitality, in addition to retail.