Market Trends of Netherlands POS Terminal Industry
This section covers the major market trends shaping the Netherlands POS Terminal Market according to our research experts:
Retail Segment to Hold the Major Market Share
- The retail industry is one of the major users of POS terminals. The segment is expected to hold a significant share in the Netherlands. The retail segment is slowly picking up with the reopening of brick-and-mortar stores in different parts of the country.
- The increasing need for multiple POS systems among big retailers, supermarkets, and departmental stores with a robust and centralized system has propelled the retail sector's steady growth in the POS terminal market. The increased emphasis on consumer behavior has led to increased POS adoption due to its consumer mapping application.
- Retail sales in the Netherlands grew 0.7% year-on-year in May 2022, easing sharply from an upwardly revised 8.2 percent rise in the previous month. It was the 17th straight month of increase in retail sales, but the weakest growth since June 2014, as sales of both food and non-food rose softer.
- Retail businesses, making thousands of dollars in transactions daily, rely on POS terminals to understand the sales performance and to better manage their inventory based on the products/services that attract most customers. With the increasing risk of handling cash, online transactions are gaining popularity, owing to the streamlined processes involved.
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Healthcare Segment to Drive the Market Growth
- The healthcare industry is another prominent adopter of POS terminals. The segment is expected to grow rapidly due to several factors such as government initiatives, vendor activities, etc. According to a study by ING Economisch Bureau, the country saw a growth of 4.5% in the healthcare sector. Such instances suggest a growing demand for PoS terminals in the country from the healthcare segment.
- The demand for securing information of patients is one of the major drivers of POS terminals in the healthcare industry. For instance, the established General Data Protection Regulation or GDPR has a framework for data governance and quality to improve healthcare research, innovation, and policy making.
- With the rapid digitization of the healthcare industry in different parts of the region, the need for modern POS terminals is also increasing for processing pandemic-related information, payment processes, and managing patient information.
- In addition, the healthcare sector is creating a demand for POS terminals for contactless payments to ensure patient and staff safety. The growth has also been majorly due to the pandemic. The regional vendors have also launched new products that are concentrated toward improving patient safety-the modern POS terminals with touch screens that can be operated with rubber gloves suitable for healthcare usage.
