Cash Register Market Overview in Iceland
Market Overview
In 2019, the Icelandic cash register market increased by 
% to $, rising for the fifth consecutive year after two years of decline. Over the period under review, consumption enjoyed a strong increase. The most prominent rate of growth was recorded in 2017 when the market value increased by % against the previous year. Cash register consumption peaked in 2019 and is likely to see steady growth in the near future.
% to $, rising for the fifth consecutive year after two years of decline. Over the period under review, consumption enjoyed a strong increase. The most prominent rate of growth was recorded in 2017 when the market value increased by % against the previous year. Cash register consumption peaked in 2019 and is likely to see steady growth in the near future.Consumption
In 2019, consumption of cash registers increased by % to units, rising for the fourth consecutive year after three years of decline. In general, consumption enjoyed a resilient expansion. The pace of growth was the most pronounced in 2017 with an increase of % y-o-y. Over the period under review, consumption reached the peak volume in 2019 and is expected to retain growth in years to come.
The revenue of the cash register market in Iceland was estimated at $ in 2019, increasing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2017 when the market value increased by % against the previous year. Over the period under review, the market attained the maximum level in 2019 and is expected to retain growth in the near future.
% to units, rising for the fourth consecutive year after three years of decline. In general, consumption enjoyed a resilient expansion. The pace of growth was the most pronounced in 2017 with an increase of % y-o-y. Over the period under review, consumption reached the peak volume in 2019 and is expected to retain growth in years to come.The revenue of the cash register market in Iceland was estimated at $
in 2019, increasing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2017 when the market value increased by % against the previous year. Over the period under review, the market attained the maximum level in 2019 and is expected to retain growth in the near future.Market Forecast
Driven by increasing demand for cash register in Iceland, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from 2019 to , which is projected to bring the market volume to units by the end of .
% for the period from 2019 to , which is projected to bring the market volume to units by the end of .Trade Balance
Iceland remains a net importer of cash register; in physical and value terms, imports consistently exceeded exports from 2007 to 2019. In 2019, there was a significant trade deficit of units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
units, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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