Point Of Sale (Pos) Terminal Market Research Report- Forecast to 2030

Point Of Sale (Pos) Terminal Market Research Report, By Component (Hardware, Software, And Services), By Product Type (Fixed And Wireless), By Deployment (On-Cloud And On-Premises), And By End-User - Forecast Till 2030

ID: MRFR/SEM/4180-HCR | February 2021 | Region: Global | 100 pages         

Point Of Sale (Pos) Terminal Market

The point of sale terminal market is expected to grow at USD 125.31 Billion by 2030, at 8.1% of CAGR between 2020 and 2030.

Segmentation

By Component Hardware Software Services
By Product Type Fixed And Wireless
By Deployment On-Cloud And On-Premises

Key Players

  • Ingenico (France)
  • CITIXSYS AMERICAS (US)
  • Verifone (US)
  • Squirrel Systems (Canada)
  • BBPOS (Hong Kong)
  • Newland Payment Technology (China)
  • First Data (US)
  • Cegid Group (France)
  • PAX Global Technology (Hong Kong)
  • Castles Technology (Taiwan)
  • Elavon (US)
  • NCR Corporation (US)
  • Diebold Nixdorf (US)
  • Winops (Finland)
  • BITEL (Korea)

Drivers

  • The wireless POS terminal majorly uses 3G technology to connect to the network for online transactions.
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Point Of Sale (Pos) Terminal Market Overview


The Point Of Sale (Pos) Terminal Market will acquire a strong CAGR of 8.1 % and a value of USD 125.31 Billion in the forecast period 2030 during the forecast period.


The market noticed a good growth rate due to the key growth factors such as elaboration and the increased adoption rate of wireless payment terminals. These factors are driving the Point Of Sale (Pos) Terminal Market. The retailers' implementation of different payment modes such as VISA cards, Master cards, and many others enhances the market's growth. The rise in e-commerce and online transactions by consumers is boosting the market.


 The features of the POS systems help in propelling the productivity rate, which accelerates the sales rate. Due to the specialized features, the technician requires only minimal interaction for installation. These devices are also integrated with plug-and-play capabilities with pre-installed software components. These features are emerging in the usage of these devices in different sectors. This system also eliminates hassles during system settings for users. The functionality of the devices has proven easy for small and medium merchants. The convenience mode and the efficiency provided by these systems will accelerate the point of sale terminal market's growth in the valuation period.


COVID 19 Analysis


The novel coronavirus has stimulated various kinds of changes in the way businesses conducted their manufacturing and production activities, corporates carried out their processes to meet the organizational goals, and individuals performing functions in their normal course of life. The pandemic has introduced new struggles for all the industries and verticals except some like the healthcare services and trends like work-from-home, and online working and classes amongst others. The government has imposed lockdowns and functional restrictions on the point of sale terminal market by domestic and global. Also, there is a decline in imports and exports due to the international norms.


The point of sale (PoS) terminal market size has expanded during the coronavirus pandemic and the ongoing forecast period of 2017-2023, as well. Point of sale terminal market reduces the risk of physical involvement and hence, reduces the risk of contracting the disease. The MasterCard is available with the WiFi feature that is further gaining momentum and experiencing an increase amongst the target audience spread across various global locations during the ongoing forecast period of 2017-2023.


Market Dynamics



  • Drivers


The features that are a part of the POS systems help in enhancing the productivity that has a positive impact on the quantum of sales, as well. Many features will require minimal interaction from any technician for the installation process of the systems. Also, these devices come with the plug-and-play capabilities that are being deployed with most of the pre-installed software components. Further, the system helps in the elimination of hassles that often come up while setting the system for users and hence, makes it easy for both the small and medium merchants to smoothly adopt these systems. Also, the ease of use offered by the systems with increased efficiency while driving the point of sale terminal market growth during the forecast period.



  • Restraints


However, privacy issues and concerts related to data leak and misuse of the information provided and printed on the cards are restricting the target audience to opt and fully trust these devices and solutions presented by the market operations and prominent point of sale terminal market players during the forecast period of 2017-2023. Also, the lack of awareness amongst the target audience will hamper the point of sale terminal market operations during the forecast period that ends by 2023. Also, many manufacturers are already struggling with the losses incurred during the pandemic which is barring them to invest in using these on an elaborated scale.



  • Technology Analysis


There is an increase in the concentration of businesses of growing customer frequency. The businesses are on the lookout for technologies that help in streamlining the processes and further, integrate into a single point of contact. Innovations and creativity in technology have led to major and in-depth technology are resulting in advancements in the systems namely the MPOS and the automated POS systems. These help in completely automating the checkout process. POS systems further, help in increasing the operational efficiency of the running businesses and tend to offer approximately 24% saving during the point of sale terminal market operations and also promise a good yield and high return on investment during the forecast period that ends by 2023. Moreover, the point of sale terminal market systems are helping the merchants by providing them with multiple capabilities like faster checkouts, sales tracking, ease of forwarding the orders, inventory monitoring, and payment security amongst others.


Segment Overview


The point of sale (PoS) terminal market growth is dependent on the performance of the market segments which are as follows:



  • By component


This segment deals in hardware, POS software, and services.



  • By type


The type segment of the point of sale terminal market includes mPOS, smart POS, portable countertop and PIN Pad, and others like a smart mobile dongle and mini POS. 



  • By industry


The industry segment of the point of sale terminal market includes the home delivery and service delivery sector, retail, medical and hospitality, taxi and transportation, sports, entertainment, and media sector.


Regional Analysis


Based on the global diversification of the point of sale terminal market and the spread of target audience across the globe, the market functions in 4 major regions. The North American market is likely to grow excellent growth prospects and thus, help the market attain the largest point of sale terminal market size during the forecast period of 2017-2023. The point of sale terminal market is home to the growing modernization of the payment industry and also, wide-scale offerings made by business-specific solutions. Another reason that will help the market gain momentum across the global competition is that there has been a significant use and implementation of the wireless PoS terminals across a huge range of industries like hospitality, medical, and healthcare amongst others like the retail and entertainment industry. EMV is one of the compliance requirements that affect the enhanced security for payments that will add to the growth graph of the market during the forecast period of 2017-2023.


Competitive Landscape


The prominent point of sale terminal market players that help in the expansion of the Point of sale (PoS) terminal market share and also, help the market reach the expected market valuation are as follows:



  • Ingenico (France)

  • CITIXSYS AMERICAS (US)

  • Verifone (US)

  • Squirrel Systems (Canada)

  • BBPOS (Hong Kong)

  • Newland Payment Technology (China)

  • First Data (US)

  • Cegid Group (France)

  • PAX Global Technology (Hong Kong)

  • Castles Technology (Taiwan)

  • Elavon (US)

  • NCR Corporation (US)

  • Diebold Nixdorf (US)

  • Winops (Finland)

  • BITEL (Korea)


Recent Developments


February 2022


Apple has announced to propel the iPhone's capabilities and accept contactless payments. This will make the process easier for the merchants to conduct tap-to-pay transactions. This will also ensure that there is no necessity to buy additional hardware.


This development will allow Apple to position itself at a competitive edge in contactless payments. The iPhone and Apple Pay are expected to play a dominant role in the point-of-sale terminal.


April 2022


Rubean AG and CYCLEBIT GROUP LTD, a fin-tech company for global payments and SaaS providers. Their primary products include point-of-sale (POS) services and marketplace solutions. The companies have signed agreements to subscribe to a convertible loan by CYCLEBIT. It will provide Rubean with funds of EUR 3.4 million, and CYCLEBIT will receive the right to convert the loan into 271,750 Rubean shares.


Intended Audience



  • Original device manufacturers (ODMs)

  • Research institutes and organizations

  • System integrators

  • Government research agencies

  • Public Sector

  • Private research organizations

  • Potential investors

  • Raw material suppliers

  • Assembly units

  • Packaging vendors

  • Wireless POS terminal original equipment manufacturers (OEMs)

  • Technical universities

  • Market research and consulting firms


Report Overview


The global report helps in understanding the potential and market scope that will help the market attain the dynamics during the forecast period of 2017-2023. The report highlights the performance of the segments in various global regions that will have an impact on the expected and original market valuation by the end of the forecast period. Also, the report discusses the recent developments undertaken by the prominent market players during the period.



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 125.31 Billion (2030)
  CAGR   8.1% (2020-2030)
  Base Year   2019
  Forecast Period   2020-2030
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Component, By Product Type
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Ingenico S.A. (France), Verifone Systems (U.S.), PAX Technology (Hong Kong), HP Company (U.S), Cisco Systems (U.S), Elavon (U.S.), Castles Technology (Taiwan), Newland Payment Technology (China), Panasonic Corporation (Japan), CITIXSYS AMERICAS (U.S.), Touchbistro (Canada), NCR Corporation (U.S.), Diebold Nixdorf (U.S.), Zebra technologies (U.S.), Squirrel Systems (Canada), and BBPOS (Hong Kong).
  Key Market Opportunities   The point of sale (POS) terminal is expected to expand due to rising initiatives by the governments to promote cashless economy.
  Key Market Drivers   The wireless POS terminal majorly uses 3G technology to connect to the network for online transactions.


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Frequently Asked Questions (FAQ) :

The point of sale (POS) terminal is expected to expand due to rising initiatives by the governments to promote cashless economy.

The point of sale (POS) terminal market is supposed to expand at 8.1% CAGR.

The valuation of the point of sale (POS) terminal market is expected to be USD 125.31 Bn by 2030

By product type, the segments of the point of sale (POS) terminal market are fixed and wireless.

The growth strategies expected to be witnessed in the market are product development & launches, technological innovations, mergers & acquisitions, etc.