Point-of-Sale Terminal Market Size & Share, By Product (Fixed, Mobile), Component (Hardware, Software), Deployment (Cloud, On-premise), End-use (Healthcare, Retail), And Segment Forecasts, 2023 - 2030

Market Outlook:

Point of Sale Terminal Market size surpassed USD 89.68 Billion in 2022 and is poised to reach USD 199.65 Billion, growing at over 9.54% CAGR between 2023 and 2030. With the increasing adoption of digital payment methods and the need for efficient transaction processing systems, the market valuation is anticipated to experience a steady rise.

• Base Year Value (2022): USD 89.68 Billion
• CAGR (2023-2030): 9.54%
• Forecast Year Value (2030): USD 199.65 Billion
• Historical Data Period: 2018-2021
• Largest Region: North America
• Forecast Period: 2023-2030

Market Dynamics:

Growth Drivers & Opportunities:

1. Rising Demand for Contactless Payments: The surge in contactless payments, driven by the convenience and security it offers, is propelling the demand for POS terminals. Merchants are increasingly adopting these terminals to cater to evolving consumer preferences.

2. Advancements in Payment Technologies: The continuous advancements in payment technologies, such as EMV (Europay, Mastercard, and Visa) chip-based payments, near field communication (NFC), and mobile wallets, are driving the market growth. Businesses are adopting POS terminals that can support these technologies.

3. Increasing Number of Retail Stores: The expanding retail industry worldwide is creating a substantial demand for POS terminals. Retailers are adopting these systems to streamline transactions, improve customer experience, and manage inventory efficiently.

4. Growing E-commerce Sector: The rapid growth of the e-commerce industry is boosting the demand for POS terminals equipped with online payment integration capabilities. This enables online merchants to seamlessly process payments and manage inventory across multiple channels.

Report Scope

Report Coverage	Details
Segments Covered	Product, Component, Deployment, End Use, Region
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Acrelec, AURES Group, HM Electronics, Hewlett Packard Development LP, NCR Corp., Oracle, Presto Group, Qu, Quail Digital, Revel Systems, Toast, Toshiba Corp., TouchBistro, and Xenial,

 

Industry Restraints & Challenges:

1. High Initial Costs: The initial cost associated with implementing POS terminals, including hardware, software, and system setup, may act as a barrier for small and medium-sized businesses. The investment required can be a restraint to market growth.

2. Data Security Concerns: With the increasing volume of digital transactions, ensuring the security of customer data is of utmost importance. Any potential breach in data security can lead to severe financial and reputational damages, which poses a challenge for the POS terminal market.

3. Integration and Compatibility Issues: Integrating POS terminals with existing IT infrastructure and ensuring compatibility with various payment methods and technologies can be complex and pose challenges for businesses. The need for seamless integration may slow down market growth.

4. Intense Competition: The market for POS terminals is highly competitive, with several major players and new entrants. Intense competition affects pricing strategies and profit margins. Market players need to adopt differentiation strategies to gain a competitive edge.

In conclusion, the POS terminal market is witnessing significant growth opportunities due to the rising demand for contactless payments, advancements in payment technologies, increasing number of retail stores, and the growth of the e-commerce sector. However, challenges such as high initial costs, data security concerns, integration and compatibility issues, and intense competition may hinder market growth.

Regional Forecast:

The global Point of Sale Terminal market is expected to witness significant growth across various regions, including North America, Asia Pacific, and Europe.

North America

North America is anticipated to dominate the market during the forecast period, driven by the increasing adoption of advanced payment technologies and the presence of a large number of retail chains and supermarkets. The rising demand for efficient transaction processing, enhanced security features, and seamless payment experiences are anticipated to fuel market growth in this region.

Asia Pacific

The Asia Pacific region is projected to witness substantial growth owing to the rapid digitization of cash-based transactions and the rising penetration of smartphones and other mobile devices. The increasing use of digital wallets, mobile payment apps, and online payment platforms is expected to drive the adoption of Point of Sale Terminals in countries like China and India.

Europe

Europe is also expected to contribute significantly to the market growth due to the strong presence of established retail chains and the increasing need for secure payment solutions. The stringent regulations regarding data security and the growing preference for contactless payment methods are likely to boost the demand for Point of Sale Terminals in this region.

Segmentation Analysis:

The Point of Sale Terminal market can be segmented based on the type of terminal, components, and end-use industries.

1. Mobile Point of Sale Terminals:

Mobile Point of Sale (mPOS) Terminals are witnessing significant adoption across various industries such as retail, hospitality, and transportation. These portable devices allow businesses to accept payments on-the-go, enhancing the customer experience and streamlining transaction processing. The adoption of mobile payment solutions has increased due to its convenience, flexibility, and ability to accept various modes of payments, including contactless payments and digital wallets. This sub-segment is expected to witness substantial growth during the forecast period due to the rising preference for mobile payment solutions and the increasing penetration of smartphones.

Competitive Landscape:

The competitive landscape of the Point of Sale Terminal market is highly fragmented with the presence of numerous local and global players. Some of the key market players include:

1. Verifone Systems Inc.:

Verifone Systems Inc. is a prominent player in the Point of Sale Terminal market offering a wide range of payment solutions. The company provides secure and innovative payment devices integrated with advanced technologies such as near-field communication (NFC) and biometric recognition. Verifone focuses on delivering user-friendly and reliable solutions to meet the evolving demands of various industries.

2. Ingenico Group:

Ingenico Group is a leading global provider of payment solutions, offering a comprehensive range of Point of Sale Terminals. The company offers secure and scalable solutions that support various payment methods, including EMV chip cards, contactless payments, and mobile wallet transactions. Ingenico provides value-added services, such as analytics and data insights, to enhance customer engagement and optimize business operations.

3. PAX Technology:

PAX Technology is a renowned provider of innovative Point of Sale Terminal solutions catering to the retail, hospitality, and transportation sectors. The company focuses on delivering cost-effective and efficient payment devices integrated with the latest technologies, such as Android operating systems. PAX Technology emphasizes customization and flexibility to meet the specific requirements of different businesses and industries.

4. NCR Corporation:

NCR Corporation is a global leader in Point of Sale Terminal solutions, offering a diverse range of hardware and software products. The company provides end-to-end payment solutions, including traditional cash registers, self-service kiosks, and mobile payment devices. NCR Corporation focuses on delivering seamless and secure payment experiences to enhance customer satisfaction and drive business growth.

5. Square Inc.:

Square Inc. is a renowned technology company offering a comprehensive range of Point of Sale solutions, primarily targeting small and medium-sized businesses. The company provides user-friendly and cost-effective solutions, including Square Reader, Square Stand, and Square Register. Square Inc. emphasizes simplicity and ease of use, empowering businesses to accept payments efficiently and manage their operations effectively.

The Point of Sale Terminal market is highly competitive, with market players focusing on partnerships, collaborations, and continuous product innovations to strengthen their market presence and gain a competitive edge.