Global Point Of Sale Terminals Market

Point Of Sale Terminals Market Size, Share, Growth Analysis, By Product Type(Fixed POS terminals and Wireless mobile POS), By Component(Hardware and Software), By Region - Industry Forecast 2024-2031


Report ID: SQMIG45J2059 | Region: Global | Published Date: April, 2024
Pages: 197 |Tables: 59 |Figures: 75

Point Of Sale Terminals Market Insights

Global Point Of Sale Terminals Market size was valued at USD 94.40 billion in 2022 and is poised to grow from USD 101.95 billion in 2023 to USD 188.71 billion by 2031, growing at a CAGR of 8% during the forecast period (2024-2031).

The POS terminal is a digital electronic device operated through the integration of software and hardware that allows retail outlets to receive card payments without any use of their cash registers to directly read the cards. Point-of-sale terminals refer to electronic devices used for processing card payments, managing inventory, printing invoices, and implementing loyalty programs in various end-use verticals such as restaurants, hospitality, healthcare, retail, warehouse/distribution, and entertainment. The cost of implementing POS terminals differs depending on the organization's size and the suppliers' conditions. Small retailers or merchants do not necessarily have to pay rent to operate POS devices and customers do not have to pay additional fees for using the service POS terminal.

The wired POS terminal is very convenient to use. POS terminals accept all types of cards, including debit and credit cards connected to various payment methods such as magnetic stripe cards, chip cards, and contactless cards. The wireless POS terminal is widely used in hotels, hospitality, retail outlets, small vendors, and many more. The wireless POS terminal mainly uses 3G technology to connect to the network for online transactions. The cost of implementing POS terminals varies depending on the organization's size and the vendors' terms. Customers may not have to pay any additional fees to use the POS terminal service, however, smaller stores or merchants may have to pay rent to operate the POS terminals.

The growing trend of contactless payments and the growing penetration of near-field communication devices across various industry verticals will drive the demand for the POS terminal market. Several countries are turning to cashless transactions to implement fast, easy and secure payment methods. The technology will help retail and hospitality customers implement simple, safe, and secure payment methods into their operations. Additionally, increasing R&D investments and developing advanced payment solutions by manufacturers will increase the demand for the POS terminals market. Payment companies develop innovative solutions for specific industrial purposes to increase profitability. The devices will enable retailers to efficiently manage their store's inventory and business operations, resulting in increased market growth. However, rising cyber threats and rising security concerns are expected to hamper the POS terminal market.

US Point Of Sale Terminals Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 94.40 billion

Largest Segment

Fixed POS terminals

Fastest Growth

Fixed POS terminals

Growth Rate

8% CAGR

Global point of sale terminals market, 2022-2030 ($ Bn)
Country Share for Asia Pacific Region- 2022 (%)

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Point Of Sale Terminals Market Segmental Analysis

Point Of Sale Terminals Market is segmented on the basis of product type, component, and region. On the basis of product type, global Point Of Sale Terminals Market is segmented into fixed POS terminals and wireless, mobile POS. On the basis of component, global Point Of Sale Terminals Market is segmented into hardware and software. On the basis of region, global Point Of Sale Terminals Market is divided into North America, Europe, Asia Pacific, Latin America, and MEA.

Point Of Sale Terminals Market Analysis by Product Type

On the basis of product type, global point of sale terminals market is segmented into fixed POS terminals and wireless mobile POS. The fixed POS terminals segment dominated the global market. Major vendors are looking to install these terminals in their locations. There are many other functions provided by this system such as invoice printing, inventory management, customer relationship management, and device support used to make payments.

The mobile product segment is also expected to grow at the fastest CAGR during the forecast period. The widespread use of smartphones has led to the adoption of mobile point-of-sale terminals. This payment method is easy and convenient. It also contributes to customer satisfaction as this online payment method reduces time spent in lines. Restaurant output and efficiency have increased significantly and restaurants are now able to provide a better experience to their customers; all these factors will drive the growth of the market during the forecast period. 

Point Of Sale Terminals Market Analysis by Component

On the basis of component, global point of sale terminals market is segmented into hardware and software. The hardware segment dominated the global market. There are various hardware devices in the hardware segment. These hardware devices are used to manage day-to-day tasks. These hardware devices are necessary components of the fixed terminal system.

The software segment is expected to grow at a CAGR of 10.5% during the forecast period. The software segment is expected to grow as it is useful in offering sales analysis, data support, and many other multi-purpose functions. Companies provide different software to perform different functions.

Global point of sale terminals market size by product type, 2022 (%), 2023 (%)

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Point Of Sale Terminals Market Regional Insights

On the basis of region, global point of sale terminals market is divided into North America, Europe, Asia Pacific, Latin America, and MEA. Asia Pacific dominated the global market. Rising wages and rising living standards have boosted the retail industry in emerging markets such as India and China, driving retail POS demand. Government measures in this sector are designed to promote a cashless economy and increase demand for POS terminals. Low penetration and demand for mobile POS terminals will create significant growth in emerging Asia Pacific countries such as the Philippines, India, Vietnam, Thailand, and Singapore.

North America will be the second largest regional market with a significant growth rate during the forecast period. The number of demanding payment technologies such as contactless payments and NFC have increased product demand in the region. Also, the United States has a large number of large retail brand stores such as Wal-Mart, Costco Wholesale Corporation, and Target. Every day, Kroger Company and Home Depot need POS terminals to manage billing, payments, employee duties, and inventory. Additionally, post-Covid-19, the US government is advising the use of contactless payment methods to prevent the spread of the virus. However, the overall expansion of the sector market was hampered by the pandemic-induced slowdown in the retail and other services sectors.

Global point of sale terminals market size by geography, 2022-2030, 2024-2031
  • Largest
  • Fastest

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Point Of Sale Terminals Market Dynamics

Point Of Sale Terminals Market Driver

  • Increasing demand for mPOS among the population

In a retail environment, agents sell goods to customers in different areas of the store. Many businesses often sell goods/services outside the store, such as farmers' markets, food trucks, or customers' homes, and can use mPoS solutions to securely accept different types of card payments. This significantly improves the customer experience, helps create a complete view of the market, and increases sales opportunities. In the United States, the Europay, Mastercard, and Visa (EMV) migration are also underway, and many merchants require payment solutions that allow them to accept FMV cards. All these factors contribute to the growth of the market.

Point Of Sale Terminals Market Restraint

  • Increase in cyber-attacks and bank fraud

According to technology experts, flaws in mPoS allow malicious merchants to trick consumers and attackers into stealing payment card data. Among others, Square, Zettle, SumUp, and PayPal have disclosed vulnerabilities in their mPOS systems in the US and Europe. The device connects to a mobile app via Bluetooth and sends data to the payment processor's server. In the United States, only 58.5% of debit and credit card transactions use EMV technology, and only 41% of purchases are processed this way, proving a significant risk for Magstripe attacks. Remote code execution attacks have been used against individual mPOS software. This vulnerability can compromise the entire operating system of the reader. Distributing random notifications to other readers can influence their behavior.

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Point Of Sale Terminals Market Competitive Landscape

Global point of sale terminals market is highly competitive with the presence of local as well as global companies. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the global market.

For example, In July 2021, Oracle acquired GloriaFood, an online ordering and marketing platform, to expand its Oracle Micros Simphony Cloud POS platform. According to a press release, the acquisition, which was completed in late June, now provides live dining services to Oracle's restaurant customers via web, mobile, and apps.

Point Of Sale Terminals Market Top Player's Company Profiles

  • Ingenico Group
  • Verifone Systems, Inc.
  • Toshiba Corporation
  • PAX Global Technology Limited
  • NCR Corporation
  • Diebold Nixdorf, Incorporated
  • Fujitsu Limited
  • NEC Corporation
  • Panasonic Corporation
  • HP Inc.
  • MICROS Systems Inc.
  • Samsung Electronics Co., Ltd.
  • Cisco Systems, Inc.
  • POSCO
  • Hisense Co., Ltd.
  • Wincor Nixdorf AG
  • Oracle Corporation
  • Square, Inc.
  • Shopify Inc.
  • Lightspeed POS Inc.

Point Of Sale Terminals Market Recent Developments

  • In March 2022, Ingenico S.A. announced a partnership with BharatPe. The partnership focuses on providing advanced payment and commerce services to Indian merchants and helps drive the adoption of POS devices in India.
  • In June 2021, Samsung Electronics introduced the Samsung Kiosk, an all-in-one solution that offers contactless ordering and payment capabilities. Providing customers with easy installation options and a protective coating, the kiosk is now available in the United States, Canada, United Kingdom, Ireland, France, Sweden, Netherlands, Belgium, Spain, Austria, Australia, and 12 countries worldwide. Kiosks have quickly become a part of everyday life, providing consumers with an easy and interactive way to purchase goods and offering businesses an innovative solution to reimagine the workplace and increase efficiency.

Point Of Sale Terminals Key Market Trends

  • Technological advancement is a key trend gaining popularity in the point-of-sale terminal market. For example, in September 2021, PAX Global Technology, a Chinese manufacturer of payment terminals, PIN pads, and point-of-sale hardware and software, launched Android payphones in Amsterdam. In November 2020, Worldline, a France-based payment, and transactional services company acquired Ingenico for a deal value of USD 8.5 billion.

Point Of Sale Terminals Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our business information services team that collects, collates, co-relates, and analyses the data collected by means of primary exploratory research backed by the robust secondary desk research.

According to our global point of sale terminals market analysis, the growing trend of contactless payments and the growing penetration of near-field communication devices across various industry verticals will drive the demand for the POS terminal market. By region, Asia Pacific is expected to grow as a competitive market during the forecast period. Based on product type, the fixed POS terminals segment holds a market share of about 54% and is expected to maintain its dominance during the forecast period. However, rising cyber threats and rising security concerns are expected to hamper the POS terminal market.

Report Metric Details
Market size value in 2023 USD 94.40 billion
Market size value in 2031 USD 188.71 billion
Growth Rate 8%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Product Type
    • Fixed POS terminals and Wireless mobile POS
  • Component
    • Hardware and Software
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Ingenico Group
  • Verifone Systems, Inc.
  • Toshiba Corporation
  • PAX Global Technology Limited
  • NCR Corporation
  • Diebold Nixdorf, Incorporated
  • Fujitsu Limited
  • NEC Corporation
  • Panasonic Corporation
  • HP Inc.
  • MICROS Systems Inc.
  • Samsung Electronics Co., Ltd.
  • Cisco Systems, Inc.
  • POSCO
  • Hisense Co., Ltd.
  • Wincor Nixdorf AG
  • Oracle Corporation
  • Square, Inc.
  • Shopify Inc.
  • Lightspeed POS Inc.
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Point Of Sale Terminals Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Point Of Sale Terminals Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Point Of Sale Terminals Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Point Of Sale Terminals Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Point Of Sale Terminals Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Point Of Sale Terminals Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Point Of Sale Terminals Market size was valued at USD 94.40 billion in 2022 and is poised to grow from USD 101.95 billion in 2023 to USD 188.71 billion by 2031, growing at a CAGR of 8% during the forecast period (2024-2031).

point of sale terminals market is highly competitive with the presence of local as well as companies. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the market. 'Ingenico Group', 'Verifone Systems, Inc.', 'Toshiba Corporation', 'PAX Technology Limited', 'NCR Corporation', 'Diebold Nixdorf, Incorporated', 'Fujitsu Limited', 'NEC Corporation', 'Panasonic Corporation', 'HP Inc.', 'MICROS Systems Inc.', 'Samsung Electronics Co., Ltd.', 'Cisco Systems, Inc.', 'POSCO', 'Hisense Co., Ltd.', 'Wincor Nixdorf AG', 'Oracle Corporation', 'Square, Inc.', 'Shopify Inc.', 'Lightspeed POS Inc.'

Increasing demand for mPOS among the population

Technological advancement is a key trend gaining popularity in the point-of-sale terminal market. For example, in September 2021, PAX Technology, a Chinese manufacturer of payment terminals, PIN pads, and point-of-sale hardware and software, launched Android payphones in Amsterdam. In November 2020, Worldline, a France-based payment, and transactional services company acquired Ingenico for a deal value of USD 8.5 billion.

On the basis of region, point of sale terminals market is divided into North America, Europe, Asia Pacific, Latin America, and MEA. Asia Pacific dominated the market. Rising wages and rising living standards have boosted the retail industry in emerging markets such as India and China, driving retail POS demand. Government measures in this sector are designed to promote a cashless economy and increase demand for POS terminals. Low penetration and demand for mobile POS terminals will create significant growth in emerging Asia Pacific countries such as the Philippines, India, Vietnam, Thailand, and Singapore.

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