NEW
YORK, July 3, 2024 /PRNewswire/ -- The global
POS terminals market size is estimated to grow by USD 54.9 billion from 2024-2028, according
to Technavio. The market is estimated to grow at a CAGR of
about 8.98% during the forecast period. Growth in
end-user demand for pos terminals is driving market
growth, with a trend towards continuous development of
new products. However, high operational and maintenance costs
of pos terminals poses a challenge. Key market players
include BBPOS International Ltd., Bitel Corp., Castles Technology
Co. Ltd., Cegid SA, CitiXsys Holdings Inc., Diebold Nixdorf Inc.,
Elavon Inc., Fiserv Inc., Ingenico Group SA, NCR Corp., Newland
Europe BV, Oracle Corp., PAX Global Technology Ltd., PayPal
Holdings Inc., Revel Systems Inc., Squirrel Systems U.S. Inc.,
TouchBistro Inc., VeriFone Inc., and WInpos Group AB.
Get a detailed analysis on regions, market
segments, customer landscape, and companies- View the
snapshot of this report
POS Terminals
Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
8.98%
|
Market growth
2024-2028
|
USD 54.9
billion
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
8.02
|
Regional
analysis
|
APAC, North America,
Europe, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 46%
|
Key
countries
|
China, US, Germany, UK,
and Japan
|
Key companies
profiled
|
BBPOS International
Ltd., Bitel Corp., Castles Technology Co. Ltd., Cegid SA, CitiXsys
Holdings Inc., Diebold Nixdorf Inc., Elavon Inc., Fiserv Inc.,
Ingenico Group SA, NCR Corp., Newland Europe BV, Oracle Corp., PAX
Global Technology Ltd., PayPal Holdings Inc., Revel Systems Inc.,
Squirrel Systems U.S. Inc., TouchBistro Inc., VeriFone Inc., and
WInpos Group AB
|
Market Driver
The global POS terminals market is experiencing growth due to
the development of secure and compliant terminals. PCI-DSS and EMV
regulations are driving the adoption of advanced encryption,
tokenization, and authentication mechanisms. Merchants benefit from
greater customization and scalability options, including modular
POS systems. Mobile POS (mPOS) solutions and cloud-based platforms
offer flexibility, affordability, and scalability, particularly for
small and medium-sized businesses. Continuous technology
advancements expand market opportunities across various industries
and geographies.
The Pos Terminals Market has seen significant growth in recent
times with the increasing trend of contactless payments. The use of
digital wallets and mobile point-of-sale (mPOS) systems has become
commonplace in various industries. The implementation of
contactless technology has been a game-changer, allowing for faster
transactions and improved customer experience. The demand for
secure and convenient payment solutions has led to the development
of new features such as tokenization and encryption. Furthermore,
the integration of loyalty programs and real-time analytics has
added value to the market. The future looks bright for the Pos
Terminals Market with the continued adoption of digital payments
and advancements in technology.
Research report provides comprehensive data on
impact of trend. For more details- Download a Sample
Report
Market Challenges
- The global POS terminals market growth is being hindered by the
high operational and maintenance costs. These costs consist of
setup fees, individual transaction charges, monthly subscriptions,
and cancellation penalties. Server-based POS terminals are more
expensive due to their high setup costs, licensing fees, and
monthly maintenance fees. The failure of POS terminals can lead to
significant downtime and revenue loss for businesses. Retailers
experience one-quarter of all technology device issues from POS
terminals, resulting in wasted time and resources for repairs.
These factors limit the profitability of end-users in the
market.
- The Pos Terminals Market faces several challenges in the
current business landscape. One major challenge is the increasing
competition from e-commerce platforms and mobile wallets. Consumers
prefer convenience and speed, leading to a shift towards digital
payments. Another challenge is the need for secure and reliable
payment systems to ensure customer trust. Additionally, compliance
with regulatory requirements, such as KYC and anti-money laundering
regulations, adds complexity to the market. Furthermore, the cost
of hardware and maintenance for point-of-sale (POS) terminals is a
significant challenge for small businesses. Lastly, the need for
real-time processing and integration with various payment networks
is essential to remain competitive. Overall, the Pos Terminals
Market requires continuous innovation and adaptation to meet the
evolving needs of consumers and businesses.
For more insights on driver and
challenges - Request a sample report!
Segment Overview
This pos terminals market report extensively covers market
segmentation by
- End-user
- 1.1 Entertainment
- 1.2 Hospitality
- 1.3 Healthcare
- 1.4 Retail
- 1.5 Others
- Component
- 2.1 Hardware
- 2.2 Software
- 2.3 Services
- Geography
- 3.1 APAC
- 3.2 North America
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Entertainment- The Pos Terminals Market refers
to the sale and usage of point-of-sale (Pos) systems in businesses.
These systems facilitate transactions between merchants and
customers, streamlining the payment process. The market continues
to grow as more businesses adopt digital payment methods, enhancing
customer convenience and efficiency. Additionally, the integration
of mobile Pos systems and contactless payment options further
expands the market's reach. Overall, the Pos Terminals Market is an
essential component in modern business transactions.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The Pos Terminals Market encompasses a wide range of solutions,
including Fixed and Mobile POS Terminals, catering to various
Consumption Areas such as Electronic Appliance stores, Wireless
Devices retailers, Rental Cabs, and Remittance centers. Brands and
fresh market entrants leverage these technologies to facilitate
Accounting, Sales Tracking, and Inventory Management in their
businesses. Online Transactions and Inventory Tracking are key
functions supported by Payment Technologies integrated into
Mobile-based POS Terminals. Contactless payment solutions have
gained significant traction in the market, offering convenience and
safety to customers. Growth strategies for Pos Terminal providers
focus on enhancing functionality, expanding partnerships, and
improving user experience.
Market Research Overview
The Pos Terminals Market refers to the industry that provides
point-of-sale (POS) systems and technologies for businesses to
process customer transactions. These systems enable merchants to
accept various payment methods, including credit and debit cards,
mobile wallets, and digital currencies. The market is driven by the
increasing adoption of digital payments and the need for businesses
to offer seamless and efficient transaction processing.
Additionally, advancements in technology, such as contactless
payments and artificial intelligence, are fueling innovation in the
POS terminal market. The market caters to various sectors,
including retail, hospitality, healthcare, and finance, among
others. The use of POS terminals is essential for businesses to
manage their sales, inventory, and customer data effectively.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- End-user
-
- Entertainment
- Hospitality
- Healthcare
- Retail
- Others
- Component
-
- Hardware
- Software
- Services
- Geography
-
- APAC
- North America
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
View original content to download
multimedia:https://www.prnewswire.com/news-releases/pos-terminals-market-size-is-set-to-grow-by-usd-54-9-billion-from-2024-2028--growth-in-end-user-demand-for-pos-terminals-boost-the-market-technavio-302187929.html
SOURCE Infiniti Research, Inc.