DUBLIN, September 30, 2022 /PRNewswire/ — The “Point of Sale (POS) Terminals Market” report has been added to from ResearchAndMarkets.com offer.
The Point-of-Sale Terminals market is valued at $68.20 billion in 2019 and is expected to reach US$149.35 billion by 2028, expanding at a CAGR of 9.1% from 2020 to 2028.
However, the migration of the global payments industry to more secure smart card technology is expected to lessen the impact of this challenge over the forecast period.
The point-of-sale (POS) terminal market has witnessed a dramatic turnaround and development with advancements in technology and growth in point-of-sale terminal solutions. Point-of-sale terminals are slowly and steadily migrating to digital format, with emailed receipts and electronic signature capture enabling paperless transactions. Increased adoption of credit and debit cards coupled with growing demand for POS terminals is driving the overall POS terminal market.
Additionally, advancements in payment technologies and the move towards EMV (Europay, MasterCard, Visa) chip card payment are expected to fuel market momentum in the coming years. In recent years, the POS terminal market has been plagued by privacy and security issues related to data breaches.
Purpose of the report
The purpose of this report is to provide business executives, industry investors and industry participants with in-depth information to enable them to make informed strategic decisions regarding opportunities in the global Point of Sale Terminals market. of sale (POS).
Overall, the research study provides a holistic view of the global Point of Sale Terminals market, growth, market size, and estimates for the period from 2020 to 2028, keeping in mind the factors mentioned above.
Product segmentation analysis
With the proliferation of smartphones, tablets and other personal mobility devices, mobile POS terminals have grown in popularity. Mobile POS solutions should complement and not replace traditional/fixed POS terminals, increasing the functionality of traditional POS solutions.
In 2019, fixed POS terminals outnumbered mobile POS terminals in terms of revenue and volume, accounting for more than 55% of global market revenue. However, the market for mobile POS terminals has witnessed a significant increase due to the superior benefits offered such as mobility, lower installation costs and better return on investment compared to their traditional counterparts. As a result, the mobile and wireless POS terminal market is poised for healthy growth, growing at a CAGR of 13.1% during the forecast period.
End-Use Segmentation Analysis
Retail was the predominant end-use segment in the global point-of-sale (POS) terminal market, accounting for approximately one-third of global market revenue in 2019. It is expected to maintain its dominant position during the period of forecast 2020-2028. The growing preference for mobile point-of-sale (mPOS) solutions is expected to drive replacement demand in the retail industry.
Additionally, healthcare is expected to offer healthy growth opportunities, growing at a CAGR of 15.3% over the forecast period. The demand for point-of-sale (POS) terminals in healthcare is expected to be driven by the growing need to streamline payment practices in the healthcare industry.
Component Type Segmentation Analysis
In 2019, hardware components including tablets (typically an iPad), a smartphone paired with a credit/debit card reader, a complex terminal including a monitor, barcode readers, cash drawers, a credit and debit cards, a mouse, keyboard, and printer accounted for the majority of the market’s revenue share.
Although the hardware segment is expected to remain the largest revenue contributor to the global POS terminal market, the software segment is expected to witness comparatively higher growth during the forecast period 2020-2028. This growth can be attributed to advances in cloud computing, which has led to increased use of point-of-sale systems based on a software-as-a-service (SaaS) platform.
In 2019, Asia Pacific was the largest point-of-sale (POS) terminal market, accounting for more than 30% of global market revenue.
The POS terminal industry has witnessed a dramatic turnaround and development in recent years with the advancement in technology and the growth of mobile POS terminal solutions. Point-of-sale terminals are slowly and steadily migrating to a digital format, with emailed receipts and electronic signature capture enabling paperless transactions.
Today, a large number of software vendors develop software for point of sale systems. With the advent of mobile devices and cloud computing, point-of-sale systems based on software as a service and accessible directly from the Internet are experiencing robust growth.
The POS industry continues to grow as businesses around the world increasingly realize the value to be gained by deploying advanced POS systems. Low initial and installation costs and the availability of rental options in most cases should support healthy growth in the years to come. These dramatic changes in the POS industry and system capabilities have had a dramatic impact on how POS vendors work with their customers.
Market Snapshot: Global Point of Sale (POS) Terminal Market
- Global point-of-sale (POS) terminals market, by product, 2021 (USD billion)
- Global point-of-sale (POS) terminal market, by end use, 2021 (USD billion)
- Global point-of-sale (POS) terminal market, by component, 2021 (USD billion)
- Global point-of-sale (POS) terminal market, by geography, 2021 (USD billion)
- Global point-of-sale (POS) terminals market, by impact of COVID-19, 2020 (USD billion)
- Key Investment Proposition by Geography, 2021
- Competitive analysis
- Key industry strategies
- Analysis by level 2021 compared to 2030
- Key purchase criteria
- Key case reports
- Scenario analysis
- Optimistic estimates and analyzes
- Realistic estimates and analyzes
- Pessimistic estimates and analyzes
- Market profiling
- Sales and marketing plan
- Heptalysis analysis
- Critical investigation of business problems through Five Whys root cause analysis and relevant solutions
- Key Market Findings
- Strategic recommendations
- Verifone Systems Inc.
- Ingenico SA
- PAX Technology Ltd.
- NCR Company
- MICROS Systems Inc. (Oracle Corporation)
- Panasonic Company
- Toshiba Company
- Samsung Electronics Co.Ltd.
- Cisco Systems Inc.
For more information about this report visit https://www.researchandmarkets.com/r/ko3hn9
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SOURCE Research and Markets