Increasing demand for cashless and contactless payments, the unification of online and in-store sale, employee and customer management drives the demand for Point-of-Sale (POS) Terminal market
Business intelligence and its increasing importance alongwith IOT applications is expected to help grow the Global POS market and it is expected to reach above USD 119 billion by 2025. The payment methods are changed and innovative ways are introduced for payments in recent times. It all started with a few payment options and is still expanding to many options driving the global POS terminal market.
Speed is an important attribute of POS terminals. Software and Hardware work in sync to achieve faster operations which are critical for daily business processing. Near Field Communication (NFC), EMV cards, and swipe cards are accepted in this market as payment options. E-wallets are expecte to be at the centre of these radical transformations in the global POS terminals market. Customer preferences are changing and customers now prefer on paying through cards, e-wallets than carrying cash. It also helps them to get convenience of not carrying the cash. Software and hardware are combined in the new technology and new products. It provides a better synchronization between POS terminals, customer devices, and banks.
There is an increased need of better and robust infrastructure to make efficient use of POS terminals. Hardware segment of the global point of sale market is dominating the market at this moment in terms of revenue share in 2019. There are different types of POS used depending on the applications. For example at the large retail or food stores, wireless and touch screen POS are usual preferred for the ease of moment of customers, goods, and billing merchant. At the same time small businesses will use mobile POS (M-POS) and prefer for ease of use and also gives rise to the overall point of sale market.
The report also throws light on various aspects of the global POS terminal by assessing the market using value chain analysis. The report covers several qualitative aspects of the POS terminal industry in market drivers, market restraints and key industry trends. Furthermore, the report provides an in-depth assessment of the market competition with company profiles of global as well as local vendors.
The global POS terminal market has strong competition among the well-established and new emerging players. These market players target to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
The global POS terminal market is a wide range to North America, Europe, APAC, South America, and the Middle East & Africa. North America is considered a mature market in the POS terminal storage, owing to an outsized presence of an organization with the availability of technical expertise and advanced IT infrastructure. The US and Canada are the highest contributory countries to the expansion of the POS terminal market in North America.
The major players of the global POS terminal market are Ingenico Group, VeriFone Systems Inc., PAX Technology, Shenzhen Zhengtong Electronics Co Ltd, Fujian Newland Computer Co, Nexgo Inc., Cybernet Manufacturing, Inc., New POS Technology Limited, Panasonic Corporation Toshiba, and more. The POS terminal market is fragmented with the existence of well-known global and domestic players across the globe.
Segment Overview of Global Point-of-Sale Terminals (POS) Market
Component Overview, 2018-2025 (USD Billion)
- Hardware
- Software
- Services
Technology Overview, 2018-2025 (USD Billion)
- Fixed
- Mobile
Type Overview, 2018-2025 (USD Billion)
- Counter-top
- Smart POS
- M-POS
- Integrated POS
Application Overview, 2018-2025 (USD Billion)
- Restaurants
- Hospitality
- Healthcare
- Retail
- Warehouse
- Entertainment
- Others
Regional Overview, 2018-2025 (USD Billion)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Africa
- South America
- Brazil
- Rest of South America