Point of Sale (POS) Terminal Market Worth US$ 175.2 billion by 2030

According to the Market Statsville Group (MSG), the global POS terminal market size was valued at USD 84.1 billion in 2021. It is anticipated to reach USD 175.2 billion by 2030, registering a CAGR of 8.5% during the forecast period

The Point of Sale (POS) terminal market refers to the industry that produces and sells devices used by businesses to complete transactions and process payments at the point of sale. These terminals are used in a wide range of retail and hospitality settings, allowing merchants to accept various forms of payment, including credit and debit cards, mobile payments, and cash. POS terminals play a crucial role in modern commerce by facilitating smooth and secure transactions between customers and businesses.

Key components of the POS terminal market include hardware, software, and services. Here's an overview of each:

1. Hardware: This includes the physical devices used to process payments. POS terminals can vary widely in form and functionality. Traditional terminals consist of a monitor, a card reader, a keypad, and sometimes a receipt printer. However, modern POS systems often involve more advanced hardware such as touchscreen displays, wireless connectivity, barcode scanners, and even built-in inventory management tools.

2. Software: POS software is responsible for managing transactions, recording sales data, and often integrating with other business processes like inventory management, customer relationship management (CRM), and accounting. Modern POS software can run on a variety of platforms, including traditional PCs, tablets, and smartphones.

3. Services: This encompasses everything from installation and maintenance to customer support and software updates. Many businesses opt for cloud-based POS systems, which offer the advantage of remote management, scalability, and easier software updates.

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Point of Sale (POS) Terminal Market Dynamics

The dynamics of the Point of Sale (POS) terminal market are influenced by a variety of factors, including technological advancements, changing consumer preferences, regulatory developments, economic conditions, and competitive pressures. These dynamics shape the way vendors develop and market POS solutions, and they also impact how businesses adopt and utilize these systems. Here are some key dynamics that influence the POS terminal market:

1. Technological Advancements: The POS terminal market is heavily influenced by technological innovations. Advancements in hardware (such as mobile POS devices, touchscreen interfaces, and contactless payment support) and software (such as cloud-based solutions, analytics capabilities, and integration with other business tools) drive the evolution of the market.

2. Mobile and Contactless Payments: The rise of smartphones and the demand for seamless, convenient payment experiences have driven the adoption of mobile wallets and contactless payments. This has led to a shift in POS terminal design and functionality to support these payment methods.

3. Omnichannel Retail: Consumers expect a consistent shopping experience across different channels, including in-store, online, and mobile. POS solutions are evolving to support omnichannel strategies, allowing retailers to integrate their online and offline sales, inventory, and customer data.

4. Data Analytics and Insights: Modern POS systems are equipped with data collection and analysis capabilities. Businesses can leverage these insights to make informed decisions about inventory management, marketing strategies, and customer engagement.

5. Regulatory and Security Compliance: The payment industry is subject to various regulations and security standards (such as Payment Card Industry Data Security Standard - PCI DSS) to protect customer data. POS terminal providers must continually update their solutions to meet these requirements and ensure data security.

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Market Segmentation Analysis

The study categorizes the global Point of Sale (POS) Terminal market based on equipment type, technology, type, installation method, distribution channel, application, and regions.

By Product Outlook (Sales/Revenue, USD Million, 2017-2030)

• Fixed POS Terminal

• Mobile POS Terminal

By Component Outlook (Sales/Revenue, USD Million, 2017-2030)

• Hardware

• Software

• Services

By Deployment Mode Outlook (Sales/Revenue, USD Million, 2017-2030)

• Cloud

• On-Premise

By Application Outlook (Sales/Revenue, USD Million, 2017-2030)

• Restaurant

• Hospitality

• Healthcare

• Retail

• Warehouse

• Entertainment

• Other

 By Region Outlook (Sales, Production, USD Million, 2019-2033)

• North America (Mexico, Canada, US)

• South America (Peru, Brazil, Colombia, Argentina, Rest of Latin America)

• Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)

• Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)

• The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)

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REGIONAL ANALYSIS, 2023

Based on the region, the global Point of Sale (POS) Terminal market has been analyzed and segmented into five regions, namely, North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.

North America has been a prominent market for Point of Sale (POS) Terminals due to high consumer spending on electronics and a strong demand for home entertainment systems. The United States, in particular, has a large market for Point of Sale (POS) Terminals, driven by the popularity of streaming services and the desire for immersive audio experiences.

The Asia Pacific region, including countries like China, Japan, and South Korea, has witnessed substantial growth in the Point of Sale (POS) Terminal market. Factors contributing to this growth include the rising disposable income, increasing urbanization, and the growing popularity of home theater systems among consumers in the region.

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Major Key Players in the Point of Sale (POS) Terminal Market

The global Point of Sale (POS) Terminal market is fragmented into a few major players and other local, small, and mid-sized manufacturers/providers, they are –

• Samsung Electronics Co. Ltd

• NEC Corporation

• Toshiba Global Commerce Solutions

• Hewlett-Packard Inc.

• Panasonic Corporation

• NCR Corporation

• VeriFone System Inc.

• Ingenico Group

• Fujian Newland Payment Technology Co. Ltd

• PAX Technology Inc.