Point-of-Sale Terminal Market (2022-2029)
Point-of-Sale Terminal Market is projected to reach $152.5 billion by 2029, at a CAGR of 9.9% from 2022 to 2029. Based on volume, the global point-of-sale terminals market is projected to reach 687.4 million units by 2029, at a CAGR of 12.0% during the forecast period.
- Published
- Sep 2022
- Pages
- 230
- Format
- PDF + Excel
- Report ID
- MRICT - 104673
- Base year
- 2021
- 2029 · FORECAST
- $152.5B
- 2029
- $152.5B
- CAGR 2022–2029
- 9.9%
2021 baseline · 2022–2029 forecast at 9.9% CAGR · hover a bar for the value
Key highlights
In 2022, the POS Hardware Segment is Expected to Dominate the Point-of-sale Terminals Market
In 2022, the Android-based POS Terminals Segment is Expected to Dominate the Point-of-sale terminal market
The Retail Segment is Expected to Dominate the Point-of-sale terminals market
Asia-Pacific: The Fastest-growing Regional Market
Report summary
| Particulars | Details |
|---|---|
| Base Year | 2021 |
| Estimated Year | 2022 |
| Forecast Period | 2022–2029 |
| Market Size (2029) | USD 152.50 billion |
| CAGR (2022–2029) | 9.9% |
| Format | PDF, Excel & Cloud Portal · 230 pages |
| Segments Covered | By Component: POS Hardware Mobile POS Terminals, Fixed POS Terminals · By Operating System: Android-based POS Terminals, Windows-based POS Terminals, Other Operating Systems (MAC and iOS) · By End User: Retail, Hospitality, Healthcare, Transportation, Sports & Entertainment, Government, Utilities, Other End Users (Warehouse and Education) |
| Countries Covered | North America (Canada), Europe (U.K, Germany, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Singapore, South Korea, Australia & New Zealand) |
| Key Companies | NCR Corporation, VeriFone, Inc., Toshiba Corporation, PAX Global Technology Limited, Elavon Inc., Castles Technology Co., Ltd., BBPOS International Limited, Block, Inc., NEC Corporation, Oracle Corporation |
Report overview
Segments covered: component, operating system, end user. Regions: North America, Europe, Asia-Pacific.
The point-of-sale terminals market is majorly driven by the growing adoption of mobile-based POS terminals, growing use of Europay, Mastercard, and Visa (EMV) Cards, and rising adoption of POS terminals in the retail and e-commerce sector. Further, increasing demand for contactless and cashless payment is expected to offer significant growth opportunities for the point-of-sale terminals market. However, data security concerns and misconceptions and lack of standardization regarding POS terminal technology restrain the growth of the market to some extent.
The COVID-19 pandemic adversely impacted the global economy. Nationwide lockdowns and social distancing norms were imposed across several countries, negatively affecting multiple industries, including the point-of-sale terminal. Uncertainty regarding the duration of the lockdowns made it difficult for the key market players to anticipate the recovery of the point-of-sale terminals market. Numerous POS terminal providers were under immense pressure across various fronts due to the COVID-19 pandemic.
However, economies are shifting their focus from responding to the pandemic to economic recovery, and hence, various growth opportunities are expected to emerge for the point-of-sale terminals market players due to the growing demand for seamless shopping experiences and the increasing adoption of smart payment solutions.
However, several businesses are exerting extensively to move the point-of-sale terminals market in the right direction. Local governments are also undertaking several relief steps to mitigate the negative impacts of the COVID-19 pandemic. As a result, the point-of-sale terminals market is expected to recover to its original track after 2023.
The increasing demand for contactless and cashless payment is expected to offer significant growth opportunities for the point-of-sale terminal market
Some key benefits of going cashless payment that attract more consumers include safety, growth in saved funds in accounts, better money management, and flexibility. The ability to make different digital payments through banking cards enables consumers to opt for cashless payment modes. Users can store their card information in digital payment apps or mobile wallets to mark cashless payments. With the rising concerns over the safety of handling cash transactions due to the COVID-19 pandemic, wholesalers and consumers are relying on contactless payment modes to avoid the risk of getting infected. Thus, major companies worldwide have started investing in POS terminals to improve customer experience, creating significant growth opportunities for the point-of-sale terminals market.
Report infographic
Table of contents
12 chapters · 113 sections · 230 pages · click to expandSegmental analysis
| Segment | Largest share (2022) | Fastest growth (2022–2029) |
|---|---|---|
| By Component | POS Hardware | — |
| By Operating System | Android-based POS Terminals | — |
| By End User | Retail | — |
By Component
- The POS hardware segment is expected to account for the largest share of the point-of-sale terminals market in 2022.
- The growing demand for wireless communication technologies, increasing data visibility through cloud POS systems, and increasing demand for contactless and cashless payments are some of the factors driving the growth of this segment.
By Operating System
- The android-based POS terminals segment is expected to account for the largest share of the point-of-sale terminals market in 2022.
- The increasing adoption of cloud-based and android POS devices and the growing adoption of wireless technologies in mobile handsets are expected to support the growth of this segment.
By End User
- The retail segment is expected to account for the largest share of the point-of-sale terminals market in 2022.
- The large market share of this segment is attributed to the rising penetration of e-commerce platforms, growing focus on contactless payments, increased adoption of in-store mobile payments, and strong growth in the global retail industry.
Geographic analysis
Asia-Pacific
Fastest growthIn 2022, Asia Pacific is expected to account for the largest share of the point-of-sale terminals market, followed by North America, Europe, Latin America, and the Middle East & Africa. However, Asia-Pacific is expected to witness rapid growth during the forecast period. The rapid growth of this region is mainly driven by the presence of prominent point-of-sale terminal key players. Besides, the growing modernization of the payment industry, rising e-commerce, virtual payment trends, and increasing prominence of SMEs are expected to help the region grow rapidly over the coming years. Asia-Pacific: The Fastest-growing Regional Market
Competitive landscape
- NCR Corporation
- VeriFone, Inc.
- Toshiba Corporation
- PAX Global Technology Limited
- Elavon Inc.
- Castles Technology Co., Ltd.
- BBPOS International Limited
- Block, Inc.
- NEC Corporation
- Oracle Corporation
Frequently asked questions
The Point-of-Sale (POS) Terminal Market involves hardware and software systems used to process customer transactions in retail, hospitality, healthcare, and other industries. These systems support cashless, contactless, and digital payments.
Cite this report
Meticulous Research. (2022). Point-of-Sale Terminal Market - Global Opportunity Analysis And Industry Forecast (2022-2029) (Report No. MRICT - 104673). Meticulous Market Research Pvt. Ltd. https://www.meticulousresearch.com/product/point-of-sale-terminal-market-5357