Global Point-Of-Sale Terminal Market Insights Forecasts to 2032
- The Point-Of-Sale Terminal Market Size was valued at USD 87.32 Billion in 2022.
- The Market is Growing at a CAGR of 7.6% from 2022 to 2032.
- The Worldwide Point-Of-Sale Terminal Market Size is expected to reach USD 181.65 Billion by 2032.
- Asia-Pacific is expected to Grow the fastest during the forecast period.
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The Global Point-Of-Sale Terminal Market is expected to Reach USD 181.65 Billion by 2032, at a CAGR of 7.6% during the forecast period 2022 to 2032.
A Point-of-Sale (POS) Terminal is an electronic device that enables merchants to process sales transactions, manage inventory, and generate reports. It usually consists of a computer or tablet device, a cash register or card reader, and software that allows merchants to perform various business operations efficiently. POS terminals have replaced traditional cash registers in most retail and hospitality settings due to their ability to accept multiple forms of payment, including credit and debit cards, mobile payments, and contactless payments. They can also provide insights into customer behavior and preferences, help merchants track inventory levels, and manage customer data. POS systems have become essential tools for modern businesses to improve operational efficiency, reduce errors, and provide a seamless customer experience.
This research report categorizes the market for the point-of-sale terminal market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the point-of-sale terminal market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the point-of-sale terminal market.
Global Point-Of-Sale Terminal Market Report Coverage
|Market Size in 2022:||USD 87.32 Billion|
|Forecast Period:||2022 – 2032|
|Forecast Period 2022 – 2032 CAGR:||7.6%|
|022 – 2032 Value Projection:||USD 181.65 Billion|
|Historical Data for:||2019-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||120|
|Segments covered:||By Product, By Component, By Deployment, By End-Use, By Region.|
|Companies Covered:||Verifone, Ingenico Group, Toshiba Global Commerce Solutions, NCR Corporation, PAX Technology, Fujitsu Limited, Square Inc., Revel Systems, Shopify Inc., Lightspeed POS Inc., Toast Inc., Upserve Inc., Heartland Payment Systems, Vend Limited, TouchBistro Inc., Harbortouch Payments, ShopKeep, Clover Network Inc.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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There are several drivers of the Point-of-Sale (POS) Terminal market, including the increasing adoption of cashless payment methods, the need for better inventory management, and the rise of omnichannel retailing. Other drivers include the demand for mobile POS systems, the growth of e-commerce, and the need for faster and more efficient checkout processes. Additionally, the integration of advanced technologies like Artificial Intelligence (AI), Near Field Communication (NFC), and Radio Frequency Identification (RFID) is driving the POS Terminal market forward. Finally, the increasing emphasis on data security and compliance with Payment Card Industry (PCI) standards is also driving the adoption of POS systems.
There are some restraints to the Point-of-Sale (POS) Terminal market, including the high cost of installation and maintenance, especially for small and medium-sized businesses. Other restraints include the need for constant software updates and hardware upgrades, which can be expensive and time-consuming. Security concerns, such as the risk of cyber-attacks and data breaches, also pose a significant challenge. Additionally, the lack of standardization and compatibility issues with different payment systems can make it difficult for businesses to implement a seamless checkout experience. Finally, the emergence of alternative payment methods, such as digital wallets and cryptocurrencies, could potentially reduce the demand for POS terminals.
- In 2022, the fixed segment accounted for around 63.5% market share
On the basis of product, the global point-of-sale terminal market is segmented into fixed and mobile. The fixed segment is dominating with the largest market share in 2022, due to its widespread adoption in various industries, including retail, hospitality, and healthcare. Fixed POS systems are more robust and offer more features than mobile or tablet-based systems, making them suitable for larger businesses with complex operations. Additionally, fixed POS systems are more reliable and offer faster processing times than mobile systems. The emergence of cloud-based POS solutions has further increased the demand for fixed POS systems, as they can be easily integrated with cloud-based platforms for enhanced functionality and ease of use.
- In 2022, the hardware segment dominated the market with more than 61.3% revenue share
Based on components, the global point-of-sale terminal market is segmented into hardware, software, and services. Out of this, the hardware is dominating the market with the largest market share in 2022, due to its essential role in processing transactions and managing inventory. The hardware components of a POS system, including cash registers, card readers, and barcode scanners, are necessary for the smooth operation of retail businesses. Additionally, the hardware segment includes the essential components of mobile and fixed POS systems, including tablets, computers, and printers. With the increasing adoption of digital payments and the emergence of new technologies like AI and IoT, the demand for advanced hardware components in POS systems is expected to further increase in the coming years
Regional Segment Analysis of the Point-Of-Sale Terminal Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
North America dominated the market with more than xx% revenue share in 2022.
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Based on region, North America has dominated the Point-of-Sale (POS) Terminal market due to several factors. The region has a large and mature retail industry, with a high level of technology adoption, making it an attractive market for POS solutions. Moreover, the growing adoption of cashless payment methods, such as credit and debit cards, has fueled demand for POS terminals in the region. Additionally, the strong presence of major players in the market, such as Verifone and Ingenico, has contributed to the growth of the industry. Finally, the increasing adoption of mobile POS systems and the integration of advanced technologies in POS solutions are expected to drive further growth in the North American market.
The report offers the appropriate analysis of the key organizations/companies involved within the global point-of-sale terminal market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Companies:
- Ingenico Group
- Toshiba Global Commerce Solutions
- NCR Corporation
- PAX Technology
- Fujitsu Limited
- Square Inc.
- Revel Systems
- Shopify Inc.
- Lightspeed POS Inc.
- Toast Inc.
- Upserve Inc.
- Heartland Payment Systems
- Vend Limited
- TouchBistro Inc.
- Harbortouch Payments
- Clover Network Inc.
Key Target Audience
- Market Players
- Government Authorities
- Consulting and Research Firm
- Venture Capitalists
- Value-Added Resellers (VARs)
- In August 2022, GK Software announced the extension of its partnership with the Schwarz Group for the next several years, during which the two entities will collaborate to migrate the group's point-of-sale software to the open platform, CLOUD4RETAIL. This platform has been designed to cater to one of the most significant point-of-sale (POS) installations in Europe's food retail industry.
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global point-of-sale terminal market based on the below-mentioned segments:
Point-Of-Sale Terminal Market, By Product
Point-Of-Sale Terminal Market, By Component
Point-Of-Sale Terminal Market, By Deployment
Point-Of-Sale Terminal Market, By End-Use
Point-Of-Sale Terminal Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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