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POS terminals market to reach $212.9B by 2032

Monday, September 16, 2024 — 12:45:43 (EDT)

Pune, Sept. 16, 2024 (GLOBE NEWSWIRE) -- Market Size & Growth Analysis:

According to the SNS Insider, The POS Terminals Market Size was valued at USD 107.4 billion in 2023 and is expected to reach USD 212.9 billion by 2032 and grow at a CAGR of 7.90% over the forecast period 2024-2032.

"The Transition to Digital Payments and Advanced POS Systems Driving Market Expansion"

The growing demand for seamless and secure payment transactions is significantly driving the POS terminals market. As consumers increasingly prefer digital and contactless payment methods over traditional cash transactions, businesses are compelled to upgrade their payment systems. This shift is fueled by advancements in payment technologies, including contactless payments and mobile wallets, which enhance convenience and speed for both consumers and businesses. Additionally, the rise in e-commerce and retail activities is prompting merchants to invest in advanced POS solutions that offer integrated features such as inventory management, customer relationship management, and real-time analytics. Regulatory changes and increasing emphasis on transaction security are also pushing businesses to adopt the latest POS technologies, further accelerating market growth.

"Modern POS terminals boosting efficiency and expansion while maintaining security"

The POS terminals market has experienced strong growth as they have evolved from simple transaction devices to advanced systems that combine financial services and CRM. These advanced POS solutions improve ROI, streamline transactions, and offer real-time inventory management, making them essential in industries such as retail and banking. Innovations from companies such as Aures Technologies and Sharp Electronics have decreased expenses by incorporating modular designs and fanless operation, thereby enhancing effectiveness for businesses of various scales. Nevertheless, there is still a worry about security because POS systems can be breached by hackers.

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Get a Sample Report of Point of Sale (POS) Terminal Market @ www.snsinsider.com/sample-request/1308?utm_source=Prasaad

Major Companies Listed in this Research Report are:

-Acumera, Inc. -Acrelec -AURES Group -HM Electronics -Hewlett Packard Development LP -NCR Corporation -Oracle Corporation -Payabl -POSaBIT Systems Corporation -Presto Group -Qu, Inc. -Quail Digital -Revel Systems -Toast, Inc. -Toshiba Corp. -TouchBistro -Xenial, Inc. -Diebold Nixdorf -Ingenico -VeriFone Systems, Inc.

Point-of-Sale (POS) Terminal Market Report Scope:

Report Attributes Details Market Size in 2023 USD 107.4 Billion Market Size by 2032 USD 212.9 Billion CAGR CAGR of 7.90% From 2024 to 2032 Base Year 2023 Forecast Period 2024-2032 Historical Data 2020-2022 Report Scope & Coverage Market Size Segments Analysis Competitive Landscape Regional Analysis DROC & SWOT Analysis Forecast Outlook Key Growth Drivers • Boosting Security and Consumer Trust with EMV Technology Driving Growth in POS terminals Market.

• Speeding up payments and improving point-of-sale systems with the introduction of FedNow in the POS terminals market.

The Emergence of Fixed POS Terminals and Hardware Innovations Driving Market Dominance.

By Product: In 2023, the fixed POS terminals segment dominated the market with a 62% share. Fixed POS terminals are preferred for their robust features and reliability, which make them ideal for large businesses and high-traffic environments. Companies like Aures Technologies and Sharp Electronics lead this segment with advanced models that offer comprehensive functionalities including bill printing and inventory management. The growing focus on data security and the introduction of innovative products, such as Verifone's Carbon POS system, are driving the popularity of fixed POS terminals.

By Component: The hardware segment was the largest in 2023, holding a 61% share. Hardware components like EFT-POS machines, barcode scanners, and receipt printers are crucial for effective transaction processing. Innovations in hardware, such as Ingenico’s Desk/5000 and Verifone's P400 Plus, are enhancing functionality and security, making this segment vital for market growth. The integration of hardware with advanced software solutions is also a key driver, improving overall system performance and user experience.

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Key Market Segmentation

By Product

-Fixed

Kiosks Others -Mobile

Tablet Others

By Component

Hardware Software Services

By Deployment

Cloud On-premise

By End-User

Restaurants QSR Institutional Fast Casual Healthcare Entertainment Warehouse Retail Hospitality

"The POS Terminals Market is influenced by regional dynamics with Asia-Pacific leading and North America advancing in technology."

The Asia-Pacific region led the global POS terminals market with a 32% share in 2023, driven by rapid technological adoption and a strong shift towards cashless payments. The region's expansive e-commerce growth and digital payment advancements are fueling demand. Notable developments include MYPINPAD’s collaboration with SPECTRA Technologies and the launch of Mastercard's Tap on Phone solutions, catering to small and micro-merchants. Additionally, companies like Verifone and Ingenico are introducing new POS solutions to address the evolving needs of businesses in this region.

In the year 2023, North America became a significant player in the worldwide POS terminals industry due to a strong need for advanced payment technologies such as contactless and NFC. Major U.S. retailers like Walmart and Target depend on POS systems for intricate transactions, aided by strict regulations and the adoption of digital payments. Square and Clover are at the forefront of innovative payment solutions, showcasing the impact of the region on worldwide payment trends.

Recent Developments

In January 2024, Acumera, Inc. is scheduled to unveil the Acumera Reliant Platform at the NRF 2024 Conference and Expo.The Acumera Reliant Platform is specifically created for retail establishments. Retailers always have access to important applications to stay competitive in the fast-changing retail industry.

In September 2023, POSaBIT Systems Corporation, a provider of point-of-sale systems, released POSaBIT POS 2.0. The POSaBIT POS 2.0 system is a versatile, flexible, and easy-to-use option that can adjust to evolving market conditions.

In June 2023, The FinTech company introduced a new point-of-sale (POS) solution that allows businesses to accept payments from online and offline sales using one terminal, improving its omni-channel payment services for in-store purchases from retailers

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Key Takeaways

The report provides a thorough analysis of the POS terminals market, covering recent trends, growth drivers, and emerging technologies. It helps companies refine product development and marketing strategies, stay competitive with the latest advancements like contactless payments and integrated CRM features gain valuable insights into the strategies of key market players for better competitive positioning.

TABLE OF CONTENTS – Key Points Analysis

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

5.1 Key Vendors and Feature Analysis, 2023

5.2 Performance Benchmarks, 2023

5.3 Integration Capabilities, by Software

5.4 Usage Statistics, 2023

6. Competitive Landscape

7. Point-of-Sale (POS) Terminal Market Segmentation, by Product

8. Point-of-Sale (POS) Terminal Market Segmentation, by Component

9. Point-of-Sale (POS) Terminal Market Segmentation, by Deployment

10. Point of Sale (POS) Terminal Market Segmentation, By End-use

11. Regional Analysis

12. Company Profiles

13. Use Cases and Best Practices

14. Conclusion

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Source: Company press release.