Point Of Sale Terminals Market to Surpass 181.5 Billion by 2030 Drives Due to the Increase in the Adoption of Demanding Payment Technologies
SkyQuest projects that the point of sale terminals market will attain a USD 181.5 billion value by 2030, with a CAGR of 8% over the forecast period (2023-2030). Governments in the region have implemented measures to promote a cashless economy, recognizing the benefits of digital payments in fostering transparency, reducing the shadow economy, and enhancing financial inclusion in the point of sale terminals market.
Westford, USA, July 14, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the point of sale terminals market is experiencing a surge in demand from various end-use industries. The need for efficient and secure payment solutions has become paramount with the growth of retail, hospitality, healthcare, and transportation sectors. POS terminals offer a convenient and reliable means of processing transactions as businesses strive to streamline operations and enhance customer experiences.
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- Pages – 242
- Tables – 59
- Figures – 75
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The point of sale terminal is an essential electronic device for processing card payments across various industries, including hospitals, pharmacies, resorts, restaurants, hotels, gas stations, and retail stores. As businesses aim to provide convenient payment options to their customers, the demand for POS terminals has witnessed significant growth in the point of sale terminals market.
Prominent Players in Point Of Sale Terminals Market
- Ingenico Group
- Verifone Systems, Inc.
- Toshiba Corporation
- PAX Global Technology Limited
- NCR Corporation
- Diebold Nixdorf, Incorporated
- Fujitsu Limited
- NEC Corporation
- Panasonic Corporation
- HP Inc.
- MICROS Systems Inc.
- Samsung Electronics Co., Ltd.
- Cisco Systems, Inc.
- Hisense Co., Ltd.
- Wincor Nixdorf AG
- Oracle Corporation
- Square, Inc.
- Shopify Inc.
- Lightspeed POS Inc.
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Mobile Product Segment is Expected to Grow the Market Due to the Widespread Use of Smartphones
The mobile product segment within the POS terminal market will witness the highest CAGR during the forecast period. This growth of the point of sale terminals market can be attributed to the widespread use of smartphones and the increasing adoption of mobile point-of-sale terminals. Mobile POS terminals leverage the power of smartphones, enabling businesses to accept payments on the go.
The markets in the North America are projected to be the second-largest point of sale terminals market, experiencing significant growth. The region has witnessed an increase in the adoption of demanding payment technologies, such as contactless payments and Near Field Communication (NFC).
Hardware Segment is Expected to Dominate the Market Due to the Wide Range of Hardware Devices
The hardware segment plays a dominant role in the global point of sale terminals market. This segment encompasses a wide range of hardware devices essential for managing day-to-day business tasks. These hardware devices are necessary components of the fixed terminal system, enabling businesses to process transactions and manage their operations efficiently.
Regional markets in the Asia Pacific emerged as the dominant region in the point of sale terminals market. The region’s retail industry has experienced significant growth due to rising wages and increasing living standards, particularly in emerging markets such as India and China.
A comprehensive analysis of the major players in the point of sale terminals market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in the Point Of Sale Terminals Market
- Ingenico S.A. and BharatPe recently announced a strategic partnership to revolutionize payment and commerce services for Indian merchants. The collaboration between the two companies aims to drive the adoption of point-of-sale (POS) devices in India, providing advanced payment solutions to merchants across the country. By leveraging Ingenico’s expertise in payment technology and BharatPe’s extensive network and knowledge of the Indian market, the partnership aims to offer merchants seamless and secure payment options, helping them enhance their businesses and meet customers’ evolving needs.
- Samsung Electronics recently unveiled an innovative solution called the Samsung Kiosk, designed to provide customers with contactless ordering and payment capabilities. The Samsung Kiosk is an all-in-one solution that offers easy installation options and features a protective coating, ensuring durability and reliability.
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Key Questions Answered in Point Of Sale Terminals Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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