Global Point of Sale (POS) Terminals Market Size, Share, Trends, COVID-19 Impact & Growth Forecast Report – Segmented By Type (Wireless POS, Mobile POS, and Fixed POS), Component (Software, Hardware, and Services), Application (Retail, Entertainment, Government, Warehouse/Distribution, Hotel, Restaurant, Transportation, and others) and Regional - (2024 to 2032)

Updated On: June, 2024
ID: 10237
Pages: 150

Global Point of Sale (POS) Terminals Market Size (2024 to 2032)

The global point of sale (POS) terminals market was valued at USD 15.64 billion in 2023. The global market is predicted to reach USD 17.34 billion in 2024 and USD 39.67 billion by 2032, growing at a CAGR of 10.9% during the forecast period.

Current Scenario of the Global Point of Sale (POS) Terminals Market

The point of sale is the time and place where a transaction takes place. A point-of-sale system is computer hardware and software that handles the transaction when a product or service is sold. It allows to store, capture, share and report data related to the sale transaction. This makes the shopping experience easier and helps speed up the checkout process, resulting in customer satisfaction. Inventory management, on-hand stocks, product availability, and pricing information are primary data acquired from the systems. Point-of-sale terminal systems have emerged from transactional terminals to systems that can be combined with enterprise CRMs and other financial solutions. Therefore, this evolution has enabled end users to have business intelligence to better manage their revenue streams and inventory. With the functional advantages of advanced point-of-sale systems, companies have replaced their traditional billing software with point-of-sale systems, ensuring the growth of the global point-of-sale terminals market. Compared to the traditional system, the improved POS systems offer greater durability and dependability, resulting in a lower ownership expense and raising the need for point-of-sale solutions in small and medium-sized businesses. The emergence of mobile points of sale (mPOS) has challenged current transaction and payment techniques due to improved features, such as a better user experience and mobility.

MARKET TRENDS

The fixed point of sale (POS) system is considered the best option for many merchants for their business activities. Therefore, there are many advantages to choosing Android-based fixed point-of-sale hardware. Zebra Technologies offers fixed point-of-sale solutions to ensure fast and accurate transactions and lanes flow seamlessly with scanners that help cashiers scan items of all sizes and are capable of reading barcodes in almost all conditions. Fixed point-of-sale solutions are used because they provide any business with the benefits of a more robust management solution, including inventory management, robust business functionality, a cash drawer, employee clocks, and the capacity to manage schedules, loyalty cards, and gifts. Additionally, this traditional form of technology has been around for decades. It has been the most recognized and accepted way in the past to process cash, check, and credit/debit card payments.

MARKET DRIVERS

The growing adoption of innovative payment options by small retailers around the world has boosted the retail market.

Retailers are widely embracing mobile and cloud-based point-of-sale technologies, which have created the need to integrate mobile and web platforms to deliver an omnichannel experience to their customers. The growth of the tourism industry has positively impacted the restaurant industry and necessitated the deployment of point-of-sale software to better serve travelers. The increasing demand for point-of-sale solutions with advanced functionality among fast-growing companies such as e-commerce, retail, restaurant industry, and entertainment is expected to drive market growth during the foreseen period.

REPORT COVERAGE

REPORT METRIC

DETAILS

Market Size Available

2023 to 2032

Base Year

2023

Forecast Period

2024 to 2032

CAGR

10.9%

Segments Covered

By Type, Application, Component, and Region

 

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

  

Market Leaders Profiled

Panasonic Corporation, Ingenico SA, MICROS Systems Inc., VeriFone Systems Inc., NEC Corporation, Hewlett-Packard Development Company LP, PAX Technology Limited, Cisco Systems Inc., Toshiba Corporation and Samsung Electronics Co. Ltd and Others.

 

REGIONAL ANALYSIS

North America dominates the global POS terminal market, followed by APAC. Asia-Pacific is expected to experience strong growth due to the increase in the number of small and medium-sized businesses and the falling cost of ownership. The existence of a huge software base in China and India can positively influence the software segment due to the spread in retail stores.

North America is determined to experience significant growth in the worldwide POS terminal market. The substantial growth of the point-of-sale market in the region can be mainly attributed to the adoption of point-of-sale terminals in various industries, especially retail, entertainment, and healthcare. The United States is an important North American POS terminal market area. For several years, different types of point-of-sale terminals have been used in points of sale across the country, resulting in the need for replacement with updated technologies.

KEY PLAYERS IN THE GLOBAL POINT OF SALE (POS) TERMINALS MARKET

  • Panasonic Corporation,
  • Ingenico SA,
  • MICROS Systems Inc.,
  • VeriFone Systems Inc.,
  • NEC Corporation,
  • Hewlett-Packard Development Company LP,
  • PAX Technology Limited,
  • Cisco Systems Inc.,
  • Toshiba Corporation 
  • Samsung Electronics Co. Ltd

RECENT HAPPENINGS IN THE GLOBAL POINT OF SALE (POS) TERMINALS MARKET

  • In November 2019, NCR Corporation announced the acquisition of POS Solutions, the leading restaurant and point-of-sale solutions provider in Central Texas. The integration of POS solutions into the NCR family aligns with its strategy of improving capabilities to offer solutions and serve customers in the growing local restaurant markets, such as Austin.
  • In January 2019, Toshiba Corporation announced that it would integrate its TCX 300 point-of-sale system across all Massachusetts sites for the Roche Bros grocery chain here. March 2019.

DETAILED SEGMENTATION OF THE GLOBAL POINT OF SALE (POS) TERMINALS MARKET INCLUDED IN THIS REPORT

This research report on the global point of sale (POS) terminals market has been segmented and sub-segmented based on the type, application, component, and region.

By Type

  • Wireless POS
  • Mobile POS
  • Fixed POS

By Component

  • Software  
  • Hardware
  • Services    

 the global point-of-sale terminal market is segmented into point-of-sale software, point-of-sale hardware, and point-of-sale services. 

By Application

  • Retail         
  • Entertainment       
  • Government          
  • Warehouse/Distribution   
  • Hotel         
  • Restaurant              
  • Transportation     

 It has applications in retail, entertainment, government, warehouse/distribution, hotels, restaurants, transportation, and others.

By Region

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East and Africa

Please wait. . . . Your request is being processed

Frequently Asked Questions

What are the primary end-user industries driving the demand for POS terminals?

Retail, hospitality, healthcare, entertainment, and transportation sectors are among the key industries driving the demand for POS terminals due to the need for efficient transaction processing and improved customer experiences.

What role does security play in the POS terminals market?

Security is a critical aspect of POS terminals, with increasing focus on compliance with data security standards such as PCI DSS and implementation of encryption technologies to safeguard sensitive payment information.

How are emerging technologies like AI and IoT influencing the POS terminals market?

Emerging technologies like Artificial Intelligence (AI) and Internet of Things (IoT) are enhancing POS capabilities by enabling personalized customer experiences, predictive analytics for inventory management, and seamless integration with other business systems.

What trends are expected to shape the future of the POS terminals market?

Trends such as the rise of omnichannel retailing, integration of biometric authentication, and adoption of blockchain technology for secure transactions are expected to significantly influence the future trajectory of the POS terminals market.

Related Reports

Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2500

Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM

Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!

REACH OUT TO US

Call us on: +1 888 702 9696 (U.S Toll Free)

Write to us: [email protected]

Click for Request Sample