The Global POS Terminals Market accounted for USD 86.12 billion in 2021 and is projected to expand at a CAGR of 8.9% from 2022 to 2030.
A Point-of-Sale (POS) terminal is an electronic device that processes card payments in various locations, including retail stores, gas stations, hotels, restaurants, resorts, pharmacies, and hospitals. Legacy software (field servers), cloud computing terminals, mobile terminals, and self-service terminals are just a few types of POS terminals available in the market. Invoicing, inventory management, consumer and supplier order management, multi-store management, and POS security are some of the key features of a POS system. Smart POS terminals are highly reliable and provide a better user experience. Virtual POS terminals can be used without purchasing or installing additional hardware or software. It requires no maintenance and is a convenient way to manage remote payments.
A point of sale (POS) terminal, also known as a card terminal or POS machine, is an essential device in modern retail and hospitality industries. These terminals play a crucial role in processing electronic payments and facilitating seamless transactions between customers and businesses. Whether it's a small handheld device or a sophisticated countertop machine, POS terminals enable businesses to accept various payment methods, including credit cards, debit cards, and mobile wallets. With their secure and efficient features, POS terminals streamline the checkout process, enhance customer satisfaction, and provide businesses with valuable transaction data for inventory management and sales analysis.
Market Dynamics:
Drivers:
The features that are part of a POS system help increase productivity and also positively impact sales. Most features require minimal technician interaction with the system setup process. Additionally, these devices come with plug-and-play capabilities that are distributed with most pre-installed software components. In addition, it relieves the hassle that often occurs in setting up the system for users, helping small and medium-sized merchants introduce it smoothly. Additionally, ease of use provided by systems with increased efficiency drives the POS terminal market growth over the forecast period.
Restraints:
However, privacy concerns and concerns related to data leakage and misuse of information provided and printed on cards restrict target customers from choosing and fully trusting these devices and solutions presented by market operations and major POS terminal market players. Additionally, a lack of awareness of the target audience will hamper the POS terminal market operation over the forecast period ending by 2030. Additionally, many manufacturers are already struggling with losses incurred during the pandemic and cannot invest in their use. These are elaborate scales.
Key players:
Market Segmentation:
POS Terminals Market, By Product
POS Terminals Market, By Component
POS Terminals Market, By Technology
POS Terminals Market, By Operating System
POS Terminals Market, By Application
POS Terminals Market, By Region:
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North America
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U.S.
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Canada
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Mexico
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Europe
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UK
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Germany
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France
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Italy
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Spain
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Russia
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Asia Pacific
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China
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India
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Japan
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South Korea
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Australia & New Zealand (ANZ)
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Southeast Asia
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South America
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Brazil
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Argentina
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Chile
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Colombia
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MEA
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UAE
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Saudi Arabia
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South Africa
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Regional Analysis:
North America accounted for a notable market share in 2021, due to widespread awareness of POS solutions among small merchants and major retail, hospitality, and restaurant companies in the region. The emergence of advanced payment technologies such as near-field communication (NFC) and biometric payment cards are also fueling the North American market.
Asia Pacific dominated the global POS terminals market in 2021 and is expected to grow at a healthy CAGR during the forecast period. Growing government initiatives to develop centralized payment systems, growing smartphone adoption, and a surge in NFC-enabled debit and credit card launches are driving the market in the region.
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Report Metric |
Details |
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Market Size Available for Years |
2020–2030 |
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Base Year Considered |
2020 |
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Forecast Period |
2021–2030 |
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Forecast Unit |
Value (USD) |
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Segments Covered |
Offering, Technology, Application, End-User, and Region |
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Regions Covered |
North America, Europe, Asia-Pacific, and LAMEA |
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Companies Covered |
Acrelec, AURES Group, Elo Touch Solutions, HM Electronics, Inc., Hewlett-Packard Development Company, L.P., NCR Corporation, Oracle Corporation, Presto, Qu Inc., Quail Digital, Revel Systems, Toast, Inc., Toshiba Corporation, TouchBistro Inc., Xenial, Inc. |
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Market Size Estimation
The overall size of the market has been estimated and validated using both top-down and bottom-up methods. The sizes of other market subsegments have also been thoroughly estimated using these methodologies.
In the top-down technique, the market is divided into segments based on the percentage share of each segment. This method assisted in determining the size of each segment's market. The market size of each segment and its sub-segments was then divided into regional market sizes. This Approach helps mainly with the new Product Launch. It uses Multi-variate Regression Model coupled with Vendor based primary research inputs to forecast to the Market Size.
In the Bottom-Up approach, comprehensive study of key players has to be done wherein we add the market size of the major key players to understand the national market size which helps to determine the regional market size and eventually the complete market size. Companies annual report along with data from paid and unpaid resources like reports from government agencies and organizations like world bank provide the data for this approach.
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