EMV Point Of Sale (POS) Terminals Market Analysis APAC, North America, Europe, South America, Middle East and Africa - US, Canada, China, India, UK - Size and Forecast 2024-2028

EMV Point Of Sale (POS) Terminals Market 2024-2028:

The EMV Point Of Sale (POS) Terminals Market size is estimated to grow at a CAGR of 10.22% between between 2023 and 2028. The market size is forecast to increase by USD 6.41 billion. The growth of the market depends on several factors, including the increasing volume of e-commerce transactions spurring the use of mPOS terminals, increasing volume of e-commerce transactions spurring the use of mPOS terminals and strong value proposition for EMV card users and merchants. A POS terminal is a device that is used to make payments or carry out transactions using a debit or credit card. When a POS terminal is EMV (Europay, MasterCard, and Visa standard)-compatible, it is referred to as an EMV POS terminal.

The report offers extensive research analysis on the EVM POS terminals market with a categorization based on End-user, including retail and hospitality. It further segments the market by Product, encompassing conventional EVM POS terminals and mobile card readers. Additionally, the report provides geographical segmentation, covering APAC, Europe, North America, Middle East and Africa, and South America. Market size, historical data (2018-2022), and future projections are presented in terms of value (in USD billion) for all the mentioned segments.

What will be the size of the EMV POS Terminals Market During the Forecast Period?

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EMV POS Terminals Market Overview

Driver

Increasing focus on self-service models in the retail industry is notably driving market growth. The growth of the self-service market will drive the adoption of EMV POS terminals. The self-service market includes retail checkout systems and kiosks. A self-service kiosk is an interactive kiosk that consists of specialized software and hardware computer terminals. Currently, the EMV point of sale (POS) terminals market is witnessing the installation of bill payment kiosks to meet the growing demand for reduced waiting times and queues in places such as offices and retail stores. The adoption of self-checkout systems, including EMV POS terminals, is rising, especially in small retail stores, to reduce the volume of cash transactions and increase the adoption of cashless payments.

However, this indicates increased investments in self-checkout systems by large US retailers. Self-checkout systems reduce the level of frustration caused by long wait times, besides being very convenient. The development of self-checkout systems and their wider adoption will drive the growth of the EMV POS terminals market during the forecast period.

Trends

The emergence of biometric EMV POS terminals is an emerging trend shaping the market growth. The introduction of biometric EMV POS systems will help in more secure transactions. Another benefit of using biometric EMV POS systems is the reduction in the time taken to complete transactions. Debit or credit card transactions require significant time for completion. Biometric EMV POS terminals help in the faster and more efficient processing of transactions. With the deployment of biometric EMV POS terminals in restaurants, the checkout time can be reduced significantly. Many small-sized retailers in developing countries, such as China and India, are also adopting biometric EMV POS terminals for secure and convenient payments.

Furthermore, there is a high demand for wireless and mobile POS (mPOS) terminals among SMEs which also results in EMV point of sale (POS) terminals market expansion. Therefore, the EMV point of sale (POS) terminals market is expected to be influenced significantly by the emergence of biometric EMV POS terminals during the forecast period.

Restrain

The low transaction speed of EMV POS terminals is a significant challenge hindering market growth. It generally takes longer to accept payments using EMV POS compared with other POS terminals. The steps in the payment or transaction process are higher compared with other POS terminals, resulting in a longer check-out time. The duration is longer in cases where mPOS terminals do not have sufficient network coverage. However, this challenge is not a major concern for micro-enterprises, where the transaction volume is low. For medium and large enterprises, especially during peak business hours, the low transaction speed of EMV POS terminals has a high impact.

Moreover, in certain cases, it may discourage consumers from making a purchase in stores where the waiting time in queues is long due to low transaction speed, thus resulting in the loss of sales which may restrict Europay, MasterCard and Visa (EMV) POS terminals market growth. Thus, the low transaction speed of EMV POS terminals will negatively impact the market during the forecast period.

EMV POS Terminals Market Segmentation By End-user Segment

The market share growth by the retail segment will be significant during the forecast period. The retail sector includes hypermarkets, supermarkets, drug stores, gas stations, speciality stores, and mass merchandise stores. The sector has undergone a significant transformation in the past years because of factors such as foreign investments, increasing competition, and growing global economies. This has resulted in the increased adoption of secure payment technologies, such as EMV standards, for POS terminals. 

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The retail segment was the largest and was valued at USD 4.70 billion in 2018. The increase in organized retailing globally and the pressure to sustain competition and retain Europay, MasterCard and Visa (EMV) POS terminals market share have led to the integration of advanced EMV POS terminals to ensure safe and secure payments for transactions. These systems collect customer data and provide the required differentiation expected by retailers to serve their customers better. The technology integrated into an EMV POS terminal network is common across multiple devices. The EMV POS terminals also provide analytical and management data in the form of inventory management, competitive pricing, in-store promotions, reduced overhead and operating costs across-selling and up-selling and strong networking among stores worldwide. Thus, high demand for EMV POS terminals will drive the segment and market during the forecast period.

EMV POS Terminals Market Segmentation By Product Segment   

Conventional EMV POS terminals include fixed EMV POS terminals and handheld EMV POS terminals. Fixed EMV POS terminals The shipments of fixed EMV POS terminals are expected to decrease during the forecast period. The large EMV point of sale terminals market share of fixed EMV POS terminals in 2023 is mainly attributed to their high adoption in the retail sector. With the developments in mPOS terminals, which enable them to offer the same functions as fixed EMV POS terminals, the EMV point of sale terminals market will witness a shift in end-user preference for mPOS terminals. Handheld EMV POS terminals The rate of failure to complete transactions is higher with mPOS terminals than with fixed EMV POS terminals due to the lack of connectivity and low network speeds. mPOS terminals are not very popular in large retail outlets, where the volume of transactions is high. With advances in technology and better access to faster network speeds (4G or long-term evolution (LTE)), mPOS terminals have been gaining popularity. Technological advances help mPOS terminals provide the same analytical and management data as fixed EMV POS terminals. Retail companies are increasingly adopting multiple mPOS terminals in most outlets. The demand for mPOS terminals is expected to be higher than fixed EMV POS terminals during the forecast period.

Regional Overview

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APAC is estimated to contribute 55% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC is the most attractive market for EMV POS terminals because of its high growth potential. This is because of the growing number of retail outlets in the region. In addition, the merchants in the region attach high significance to information management and a secure and safe shopping experience for the customers. EMV POS terminals market revenue in APAC is influenced significantly by countries like China and India, where the growth opportunities for EMV POS terminals are high. Furthermore, APAC has the presence of a large number of unorganized retailers, which creates a significant potential for EMV POS terminals market growth and increases penetration of EMV POS terminals.

In addition, the increasing purchasing power of end-consumers, the large potential consumer base, and the increased sales of debit/credit cards in the region led to the increased demand for EMV POS terminals in this region. The high FDI in developing regions such as India has created roadways for many foreign companies to establish their outlets. This, in turn, is driving the demand for EMV POS terminals. The demonetization in India and the government's initiatives for the digitalization of banking activities and payment modes will drive market growth for EMV POS terminals in APAC during the forecast period.

The outbreak of the COVID-19 pandemic in 2020 resulted in millions of people being confined to their homes owing to the stringent lockdowns and social distancing measures put in place across countries in APAC. However, the implementation of mass COVID-19 vaccination drives by the governments across the region in the first half of 2021 led to the lifting of lockdowns and the resumption of normal operations by vendors and end-users in the market.

EMV POS Terminals Market Customer Landscape

The EMV POS Terminals Market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global EMV POS Terminals Market Customer Landscape

Who are the Major EMV POS Terminals Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

BBPOS International Ltd. - The company offers EMV POS terminal namely BBPOS WisePOS E.

Block Inc. - The company offers EMV POS terminal namely Square POS.

Bluebird Inc. - The company offers EMV POS terminals such as CT280 ans CT281.

The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

• Brookfield Equinox LLC
• Cantaloupe Inc
• DATECS Ltd.
• Diebold Nixdorf Inc.
• Global Payments Inc.
• NCR Corp.
• NEC Corp.
• Newland Digital Technology Co. Ltd.
• Panasonic Holdings Corp.
• PAX Global Technology Ltd.
• Shenzhen Xinguodu Technology Co. Ltd.
• Telepower Communication Co. Ltd.
• Toshiba Corp.
• U.S. Bancorp
• UIC Payworld Inc.
• VeriFone Inc.
• Worldline SA

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The EVM POS terminals market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018-2022.

• End-user Outlook
  • Retail
  • Hospitality

• Product Outlook
  • Conventional EMV POS terminals
  • Mobile card readers

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • South America
    • Chile
    • Brazil
    • Argentina 
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

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What are the Key Data Covered in this EMV POS Terminals Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2024 and 2028
• Precise estimation of the market  size and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across APAC, North America, Europe, South America, and Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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