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The point of sale (POS) terminal market is estimated to grow at a CAGR of 8.23% between 2022 and 2027. The size of the market is forecast to increase by USD 46.07 billion. The growth of the market depends on several factors, including the growth in end-user demand for POS terminals, the increase in demand for contactless payments, and the rise in the need for self-service POS terminals.
This report extensively covers market segmentation by end-user (entertainment, hospitality, healthcare, retail, and others), component (hardware, software, and services), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Technavio categorizes the point of sales (POS) terminals market as a part of the global technology hardware, storage, and peripherals market within the overall global information technology market. The parent global technology hardware, storage, and peripherals market covers manufacturers of cellular phones, personal computers, servers, electronic computer components, and peripherals. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The growth in end-user demand for POS terminals is notably driving the market growth, although factors such as the security concerns related to the use of POS terminals may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key POS Terminals Market Driver
Significant POS Terminals Market Trend
Major POS Terminals Market Challenge
Key POS Terminals Market Customer Landscape
The 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 POS Terminals Market Customer Landscape
Vendors 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 Co. – The company offers point of sale terminals such as Chipper Mini 2, Chipper OTA, and Chipper 2X. Also, it offers end-to-end mobile POS products and solutions.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the entertainment segment will be significant during the forecast period. The use of POS terminals in the entertainment segment is expected to continue to grow as businesses look for ways to streamline their operations and offer a seamless customer experience. As technology continues to advance, POS terminals are likely to become even more sophisticated and offer new features that further enhance the entertainment experience for customers. Therefore, owing to these factors, the growth of the market in focus is expected to propel during the forecast period.
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The entertainment segment was valued at USD 26.25 billion in 2017 and continue to grow by 2021. The entertainment segment of POS terminals refers to the use of POS terminals in companies that provide entertainment services such as movie theaters, amusement parks, casinos, and sports venues. This segment uses POS terminals to process ticket sales, merchandise purchases, and food and beverage sales. Using POS terminals in the entertainment segment brings several benefits to your business, including increased efficiency and accuracy in transaction processing, the ability to track sales data and inventory levels, and the ability to offer your customers a variety of payment options. . In addition, the entertainment segment's new POS terminals could include features such as touch screens, barcode scanners, and mobile payment options, which could improve customer experience and reduce waiting times. increase. Such factors will boost the growth of the segment during the forecast period.
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APAC is estimated to contribute 46% 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. Countries such as China and India are adopting POS terminals due to the high penetration of organized retail outlets such as supermarkets and hypermarkets. In addition, China, Australia, India, and Indonesia are increasing the adoption of contactless payment methods. Factors like these could drive the adoption of his POS terminals across APAC.
Various government initiatives are taking place in different countries in APAC to improve cashless payment scenarios. Many end-users in APAC are also focusing on improving their payment experience with POS terminals. For instance, in 2020 Network for Electronic Transfers (Singapore), in collaboration with United Overseas Bank, deployed 2,000 integrated POS terminals in more than 650 retail stores across Singapore. Such an increase in POS terminal deployment among end-users is expected to boost the growth of the regional point of sale (POS) terminal market during the forecast period.
The COVID-19 pandemic led to millions of people being confined to their homes owing to the implementation of lockdown restrictions in 2020 in APAC. However, owing to large-scale vaccination drives across the region in 2021, lockdown restrictions were lifted in a large number of nations in APAC, which led to the restoration of operations across malls, supermarkets, hypermarkets, and standalone outlets. As a result of these factors, the demand and usage of POS terminals are expected to increase in the retail sector across this region, thereby POSitively impacting the growth of the market in APAC.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
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POS Terminals Market Scope |
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Report Coverage |
Details |
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Page number |
169 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.23% |
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Market growth 2023-2027 |
USD 46.07 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
7.63 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 46% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Vendors, Market POSitioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
BBPOS International Ltd., Bitel Corp., Castles Technology Co. Ltd., Cegid SA, CitiXsys Holdings Inc., Diebold Nixdorf Inc., Elavon Inc., Fiserv Inc., Ingenico Group SA, Lightspeed Commerce Inc., NCR Corp., Newland Europe BV, Oracle Corp., PAX Global Technology Ltd., PayPal Holdings Inc., Revel Systems Inc., Squirrel Systems U.S. Inc., TouchBistro Inc., VeriFone Inc., and WInPOS Group AB |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Component
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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