Point of Sale (POS) terminal market sizeis expected to grow at a CAGR of over 8% during the period 2019−2025.
Key Highlights Offered in the Report:
- Aided by the growing demand in APAC countries, the global mPOS terminal market is expected to post a CAGR of over 9% in terms of revenue during 2019−2025.
- Futuristic inventions in payment, innovation in transaction technology, and the growth in the complementary security technologies are expected to boost investors’ confidence in the overall market.
- The growing emphasis on the development of hi-tech infrastructure in Europe is likely to generate immense opportunities for vendors and is expected to grow at a CAGR of around 10% by 2025.
- The retail sector offers vast absolute growth opportunities of more than $2,900 million in terms of revenue during 2019-2025.
- APAC has emerged as the largest market holding over 60% share of the global POS Terminal market in 2019.
- Vietnam is likely to grow at the largest CAGR of around 67%, with an incremental growth over $50 million during the forecast period.
- Market Size & Forecast by Revenue | 2019−2025
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product type, NFC technology, application, end-users, compliance, and geography
- Competitive Landscape – Profile of 5 key vendors and 31 other vendors
Point of Sale (POS) Terminal Market – Segmentation
- The increase in mobile payment applications and cashless transactions is driving the mPOS segment. The segment is expected to experience an absolute growth of 75% growth in terms of revenue during the period 2019–2025.
- The EMV point of sale segment is expected to grow at the highest CAGR during the forecast period. The presence of strong transaction security features in EMV cards is increasing segment growth.
- NFC-ready POS terminals are gaining immense popularity worldwide. The NFC-ready segment has witnessed a major boost as internet penetration across the globe has significantly grown in the recent decade. With the high adoption of smart devices, along with the availability of inexpensive mobile data plans, has increased the adoption of NFC-ready segments.
Market Segmentation by Product Type
- Fixed/traditional POS
- Mobile POS
Market Segmentation by Compliance
Market Segmentation by End-user Type
- Warehouse & Distribution
Market Segmentation by NFC Technology
Point of Sale (POS) Terminal Market – Dynamics
A cloud-based POS system can be directly assessed from the web through the internet and is compatible with the hardware of the POS system such as printers and cash register drawers. The vendor has accessibility to the customer’s data from any geographical location through a Wi-Fi connection. The low start-up cost of a cloud-based POS system is due to the centralization of information, independence from operating systems, and virtual accessibility of data. The retail industry is one of the largest users of cloud-based POS systems. Retailers having a chain of outlets across varied regions can access the integrated database of the customer’s profile. The cloud-based system helps in merging data across tablets and smartphone interfaces, offline and online shopping, and e-payments. The introduction of cloud-based POS systems will transform the global market during the forecast period.
Key Drivers and Trends fueling Market Growth:
- Introduction of Mobile Payment Solutions
- Penetration of EMV-compliant POS Terminals
- Increasing Demand for NFC-ready POS Systems
- Increasing Efforts to Combat POS Fraud
Point of Sale (POS) Terminal Market – Geography
With the growth in retail and entertainment sectors, banks offer cashback and discounts on the usage of credit cards, thereby increasing their preference among consumers. The usage of debit and credit through POS terminals has been growing due to the prominence of the e-commerce sector. The penetration of high-speed data networks and changing consumer behavior are some major factors, which are boosting the demand for debit and credit cards in the US market. The country has robust infrastructure such as quality restaurant chains along with technological support such as 24/7 availability of the internet, which promotes the utilization of POS terminals in the country.
Market Segmentation Geography
- North America
- South Africa
- Saudi Arabia
- Latin America
- Ingenico Group
- Fujian Newland Payment Technology
- PAX Global Technology
- Verifone Systems or Verifone
- Shenzhen Xinguodu Technology (NEXGO)
Other vendors include – Fiserv, Cybernet, SZZT Electronics, USA Technologies, VISIONTEK Linkwell Telesystems, Centerm, BBPOS, Dspread Technology, Castles Technology, Bitel Corporation, NEW POS TECHNOLOGY LIMITED (NEWPOS), Sunyard System Engineering, Spire Payments, Shenzhen Justtide, Spectra Technologies, Vanstone Electronic (Beijing) Co., Ltd, Datecs, Yarus, wizarPOS, YouTransactor, Equinox Payment, Bluebird, Worldline, Lian Yu (UIC), Panasonic Corporation, Gertec, Shenzhen Kaifa Technology Co. Ltd., Toshiba Tec Corp., M.POS, and Nayax.
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