Market Scenario

The point of sale (POS) terminal market is anticipated to surpass a valuation of USD 87 billion, attaining a CAGR of 9% during the forecast period (2017-2023), Market Research Future (MRFR) unveils in a detailed report.

The point of sale (POS) terminal market has experienced a significant turnaround due to rapid technological advancements in POS terminal solutions. Soaring demand for contactless payment, coupled with the proliferation of NFC devices in the industrial ecosystem has resulted in increased adoption of integrated POS. Rising investments in technologies, like end-to-end encryption for offering secured payment solutions and convenience to customers, are likely to trigger the demand for such POS terminals in the next couple of years. Moreover, major companies across the globe are emphasizing on software due to rising penetration of smartphones, which is considered to encourage the market globally.

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POS terminals are highly embraced by industrial sectors like healthcare, retail, hospitality, BFSI, and others. Manufacturers are highly engaged in the development of payment solutions that can be used for specific industrial use. Manufacturers are thus implementing advanced technologies into the systems like barcode scanner, EMV pin pad, cash drawer, keyboard, and receipt printer. These systems allow industries to implement an entire solution in their operating centers for simplifying the procedures of billing. This is likely to contribute to the growth of the market.

On the contrary, rising security concerns and burgeoning cyber threats are likely to restrict the market growth across the globe.

Segmental Analysis

The point of sale (POS) terminal market has been segmented on the basis of product type, component, deployment, and end user.

By component, the POS terminal market is segmented into software, hardware, and services. Among these, the software segment will gain prominence owing to advancements in cloud computing, which has resulted in increased use of Software-as-a-Service platform-based POS systems.

By deployment, the POS terminal market is segmented into on-premises and on-cloud. Of these, the on-premise segment is likely to acquire a significant share. The on-premise deployment includes manual installation at the customer’s place, including electrical work, cabling and cabling permits, and software and hardware installation.

By product type, the POS terminal market is segmented into fixed terminal and wireless POS terminal. Of these, the wireless POS terminal is likely to gain prominence as it is more convenient and chargeable.

By end user, the market is segmented into warehouse, retail, restaurants, healthcare, entertainment, hospitality, and others. Of these, the retail sector is likely to gain prominence in the long run. POS terminals assist in avoiding manual errors in inventory management and financial billings, thereby offering businesses better reliability. This has further resulted in increased product demand in medium and large-scale retail stores like supermarkets and shopping malls.

Regional Frontiers

Geographically, Point Of Sale (Pos) Terminal Market spans across the Asia Pacific, North America, Europe, and Rest of the World (RoW).

Considering the global scenario, North America is estimated to exhibit significant growth in the global market, with Canada and the U.S. leading the regional market. The presence of advanced infrastructure in the region is predicted to fuel the market growth. A growing number of payment technologies, like chip transaction, Near-field Communication, and contactless payment, have highly impacted the market growth in the region. Improved security, with the help of compliance requirements like regulations from MasterCard, Europay, and Visa are fueling the POS terminal demand.

Europe is likely to exhibit a gradual growth rate, with countries like Germany, the U.K., and France leading the regional market. The growth can be credited to the existence of mature markets in the region.

The Asia Pacific, on the other hand, is likely to expand at the fastest rate, with countries like Japan, India, and China leading the regional market. Increased awareness campaigns by the government to encourage cashless economy are predicted to influence the market growth. Increased standard of living coupled with rising income, especially in developing economies like India, has resulted in flourishing retail markets. This has further triggered the demand from the POS terminal market in the region.

Competitive Dashboard

The players operating in the point of sale (POS) terminal market include Verifone Systems (U.S.), Ingenico S.A. (France), HP Company (U.S), PAX Technology (Hong Kong), Elavon (U.S.), Cisco Systems (U.S), Newland Payment Technology (China), Castles Technology (Taiwan), CITIXSYS AMERICAS (U.S.), Panasonic Corporation (Japan), NCR Corporation (U.S.), Touchbistro (Canada), Zebra Technologies (U.S.), Diebold Nixdorf (U.S.), BBPOS (Hong Kong), and Squirrel Systems (Canada).

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