POS Terminal Market Expected to Surpass a Valuation of

DUBAI, United Arab Emirates, May 18, 2022 (GLOBE NEWSWIRE) — According to POS terminal industry analysis by Future Market Insights (IMF), the demand recorded in the market will grow at a CAGR of 9.4% from 2022-2032.

The report also forecasts the market to break above a valuation of ~US$ 73.7 Bn by the end of 2022. According to the IMF, the growing demand for near field communication (NFC) technologies has positively increased the demand for point-of-sale terminal systems. Point of sale terminal systems have become important in the payment process and the automation of business tasks.

Using wireless POS terminals helps streamline payment processes and gives staff the flexibility to transact anywhere. However, challenges with cashless payments include digital literacy, affordable gadgets, low trust in mobile wallets, and risk of fraud.

Healthcare, retail and catering are the main industries using POS terminals to easily manage payments. Due to digital transformation, the POS terminal is gradually transforming the market. Moreover, instant receipts, convenience of use, cashless, reduced risk of failed or canceled transactions are the major benefits of POS terminal from the customer’s perspective.

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List of Main players covered by point of sale terminal market are:

  • Cisco Systems, Inc.
  • Emerge Mobile (Pty) Ltd.
  • Equinox Payments, LLC
  • Hewlett-Packard Development Company LP
  • Ingenico SA
  • iVeri Payment Technologies (Pty) Ltd
  • Micros Systems, Inc.
  • Miura Systems Ltd.
  • NCE Society
  • NCR Company
  • Panasonic Company
  • PAX Technology Ltd.
  • Samsung Electronics Co., Ltd.
  • Toshiba Company
  • Vectron systems
  • Verifone Systems, Inc.
  • Wincor Nixdorf International
  • Yoco Technologies (Pty) Ltd

Highlights: Point of Sale Terminal Market

  • By component, the POS terminal segment is expected to account for the largest share of 61.0% in the global demand for point-of-sale terminals in 2032.
  • By Type, Fixed POS segment is expected to lead the market with the share of 84.3% in 2032 in the global point-of-sale terminal market.
  • By application, POS adoption in healthcare is expected to grow at a CAGR of 12.7% between 2022 and 2032, while the retail segment currently dominates the market share.
  • North America is expected to dominate the market followed by Europe in 2022. Asia-Pacific is expected to become the fastest growing region between 2022 and 2032.
  • The market in India is expected to grow at a CAGR of 16.0% until 2032.
  • In France, sales are expected to grow at a CAGR of 13.2% over the forecast period.

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“Due to the outbreak of COVID-19, sectors like retail, healthcare and other industries tend to adopt cashless payments. This has further encouraged POS terminal vendors to increase production to meet growing demand around the world,” says the IMF analyst.

Adoption of Contactless Payments Drives POS Terminal Market Growth

Customers can make contactless payments by simply waving their mobile phone in front of the payment readers. Making a contactless payment is easier and more convenient compared to card payments. This is because it is both faster and more secure than PIN technology as it instantly delivers encrypted data to the point-of-sale gadget.

Contactless payments are made possible by NFC and EMV technology, which uses radio frequency to allow a smartphone and wireless cards to connect to a payment reader when in close proximity. Contactless payments offered by Apple, Samsung and Google are extremely secure as they are protected against fraud by many layers of protection.

Amid the COVID-19 pandemic, users are increasingly opting for contactless payments, as notes and cards can spread the virus at the time of purchases. This is further driving the adoption of contactless payments, which in turn is driving market growth.

POS System Security Challenges Hampering POS Terminal Market Growth

Point-of-sale (PoS) data breaches by cybercriminals primarily attack to steal customers’ personally identifiable information (PII) such as credit card information, dates of birth, government ID numbers, addresses personal information, medical records, phone numbers, financial information, email addresses, usernames, passwords and other personal information.

Preventing leakage of sensitive and confidential consumer information poses a huge challenge for POS systems, restraining the growth of the market.

More Valuable Insights into the Point of Sale Terminals Market

IMF’s POS Terminals Industry Research Report is segmented into four main sections – by Component (POS Terminals, POS Software, (Cloud-Based, On-Premise) and Services (consulting services, integration and implementation, and support and maintenance), type (fixed POS and portable/mobile POS), application (restaurants, hospitality, healthcare, retail, warehouse/distribution , entertainment and others) and region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America), to help readers understand and assess the lucrative opportunities in the demand outlook for terminals point of sale.

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Detailed Table of Contents:

  • Preface
  • Executive Summary – Global Point of Sale Terminal Market
  • Market overview
    • Market definition
    • Macroeconomic factors
      • World GDP Indicator – For Major Economies
      • Global ICT expenditure (millions of US dollars)
    • Market Factor Analysis
      • Forecast factors
      • Ecosystem/value chain analysis
      • Market Dynamics (Growth Influencers)
        • Drivers
        • Constraints
        • Opportunities
        • Impact analysis of drivers and constraints
    • Market opportunity assessment – ​​by region (North America/ Europe/ Asia-Pacific/ Middle East and Africa/ South America)
      • By component
      • By type
      • By app
    • Competitive scenario and trends
      • Point-of-sale terminals market concentration rate
        • List of emerging, prominent and leading players
      • Mergers and acquisitions, expansions
    • Use cases on point of sale terminals
    • POS Terminal Analysis, By Device Type
    • POS Terminals Market COVID-19 Impact Analysis
      • Growth analysis before COVID-19 (2017-2019)
      • Short and long term impact on the market
    • Pricing Model Analysis
    • Market Outlook
  • Global Point of Sale Terminals Market Analysis and Forecast
    • Market Revenue Analysis (Million US$), 2017-2032
      • Historical growth trends, 2017-2021
      • Current and future forecast trends, 2022-2032
  • Global POS Terminal Market Analysis, By Component
    • Main findings and trends
    • Historical Market Size Analysis (USD Million), by Component, 2017-2021
    • Current and future forecasts (in millions of US dollars), by component, 2022-2032
      • Point of sale terminals
      • point of sale software
      • Services
        • Consulting services
        • Integration and implementation
        • Support & Maintenance

TOC Continued…

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About Future Market Insights (IMF)
Future Market Insights (ESOMAR certified market research organization and member of the Greater New York Chamber of Commerce) provides in-depth insights into the driving factors that increase demand in the market. It reveals opportunities that will drive market growth in various segments on the basis of source, application, sales channel, and end-use over the next 10 years.

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