Global POS Terminal Market Expected to Reach USD 121.08 Billion by 2026

18-Jun-2020 | Facts and Factors

Findings from Facts and Factors report “POS Terminal Market By Type (Mobile POS Terminal, and Fixed POS Terminal), By Deployment (0n-Premise, and Cloud-Based), By Component (Hardware, Software, and Services) and By Application (Retail, Hospitals, Restaurants, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global POS terminal market in 2019 was approximately USD 61.35 Billion. The market is expected to grow above a CAGR of 10.2% and is anticipated to reach over USD 121.08 Billion by 2026.

POS terminal, POS indicates Point of Sale. The POS terminal is an electronic gadget or tool used to process payment by card. This system is commonly used in department stores, shopping malls, restaurants, hotels, and more. This gadget is used to complete the payment process and prepare a customer's invoice. The POS usually serves as a transactional mechanism between the retailer and the customer when buying a product or a service. The POS device is used in a storefront company that also uses a computer and software to control the regular sales and credit card purchases and operations.

Browse the full “POS Terminal Market By Type (Mobile POS Terminal, and Fixed POS Terminal), By Deployment (0n-Premise, and Cloud-Based), By Component (Hardware, Software, and Services) and By Application (Retail, Hospitals, Restaurants, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" https://www.fnfresearch.com/pos-terminal-market-by-type-mobile-pos-terminal-1227

POS terminal primarily reads a customer's credit or debit card details and also checks whether the funds in a customer's bank account are adequate. It also moves the funds from the client's account to the seller's account. It documents the transaction and has the receipt printed. It's one of the quickest way and most time savings process that helps easily transfer the money. Therefore, it is expected to have a strong business opportunity in the coming years.

The global POS terminal market is driven primarily by rising digitisation penetration and increased cash-transactions across the globe. In addition, rapid growth in the adoption and production of POS applications on platforms such as Windows, Linux, UNIX, etc. is anticipated in the near future to boom demand for the POS terminal market. Strict regulations, however, along with the need for government certifications, serve as a significant market restriction. Nonetheless, emerging digitization in developing countries like India, China, Brazil, and so on would likely open new avenues for the POS terminal market in the years to come.

The global POS terminal market is divided into software, hardware, and services, depending on the different components. Software segment ranks as the market's largest portion and accounts for more than 35% of the overall market share. In addition, the services segment is the market's second-and is expected to expand at a significant pace over the coming years. The category Software is one of the fastest rising POS terminal industry components. Advancing technology and software upgrades are expected to see the high growth potential for the segment in the coming years.

The global demand for POS terminals is divided into retails, restaurants, hospitals and others based on applications. Retail was the POS terminal market's largest application segment, and is also projected to be the market's fastest-growing segment. Segment Restaurants are the second-largest industry operation. During the years to come, easy accessibility and high portability are expected to increase demand for POS terminals in the various end-use industries.

The North America led the global market for POS terminals in 2018 in terms of area. The U.S. is a big market leader in the area. In addition, its supremacy is expected to continue over the coming years. The region's expanding retail and entertainment industry is a significant factor expected to affect the region's demand growth over the next few years. Europe became the second-POS terminal market in 2019. Germany, the UK, France and Italy account for more than half of the region's combined market shares. Growing retail industry is expected to experience the region's significant demand growth.

Asia Pacific is regarded over the forecast period as a fastest growing market for POS terminals. China and India are the region's main countries with more than 40 percent of the region's market share. The productive growth in demand for POS terminal over the coming years is expected to increase in go-cashless movement in countries like India coupled with increasing digitization.

Report Scope

Some of the leading players in the global market include

Panasonic Corporation, PAX Technology Limited, Toshiba Corporation, Ingenico S.A., VeriFone Systems Inc., NEC Corporation, Cisco Systems Inc., Hewlett-Packard Company, MICROS Systems Inc., Samsung Electronics Co., Ltd., and Others.

This report segments the POS terminal market as follows:

By Type Segmentation Analysis

• Mobile POS Terminal
• Fixed POS Terminal

By Deployment Segmentation Analysis

• On-Premise
• Cloud Based

By Component Segmentation Analysis

• Hardware  
• Software
• Services

By Application Segmentation Analysis

• Hospitals
• Retail
• Restaurants
• Others

By Regional Segmentation Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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