Global Point-of-Sale Terminals Market Analysis By Product (Fixed, Mobile), By Component (Hardware, Software, Services), By End-use (Restaurants, Retail, Hospitality, Healthcare, Warehouse, Entertainment, Others) & Forecast
- PUBLISHED ON
- 4/24/2023
- NO OF PAGES
- 269
- CATEGORY
- Banking & Finance
The global Point-of-Sale Terminals market was valued at USD 96. 89 billion in 2022 and expected to grow at a CAGR of 8.6% during the forecast period. Point-of-sale (POS) terminals are electronic devices used to process transactions at the time and place of sale. They are commonly used in retail stores, restaurants, and other businesses to accept payments from customers.
Report Scope
Report Attributes | Description |
Market Size in 2022 | USD 96,890 Million |
Market Forecast in 2033 | USD 109,150 Million |
CAGR % 2023-2033 | 8.6% |
Base Year | 2022 |
Historic Data | 2019-2021 |
Forecast Period | 2023-2033 |
Report USP | Production, Consumption, company share, company heatmap, company production capacity, growth factors and more |
Segments Covered | Product, Component and End Use |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | Acrelec, AURES Group, HM Electronics, Hewlett Packard Development LP, NCR Corp., Oracle, Presto Group, Qu, Inc., Quail Digital, Revel Systems, Toast, Inc., Toshiba Corp., TouchBistro, Xenial, Inc., Others, |
POS terminals typically consist of a computer, a display screen, a barcode scanner, a cash drawer, and a card reader for processing credit and debit card payments. Some POS systems also include a printer for printing receipts and other documents.
There are different types of POS terminals available in the market, including traditional wired terminals, wireless terminals, and mobile POS systems. Traditional wired terminals require a physical connection to the internet and a power source, while wireless terminals use a wireless connection to process transactions. Mobile POS systems are typically used on smartphones or tablets and can be used anywhere with a wireless connection.
POS terminals can also include software that allows businesses to manage inventory, track sales data, and analyze customer behavior. Some systems also offer integration with accounting software and other business tools.
Overall, POS terminals are an essential tool for businesses of all sizes, providing a convenient and efficient way to process transactions and manage sales data.
Covid-19 Impact:
Shift to Contactless Payments: With the pandemic, there has been a surge in contactless payments as customers are more conscious of hygiene and social distancing. Many POS systems are now equipped with contactless payment options like NFC, QR codes, and mobile wallets, enabling customers to pay without touching the POS terminal.
Increased Demand for Mobile POS: The pandemic has led to an increase in demand for mobile POS systems as businesses have shifted to outdoor or remote locations to comply with safety measures. Mobile POS systems provide greater flexibility and mobility, allowing businesses to process transactions in any location with a wireless connection.
Shortage of POS terminals: With the global supply chain disruptions caused by the pandemic, there has been a shortage of POS terminals, resulting in delayed shipments and increased prices for some models. Greater Emphasis on Hygiene: With the pandemic, businesses have placed greater emphasis on hygiene and cleanliness, and POS terminals are no exception. Many businesses are now implementing regular cleaning and disinfecting protocols for their POS terminals to maintain a safe and hygienic environment for their customers and staff. Overall, the COVID-19 pandemic has accelerated the adoption of contactless and mobile payment options and highlighted the importance of maintaining a safe and hygienic environment for businesses using POS terminals.
Market Dynamics:
Drivers:
- Convenience: POS terminals provide a convenient way for businesses to process transactions quickly and efficiently, reducing wait times for customers and improving overall customer experience.
- Increased Efficiency: POS terminals help businesses streamline their operations by automating tasks such as inventory management, sales tracking, and reporting, which can help businesses save time and reduce costs.
- Security: POS terminals are equipped with secure encryption technology, ensuring that customer data is protected during transactions, which is critical for businesses handling sensitive information like credit card data.
- Integration with Other Systems: Many POS systems are designed to integrate with other business systems such as accounting and inventory management software, providing a more comprehensive solution for businesses.
- Analytics and Insights: POS systems provide businesses with valuable data insights, such as sales trends, popular products, and customer behavior, which can be used to improve business operations and inform decision-making.
- Compliance: POS terminals ensure that businesses comply with regulatory requirements such as tax collection, inventory tracking, and reporting, reducing the risk of penalties and legal issues.
- Mobility: With the increasing trend towards mobile and remote work, mobile POS systems have become popular for businesses that require flexibility in their payment processing, such as food trucks, pop-up shops, and outdoor events.
Restraints:
- Cost: The cost of implementing a POS system can be high, especially for small businesses. This includes the cost of the hardware, software, and ongoing maintenance and support.
- Complexity: POS systems can be complex and require technical expertise to set up and maintain. This can be a challenge for small businesses that may not have dedicated IT staff.
- Integration Issues: POS systems may face integration issues with existing business systems, such as accounting or inventory management software, which can make implementation more difficult.
- Security Risks: While POS terminals are equipped with secure encryption technology, they are still vulnerable to security breaches and data theft. This can be a concern for businesses handling sensitive information like credit card data.
- Lack of Training: Employees may require training on how to use the POS system properly, which can take time and resources away from other business activities.
- Dependence on Power and Internet Connectivity: POS systems require a reliable power source and internet connectivity to function properly, which can be a challenge for businesses in areas with inconsistent power or internet access.
- Regulatory Compliance: Businesses using POS systems are subject to regulatory requirements related to taxes, inventory tracking, and reporting, which can add complexity and costs to implementation.
Regional Analysis:
North America: The North American market for POS terminals is mature and highly competitive, with a high adoption rate among businesses. Contactless payment and mobile POS systems are increasingly popular, driven by consumer demand for convenience and speed.
Europe: Europe is a major market for POS terminals, with a high adoption rate among small and medium-sized businesses. The market is characterized by a mix of traditional and modern payment methods, with contactless payments gaining popularity in recent years.
Asia-Pacific: The Asia-Pacific region is a rapidly growing market for POS terminals, driven by economic development and a shift towards electronic payments. Mobile payments are particularly popular in countries like China and India, driven by the widespread use of smartphones.
Latin America: The Latin American market for POS terminals is growing rapidly, driven by the expansion of electronic payments and financial inclusion initiatives. Mobile payments are increasingly popular, particularly in countries like Brazil and Mexico.
Middle East and Africa: The Middle East and Africa is a growing market for POS terminals, driven by the expansion of the retail and hospitality sectors. Mobile payments are gaining popularity, particularly in countries with high mobile penetration rates like South Africa and the United Arab Emirates.
Overall, the adoption and use of POS terminals varies regionally based on factors such as economic development, technology infrastructure, and cultural preferences. However, there is a general trend towards the adoption of electronic and mobile payment methods, driven by consumer demand for convenience and speed.
Competitive Landscape:
The global Point-of-Sale Terminals market is highly competitive and fragmented with the presence of several players. These companies are constantly focusing on new product development, partnerships, collaborations, and mergers and acquisitions to maintain their market position and expand their geographical presence.
• Acrelec
• AURES Group
• HM Electronics
• Hewlett Packard Development LP
• NCR Corp.
• Oracle
• Presto Group
• Qu, Inc.
• Quail Digital
• Revel Systems
• Toast, Inc.
• Toshiba Corp.
• TouchBistro
• Xenial, Inc.
• Others
Segments
By Product
• Fixed
o Kiosks
o Others
• Mobile
o Tablet
o Others
By Component
• Hardware
• Software
o On-premise
o Cloud
• Services
By End-use
• Restaurants
o FSR
Fine Dine
Casual Dine
o QSR
Drive-Thru
Others
o Institutional
o Fast Casual
Drive-Thru
Others
o Others
• Retail
o Supermarkets/Hypermarkets
o Convenience Stores
o Grocery Stores
o Specialty Stores
o Gas Stations
o Others
• Hospitality
o Spas
o Hotels
o Resorts
• Healthcare
o Pharmacies
o Others
• Warehouse
• Entertainment
o Cruise Lines/Ships
o Cinemas
o Casinos
o Golf Clubs
o Stadiums
o Amusement Parks
• Others
By Geography
• North America
o U.S.
o Canada
o Mexico
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
• Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o ASEAN
• Latin America
o Brazil
o Argentina
o Colombia
• MEA
o South Africa
o Saudi Arabia
o UAE
o Egypt
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