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
- 2024-10-03
- 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
Why to buy this Report?
The report provides quantitative and qualitative aspect for the market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in the market, these companies are bifurcated into niche players, the leaders and major contenders.
The companies are analyzed in terms of following factors such as:
- Business Model
- Production Capacity, Revenue, Sales, Gross Margin
- Key Business Strategy
- SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the end user in taking a key decision within the business:
- Company Share Analysis from 2018-2022
- Company Analysis by Revenue and Sales
- Company Production Capacity, Gross Margin
- Company Share Analysis by Application/End Use
- Company Share Analysis by Product/Specification
Quality Assurance Process
- We Market Research’s Quality Assurance program strives to deliver superior value to our clients.
We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
- Project kickoff meeting with client
- Conduct frequent client communications
- Form project steering committee
- Assign a senior SR executive as QA Executive
- Conduct internal editorial & quality reviews of project deliverables
- Certify project staff in SR methodologies & standards
- Monitor client satisfaction
- Monitor realized value post-project
Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
}})
Select a license type that suits your business needs
US $3499
Only Three Thousand Four Hundred Ninety Nine US dollar
- 1 User access
- 15% Additional Free Customization
- Free Unlimited post-sale support
- 100% Service Guarantee until achievement of ROI
US $4499
Only Four Thousand Four Hundred Ninety Nine US dollar
- 5 Users access
- 25% Additional Free Customization
- Access Report summaries for Free
- Guaranteed service
- Dedicated Account Manager
- Discount of 20% on next purchase
- Get personalized market brief from Lead Author
- Printing of Report permitted
- Discount of 20% on next purchase
- 100% Service Guarantee until achievement of ROI
US $5499
Only Five Thousand Four Hundred Ninety Nine US dollar
- Unlimited User Access
- 30% Additional Free Customization
- Exclusive Previews to latest or upcoming reports
- Discount of 30% on next purchase
- 100% Service Guarantee until achievement of ROI