Point-Of-Sale Terminals Market:
The GMI Research’s latest analysis reveals that the Point-Of-Sale Terminals Market is slated to register a significant CAGR over the forecast period. This is attributed to the rising advancements in networking infrastructure, growing internet connectivity, development of advanced payment solutions by manufacturers, and increasing demand for mobile point of sale terminals in these end-use industries.
Point-Of-Sale Terminals Market’s leading Manufacturers:
- NCR Corporation
- Lightspeed POS Inc.
- Samsung Electronics Co. Ltd.
- Hewlett Packard Enterprise Development LP
- Seiko Epson Corporation
- Infor, Inc.
- Ingenico Group
- Cisco Systems, Inc.
- Panasonic Corporation
- VeriFone, Inc.
Point-Of-Sale Terminals Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The strong demand for contactless and cashless payments at a global level is a key driver contributing to the growth of the global point-of-sale terminals market. Moreover, the rising advancements in networking infrastructure, growing internet connectivity, development of advanced payment solutions by manufacturers are fuelling the demand for POS terminals in the upcoming years. Furthermore, several benefits provided by the POS terminals, including ease to use, keeping track of inventory, mobility, safe payment, low cost of deployment, customer data analysis, quick invoicing and payment, and storing employee information, are projected to support the growth of the point-of-sale terminals market share in terms of revenue. Additionally, the high adoption of point-of-sale terminals from numerous sectors like healthcare, retail, hospitality, and entertainment due to the growing customer preference for card-based transactions, the increasing demand for mobile point of sale terminals in these end-use industries, and the adoption of network-connected smart devices will further propel the growth of the point-of-sale terminals market during the forecast period. On the other hand, stringent regulations, including extensive government certifications, penalties for security breaches in EPOS systems, and protocols for securing customer records, will further hinder the growth of the market. Furthermore, growing data privacy and security concerns is one of the major factors that is expected to hamper the growth of the POS terminals market.
Component Segment Drivers
Based on component, the software is predicted to rise at a higher CAGR over the forecast period due to the increasing utilization of software-as-a-service (SAAS) platforms for POS terminals and the advancements in cloud computing. In addition to this, the development of advanced software solutions and growing requirement for updating the POS software for performing various tasks like barcode scanning, inventory management, data restoring and backup features, and customer data analysis, among other functionalities will further stimulate the market growth.
Type Segment Drivers
Based on the type, mobile of sale terminal is projected to increase at a faster CAGR in the coming years due to its several beneficial properties, such as scalability, higher portability, shorter checkout and return lines, improved customer experience, minimal setup, and easy payment authentication. Additionally, the rising application of mobile POS terminals equipped with near field communication (NFC) technology is another factor that will have a positive influence on the growth of the market due to the advantages of highly secured and contactless payment options.
Point-Of-Sale Terminals Market Segmentation:
Segmentation by Component:
- Hardware
- Software
- Services
Segmentation by Type:
- Fixed Point of Sale Terminals
- Mobile Point of Sale Terminals
Segmentation by End-Use Industry:
- Entertainment
- Hospitality
- Healthcare
- Retail
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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