The global Point-Of-Sale (POS) Terminal’s market accounted for USD 80.8 Billion in 2020 and is expected to reach USD 155.6 Billion by 2028, growing at a CAGR of 8.2% from 2021 to 2028.
Market Overview
The global Point-Of-Sale (POS) Terminal’s market accounted for USD 80.8 Billion in 2020 and is expected to reach USD 155.6 Billion by 2028, growing at a CAGR of 8.2% from 2021 to 2028.
Point of Sale (POS) terminals is a hardware and software combined machine that permits easier transactions for merchants and customers. These POS terminals are equipment that performs sales transactions and card payment processing. They are generally utilized in business operations and are combined with computer terminals to accomplish daily operations. The terminals are used for a variety of functions like customer analysis, financial transaction management, and inventory management, among others.
Increasing government initiatives toward promoting a cashless economy are likely to impact the market expansion. For instance, the Singapore government’s Smart Nation initiative aims at achieving a cashless economy and promoting mobile payments. The Monetary Authority of Singapore has been working toward the development of a Unified Point-of-Sale (UPOS) terminal, allowing a merchant to simply accept cashless payments including contactless or mobile payments. Similarly, the Digital India program of the Indian government aims to rework India into a cashless and digitally empowered economy.
Toshiba Corporation, Hewlett-Packard Company, Samsung company Ltd, and VeriFone Systems Incorporation are a number of the key vendors of point of sale terminals across the planet. These players across the point of sale (POS) terminals market are focusing aggressively on innovation, also as on including advanced technologies in their existing products. Over the approaching years, they're also expected to require up partnerships and mergers & acquisitions as their key strategy for business development states the purpose of sale (POS) terminals market study.
COVID-19 Impact Analysis:
The ongoing COVID-19 pandemic undesirably impacted the POS terminal's market share in 2020. The closure of producing facilities of component and staple suppliers caused supply chain disruptions for players operating within the POS market. Also, increased usage of Google and Apple Pay claims led to a reduced need for a payment terminal to conduct the payment transaction.
Growth Factors
The thriving e-commerce sector and growing trend among the end-users to travel for cashless online financial transactions are projected to get more demand for point of sale terminals over the approaching years. Apart from this, mounting product preferences across myriad sectors like healthcare, manufacturing, retail, government, and warehouse are anticipated to reinforce the purpose of sale (POS) terminals market scope over the years to return. Increasing security concerns and low product awareness among the tiny businesses can destructively influence the point of sale (POS) terminals market development within the years ahead.
Report Scope:
Report Attribute | Details |
---|---|
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
Segment Analysis Preview
The point-of-sale terminal market is segmented based on the product, region, component, and application. Based on the application, the retail segment is poised to watch high growth during the forecast timeframe. The necessity for a robust and centralized payment system has accelerated the adoption of multiple POS terminals among large retail chains, departmental stores, and supermarkets. These terminals enable retailers to access their stores remotely and continue payment operations within the absence of supervision. The increased specialization in improving the consumer shopping experience has also driven the usage of POS terminals among retailers. POS terminals provide retailers the power to raised manage their inventory and understand the sales performance that draws customers.
Based on product, the fixed product segment dominated the market and accounted for more than 60% of the worldwide revenue share in 2020. Fixed POS terminals are preferred mainly by large-scale vendors thanks to high procurement and installation costs, which have currently contributed to the market growth. The mPOS segment is predicted to expand at the fastest CAGR from 2021 to 2028. These terminals allow simple payments during busy hours, avoiding loss of sales thanks to delays, and helps in improving customer satisfaction.
By component, the POS system hardware and software are improved and upgraded over years to make sure secure transaction and portability. POS providers have increased investments in end-to-end encryption technology to secure payment gateways that might build customer trust and help in impelling the merchandise demand. Additionally, multifunctional software integrated with a POS system would offer safe payment, customer data analysis, and employee information storage facility to the end-user. The merchandise demand is additionally boosted by its capability to act as a strong employee management tool to watch employee performance and create a contented workforce.
Based on region, North America has been leading the worldwide point of sale (POS) terminals market and is anticipated to continue in the dominant position in the years to come, states the point of sale (POS) terminals market study. The rising demand for the product in retail and entertainment sectors along with the rise in adoption of this payment technology in the region is the main factor behind the dominance of the North America point of sale (POS) terminals market.
Key Market Players & Competitive Landscape
Some of the key players profiled in the report include Cisco Systems Inc., MICROS Systems Inc., Hewlett-Packard Company, Panasonic Corporation, Toshiba Corporation, PAX Technology Limited, Samsung Electronics Co., Ltd., NEC Corporation, VeriFone Systems Inc, and others
The global Point-Of-Sale (POS) Terminal’s market is segmented as follows:
By Product
By Component
By Application
By Region
List of Figures
FIG NO. 1. Market Attractiveness Analysis, By Product
FIG NO. 2. Market Attractiveness Analysis, By Component
FIG NO. 4. Market Attractiveness Analysis, By Region
FIG NO. 5. Global Point-Of-Sale (POS) Terminals Market Revenue, 2016 – 2028 (USD Billion)
FIG NO. 6. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 7. Market Revenue Share, By Product, 2020 & 2028
FIG NO. 8. Global Point-Of-Sale (POS) Terminals Market for Fixed POS Terminal, Revenue (USD Billion) 2016 – 2028
FIG NO. 9. Comparative Revenue Analysis of Point-Of-Sale (POS) Terminals Market for Fixed POS Terminal, By Country, 2020 & 2028
FIG NO. 10. Global Point-Of-Sale (POS) Terminals Market for Wireless and Mobile POS Terminal, Revenue (USD Billion) 2016 – 2028
FIG NO. 11. Comparative Revenue Analysis of Point-Of-Sale (POS) Terminals Market for Wireless and Mobile POS Terminal, By Country, 2020 & 2028
FIG NO. 16. Market Revenue Share, By Component, 2020 & 2028
FIG NO. 17. Global Point-Of-Sale (POS) Terminals Market for Hardware, Revenue (USD Billion) 2016 – 2028
FIG NO. 18. Comparative Revenue Analysis of Point-Of-Sale (POS) Terminals Market for Hardware, By Country, 2020 & 2028
FIG NO. 19. Global Point-Of-Sale (POS) Terminals Market for Software, Revenue (USD Billion) 2016 – 2028
FIG NO. 20. Comparative Revenue Analysis of Point-Of-Sale (POS) Terminals Market for Software, By Country, 2020 & 2028
FIG NO. 24. Market Revenue Share, By Application, 2020 & 2028
FIG NO. 25. Global Point-Of-Sale (POS) Terminals Market for Retail, Revenue (USD Billion) 2016 – 2028
FIG NO. 26. Comparative Revenue Analysis of Point-Of-Sale (POS) Terminals Market for Retail, By Country, 2020 & 2028
FIG NO. 27. Global Point-Of-Sale (POS) Terminals Market for Hospitality, Revenue (USD Billion) 2016 – 2028
FIG NO. 28. Comparative Revenue Analysis of Point-Of-Sale (POS) Terminals Market for Hospitality, By Country, 2020 & 2028
FIG NO. 29. Global Point-Of-Sale (POS) Terminals Market for Healthcare, Revenue (USD Billion) 2016 – 2028
FIG NO. 30. Comparative Revenue Analysis of Point-Of-Sale (POS) Terminals Market for Healthcare, By Country, 2020 & 2028
FIG NO. 29. Global Point-Of-Sale (POS) Terminals Market for Entertainment, Revenue (USD Billion) 2016 – 2028
FIG NO. 30. Comparative Revenue Analysis of Point-Of-Sale (POS) Terminals Market for Entertainment, By Country, 2020 & 2028
FIG NO. 31. Global Point-Of-Sale (POS) Terminals Market Revenue Share, By Region, 2020 & 2028
FIG NO. 32. North America Point-Of-Sale (POS) Terminals Market Revenue, 2016 - 2028 (USD Billion)
FIG NO. 33. Porter’s Five Forces Analysis for Global Point-Of-Sale (POS) Terminals Market
FIG NO. 34. PEST Analysis for Global Point-Of-Sale (POS) Terminals Market
FIG NO. 35. Pricing Analysis for Global Point-Of-Sale (POS) Terminals Market
FIG NO. 36. Value Chain Analysis for Global Point-Of-Sale (POS) Terminals Market
FIG NO. 37. Company Share Analysis, 2019
FIG NO. 38. Radar Determinant Chart, 2019
FIG NO. 39. Company Strategic Developments – Heat Map Analysis
FIG NO. 40. STMicroelectronics NV Business Segment Revenue Share, 2020 (%)
FIG NO. 41. STMicroelectronics NV Geographical Segment Revenue Share, 2020 (%)
FIG NO. 42. Market Channels
FIG NO. 43. Marketing Channel Development Trend
FIG NO. 44. Growth in World Gross Product, 2008-2018
FIG NO. 45. Research Methodology – Detailed View
FIG NO. 46. Research Methodology
List of Tables
TABLE NO. 1. Global Point-Of-Sale (POS) Terminals Market: Snapshot
TABLE NO. 2. Quarterly Point-Of-Sale (POS) Terminals Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Point-Of-Sale (POS) Terminals Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
TABLE NO. 6. Global Point-Of-Sale (POS) Terminals Market for Fixed POS Terminal, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 7. Global Point-Of-Sale (POS) Terminals Market for Wireless and Mobile POS Terminal, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 8. Global Point-Of-Sale (POS) Terminals Market for Hardware, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 9. Global Point-Of-Sale (POS) Terminals Market for Software, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 10. Global Point-Of-Sale (POS) Terminals Market for Retail, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 11. Global Point-Of-Sale (POS) Terminals Market for Hospitality, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 12. Global Point-Of-Sale (POS) Terminals Market for Healthcare, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 13. Global Point-Of-Sale (POS) Terminals Market for Entertainment, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 14. Global Point-Of-Sale (POS) Terminals Market for Others, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 15. Global Point-Of-Sale (POS) Terminals Market Revenue, By Region, 2016 – 2028 (USD Billion)
TABLE NO. 16. North America Point-Of-Sale (POS) Terminals Market Revenue, By Country, 2016 – 2028 (USD Billion)
TABLE NO. 17. North America Point-Of-Sale (POS) Terminals Market Revenue, By Product, 2016 – 2028 (USD Billion)
TABLE NO. 18. North America Point-Of-Sale (POS) Terminals Market Revenue, By Component, 2016 – 2028 (USD Billion)
TABLE NO. 19. North America Point-Of-Sale (POS) Terminals Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 20. U.S. Point-Of-Sale (POS) Terminals Market Revenue, By Product, 2016 – 2028 (USD Billion)
TABLE NO. 23. U.S. Point-Of-Sale (POS) Terminals Market Revenue, By Component, 2016 – 2028 (USD Billion)
TABLE NO. 24. U.S. Point-Of-Sale (POS) Terminals Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 25. Canada Point-Of-Sale (POS) Terminals Market Revenue, By Product, 2016 – 2028 (USD Billion)
TABLE NO. 26. Canada Point-Of-Sale (POS) Terminals Market Revenue, By Component, 2016 – 2028 (USD Billion)
TABLE NO. 27. Canada Point-Of-Sale (POS) Terminals Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 28. Mexico Point-Of-Sale (POS) Terminals Market Revenue, By Product, 2016 – 2028 (USD Billion)
TABLE NO. 29. Mexico Point-Of-Sale (POS) Terminals Market Revenue, By Component, 2016 – 2028 (USD Billion)
TABLE NO. 30. Mexico Point-Of-Sale (POS) Terminals Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 31. Drivers for the Point-Of-Sale (POS) Terminals Market: Impact Analysis
TABLE NO. 32. Restraints for the Point-Of-Sale (POS) Terminals Market: Impact Analysis
TABLE NO. 33. Major Buyers of Point-Of-Sale (POS) Terminals
TABLE NO. 34. Distributors/Traders List of Point-Of-Sale (POS) Terminals
TABLE NO. 35. Global Point-Of-Sale (POS) Terminals Market, Company Market Revenue, 2016 – 2019 (USD Billion)
TABLE NO. 36. Global Point-Of-Sale (POS) Terminals Market, Company Y-o-Y Growth, 2017 – 2019 (USD Billion)
This report is based on in-depth qualitative and quantitative analyses of the global Point-of-Sale (POS) Terminals market. Zion Research has collected and analyzed key data belong to the global Point-of-Sale (POS) Terminals market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Point-of-Sale (POS) Terminals across the world has been calculated through primary and secondary research.
Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Point-of-Sale (POS) Terminals industry. Primary research makes up the major source of data collection and validation.
Primary Research
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary Research
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Point-of-Sale (POS) Terminals market.
Models
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
The point of sale (POS) terminal is a combination of hardware and software which allows retail locations to accept card payments without updating cash registers to read cards directly. It is an electronic device that is used to process card payment at any retail location. Installation cost of point of sale terminals depends on the size of the business. Small business merchants may have to pay rent for the terminal along with an additional fee on per transaction.
POS read information of customer’s credit and debit card then check whether sufficient fund is available in the account or not. After that transfer, the fund from customer’s account to seller’s account and then records the transaction and provides a print receipt. POS terminal offers various benefits such as simplification of the accounting process, easy to look up past transactions, the creation of purchase orders, old fashioned faster old-fashioned cash registers, It also helps to cut down on user errors. These different benefits offered by POS terminals are the key drivers of this market growth. Additionally, high adoption of POS terminal in many sectors such as retail, healthcare, warehouse/distribution, government, manufacturing, and others help to drive the point-of-sale terminal market. However, security concern associated with this technology can impact the growth of the market.
The point of sale terminals market is segmented on the basis of product, component, region and application. Product segment includes fixed POS terminal&wireless and mobile POSterminal. Wireless and mobile POS is dominating segment as it helps business to improve operational efficiency and increase revenue through faster order processing, improved order accuracy, increased productivity and more efficient customer checkout.Wireless and mobile POS terminal was followed by fixed POS terminal due to its maximum durability.
On the basis of component segment point of sale terminals market segmented as hardware and software. These are the key components which are used in the point-of-sale (POS) terminal. Due to increasing demand from retail businesses and hospitality the POS software segment is expected to reveal high growth over the forecast period.Application segments of the market include retail, hospitality, healthcare, warehouse, entertainment and others.
Key industry participants in global Point of sale terminals market include Cisco Systems, Inc., MICROS Systems, Inc., Hewlett-Packard Company, Panasonic Corporation, Toshiba Corporation, PAX Technology Limited, Samsung Electronics Co., Ltd., NEC Corporation, and VeriFone Systems Inc.
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The global Point-Of-Sale (POS) Terminals market was valued at USD 80.8 Billion in 2020.
The global Point-Of-Sale (POS) Terminals market is expected to reach USD 155.6 Billion by 2028, growing at a CAGR of 8.2% between 2021 to 2028.
Some of the key factors driving the global Point-Of-Sale (POS) Terminals market growth are Increasing demand for cashless and contactless payments and the need for employee and customer management, inventory tracking, and online & in-store sale unification have boosted product adoption.
Regionally, North America has been leading the worldwide point of sale (POS) terminals market and is anticipated to continue in the dominant position in the years to come, states the point of sale (POS) terminals market study.
Some of the major companies operating in the Point-Of-Sale (POS) Terminals market are Cisco Systems Inc., MICROS Systems Inc., Hewlett-Packard Company, Panasonic Corporation, Toshiba Corporation, PAX Technology Limited, Samsung Electronics Co., Ltd., NEC Corporation, VeriFone Systems Inc, and others
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