Point of Sale (POS) Terminals Market Size By Product (Mobile, Fixed), By Component (Hardware, Software, Service), By Technology (Biometric, Traditional), By Operating System (Windows, Linux, MAC), By Application (Restaurants, Hospitality, Healthcare, Retail, Warehouse/Distribution, Entertainment), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025

Published Date: Oct 2019  |  Report ID: GMI390  |  Authors: Preeti Wadhwani, Saloni Gankar

Report Format: PDF   |   Pages: 340   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry Trends

POS Terminals Market size was valued at USD 60 billion in 2018 and is estimated to grow at over 13% CAGR between 2019 and 2025.
 

POS Terminals Market Overview

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POS terminals refer to electronic devices used for processing card payments, inventory management, printing bills, and implementing loyalty programs across various end-use verticals such as restaurants, hospitality, healthcare, retail, warehouse/distribution, and entertainment. The product enables users to record & track customer orders and credit & debit cards and connect to other systems. Ongoing technological innovations have led to advancements in these systems, which include mobile POS with bar code scanners and cloud-based POS, increasing the efficiency of businesses by providing high Return on Investments (ROI).
 

The growing trend of contactless payments and the increasing penetration of Near Field Communication (NFC) devices in various industry verticals will drive the market growth. Several countries are shifting to cashless transactions for implementing fast, easy, and secure payment methods. For instance, by 2023, Sweden will be the world's first cashless economy. In addition, the stores are supporting the adoption of payments with contactless cards, with around 80% people in the country using digital payment methods for purchases. The emergence of cashless transactions is anticipated to positively impact the market expansion. Moreover, players in the market are launching products that support NFC payments
 

Pos terminal manufacturers market share will be driven by increasing R&D investments and the development of advanced payment solutions. Payment companies are developing innovative solutions for specific industrial purposes to increase profitability.
 

Increasing penetration of internet connectivity across several countries

The mobile POS terminals market will witness around 14% growth rate till 2025 owing to rising advancements in networking infrastructure and rising government initiatives for the development of internet connectivity. Initiatives, such as Digital India, Internet Initiative Japan, Germany’s Digital Hub Initiative, and Brasil Eficiente, are promoting the development of digitization and improving internet access across countries, resulting in increased acceptance of mobile POS solutions globally. Additionally, retailers and e-commerce giants are shifting to smartphones, tablets, and wireless devices for improving their customers’ shopping experience.
 

Growing usage of cloud computing in several industrial sectors

Software-based POS solutions accounted for around 10% of the market share in 2018. Solutions, such as cloud POS, are showcasing an increase in adoption due to rise in internet penetration and demand for online services. Ongoing technological advancements in cloud computing are encouraging several companies to develop software and applications to cater to the growing demands of customers. Vendors, such as ERPLY, Clover Network, Inc, Lightspeed POS Inc., and Shopify, are introducing highly advanced solutions in the market.
 

Rising concerns for safety and security in payment transactions

Biometric technology in the POS terminals market is poised to attain a CAGR of 17% through 2025. The industry is observing increasing concerns for security & safety of payment transactions. These systems enable the scanning of personal traits, which help in deploying a secure and authenticated payment method in comparison with traditional ones. Several manufacturers are offering biometric-enabled POS solutions including fingerprint, palm print, facial recognition, and iris scanning to safeguard users’ credentials.
 

Need to advance order management and improve customer satisfaction in the U.S. restaurant industry

POS Terminals Market Size

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The growing demand to increase the productivity of staff, improve order management, and increase customer satisfaction through faster payment processing is propelling the demand for these solutions among restaurant owners in the U.S. These solutions allow owners to manage different types of orders, menus, shifts, tables, billings, and payments. Moreover, several manufacturers are offering these solutions integrated with online food ordering portals, which are helping restaurants to expand their reach and broaden the customer base.
 

Faster, smoother and more secure Operating Systems (OS) for enhancing the performance of POS

Windows OS captured a majority of the revenue share led by its flexible operations and user-friendly interface to install and operate on computer. The system offers various benefits over other OS, such as faster processing, high compatibility, and ease of installation, and supports POS software & other peripherals. These factors are encouraging manufacturers to integrate advanced OS versions into the systems to enhance their performance.
 

Growth in digitization and favorable government policies in the APAC region

APAC Point of Sale (POS) Terminals Market

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Asia Pacific POS terminals market will observe substantial growth during the forecast timeline on account of rapid urbanization and development of industries such as retail, hospitality, and healthcare. The rise in government initiatives for digitalization is expected to further foster the market progression. Countries including India and China are projected to be major contributors to the technology owing to growing government initiatives for the acceptance of non-cash payment mode and deployment of POS terminals in rural areas to improve payment services. The adoption of digital payment transactions, such as Alipay, WeChat Pay, and mobile wallet, in the region will spur the industry demand.
 

Increasing partnership and product launch strategies among players

Some of the major companies operating in the market are Toshiba Corporation, VeriFone Systems, Inc., Panasonic Corporation., NCR Corporation, Micros Systems, Inc., PAX Technology, POS Direct Ltd., Ingenico Group, Epicor Software Corporation, NEC Corporation, Cybernet, Cegid Group, Bitel Co., Diebold Nixdorf, Bucher Industries AG, and LS Retail. Industry leaders are adopting several strategies, such as partnership & collaborations, new service launches, and product developments, to boost their offerings and expand customer base.
 

The Point of sale (POS) terminals market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue in USD and shipments in units from 2014 to 2025, for the following segments:

Market, By Product

  • Fixed POS terminals
  • Mobile POS terminals

Market, By Component

  • Hardware
  • Software
  • Service

Market, By Technology

  • Biometric
  • Traditional

Market, By Operating System (OS)

  • Windows
  • Linux
  • MAC

By Application

  • Restaurants
  • Hospitality
  • Healthcare
  • Retail
  • Warehouse/Distribution
  • Entertainment
  • Others

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • South America
    • Brazil
  • MEA
    • GCC
    • South Africa

 

Frequently Asked Questions (FAQ) :

The market size of POS terminals surpassed USD 60 billion in 2018.
The industry share of POS terminals is estimated to grow at over 13% CAGR between 2019 and 2025.
The growing demand to increase the productivity of staff, improve order management, and increase customer satisfaction through faster payment processing is propelling the demand for POS terminals and solutions among restaurant owners in the U.S. Several manufacturers are offering these solutions integrated with online food ordering portals, which are helping restaurants to expand their reach and broaden the customer base.
Biometric-based POS terminals will expand at around 17% CAGR over the forecast timespan as these systems enable the scanning of personal traits, which help in deploying a secure and authenticated payment method in comparison with traditional ones. Several manufacturers are offering biometric-enabled POS solutions including fingerprint, palm print, facial recognition, and iris scanning to safeguard users’ credentials.
The mobile POS terminals market will witness growth of around 14% owing to increasing advancements in networking infrastructure and rising government initiatives for the development of internet connectivity, as estimated by analysts at Global Market Insights, Inc.
According to this forecast report by GMI, the industry size exceeded USD 60 billion, globally in 2018 and is estimated to grow at over 13% CAGR between 2019 and 2025.

Premium Report Details

  • Published Date: Oct 2019
  • Pages: 340
  • Tables: 491
  • Charts / Figures: 39
  • Companies covered: 25
  • Countries covered: 20

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