POS Terminals Market Analysis

POS Terminals Market Analysis

The mPOS Terminals market is expected to grow at a CAGR of around 14% during the forecast timeperiod. Mobile POS terminals are gaining popularity due to the ease of use and portability. These technologies allow for faster transaction times, higher sales, and increased client satisfaction. Faster transactions facilitated by mobile POS systems help to streamline operations. Improvements in product design, including RFID, screen size, battery performance, and operating system, have increased their adoption among end-use industries.
 

In terms of component, POS terminals market from the service segment is foreseen to witness growth at over 10% CAGR through the forecast timeline. The rising demand for SaaS and cloud-based solutions is anticipated to stimulate business growth and create new opportunities for vendors. As POS systems include the assimilation of hardware & software components, high-quality services ensure the smooth deployment and functioning of these systems. The equipment and software require continuous updates and management to ensure work efficiency.
 

By 2032, the Windows-based POS terminals market is projected to be worth more than USD 150 billion owing to the popularity of Windows among small businesses across different industry verticals due to budgetary constraints or limited requirements. Moreover, the need for OSS as a result of high security is fueling segment growth. As of 2023, Windows accounted for more than 55% of the desktop OS market revenue and has a strong prevalence in developing nations due to its affordability.
 

On the basis of application, the POS terminals market from retail segment is estimated to grow at more than 8% CAGR from 2023 to 2032. Retailers emphasize streamlining operations during high-traffic times, bolstering product penetration in the retail sector. Retail outlets employ electronic shelf labels with POS systems to improve customer experience and reduce waiting time. For instance, Diebold Nixdorf offers an electronic price label system that simultaneously updates prices on shelves and POS terminals.
 

North America POS terminals market is slated to garner over USD 40 billion in revenue by 2032, attributed to the significant growth of retail outlets, casinos, and restaurants, as well as the booming tourism sector, especially in the U.S. and Canada. Furthermore, the rapid adoption of advanced payment systems, along with booming urbanization and industrialization, is set to support regional market statistics through the assessment period.