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: Ankita Bhutani, Pallavi Bhardwaj

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




Summary Table of Contents Industry Coverage Methodology

Industry Trends

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

POS Terminals Market

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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 POS terminals market demand. 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 industry growth. Moreover, players in the market are launching products that support NFC payments. In September 2014, NCR Corporation announced the integration of Apple Pay with its POS and mobile platform offerings. The technology will help retail and hospitality customers to implement easy, safe, and secure payment methods into their operations.
 

Moreover, increasing R&D investments and the development of advanced payment solutions by manufacturers will propel the POS terminals market demand. Payment companies are developing innovative solutions for specific industrial purposes to increase profitability. In May 2018, Paytm, an Indian e-commerce payment system provider announced to invest around USD 30 million for developing and installing POS solutions at over one lakh retail stores. The devices will allow retailers to effectively manage their store inventory and business operations, resulting in enhanced market growth.
 

POS Terminals Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: Over USD 60 billion
Historical Data for: 2014 to 2017 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: 13% 2025 Value Projection: Over USD 140 billion
Pages: 340 Tables, Charts & Figures: 530
Geographies covered (20): U.S., Canada, Mexico, UK, Germany, France, Italy, Russia, China, India, Japan, South Korea, Brazil, GCC, South Africa
Segments covered: Product, Component, Technology, Operating System, Application
Companies covered (25): AURES Group, BBPOS Limited, Bematech SA, Bitel Co., Ltd., Castles Technology, Co. Ltd., Cisco Systems, Inc., Diebold Nixdorf, Incorporated, Fujian Newland Payment Technology Co., Ltd., Ingenico Group, Micros Systems, Inc., NCR Corporation, NEC Corporation, New POS Technology Limited, Panasonic Corporation, PAR Technology Corporation, PAX Technology, Posiflex Technology, Inc., Samsung Electronics Co., Ltd., Shenzhen Xinguodu Technology Co., Ltd., Square, Inc., Squirrel Systems, Hewlett-Packard, Toshiba Corporation, Touch Dynamic Inc., VeriFone Systems Inc.
Growth Drivers:
  • EMV card penetration in the U.S.
  • Surge in NFC/contactless payment in the UK
  • Stringent government regulations in Europe
  • Demonetization effect in India
  • Rising inclination towards online payments in China
  • Proliferation of RFID tagging in Japan
  • Infrastructure development in South America
  • Rising mobile POS terminal demand in Brazil
  • Flourishing retail industry vertical in the UAE
Pitfalls & Challenges:
  • Lack of reliable and advanced infrastructure
  • Data security concerns

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Increasing penetration of internet connectivity across several countries

The mobile POS terminals industry will witness growth of around 14% CAGR owing to increasing 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 adoption of mobile POS solutions globally. Moreover, retailers and e-commerce giants are shifting to smartphones, tablets, and wireless devices for improving their customers’ shopping experience. For instance, Fossil Group, an American accessories manufacturer has adopted a mobile POS system to personalize the in-store experience for its customers. This system will enable customers to process transaction on mobile devices from Apple and Windows operating systems.
 

Growing adoption of cloud computing in several industrial sectors

Global POS terminals market size, by component, 2018
Global POS terminals market size, by component, 2018

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In 2018, software-based POS solutions accounted for around 10% of the revenue share. Solutions, such as cloud POS, are witnessing a rise in adoption owing 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. For instance, ShopKeep point-of-sale systems work on iPads, tablets, and mobile devices and allow users to seamlessly integrate loyalty programs, gift cards, payments, and rewards for their customers. In addition, these systems can integrate with barcode scanners and screen terminals and provide data restoring and backup features. The software also allows providers to implement strict encryption processes for securing customer data.
 

Growing concerns for safety and security in payment transactions

Biometric-based POS terminals will expand at around 17% CAGR over the forecast timespan. The industry is witnessing 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. For instance, Ingenico Group is offering Move/2500 POS, which combines chip, PIN, and fingerprint verification authentication factors. Ongoing advancements have led to the development of more secure and advanced biometric POS systems, driving the POS terminals industry growth.
 

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

U.S. POS terminals market size, by application, 2018 & 2025 (USD Million)
U.S. POS terminals market size, by application, 2018 & 2025 (USD Million)

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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. For instance, Lightspeed is offering POS devices that are integrated with various online ordering platforms including Mobikon, Chowly, Growzer, City Hive, Inventivio, Mobi2Go, and BPL Digital Online Ordering. These systems offer reliable and secure financial transactions, improving customer experience. Such factors are driving POS terminals market growth.
 

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

Based on OS, the POS terminals market has been segmented into Windows, Linux (includes Android), and MAC. Windows OS accounted for a majority of the market share owing to 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. For instance, Windows 10 IoT Enterprise is designed to ensure faster and smoother information flows and transactions, enhancing performance and customer satisfaction.
 

Growth in digitization and favorable government policies in Asia Pacific

Asia Pacific POS terminals market size, by region, 2025 (USD Million)
Asia Pacific POS terminals market size, by region, 2025 (USD Million)

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Asia Pacific is the fastest growing region in the POS industry owing to rapid urbanization and development of industries such as retail, hospitality, and healthcare. The rise in government initiatives for digitalization is expected to further boost market growth. Countries including India and China are projected to be major contributors to the technology owing to growing government initiatives for the adoption 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 drive the industry demand.
 

Increasing partnership and product launch strategies among players

Players in the POS terminals market are adopting several strategies, such as partnership & collaborations, new service launches, and product developments, to enhance their offerings and expand customer base. For instance, in January 2017, NEC Corporation announced its partnership with 7-Eleven Inc., a Japanese and American international chain of convenience stores. Through this partnership, the company will deliver its POS devices to 8,600 stores throughout the U.S. and Canada. 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.
 

The 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:

By Product

  • Fixed POS terminals
  • Mobile POS terminals

By Component

  • Hardware
  • Software
  • Service

By Technology

  • Biometric
  • Traditional

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 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.

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