Retail POS Terminals Market Analysis

Retail POS Terminals Market Analysis

The fixed retail point of sale terminals market segment dominated with over 65% of the revenue share in 2021 and is anticipated to grow substantially from 2022 to 2030. Increasing popularity of fixed POS solutions in traditional brick-and-mortar retail stores due to their adequate inventory management and cost-effective features will fuel the segment share. These have emerged as a more robust management solution as they offer a range of benefits, including employee time clocks, a cash drawer, and the ability to manage gift cards and loyalty programs.

The hardware component segment captured nearly 46% of the market share in 2021  . The growth of hardware sector is driven by ongoing transition in EMV liability and the surging requirement to upgrade the existing payment solutions. Moreover, the proliferating demand for energy-efficient devices, leading to the constructive efforts of major product manufacturers toward developing POS terminal hardware with low power consumption capabilities, may strengthen the industry outlook.

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In terms of application, the supermarkets/hypermarkets segment recorded an appreciable valuation in 2021 and is set to exhibit around 18% gains through 2030. The segmental expansion is backed by the fast-paced deployment of POS software in these establishments to maintain transparency in any transaction and ensure faster checkouts, elevating the overall customer experience. Equipped with a tracking facility, retail POS solutions help retailers and supermarket owners track their numerous stores inventory  in different locations. The growing emphasis on assuring customer data security and speeding up the product return processes will create new growth avenues.

The Asia Pacific retail point of sale terminals market size is projected to depict about 14% growth rate through 2030. The regional business development is led by supportive government initiatives focusing on building a digital economy and the progressive stance of the retail industry in countries such as China and India. RBI estimates reveal that the revenue share of digital or online transactions in the total volume of non-cash retail payments surged from 98.8% in 2021 to almost 99.3% in 2022. The increasing number of cashless transactions coupled with rising disposable incomes, strong economic growth, and transforming demographics will augment the industry share.