New Delhi, Sept. 13, 2022 (GLOBE NEWSWIRE) -- Retail point of sales terminal market continue to grow in popularity across the globe, with businesses of all sizes looking to take advantage of their benefits. Recent studies have shown that there is a growing demand for POS terminals, with more than 50% of businesses surveyed indicating that they plan to increase their use of POS in the near future.
One of the main reasons for this increase in popularity is the ease and convenience that POS terminals offer. They allow businesses to streamline their transactions and save time overall, which is why so many are looking to adopt them. Additionally, POS terminals provide an accurate way to track sales and inventory, which is important for ensuring profitability.
As technology continues to evolve, so too does the retail point of sales terminal market. There are now several different models available, so businesses can find one that offers the features and functionality that they need. And thanks to their growing popularity, there are now plenty of suppliers available to meet demand.
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Global POS Terminal Installations to Reach 428 million Units by 2030
According to the Astute Analytica, by 2030, global POS terminal installations will reach 428 million. This represents a growth of 108% from 2021 and is driven by strong demand in China, India, Thailand, and Europe. North America and Asia Pacific are projected to account for almost half (47%) of all installations, due to the high penetration rates in these regions across the global retail point of sales terminal market.
The report also states that BYOD will drive an increase in the number of mobile-enabled POS terminals globally. By 2030, 82% of POS terminals will be enabled with user profiles, up from 47% in 2021. In addition, loyalty and rewards programs are also expected to develop significantly over the next few years as more merchants adopt these revenue-generating initiatives.
In India, for example, the use of POS terminals has doubled over the past five years, as the country's middle class grows and more people start shopping online. We expected India to have at least 7 million POS terminals installed by 2030. Turkey also sees a high demand in the retail point of sales terminal market, as they are seen as important tools for promoting e-commerce. In China, meanwhile, where government regulations restrict the use of online platforms such as Facebook and Google+, POS terminals are seen as a way to circumvent censorship. As per our findings, China deployed over 49,500 POS terminals in 2021.
POS terminals are also increasingly being used in Europe and North America. For example, Germany is the second largest market for Point-of-Sale systems in Europe. As of 2020, the country had around 1.18 million POS terminals. This growth is due in part to the global recession, which has forced customers to switch away from traditional methods of payment and towards more automated systems.
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Top 4 Players Hold 47.5% Share of Global Retail Point of Sales Terminal Market
According to an analysis report by Astute Analytica, the retail point-of-sale terminal (POS) market is expected to grow at a CAGR of 8.6% during the forecast period (2022-2030). The growth is mainly driven by increasing user interface (UI) requirements in retailers across various verticals, including large enterprises and retail chains.
The report on retail point of sales terminal market has profiled several players active in the global POS terminal market such as Verifone, Ingenico, BBPOS., and PAX among others. These four companies account for 47.5% of the total market share. The key vendors in this market are battling for a larger share of the pie. They are focusing on enhancing their product offerings and expanding into new geographies.
Looking at specific geographies, Asia Pacific holds a significant market share owing to the growing adoption of mobile payment solutions in that region. Asia Pacific dominates the global market with a share of 51.5%.
Moreover, Asia Pacific is expected to be the fastest growing region in the global retail point of sales terminal market, followed by North America. Europe is also expected to witness significant growth over the forecast period. Supporting these market trends are the increasing investments by key players in this sector towards development of innovative technologies and expansion of their product offerings.
As per our findings, Verifone offers POS terminals in merchant locations such as supermarkets, convenience stores, and drugstores. Ingenico provides POS terminals to merchants in retail stores, restaurants, and transportation terminals. Pax offers POS terminals to small businesses.
Astute Analytica Says, 78% of Retail Transaction to be Done by Digital Mode
E-commerce is quickly becoming the go-to shopping destination for consumers. According to a recent report on retail point of sales terminal market by Astute Analytica, there will be more retail transactions conducted through digital channels than in-person transactions by 2030. In fact, the number is projected to account 65% of all the transactions.
From the last few years, India has emerged as the fastest growing in the global point of sales terminals market. In 2021, the country done transactions worth $3 trillion, which accounts for around 40% of the total transactions takes place across the country. We expect the number is likely to reach around 71% by 2025 and surpass the value of $10 trillion by the end of same year.
The report study found that large number of retailers are prepared for this shift in consumer behavior can benefit significantly. As a result, they are partnering with e-commerce platforms to increase their visibility and reach. They are also improving customer engagement and conversion rates through personalized marketing campaigns.
In short, digital platforms such as POS terminals have enabled customers to purchase products from anywhere at any time. This means that retailers don’t have to devote as much resources to brick-and-mortar stores. In fact, some businesses in the retail point of sales terminal market have even found that they’ve made more money through POS terminals than in-person cash sales tactics.
Top Players in Global Retail Point of Sales Terminals Market
- Shopify Inc.
- PayPal Zettle
- Square
- Lightspeed
- Clover
- Sumup
- Aptos (Goldman Sachs Merchant Banking Division)
- Cegid Group
- Ctac NV
- NCR Corporation
- Flooid
- Diebold Nixdorf
- Fujitsu Ltd
- Infor Inc.
- NEC Corporation
- Qashier PTE Ltd
- Samsung Electronics Co. Ltd
- Toshiba Corporation
- VeriFone, Inc.
- Other Prominent Players
Global Retail Point of Sales Terminals Market Scope
| Report Attribute | Details |
| Market Size Value in 2021 | US$ 411.8 Billion |
| Market Outlook for 2030 | US$ 847.4 Billion |
| Expected CAGR Growth | 8.6% |
| Historic Data | 2017-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Companies Profiled | Shopify Inc., PayPal Zettle, Square, Lightspeed, Clover, Sumup, Aptos (Goldman Sachs Merchant Banking Division), Cegid Group, Ctac NV, NCR Corporation, Flooid, Diebold Nixdorf, Fujitsu Ltd , Infor Inc., NEC Corporation, Qashier PTE Ltd, Samsung Electronics Co. Ltd , Toshiba Corporation, VeriFone, Inc., Other Prominent Players |
| Segments Covered | By Product, By Component, By Industry, By Region |
| Geographies Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Customization Options | Get your customized report as per your preference. Ask for customization |
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