Hyderabad, July 18, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Southeast Asia POS Terminal Market Report (2023-2028)," the market is estimated at USD 3.70 billion in 2023. It is expected to register a CAGR of 15.73% during the forecast period.
POS terminals help businesses complete sales transactions and store, capture, and share those data. The adoption of POS terminals has grown due to their increased return on investment and convenience. Integrating CRM and financial solutions into POS terminals has empowered businesses with better revenue and inventory management. Governments in the Southeast Asia region are thriving to secure transactions from financial fraud, positively impacting the POS terminal market. Mobile POS systems are gaining more popularity in the region.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 3.70 billion |
| Market Size (2028) | USD 7.69 billion |
| CAGR (2023-2028) | 15.73% |
| Study Period | 2018-2028 |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Rising online payments. |
| Partnerships from foreign players. |
Who are the Top Companies in the Southeast Asia POS Terminal Market?
The Southeast Asian POS terminal market is moderately fragmented. Local and international players are investing more in the region to attract and retain more customers. The subscription-based pricing model in the software segment is increasing the competition in the market.
The significant players in the Southeast Asian POS terminal market with the majority share in 2023 are,
- Xilnex
- Auto Count Sdn Bhd
- iMetrics Pte. Ltd
- AZ Digital Pte. Ltd
- Samsung Electronics Co. Ltd
- NCR Corporation
- Toshiba Tec Corp.
- HP Development Company LP
- Bindo Labs Inc.
- Shopify Inc.
- Qashier Pte Ltd
- StoreHub Sdn Bhd
Other Reports That Might Be of Your Interest:
- Point of Sale (POS) Terminal Market Report - The global POS terminal market is expected to grow from USD 92.23 billion in 2023 to USD 139.83 billion by 2028, at a CAGR of 8.68% during the forecast period (2023-2028).
- China POS Terminals Market Report - China's POS terminals market is expected to register a CAGR of 5.23% over the next five years.
Key Highlights from the Southeast Asia POS Terminal Market Report:
Growth in the Retail Segment
- Retail stores face several challenges in customer retention. POS terminals can offer them features like sales reporting, inventory management, and customer analytics to overcome these hurdles.
- Online consumer spending is predicted to rise significantly in Southeast Asia, driven by the growth of the digital economy.
- Indonesia, the Philippines, and Malaysia offer great opportunities in the online marketplace.
Rapid Growth in Singapore
- Singapore is a leader in payment innovations. POS card payments are rising in the country, indicating lucrative opportunities for POS terminal adoption.
- The Singaporean government promotes QR-based payments as part of its 'Smart Nation Vision.' The SGQR code is becoming the industry standard for POS transactions in the country.
What are the Latest Developments in the Southeast Asia POS Terminal Market?
- In July 2022, Shopify launched Shopify POS and integrated Wisepad 3 hardware for Singaporean retailers.
- In February 2022, Chevron Singapore Pte Ltd signed an agreement with PDI, a developer of software solutions for the convenience retail and petroleum wholesale industries. The deal is to install cloud-based PDI POS solutions in many Asian countries with the Chevron retail network.
Mordor Intelligence has Segmented the Southeast Asia POS Terminal Market Based on Component, Type, End-User Industry, and Country.
- By Component (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Hardware
- Software and Services
- By Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Fixed Point-of-Sale Terminals
- Mobile/Portable Point-of-Sale Terminals
- By End-user Industry (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Entertainment
- Hospitality
- Healthcare
- Retail
- Other End-user Industries
- By Country (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Singapore
- Indonesia
- Vietnam
- Malaysia
- Other Southeast Asian Countries
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Southeast Asia POS Terminal Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
- Denmark POS Terminals Market Report - The Danish POS terminals market is expected to register a CAGR of 10.7% over the next five years.
- Hungary POS Terminal Market Report - The Hungarian POS terminal market is expected to register a CAGR of 13.87% over the next five years.
- Luxembourg POS Terminals Market Report - The Luxembourg POS terminal market is expected to register a CAGR of 8.1% during the forecast period.
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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