Hyderabad, July 20, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Point of Sale (POS) Terminal Market Report (2023-2028)," the market is estimated at USD 92.23 billion in 2023. It is expected to register a CAGR of 8.68% during the forecast period.
POS systems store, capture, share, and export data related to sales transactions. Modern POS terminals reduce costs significantly. These systems can also provide business intelligence as they have evolved to integrate financial solutions and CRM. The POS terminal market is growing due to the return on investment they offer and the ease of access.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 92.23 billion |
| Market Size (2028) | USD 139.83 billion |
| CAGR (2023-2028) | 8.68% |
| Study Period | 2018-2028 |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| 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 | Growing adoption of POS systems in various industries. |
| Increased demand for streamlined transaction processing. | |
| Technological advancements. |
Who are the Top Companies in the Global Point of Sale Terminal Market?
The market is significantly fragmented, with the presence of many players. These players are investing large amounts of money in R&D activities to introduce innovative payment technologies. Strict government regulations and policies in several countries are expected to make the market more competitive.
The significant players in the global POS terminal market are,
- iMetrics Pte Ltd
- Samsung Electronics Co. Ltd
- Ingenico SA
- VeriFone System Inc.
- Micros Retail Systems Inc. (Oracle)
- HP Development Company LP
- Panasonic Corporation
- Bindo Labs Inc.
- NEC Corporation
- PAX Technology
- Casio Computer Co. Ltd
- NCR Corporation
- Newland Payment Technology
- NEXGO (Shenzhen Xinguodu Technology Co. Ltd)
- Toshiba Global Commerce Solutions
- Fujitsu Ltd
- Qashier PTE Ltd
- Diebold Nixdorf
- NCR Corporation
- Cow Hills Retail BV
- Ctac NV
- Agilysys Inc.
- GK Software SE
- Infor Inc.
- Aptos Inc.
- PCMS Group Ltd
- Cegid Group
- Toshiba Tec Corporation
Other Reports That Might Be of Your Interest:
- Hong Kong Payments Market Report - The Hong Kong payments market size is expected to grow from USD 136.26 billion in 2023 to USD 179.44 billion by 2028, at a CAGR of 5.66% during the forecast period (2023-2028).
- Japan Real-Time Payment Market Report - The Japanese real-time payment market size is expected to grow from USD 1.54 billion in 2023 to USD 6.35 billion by 2028, at a CAGR of 32.76% during the forecast period (2023-2028).
Key Highlights from the Global Point of Sale Terminal Market Report:
Hardware Segment Holding the Major Market Share
- Integrated POS systems and standalone POS terminals are the primary hardware components in the POS market. All-in-One units enabled the deployment of fixed units and portable POS tablets with built-in payment terminals, scanners, and printers.
- Contactless payments and authentication features like cameras and fingerprint sensors are becoming popular. The growth of supermarket retailers has increased the demand for mobile point-of-sale solutions.
- Some countries prefer processing credit and debit cards only through payment terminals, increasing the demand for standalone units.
Growth in Asia-Pacific
- The prominence of cashless payments in various countries in Asia-Pacific is creating new opportunities in the region. POS terminals are witnessing steady growth in sectors like restaurants, grocery shops, and fuel stations.
- Players in the region are investing in innovation, strategic partnerships, and mergers and acquisitions.
- Online shoppers in Asia-Pacific are outpacing offline shoppers. E-commerce is another factor that boosts the growth of the market under study in the region.
What are the Latest Developments in the Global Point of Sale Terminal Market?
- In September 2022, Newland Payment Technology showcased its portfolio of SmartPOS and classic payment devices at Paris Retail Week 2022. These terminals can be certified against all local payment requirements.
- In August 2022, GK Software announced that the company would continue its collaboration with the Schwarz Group over the coming years to convert its point-of-sale software to the CLOUD4RETAIL open platform.
Mordor Intelligence has Segmented the Global Point of Sale (POS) Terminal Market Based on Component, Type, End-User Industry, and Geography.
- By Component (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Hardware
- Software
- 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 Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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 Global Point of Sale (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:
- Portugal POS Terminals Market Report - The Portuguese POS terminal market is expected to reach a CAGR of 10.9% over the next five years.
- Southeast Asia POS Terminal Market Report - The Southeast Asia POS terminal market size is expected to grow from USD 3.70 billion in 2023 to USD 7.69 billion by 2028, at a CAGR of 15.73% during the forecast period (2023-2028).
- Mexico POS Terminals Market Report - The Mexican POS terminals market size is expected to grow from USD 1.43 billion in 2023 to USD 2.27 billion by 2028, at a CAGR of 9.69% during the forecast period (2023-2028).
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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