Dublin, Oct. 10, 2023 (GLOBE NEWSWIRE) -- The "Wireless POS Terminals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global wireless POS terminals market size reached US$ 9.3 Billion in 2022. Looking forward, the market is projected to reach US$ 17.5 Billion by 2028, exhibiting a growth rate (CAGR) of 11.26% during 2023-2028.
A wireless POS terminal (Point of Sale) is a digital device used to process card payments in various settings, including banks, retail stores, museums, metro stations, pharmacies, and restaurants.
It consists of both software and hardware components. The software solution includes asset management, content management, and configuration solutions, while the hardware category encompasses workstations, payment terminals (such as smartphones and tablets) equipped with credit or debit card readers, and accessories like monitors, barcode scanners, receipt printers, and cash drawers.
The typical POS transaction begins with scanning the user's payment card, whether it's a debit, credit, or prepaid card. The terminal then verifies whether the available funds in the user's bank account are sufficient to complete the transaction. Once confirmed, the transaction is processed, and the terminal records the transfer, providing the user with a receipt.
The introduction of Personal Identification Number (PIN) and chip-embedded payment cards has significantly improved security in POS transactions, fostering a positive outlook for the global wireless POS terminals market.
Additionally, the increasing prevalence of wireless connectivity and the availability of peripheral devices such as scanners, card readers, and printers are driving the sales of POS terminals. These devices are known for their affordability and portability, which help reduce operational costs for retailers.
Manufacturers are also introducing ultra-portable POS systems, some as small as a credit card. Furthermore, there is a growing trend of people using their existing tablets or systems as POS terminals with specialized software, contributing to the expansion of the market.
Key Questions Answered in This Report:
- How has the global wireless POS terminals market performed so far and how will it perform in the coming years?
- What is the breakup of the global wireless POS terminals market on the basis of region?
- What has been the impact of COVID-19 on the global wireless POS terminals market?
- What is the breakup of the global wireless POS terminals on the basis of type?
- What is the breakup of the global wireless POS terminals on the basis of component?
- What is the breakup of the global wireless POS terminals on the basis of technology?
- What is the breakup of the global wireless POS terminals on the basis of industry?
- What are the various stages in the value chain of the global wireless POS terminals market?
- What are the key driving factors and challenges in the global wireless POS terminals market?
- What is the structure of the global wireless POS terminals market and who are the key players?
- What is the degree of competition in the global wireless POS terminals market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 142 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $9.3 Billion |
| Forecasted Market Value (USD) by 2028 | $17.5 Billion |
| Compound Annual Growth Rate | 11.1% |
| Regions Covered | Global |
Competitive Landscape
- Ingenico
- Verifone
- First Data
- PAX Global Technology
- NCR Corporation
- Diebold Nixdorf
- BBPOS
- Elavon
- Castles Technology
- Winpos
- Bitel
- Cegid Group
- Squirrel Systems
- Newland Payment Technology
- Citixsys Americas
- Izettle
- Revel Systems
- ShopKeep
- TouchBistro Inc.
- Vend
Key Market Segmentation:
Breakup by Type:
- Portable Countertop and Pin Pad
- MPOS
- Smart POS
- Others
Breakup by Component:
- Hardware
- POS Software and Services
Breakup by Technology:
- NFC Terminal
- Non-NFC Terminal
Breakup by Industry:
- Retail
- Hospitality
- Healthcare
- Transportation
- Sports and Entertainment
- Others
Breakup by Region:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
For more information about this report visit https://www.researchandmarkets.com/r/oroy1y
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