Meticulous Research®, a global leader in market research, has unveiled a new report titled “Point-of-Sale Terminal Market by Component (POS Hardware, Services), Operating System (Android-based POS Terminal, Windows-based POS Terminal), End User (Retail, Hospitality, Healthcare, and Government) with Global Forecast to 2029.”
The latest findings from Meticulous Research® indicate that the global point-of-sale (POS) terminal market is projected to reach $152.5 billion by 2029, with a CAGR of 9.9% from 2022 to 2029. By volume, the market is expected to achieve 687.4 million units by 2029, at a CAGR of 12.0% over the forecast period.
Key drivers of the market include the growing use of mobile-based POS systems, the widespread adoption of Europay, Mastercard, and Visa (EMV) cards, and the increasing demand within the retail and e-commerce sectors. Nevertheless, issues related to data security and the lack of standardization in POS technology may pose challenges. The trend towards contactless and cashless payments in both developed and emerging markets is anticipated to create substantial growth opportunities.
To provide a thorough analysis, Meticulous Research® has segmented the market by component (POS hardware and services), operating system (Android-based, Windows-based, and others), end user (retail, hospitality, healthcare, transportation, sports & entertainment, government, utilities, and others), and region (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The report also evaluates competitors and analyzes market dynamics at regional and country levels.
In 2022, the POS hardware segment is expected to capture the largest market share, driven by demand for wireless communication, cloud POS systems, and contactless payment solutions. The Android-based POS terminal segment is predicted to dominate the operating system category due to the increasing use of cloud-based and wireless technologies.
The retail sector is set to lead among end users, bolstered by the rise of e-commerce, a focus on contactless payments, and enhanced POS terminal features such as inventory management and customer records.
Asia-Pacific is anticipated to be the largest market in 2022, fueled by significant economic growth in China, Japan, India, and South Korea, along with the modernization of payment systems and the growing prominence of SMEs.
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Key Players:
The key players operating in the point-of-sale terminals market are NCR Corporation (U.S.), Ingenico Group S.A. (France), Hewlett Packard Enterprise (U.S.), VeriFone, Inc. (U.S.), Toshiba Corporation (Japan), PAX Global Technology Limited. (China), Elavon Inc. (U.S.), Castles Technology Co., Ltd. (Taiwan), BBPOS International Limited. (China), Block, Inc. (U.S.), Cegid Group (France), Diebold Nixdorf, Incorporated. (U.S.), Newland Payment Technology (China), NEC Corporation (Japan), and Oracle Corporation (U.S.).
Key questions answered in the report-
- Which are the high-growth market segments in terms of the component, operating system, end user, and geography?
- What is the historical market for point-of-sale terminals across the globe?
- What are the market forecasts and estimates for the period 2022–2029?
- What are the major drivers, restraints, and opportunities in the global point-of-sale terminal market?
- Who are the major players in the global point-of-sale terminals market, and what share of the market do they hold?
- How is the competitive landscape?
- What are the recent developments in the global point-of-sale terminals market?
- What are the different strategies adopted by the major players in the market?
- What are the geographic trends and high-growth countries?
- Who are the local emerging players in the global point-of-sale terminals market, and how do they compete with the other players?
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