The global Point-Of-Sale Terminals market size is expected to be worth around US$ 230.91 billion by 2030, according to a new report by Vision Research Reports.
The global Point-Of-Sale Terminals market size was valued at US$ 80.08 billion in 2020 and is anticipated to grow at a CAGR of 16.9% during forecast period 2021 to 2030.
Many industries, such as manufacturing, automobile, entertainment, restaurant, and hospitality, have lost their business due to strict social distancing rules and complete lockdown imposed in most of the countries to control the spread of the novel coronavirus. The slumped businesses affected the product demand across the industries.
For instance, Europe and the Middle East regions are tourist hotspots that have suffered losses due to international travel restrictions. However, the retail and healthcare sectors are expected to exhibit product demand for point-of-sale (POS) terminals for The market is expected to regain its foothold across industries by 2021; also, Mobile Point-of-Sale (mPOS) and contactless payment terminals are in high demand currently as they contribute to the effort of containing the spread of coronavirus.
The market is anticipated to grow substantially over the forecast period owing to rising product demand in various applications, such as Customer Relationship Management (CRM), reporting, payment processing, among others. The decline in the trend of carrying cash for shopping and the need for understanding customer purchase patterns has further boosted product adoption.
The fixed product segment dominated the market and accounted for more than 61% of the global revenue share in 2020. Fixed POS terminals are preferred mainly by large-scale vendors due to high procurement and installation costs, which have currently contributed to the market growth. Furthermore, end-users wary about cloud data storage are inclined towards installing fixed POS terminals to store data with the on-premises server. The POS system has a wide range of applications, such as supporting payments devices, printing bills, inventory management, and Customer Relationship Management (CRM).
The hardware segment emerged as the largest segment in 2020, accounting for a revenue share of more than 63%. Hardware components comprise interfaces or devices to register transaction details, such as tablets, monitors, cash drawers, receipt printers, barcode scanners, EFT-POS machines, and network devices. The fixed POS terminal involves most of the hardware components to complete the system and facilitate a complete experience of managing daily activity using the system.
The retail segment generated the highest revenue share of over 31% in 2020 and is expected to grow further at a significant rate over the forecast period. The rising adoption of modern payment options by small retailers is expected to drive the segment growth. Some of the retailers that have announced chain-wide adoption of mPOS solutions include Home Depot, Disney Stores, Target, Urban Outfits, and Nordstrom. The growth of omnichannel retailing systems for a unified shopping experience across all channels via smartphones is expected to generate a high growth avenue for the retail industry.
On-premise deployment emerged as the largest deployment segment in 2020 and accounted for over 76% of the global revenue share. On-premise deployment comprises manual installation at the customer’s premise. The installation includes cabling and cabling permits, electrical work, and hardware and software installation. As large businesses are often wary of data theft, they prefer on-premises deployed POS solutions to ensure on-premises storage of critical data.
Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period. Moreover, government initiatives to support a cashless economy are increasing the demand for POS terminals in this region. A surge in the adoption of digital payment technologies in Asia Pacific has created a pool of opportunities for mPOS in countries, such as China, Japan, and India, which is expected to restrict the regional market growth for the fixed POS terminal segment over the forecast period. However, demand from large enterprises to secure their information and ensure the processing of a large volume of customer data is helping the rise in demand for fixed POS terminals. The pandemic affected the most lucrative sectors in the region including retail, hospitality, and entertainment, leading to a decline in demand for new POS terminals. China, which is a manufacturing hub for POS terminal hardware, recovered early compared to other Asian countries, while Japan implemented control measures to avoid impact on its businesses. The remaining Asian countries are striving to revive consumer-related industries, which is expected to help increase the product demand in 2021. Moreover, low penetration and considerable unbanked population in other developing countries, such as Vietnam, Japan, South Korea, Turkey, and Thailand, are expected to provide lucrative growth opportunities to the market players.
|Market Size||US$ 230.91 billion by 2030|
|Growth Rate||CAGR of 16.9% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Product , Component , Deployment, Application , Region|
|Companies Mentioned||Ingenico Group (acquired by Worldline), NCR Corp., VeriFone Systems, Inc., PAX Technology, Inc., Fujian Newland Payment Technology Co. Ltd., Revel System, Inc., Oracle Corp., ShopKeep|
Ingenico Group (acquired by Worldline)
VeriFone Systems, Inc.
PAX Technology, Inc.
Fujian Newland Payment Technology Co. Ltd.
Revel System, Inc.
Application Outlook (Revenue, USD Million, 2016 - 2028)
The Point-Of-Sale Terminals market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Point-Of-Sale Terminals market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Point-Of-Sale Terminals market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Point-Of-Sale Terminals market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Point-Of-Sale Terminals market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Point-Of-Sale Terminals capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Point-Of-Sale Terminals by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Point-Of-Sale Terminals market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Point-Of-Sale Terminals market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Point-Of-Sale Terminals market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Point-Of-Sale Terminals industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
Point-Of-Sale Terminals market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Point-Of-Sale Terminals market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Point-Of-Sale Terminals market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Point-Of-Sale Terminals market. These factors have benefited the growth of the global market for Point-Of-Sale Terminals. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Point-Of-Sale Terminals. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Point-Of-Sale Terminals are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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