- Press Release -

Fact.MR foresees that the demand for Point of Sale (POS) Terminals is projected to expand at a CAGR of 7.8% in terms of value during the period of assessment. Moreover, the report estimates that the sales point of Sale (POS) Terminals are likely to surpass US$ 180 Bn by end of 2032.

Budding ecosystems of cashless payments in developing countries are set to fuel the demand for POS terminals in retail, healthcare, and restaurants. Various application segments are witnessing heightened demand for convenient features such as invoice management, inventory management, and image scanners.

Point of sale terminal systems offers these features as additional benefits to drive market demand. Innovation and development of high-speed networks positively impact the growth of point of sale terminals in untapped markets.

Key Takeaways from the Market Study

• Global market for POS terminals likely to reach US$ 85 Bn by 2022-end
• Fixed POS terminal holds a leading share of more than 75% of revenue
• POS terminal software to experience threefold growth through 2032
• Cloud POS to expand at a stupendous 10% CAGR through 2032.
• Retail industry to account for 34% of POS terminals usage from 2022 to 2032
• U.S to experience a CAGR worth 7% throughout the assessment period
• East Asia to dominate the global market, capturing 49% revenue
• China to be an opportunistic market, slated to surge at a 9% CAGR

“Market players stand to gain sustainable growth by forging strategic partnerships with stakeholders from within various applications. Innovation of POS systems with support features for managing inventory, and employee productivity will further product demand,” says the Fact MR analyst.

Competitive Landscape

Front Runners are emphasizing capacity enhancements and global footprint expansion to leverage lucrative prospects in developing economies. Some notable developments are as follows:

• In June 2021, Samsung Electronics introduced Samsung Kiosk, an all-in-one solution that offers contactless ordering and payment capabilities. Providing customers with easy install options and a protective coating, the Kiosk is now available in 12 countries worldwide, including the United States, Canada, the United Kingdom, Ireland, France, Sweden, the Netherlands, Belgium, Spain, Austria, Australia, and Singapore.
• In July 2021, Oracle completed the acquisition of GloriaFood. The acquisition extends the Oracle MICROS Simphony Cloud POS platform by adding a global online ordering system and marketing solutions to enable restaurants of all sizes to go digital and serve customers directly through the web, mobile, and apps.

More Valuable Insights

In its latest report, Fact.MR offers an unbiased analysis of the market providing historical data for the period of 2017-2021 and forecast statistics for the period of 2022-2032.

The study divulges essential insights on the market on the basis of product (fixed POS terminal and mobile POS terminal), component (hardware, software, mining and metal fabrication) deployment (on-premise and cloud) and application (restaurants, hospitality, healthcare, retail, warehouse, entertainment and others across six regions (North America, Latin America, Europe, East Asia, South Asia & Oceania and Middle East & Africa).

Fact.MR’s Domain Knowledge in Technology

Our technology consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the technology sector. Our expertise in recognizing the challenges and trends impacting the global technology industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.

For more information, refer to our market research report or contact the PR author.

Santosh Kumar

Fact.MR

Sr. Consultant – Technology

E-mail: santosh@factmr.com