Analysis of Point of Sale (POS) Terminals market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The point of sale (POS) terminals market has garnered a market value of US$ 85 Bn in 2022, anticipated to register a positive CAGR of 7.8% in the forecast period 2022-2032 and reach a value of US$ 180.13 Bn.
Point of Sale (POS) Terminals Market Size (2022)
US$ 85 Bn
Sales Forecast for Point of Sale (POS) Terminals (2032)
US$ 180.13 Bn
Global Market Growth Rate (2022 to 2032)
Key Companies Profiled
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From 2017 to 2021, the global Point of Sale (POS) Terminals market registered significant gains, registering a CAGR worth 5%. 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.
According to Fact.MR’s analysis, the market is projected to show a promising growth rate at a CAGR of around 7.8% over the forecast period (2022 to 2032), surpassing US$ 180 Bn by 2032.
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Digital transformation of end-use industry verticals such as retail, healthcare, and hospitality is propelling the demand for Point-of-Sale (POS) terminals.
Owing to the benefit of digitization such as traceability, security, and tractability, the POS terminals market exhibits a robust growth rate of more than 10% during the forecast period. Advancements in internet connectivity such as 5G will bolster the growth of POS terminals during the forecast period.
As a result, mobile POS terminals are projected to exhibit high growth during the forecast period. Innovation of POS systems integrated with inventory, merchandising, marketing, and customer relationship management will give manufacturers a competitive edge. The prevalence of digital payments is a central force behind the growth of the POS terminals market.
POS machines have evolved over the years owing to the transaction-oriented terminals/devices to systems that merge well with the company's CRM along with the financial solutions. This evolution has empowered end-users with business intelligence to manage their revenue streams and inventory better.
East Asia leads the usage of POS machines with a majority market value share of over 49%. Surging penetration of online transactions in China and Japan will prove to be a driving factor behind the impressive 8% growth during the forecast period.
South Asia & Oceania are projected to exhibit the second largest market share with a strong 9% CAGR from 2022 to 2032. Developing countries in the Asia Pacific are witnessing a boom in cashless payments which furthers the demand for point-of-sale terminals.
Investments in developing network infrastructure and cloud-based POS machines present remunerative opportunities. According to a 2020 survey by Visa Inc., the adoption rate of cashless payments in Singapore accounted for 98%, followed by Malaysia (96%), Indonesia (93%), Vietnam (89%), Philippines (89%), and Thailand (87%).
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Increasing Reliance on Cashless Transactions in a post-pandemic era
The U.S. market will continue to be the most lucrative market for POS terminals, with an ever-expanding growth and development of network infrastructure to support cashless transactions. A CAGR worth 7% is anticipated for the market as per Fact.MR.
This will define how manufacturers employ business strategies in the US. In the post-COVID-19 era, consumers are exploring various sales methods. According to the latest retail experts and shopper surveys, this new behavior is expected to stay over the forecast period. Such trends have affected the demand for POS terminals across regions.
Increased Adoption of Online Transactions Encouraging Adoption
As per the Fact.MR analysis, East Asia leads the market with a majority market value share of over 49%. Surging penetration of online transactions in China and Japan will prove to be a driving factor behind the impressive 8% growth during the forecast period.
POS Terminal Software to Accrue Maximum Revenue Share
According to Fact.MR, the software segment is anticipated to exhibit robust growth and will grow 3x through 2032. The fast growth of the software segment over the forecast period can be attributed to high data support functionalities and advancements in cloud computing. The growing utilization of software-as-a-service (SAAS) platforms for POS terminals will further fuel the demand for software components.
High Adoption anticipated in the Retail Industry
Retail is set to propel the demand for POS terminals with a maximum market value share of over 34%, closely followed by Restaurants. Mass adoption of cohesive technologies such as Near Field Communication (NFC) in debit and credit cards will drive product demand in the retail segment.
Fixed POS Terminals to Witness Maximum Traction
Fixed POS terminals are projected to be in the lead in terms of total market value with a robust growth rate of over 7% during the forecast period. This is attributable to the rising demand for enhanced consumer experience in retail.
Deployment of fixed POS terminals as self-checkout systems will drive demand during the forecast. Fixed POS terminal holds a leading share of more than 3/4th of the total market value.
The competitive landscape of the Point of Sale (POS) Terminals market is shaped by product innovation and strategic mergers & acquisitions. Front Runners are emphasizing capacity enhancements and global footprint expansion to leverage lucrative prospects in developing economies.
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According to Fact.MR, the point of sale (POS) terminals market is expected to be valued at US$ 85 Bn in 2022
From 2017 to 2021, demand for POS terminals surged at a CAGR of 5%, as per Fact.MR
The POS terminals market is slated to surge at a CAGR of 7.8% from 2022 to 2032
As per Fact.MR, the market for POS terminals is expected to reach US$ 180.13 Bn by the end of the 2022-2032 forecast period
The POS terminals market in the U.S is slated to grow at a CAGR of 7% until 2032
China is expected to be the largest market for POS terminals, expected to surge at an 8% CAGR
East Asia is expected to capture the maximum revenue share, comprising 49% of the global landscape
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