Global Point of Sale Terminals Market (POS) was valued US$ 48.45 Bn in 2017 and is expected to reach US$ 118.23 Bn by 2026, at a CAGR of 11.8% during a forecast period.
The global point-of-sale (POS) terminals market based on product, component, deployment, service, application, and region. In terms of product, the point-of-sale (POS) terminals market is categorized into fixed and mobile. Based on a component, the point-of-sale (POS) terminals market is segregated into hardware, software, and services. On the basis of deployment, the point-of-sale (POS) terminals market is divided into the cloud and on-premise. By service, the point-of-sale (POS) terminals market is classified into managed services, repair and maintenance services, and professional services. Based on application, the point-of-sale (POS) terminals market is segregated into restaurants, hospitality, healthcare, retail, warehouse, entertainment, others. Region wise into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
The key factors driving the point-of-sale (POS) terminals market growth are the increase in cashless transaction across countries, increase in an e-commerce transaction, increased adoption of wireless POS terminals by retailers, and rising adoption of wireless technology in mobile handsets and wearable and mobile handsets.
However, the need for extensive government certifications, strict regulations, and increasing data security concerns are anticipated to act as restraints to market growth. Point-of-sale (POS) terminals market has some opportunities such as reduced cost and increased reliability of wireless technology and increased adoption of dual-interface chip technology and increased application support by HCE (Host Card Emulation) and NFC (Near-Field Communication) that can help to increase the market growth. Also, some challenges faced by the market are low rate adoption of wireless POS terminals, low consumer awareness regarding wireless POS technology and lack of standardization.
Global Point of Sale Terminals Market (POS)
In terms of product, fixed terminals are traditional PC/ monitor POS systems installed on counters or reception areas. These systems are complex in nature, need the continuous power supply, and high maintenance costs are involved. Mobile applications have the ability to create new channels for revenue growth.
Based on a component, the services segment is expected to register the fastest growth among other POS terminal components owing to rising security threats to financial and personal data. Penetration of these systems in developing countries is also driving segment growth.
On the basis of deployment, On-premise deployment accounted for the largest market share in 2017. On-premise deployment comprises manual installation at the customer’s place, which includes electrical work, cabling and cabling permits, and hardware and software installation. Cloud-based POS deployment involves the installation of Software as a Service (SaaS)-based software in retailers’ existing personal computers.
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In terms of region, North America is leading the point of sale (POS) terminals market and is expected to continue on the dominant position in the upcoming years. The increasing demand for the product in retail and entertainment sectors along with rising in adoption of this payment technology in the region is the major factor behind the dominance of the North America point of sale (POS) terminals market.
Some of the key players in the global point-of-sale (POS) terminals market are Ingenico S.A., Verifone Systems, PAX Technology, HP Company, Cisco Systems, Panasonic Corporation, Toshiba Corporation, Samsung Electronics, and MICROS Systems.
Scope of the Global Point of Sale Terminals Market (POS)
Global Point of Sale Terminals Market (POS) by Product
Global Point of Sale Terminals Market (POS) by Component
Global Point of Sale Terminals Market (POS) by Deployment
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Global Point of Sale Terminals Market (POS) by Service
• Managed Services
• Repair and Maintenance Services
• Professional Services
Global Point of Sale Terminals Market (POS) by Application
Global Point of Sale Terminals Market (POS) by Geography
• North America
• Middle East & Africa
• Latin America
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Key Players operating in Global Point of Sale Terminals Market (POS)
• Ingenico S.A.
• Verifone Systems
• PAX Technology
• HP Company
• Cisco Systems
• Panasonic Corporation
• Toshiba Corporation
• Samsung Electronics
• MICROS Systems
• Hewlett Packard Enterprise
• NEC Corporation
• Dell Inc.
• BBPOS International Limited
• Bitel Corporation
• Castles Technology
• Squirrel Systems