New York, United States , May 22, 2023 (GLOBE NEWSWIRE) -- The Global Point-Of-Sale Terminal Market Size is to grow from USD 87.32 billion in 2022 to USD 181.65 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 7.6% during the forecast period.
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A Point-of-Sale (POS) Terminal is a computerized system used to process transactions at retail locations, such as stores, restaurants, and other businesses. It typically consists of a computer or tablet device, a cash register or card reader, and software that allows merchants to process sales, manage inventory, track customer data, and generate reports. POS terminals can accept various forms of payment, including credit and debit cards, cash, and mobile payments. They streamline checkout processes, improve accuracy and efficiency, and provide merchants with valuable data insights to optimize their businesses. POS systems have become an essential tool for modern retailers to manage their operations and provide a seamless customer experience.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on "Global Point-Of-Sale Terminal Market Size, Share, and COVID-19 Impact Analysis, By Product (Fixed and Mobile), By Component (Hardware, Software, and Services), By Deployment (Cloud and On-premise), By End-Use (Restaurants, Retail, Hospitality, Healthcare, Warehouse, Entertainment, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032." Get Detailed Report Description Here:
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The cloud segment is expected to grow at a CAGR of around 8.1% during the forecast period.
Based on deployment, the global point-of-sale terminal market is segmented into cloud and on-premise. The cloud segment is expected to register the fastest growth in the Point-of-Sale (POS) Terminal market due to several factors. Cloud-based POS solutions offer several advantages over traditional on-premise systems, including enhanced scalability, flexibility, and accessibility. With cloud-based POS systems, businesses can easily integrate with other cloud-based platforms for enhanced functionality and ease of use. Additionally, cloud-based systems offer improved security features and are more cost effective than traditional systems, making them attractive for small and medium-sized businesses. Finally, the increasing adoption of Software-as-a-Service (SaaS) models and the emergence of AI-powered cloud-based POS solutions are expected to drive further growth in the cloud segment.
The retail segment held the largest market share of more than 32.5% in 2022.
Based on end-use, the global point-of-sale terminal market is segmented into restaurants, retail, hospitality, healthcare, warehouse, entertainment, and others. The retail segment held the largest market share in 2022. The retail industry has a high level of technology adoption and relies heavily on POS systems for transaction processing and inventory management. Moreover, the growing adoption of digital payment methods and the emergence of omnichannel retailing have further increased the demand for POS systems in the retail industry. Additionally, the increasing focus on enhancing customer experience through personalized promotions and loyalty programs has led to the adoption of advanced POS solutions, such as AI-powered systems. Finally, the demand for cloud-based POS solutions has further fueled growth in the retail segment.
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Asia-Pacific is predicted to grow at a higher CAGR of 9.5% over the forecast period.
Based on region, the Asia-Pacific region is expected to be the fastest-growing market for Point-of-Sale (POS) Terminals due to several factors. The region has a large and rapidly growing retail industry, particularly in countries like China and India, with increasing adoption of digital payment methods. Moreover, the rising popularity of e-commerce and m-commerce platforms is driving demand for POS systems in the region. Additionally, the increasing penetration of smartphones and mobile devices, coupled with the growing demand for contactless payments, is driving the adoption of mobile POS solutions. Finally, the emergence of new technologies like Artificial Intelligence (AI) and the Internet of Things (IoT) is expected to further fuel growth in the Asia-Pacific POS Terminal market.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global point-of-sale terminal market include Verifone, Ingenico Group, Toshiba Global Commerce Solutions, NCR Corporation, PAX Technology, Fujitsu Limited, Square Inc., Revel Systems, Shopify Inc., Lightspeed POS Inc., Toast Inc., Upserve Inc., Heartland Payment Systems, Vend Limited, TouchBistro Inc., Harbortouch Payments, ShopKeep, and Clover Network Inc.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global point-of-sale terminal market based on the below-mentioned segments:
Point-Of-Sale Terminal Market, By Product
- Fixed
- Mobile
Point-Of-Sale Terminal Market, By Component
- Hardware
- Software
- Services
Point-Of-Sale Terminal Market, By Deployment
- Cloud
- On-premise
Point-Of-Sale Terminal Market, By End-Use
- Restaurants
- Retail
- Hospitality
- Healthcare
- Warehouse
- Entertainment
- Others
Point-Of-Sale Terminal Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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