Jersey City, New Jersey, Nov. 25, 2021 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Point of Sale Terminal Market” By Product Type (Fixed POS Terminals, Wireless, Mobile POS), By Component (Hardware, Software), By Application (Restaurant, Hospitality, Healthcare, Retail, Entertainment), and By Geography. According to Verified Market Research, the Global Point of Sale Terminal Market size was valued at USD 65.57 Billion in 2018 and is projected to reach USD 122.8 Billion by 2026, growing at a CAGR of 8.2% from 2019 to 2026.
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Browse in-depth TOC on “Point of Sale Terminal Market”
202 - Pages
126 – Tables
37 – Figures
Global Point of Sale Terminal Market Overview
Increasing demand for contactless and cashless payments, the unification of in-store and online sales, employee and customer management, and the need to keep track of inventory have boosted the adoption of integrated Point-of-Sale (POS) terminals. Moreover, the retail, healthcare, hospitality, and other sectors have witnessed a digital transformation owing to technological advancements that have compelled users to adopt point-of-sale terminals. The digital transformation and POS demand are also supported by the increasing use of the smartphone as a portable POS system.
The growing trend of contactless payments and the increasing penetration of Near Field Communication (NFC) devices in various industry verticals will drive the Point of Sale Terminal Market demand. Several countries are shifting to cashless transactions for implementing fast, easy, and secure payment methods. The emergence of cashless transactions is anticipated to positively impact industry growth. Moreover, players in the market are launching products that support NFC payments. The technology will help retail and hospitality customers to implement easy, safe, and secure payment methods into their operations.
Moreover, increasing R&D investments and the development of advanced payment solutions by manufacturers will propel the Point of Sale Terminal Market demand. Payment companies are developing innovative solutions for specific industrial purposes to increase profitability. The devices will allow retailers to effectively manage their store inventory and business operations, resulting in enhanced market growth.
Key Developments
- In January 2020, Ingenico recently integrated with Apple Pay Support for loyalty programs to drive consumer engagement with merchants.
- In January 2020, Toshiba Corporation announced a strategic partnership with Weis Markets to provide cashless payment systems in a bid to improve the consumer experience.
- In January 2020, the POS terminal giant, Ingenico, was acquired by Worldline to enter the global market.
- In January 2020, HP Inc. introduced new cloud services for its product line, Engage POS. The launch was aimed at helping retailers and hospitality operators in reducing manual IT work.
Key Players
The major players in the market are Cisco Systems Inc., Toshiba Corporation, VeriFone System Inc. (Francisco Partners), Samsung Electronics Inc., MICROS Systems Inc. (Oracle), Hewlett Packard Enterprise, Ingenico SA, NEC Corporation, Panasonic Corporation, PAX Technology.
Verified Market Research has segmented the Global Point of Sale Terminal Market On the basis of Product Type, Component, Application, and Geography.
- Point of Sale Terminal Market, By Product Type
- Fixed POS Terminals
- Wireless, Mobile POS
- Point of Sale Terminal Market, By Component
- Hardware
- Software
- Point of Sale Terminal Market, By Application
- Restaurant
- Hospitality
- Healthcare
- Retail
- Entertainment
- Others
- Point of Sale Terminal Market by Geography
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- U.K
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- ROW
- Middle East & Africa
- Latin America
- North America
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