Portland, OR, Oct. 04, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global wireless POS terminal market garnered $7.9 billion in 2021, and is estimated to generate $24.8 billion by 2031, manifesting a CAGR of 12.5% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $7.9 billion |
| Market Size in 2031 | $24.8 billion |
| CAGR | 12.5% |
| No. of Pages in Report | 458 |
| Segments covered | Component, Type, Application, Industry Vertical, and Region. |
| Drivers | Online ordering, e-wallets, table reservations, loyalty programs, and many more features are integrated with wireless POS terminal systems |
| Businesses are increasingly using wireless point of sale systems to function more quickly, cut down on billing time, keep track of order fulfillment times, and manage inventory | |
| Opportunities | Technological advancements in the wireless POS terminals such as inclusion of machine learning (ML) and automation |
| Increase in adoption of wireless handheld POS terminal by restaurants and healthcare industry for streamlining the operations | |
| Restraints | High acquisition costs |
| Security risks of the POS terminals |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a positive impact on the growth of the global wireless POS terminal market, owing to surge in preference for cashless transactions.
- The growth of wireless POS terminal systems during the pandemic had enabled the interaction of customer relationship management (CRM) as well as other financial solutions for organizations. This enabled businesses to use wireless POS terminal transaction data for business intelligence.
- Furthermore, the growth of digital payment industry during the pandemic has propelled the growth of wireless POS terminals market.
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The research provides detailed segmentation of the global wireless POS terminal market based on component, type, application, industry vertical, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on component, the hardware segment held the highest share in 2021, accounting for more than half of the global wireless POS terminal market, and is expected to continue its leadership status during the forecast period. However, the software segment is expected to register the highest CAGR of 15.3% from 2022 to 2031.
Based on application, the front end segment accounted for the highest share in 2021, contributing to nearly three-fourths of the global wireless POS terminal market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the back end segment is expected to manifest the highest CAGR of 14.6% from 2022 to 2031.
Based on industry vertical, the retail segment accounted for the highest share in 2021, holding around two-fifths of the global wireless POS terminal market, and is expected to continue its leadership status during the forecast period. However, the transportation segment is estimated to grow at the highest CAGR of 18.4% during the forecast period.
Based on region, Asia-Pacific held the largest share in 2021, contributing to more than one-third of the total wireless POS terminal market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the same region is expected to manifest the fastest CAGR of 15.4% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.
Leading market players of the global wireless POS terminal market analyzed in the research include Aures Group, Diebold Nixdorf, Incorporated, Hewlett Packard Enterprise Development LP.
The report provides a detailed analysis of these key players of the global wireless POS terminal market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the wireless POS terminal market forecast from 2021 to 2031 to identify prevailing wireless POS terminal market opportunity.
- In addition to the market research, important drivers, restraints, and opportunities are covered as well.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the wireless POS terminal market segmentation assists in determining the prevailing market opportunities.
- According to their contribution to global market revenue, the major countries in each region are mapped.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global wireless POS terminal market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segment:
Market Size By 2031 : USD 24.8 billion
Growth Rate : CAGR of 12.5%
Forecast period : 2021 – 2031
Report Pages : 458
Component:
- Hardware
- Software
- Software
- On-Premise
- Cloud
- Software
- Services
- Services
- Professional Services
- Managed Services
- Services
Type
- Portable Countertop and PIN Pad
- mPOS
- Smart POS
- Others
Application
- Front End
- Back End
Industry Vertical
- Retail
- Hospitality
- Hospitality
- Full-service Restaurant (FSR)
- Quick Service Restaurant (QSR)
- Institutional FSR
- Others
- Hospitality
- Healthcare
- Entertainment
- Transportation
- Others
By Region:
- North America (U.S., Canada)
- Europe (UK, Germany, France, Italy, Spain, Netherlands, Rest Of Europe)
- Asia-Pacific (China, Japan, India, Australia, South Korea, Singapore, Rest Of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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