Major players in the point-of-sale terminals market are Samsung Electronics Co. Ltd, NEC Corporation , Panasonic Holdings Corporation, Toshiba Corporation, Hewlett-Packard Development Company L.P., PAX Technology Limited, NCR Corporation, Xenial Inc., AURES Group, HM Electronics Inc., Toshiba Corporation, Diebold Nixdorf, Ezetap Mobile Solutions Pvt. Ltd., BBPOS, and Hintel Technology.
The global point-of-sale terminals market is expected to grow from $81.51 billion in 2021 to $89.86 billion in 2022 at a compound annual growth rate (CAGR) of 10.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The point-of-sale terminals market is expected to grow to $132.44 billion in 2026 at a compound annual growth rate (CAGR) of 10.2%.
The point-of-sale terminal market consists of sales of point-of-sale terminal products and related services by entities (organizations, sole traders, and partnerships) that are used to accept payment and keep track of sales.A point-of-sale terminal is a type of computerised replacement for a cash register that requires a card PIN to enter to complete the transaction and thus processes debit and credit cards.
It is a secure method of payment as it eliminates the user errors that can occur during a transaction.
The main types of point-of-sale terminals are mobile and fixed.Mobile refers to a small hand-held device that has a display screen with touch input and a QWERTY keyboard and may provide users with telephony capabilities.
The various components involved are hardware, software, and service. The various technologies involved are biometric, and traditional POS operated by windows, Linux, and mac applied in restaurants, hospitality, healthcare, retail, warehouse, entertainment, and other applications.
Asia Pacific was the largest region in the point-of-sale terminals market in 2021. The regions covered in point-of-sale terminals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increasing demand for contactless and cashless payments is expected to propel the growth of the point-of-sale terminal market going forward.Cashless and contactless payments refer to a payment method that does not involve cash for payment, which is a type of computerized replacement for a cash register.
Point of sale terminals accept payments through cards and make cashless purchases possible.For instance, in June 2022, according to India Brand Equity Foundation, an Indian government export promotion agency, contactless transactions accounted for 25% in the year 2020, of all supermarket transactions, which increased to 31% by 2022.
Therefore, increasing demand for contactless and cashless payments is driving the point-of-sale terminal market.
Technological advancement is a key trend gaining popularity in the point-of-sale terminal market.Major companies operating in the point-of-sale terminal market are introducing various technological innovations to sustain their position in the point-of-sale terminal market.
For instance, in September 2021, PAX Global Technology, a Chinese manufacturer of payment terminals, PIN pads, and point of sale hardware and software, launched android payphones in Amsterdam. These payphones are smartphones with unique features like the built-in point-of-sale technology and are innovative alternatives for acquiring banks and payment services.
In November 2020, Worldline, a France-based payment, and transactional services company acquired Ingenico for a deal value of $8.5 billion. This acquisition is expected to help Worldline to join the international league of payment leaders as it has given the company a global footprint. Ingenico is a France-based payment service provider company operating in the point-of-sale terminals market.
The countries covered in the point-of-sale terminals market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The point-of-sale terminal market research report is one of a series of new reports that provides point-of-sale terminal market statistics, including point-of-sale terminal industry global market size, regional shares, competitors with a point-of-sale terminal market share, detailed point-of-sale terminal market segments, market trends and opportunities, and any further data you may need to thrive in the point-of-sale terminal industry. This point-of-sale terminal market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.