Summary
Major players in the wireless pos terminal market are Elavon Inc., VeriFone Inc, Fiserv Inc, PAX Global Technology Limited, NCR Corporation, iVeri Payment Technologies (Pty) Ltd, Cegid SA, Squirrel Systems, Castle Advanced Technologies And Systems Private Limited, Fujian Newland Payment Technology Co. Ltd., Cisco Systems Inc, Emerge Mobile (Pty) Ltd., Equinox Payments LLC, Hewlett-Packard Development Company L.P., Nce Corporation (s) Pte. Ltd, Micros Systems Inc., and Miura Systems Ltd.
The global wireless POS terminal market is expected to grow from $ 9.31 billion in 2021 to $ 10.43 billion in 2022 at a compound annual growth rate (CAGR) of 12%. The wireless POS terminal market is expected to grow to $ 16.15 billion in 2026 at a CAGR of 11.5%.
The wireless POS terminal market consists of revenues earned by entities by providing wireless POS terminal services such as providing reports on consummate sales record and track customer orders, process credit cards, inventory management, insights on sales trends and customer behaviors, employee scheduling and wages.The market value includes the value of related goods sold by the service provider or included within the service offering.
The wireless POS terminal market also includes sales of smartphone, tablet or dedicated wireless devices which are used in providing wireless POS terminal services.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
A wireless POS terminal refers to functions similarly to a wired terminal but with the extra flexibility of accepting payments in non-traditional settings.A point-of-sale (POS) terminal is a piece of hardware used in retail establishments to handle card payments.
Hardware includes inbuilt software for reading magnetic strips on credit and debit cards. The wireless POS terminals are used for processing card payments at retail locations.
North America was the largest region in the wireless PSO terminal market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the wireless PSO terminal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($ ) unless otherwise specified).
The revenues for a specified geography are consumption values—that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The main types of wireless POS terminals are portable countertop and pin pad, mpos, smart pos, mini pos, and smart mobile dongle.The portable countertop and PIN pad are used with countertop POS terminals to support credit card, debit card, contactless, UPI, and Bharat QR payments.
Portable countertop POS solutions are compact, easy to install, and simple for both merchants and customers.The different components include hardware, software, and services, and involve several technologies, such as NFC terminals and non-NFC terminals.
It is used in restaurants, hospitality, healthcare, retail, warehouse or distribution, and other applications.
Increasing e-commerce transactions are expected to propel the growth of the wireless POS terminal market going forward.E-commerce, often known as electronic commerce, is the exchange of goods and services as well as the sending of money and data through an electronic network, most commonly the internet.
Due to the surge in e-commerce transactions, acceptance of cashless transactions, and increased use of wireless terminals by retailers, e-commerce platforms have become the market leaders, necessitating the use of wireless POS software systems. For instance, according to the United Nations, Conference On Trade And Development-UNCTAD, a Switzerland-based intergovernmental organization intended to promote the interests of developing states in world trade, global B2B e-commerce was estimated to be worth $ 21.8 trillion in 2019, accounting for 82% of all e-commerce, which includes both electronic data interchange (EDI) transactions and sales made through online marketplaces. In addition, sales of B2C e-commerce reached $ 4.9 trillion in 2019. Therefore, increasing e-commerce transactions are the main factor propelling the market for wireless POS terminals.
Product advancements are a key trend gaining popularity in the wireless POS terminal market.Major companies operating in the wireless POS terminal market are focused on developing new solutions to strengthen their position in the market.
For instance, in February 2021, PAX Global Technology, a China-based electronic payment point of sale terminal and E-payment terminal solution provider, launched the PAX E-Series of all-in-one POS and payment systems for the retail and hospitality verticals.The E-series combines a cash register with a payment terminal and is driven by Android.
The solution allows contactless, chip and pin, and QR code payments in addition to traditional payments.
In February 2020, Worldline SA, a France-based payment and transactional services company, acquired Ingenico Group S.A. for $ 8.6 billion. With this acquisition, two French companies, Worldline and Ingenico, would come together with far-reaching stakes in the electronic payments business. Ingenico Group S.A. is a France-based company that specializes in the production of point-of-sale payment terminals, but it also offers full payment software, related services, and merchant software.
The countries covered in the wireless PSO terminal market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The wireless POS terminals market research report is one of a series of new reports that provides wireless POS terminals market statistics, including global market size, regional shares, competitors with a wireless POS terminals market share, detailed wireless POS terminals market segments, market trends and opportunities, and any further data you may need to thrive in the wireless POS terminals industry. This anomaly detection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
