According to the [210+ Pages] research report; the global Point-of-Sale Terminals Market in 2019 was approximately USD 70 Billion. The market is expected to grow at a CAGR of 7% and is anticipated to reach around USD 110 Billion by 2026. Top market players are Toshiba Corporation, Ingenico Group, Cisco Systems Inc., Panasonic Corporation, Hewlett-Packard Inc. and others.
New York, NY, Jan. 22, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Point-of-Sale Terminals Market By Product (Fixed and Mobile), Component (Hardware, Software, and Services), Deployment (On-premise and Cloud), and Application (Restaurant, Hospitality, Healthcare, Retail, Warehouse, Entertainment, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026”.
“According to the research study, the global Point-of-Sale Terminals Market was estimated at USD 70 Billion in 2019 and is expected to reach USD 110 Billion by 2026. The global Point-of-Sale Terminals Market is expected to grow at a compound annual growth rate (CAGR) of 7% from 2019 to 2027”.
A point of sale is a combination of hardware and software where a retail transaction is completed when a customer makes a payment with the use of a credit or debit card. A POS is a checkout process that later becomes an electronic point of scale after computerization followed by issuing receipt of transaction. POS terminal includes touch screen monitors for ease of use called an all-in-one unit. POS can also be cloud-based, which also means that the information is backed up and stored online automatically. POS terminals offer efficient transaction process and better record-keeping thereby enhancing accuracy. Point of sale terminals enhanced the accounting resulting in faster transactions and detailed receipt. Portable or mobile point of sale terminals refers to integrated credit card processing systems.
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Key Questions Answered in this Report
1) What was the impact of COVID-19 on the Point-of-Sale Terminals Market?
2) What is the market size, share of the Point-of-Sale Terminals Market?
3) Who are the top market players in Point-of-Sale Terminals Market?
4) What will be the future market of the Point-of-Sale Terminals Market?
Market Size & Forecast by Revenue | 2020−2026
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
Competitive Landscape – Top key vendors and other prominent vendors
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For the last few years, the emergence of new technology has expanded its applicability to payment processing applications. There has been a significant increase in the number of cardholders around the world, which has also resulted in the number of card transactions at restaurants, retail outlets, healthcare, and hospitality. Moreover, the number of retail outlets has increased in the last few years, which has also increased the number of POS terminals installed at retail outlets. Also, retail companies are also focused on implementing efficient payment processing solutions, which has led to an increase in the adoption of payment terminals, in turn driving the POS terminals market. In addition, restaurants and hospitality are installing POS terminal systems as these emphasize improving customer service, which has driven the POS terminals market. However, the slow adoption of POS terminals and the increasing use of online payments has slowed down the global POS terminals market growth.
Top Market Players
Top key players operating in the market are Toshiba Corporation, Ingenico Group, Cisco Systems Inc., Panasonic Corporation, Hewlett-Packard Inc., PAX Technology Corp., VeriFone Systems Inc., Samsung Electronics, Co. Ltd., and Others.
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In terms of product, the fixed segment dominated the global POS terminals market, constituting a market share of nearly 70% in 2019. The growth in the fixed POS terminals market is due to the adoption of POS terminals in retail outlets. Based on components, the hardware segment held a major share in the global POS terminals market in 2019. The growth in the hardware POS terminals is due to the growth in the sales of the card readers, monitors, cash drawers, etc. has driven the hardware POS terminals market. On the basis of application, the retail segment dominated the global POS terminals market in 2019. The higher adoption of payment processing solutions in the retail sector has been a key factor driving the growth of the POS terminals in the retail sector.
The point-of-sale terminals market size research report delivers an acute valuation and taxonomy of the point-of-sale terminals industry by practically splitting the market on the basis of different types, categories, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the point-of-sale terminals industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the point-of-sale terminals industry is provided for the leading economies of the world.
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The point of sale also known as the point of purchase is a type of terminal hardware which is primarily used for processing card payment for numerous retail locations. Point of sale terminal is an electronic device with software that is capable of reading magnetic strips of credit and debit cards and is embedded in hardware. When the POS terminal first interprets the magnetic strips it identifies, whether there are sufficient funds that will be followed by the transaction. A point of sale terminals design includes a cash register, computer, cash drawer, customer display, receipt printer, barcode scanner, etc.
The global retail market has seen significant growth in recent years due to an increase in the number of commercial places and complexes. This proliferated the number of POS terminals installed at such locations. This has driven the global POS terminals market. Moreover, the growing digitization of mobile payment methods has also boosted the number of transactions done through debit as well as credit cards, which has also been a key factor that has augmented the global POS terminals market. However, the lack of standardization and slow adoption of POS technology has hampered the POS terminal market.
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In terms of region, the Asia Pacific segment holds a major share in the global POS terminals market in 2019. The growing retail sector in China and India has contributed significantly to the growth in the Asia Pacific POS terminals market. Further, the Asia Pacific POS terminals market is expected to grow with expanding card payment market.
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This report segments the point-of-sale terminals market as follows:
Global Point-of-Sale Terminals Market: By Product Segmentation Analysis
Global Point-of-Sale Terminals Market: By Component Segmentation Analysis
Global Point-of-Sale Terminals Market: By Deployment Segmentation Analysis
Global Point-of-Sale Terminals Market: By Application Segmentation Analysis
Key Insights from Primary Research
Our primary respondents estimated that the global point-of-sale terminals market is expected to grow at a CAGR of nearly 7% by 2026.
The soaring adoption of point-of-sale terminals in retail outlets has significantly contributed to the growth of the global point-of-sale terminals market for the last few years.
On the basis of components, the hardware segment held a major share in the global point-of-sale terminals market in 2019, constituting a market share of nearly 50% in the global point-of-sale terminals market.
Based on region, the Asia Pacific segment dominated the global point-of-sale terminals market in 2019. The growth in the retail sector in China and India has significantly contributed to growth in the Asia Pacific market.
The rise in the travel and hospitality sector has also contributed to the growth of the global point-of-sale terminals market in recent years.
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