POS Terminal Market

POS Terminal Market Overview for 2024 to 2034

The POS terminal market is anticipated to be worth USD 110.69 billion in 2024. The market is expected to grow at a positive rate over the period from 2024 to 2034, with a CAGR of 8.0%. By the end of the forecast period, the market value is predicted to hit USD 238.97 billion.

Attributes	Details
POS Terminal Market Value for 2024	USD 110.69 billion
Projected Market Value for 2034	USD 238.97 billion
Value-based CAGR of Market for 2024 to 2034	8.0%

POS Terminal Market Analysis

• Consumer fascination with wireless transactions, due to their convenience, is improving the demand in the point-of-sale terminal market.
• Blooming of various payment modes and the increase of cards in consumers’ wallets is aiding the demand for POS terminals.
• Increasing number of vendors in the market making e-wallet facilities available to consumers is boosting the market.
• Tap and pay cards are affording consumers even more convenience, thus increasing the appeal of POS terminals to consumers.
• Mobile payments becoming the preferred mode of payment for a significant number of consumers is boosting the POS terminal market.

POS Terminal Market Trends

• Governments in countries like India have taken initiatives to increase the volume of digital payments and thus the market is thriving in these regions.
• POS terminal demand is being positively affected due to the rising popularity of cashless transactions, owing to their secure nature.
• POS terminals are helping businesses keep better track of receipts and as the number of retail outlets, hotels, and other stores increase, the market stands to benefit.
• Rise in the digitization of service spaces, malls, specialty stores, etc. is seeing these stores move towards POS terminals for transactions.
• Consumer aversion towards carrying around large sums of money in cash form is increasing the use of POS terminals.
• Making substantial sums of payment with the help of cash is seen as impractical and thus POS systems are being used when the amount involved is considerable.
• Cloud-based POS terminals are affording more space and working capabilities to end-users. Thus, the rising demand for cloud-based POS terminals is contributing to the uptick in demand for the product.
• POS terminal demand is multiplying with the increasing inclination towards integrated POS terminals.
• Consumer concern about the safety of data, fraudulent transactions, and downtime of hardware are hindrances to the growth of the market.

Category-wise Outlook

Software is the top component in the market. Fixed POS terminals remain in pole position when it comes to the type of POS terminal.

Growing Popularity of Mobile Payments Enhances the Importance of Software in POS Terminals

For 2024, POS software is expected to account for 44.1% of the market share by component. Some of the key drivers for the increasing use of POS software are:

• With mobile transactions rapidly advancing, the demand for POS software is benefitting. Unlike cards, mobile transactions are able to be executed without the help of hardware and thus POS software adoption is rising.
• End-user preference for cloud-based POS terminals is seeing the demand for POS software grow.

Attributes	Details
Top Component	POS Software
Market Share (2024)	44.1%

Fixed POS Terminals Unmoved from the Top

Fixed POS terminals are anticipated to account for 61.5% of the market share by type in 2024. Some of the key drivers for the progress of fixed POS terminals include:

• Despite the growing popularity of mobile POS terminals, fixed POS terminals continue growing due to their reputation, which increases end-user trust in them.
• Fixed POS terminals are generally cheaper than mobile POS terminals and thus their demand, especially among smaller businesses, is growing.

Attributes	Details
Top Type	Fixed POS
Market Share (2024)	61.5%

Country-wise Analysis

The Asia Pacific’s considerable young population is driving the demand in the POS Terminal industry. The burgeoning beauty and personal care sector in the region is also contributing to the market’s acceleration in the Asia Pacific.

The rise of disposable income is making sure people are buying more beauty products in North America. The influence of social media is also felt in the market’s progress in the region.

Countries	CAGR
United States	4.9%
China	8.5%
Japan	4.8%
Germany	3.5%
Australia and New Zealand	11.5%

Growing Retail Chains Influence the Market in the United States

The market is set to register a CAGR of 4.9% in the United States for the forecast period. The key drivers for growth are:

• Retail chains, such as Walmart and Costco, and hypermarket/supermarket growth in the United States is happening rapidly and thus there is more demand for POS terminals in the nation.
• Demand for advanced payment technologies in the United States is adding to the market’s growth in the country.

Government Encouragement for Digital Economy Conducive to the Market’s Growth in China

The CAGR for POS terminal in China is tipped to be 8.5% over the forecast period. Some of the key factors driving the growth are:

• Digital economy in China is being bolstered with the help of government encouragement and thus POS terminal demand in the country is increasing.
• Increasing number of restaurants opening up in China is driving the growth of the market in the country.

Rising Income Levels Helping the Market’s Cause in Japan

The CAGR for POS terminal in Japan is tipped to be 4.8% over the forecast period. Some of the key factors driving the growth are:

• With income levels in Japan rising, consumers are in possession of an increasing number of debit cards, credit cards, e-wallets, and more. Thus, the use of POS terminals in the country is growing.
• Rising trend of digitization even among small shops and outlets in Japan is aiding the prospect of POS terminals in the country.

Growing Adoption of POS Terminals in Healthcare Sector Boosting the Market in Germany

The market is expected to register a CAGR of 3.5% in Germany for the forecast period. Some of the key trends include:

• Healthcare sector end-users of POS terminals in Germany are increasing and thus market demand is accelerating in the country.
• Increased retail sector adoption of POS terminals, with the expansion of both native and foreign brands in the country, is driving market growth in Germany.

Cards Becoming Primary Method of Transaction Helping the Market’s Cause in Australia and New Zealand

The market is expected to register a CAGR of 11.5% in Australia and New Zealand. Some of the key trends include:

• It is claimed that three-quarters of all consumer transactions in Australia are made using cards. Thus, POS terminals are popular in the country and are penned in for a bright future.
• Climbing popularity of mobile payments is making New Zealand a lucrative country for the market.

Competitive Landscape in the POS Terminal Market

The POS terminal landscape is heavily fragmented, with multiple players vying for dominance. Small-scale companies and startups are looking to establish themselves in the market with the help of innovative payment methods and schemes.

Companies in the POS terminal market are establishing strategic partnerships. Collaborations with payment service providers are also being done by market players.

Recent Developments in the POS Terminal Market

• In February 2024, Zoho Corporation unveiled its new point-of-sale solution called Zakya. The solution is aimed at easing the payment process for small and medium-scale shops in India.
• Also in February 2024, Razorpay Software announced the launch of a new POS device called the Enterprise QR Soundbox. The device supports QR-based payments and tap card payments among numerous other functionalities.
• In August 2023, USA Bank and its subsidiary Elavon introduced its new POS solution, called the Talech Terminal. It is geared towards small businesses in the United States.
• In May 2022, Lavu established a partnership with Verifone, to provide improved point-of-sale services to restaurants.
• In March 2022, Ingenico S.A. established a partnership with BharatPe, expanding its reach in India.

Key Companies in the POS Terminal Market

• Cisco Systems, Inc.
• Emerge Mobile (Pty) Ltd.
• Equinox Payments, LLC
• Hewlett-Packard Development Company L.P.
• Ingenico S.A.
• iVeri Payment Technologies (Pty) Ltd.
• Micros Systems, Inc.
• Miura Systems Ltd.
• NCE Corporation
• NCR Corporation
• Panasonic Corporation
• PAX Technology Ltd.
• Samsung Electronics Co., Ltd.
• Toshiba Corporation
• Vectron Systems
• VeriFone Systems, Inc.
• Wincor Nixdorf International
• Yoco Technologies (Pty) Ltd.

 Key Coverage in the POS Terminal Industry Report

• Wireless POS Terminal Market Analysis
• NFC POS Terminal Market Outlook
• Retail Point Of Sale Terminals Market Report
• Mobile POS Terminals Market Coverage
• POS terminal market revenue analysis
• Sales Prospects for POS Terminal Coverage

Table of Content

• 1. Executive Summary
• 2. Market Overview
• 3. Market Background
• 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034
• 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Component
  • 5.1. Devices
  • 5.2. POS Software
    • 5.2.1. Cloud-Based
    • 5.2.2. On-Premises
  • 5.3. Services
    • 5.3.1. Consulting Services
    • 5.3.2. Integration & Implementation
    • 5.3.3. Support & Maintenance
• 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Type
  • 6.1. Fixed POS
  • 6.2. Portable/Mobile POS
• 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application
  • 7.1. Restaurants
  • 7.2. Hospitality
  • 7.3. Healthcare
  • 7.4. Retail
  • 7.5. Warehouse / Distribution
  • 7.6. Entertainment
  • 7.7. Others
• 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
  • 8.1. North America
  • 8.2. Latin America
  • 8.3. Western Europe
  • 8.4. Eastern Europe
  • 8.5. South Asia and Pacific
  • 8.6. East Asia
  • 8.7. Middle East and Africa
• 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country
• 16. Key Countries Market Analysis
• 17. Competition Analysis
  • 17.1. Cisco Systems, Inc
  • 17.2. Emerge Mobile (Pty) Ltd.
  • 17.3. Equinox Payments, LLC
  • 17.4. Hewlett-Packard Development Company L.P.
  • 17.5. Ingenico S.A.
  • 17.6. iVeri Payment Technologies (Pty) Ltd
  • 17.7. Micros Systems, Inc.
  • 17.8. Miura Systems Ltd.
  • 17.9. NCE Corporation
  • 17.10. Panasonic Corporation
• 18. Assumptions & Acronyms Used
• 19. Research Methodology