The global sales for wireless POS terminals reached USD 7.1 billion in 2022. It is set to soar by 6.6% CAGR over the forecast period 2022 to 2032. Revenue is likely to reach USD 13.3 billion by 2032.
At the end of the historical period 2017 to 2021, the market stood at USD 6.6 billion. The market is projected to generate a monetary potential of USD 6.3 billion by 2032-end.
Based on end-use sector, the retail sector accounted for a significant market valuation during the forecast period.
The global wireless POS terminal market is expected to witness significant growth during the forecast period. The increasing need for flexibility and mobility in payment transactions is a significant driver in the market.
With wireless terminals, merchants can accept payments anywhere within their premises or on the go, enabling fast and convenient transactions.
The rise of online shopping and mobile commerce has created a demand for wireless POS terminals. These devices allow businesses to accept payments from customers who prefer to make purchases through mobile devices or online platforms, facilitating seamless transactions.
Wireless POS terminals are preferred by businesses since they provide a more efficient and personalized customer experience. They enable faster checkout times, reduce queues, and allow for on-the-spot payments, enhancing customer satisfaction and loyalty.
Wireless POS terminals often come with advanced security features such as encryption and tokenization, ensuring secure transmission of payment data. They also comply with industry standards and regulations, providing merchants with peace of mind regarding data protection and compliance.
Wireless POS terminals eliminate the need for wired connections and infrastructure, reducing installation and maintenance costs for businesses. They offer convenience for businesses operating in temporary or remote locations, such as pop-up shops, food trucks, and events.
Wireless POS terminals can integrate with various advanced technologies, such as contactless payments, near-field communication (NFC), and mobile wallets. These integrations enable merchants to accept a wide range of payment options, including tap-to-pay, mobile payments, and digital wallets, accommodating evolving consumer preferences.
The wireless POS terminal industry has been driven by the increasing rate of small and medium-sized businesses (SMBs) adopting electronic payment solutions.
Wireless terminals provide SMBs with an affordable and flexible payment processing solution, enabling them to compete with larger retailers.
Key Trends Listed by Future Market Insights (FMI):
| Attribute | Details |
|---|---|
| Global Wireless POS Terminal Market Size (2022E) | USD 7.1 billion |
| Projected Market Value (2032F) | USD 13.3 billion |
| Value-based CAGR (2022 to 2032) | 6.6% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
Future Market Insights (FMI) notes that global wireless POS terminal sales expanded at 7.5% CAGR during the historical period 2017 to 2021. Sales are forecast to witness a 6.6% CAGR during the forecast period 2022 to 2032. Revenue was valued at USD 6.6 billion in the base year 2021.
As wireless transactions become more prevalent, the need for robust security measures has grown. Wireless POS terminals are highly efficient in incorporating advanced encryption technologies and compliance with industry security standards.
Good encryption technology provides businesses reliable and secure payment processing and protection of sensitive customer data. This is likely to drive demand for wireless POS terminals throughout the forecast period.
The adoption of cloud-based POS systems has increased, offering businesses the benefits of centralized data management, real-time analytics, and seamless integration with other business operations.
Wireless POS terminals are being developed to connect to cloud-based platforms, providing scalability and enabling remote management.
Wireless POS terminals are evolving to offer more than just payment processing. They are also being integrated with several value-added services. These include inventory management, customer relationship management (CRM), loyalty programs, and analytics.
Advancements in this space is providing businesses with a comprehensive solution to manage their operations effectively.
With the growing popularity of omnichannel retailing, wireless POS terminals are being designed to seamlessly integrate with online and offline sales channels. This enables retailers to offer a unified shopping experience, allowing customers to make purchases and returns across multiple channels.
The wireless POS terminal industry has witnessed significant consolidation, with established players acquiring smaller companies to expand their product offerings and market reach. This consolidation has led to increased competition and innovation as companies strive to differentiate themselves and capture market share.
Increasing Adoption of Contactless Payments:
With the rise of mobile wallets and contactless payment technologies such as NFC (Near Field Communication), there has been a growing demand for wireless POS terminals that support these payment methods. This trend has been accelerated further by the COVID-19 pandemic, as consumers have become more cautious about physical contact.
Mobility and Portability:
Businesses, particularly in sectors such as retail, restaurants, and hospitality, are increasingly adopting wireless POS terminals to enable mobile payment acceptance. Mobile terminals provide flexibility, allowing transactions to be conducted anywhere within the business premises, reducing wait times, and improving customer service.
Integration with Smart Devices:
Wireless POS terminals are being designed to integrate with smartphones and tablets, leveraging their processing power and connectivity. This integration allows businesses to utilize their existing devices as POS systems, reducing hardware costs and enhancing mobility.
Principal Consultant
With Rising Prevalence of Tablets, Retailers Are Embracing Wireless POS Terminals
The United States wireless POS terminal industry is poised to hold a total of around USD 4.3 billion by 2032. Sales are likely to propel at 5.4% CAGR over the forecast period 2022 and 2032.
The United States is dominating the market due to the widespread adoption of wireless technology in the retail sector. With the growing rate of smartphones and tablets, retailers are embracing wireless POS terminals to enhance customer experience and streamline their operations.
The United States has a robust ecosystem of technology companies, startups, and research institutions. The country is continuously developing and improving wireless POS terminal solutions. The country has invested in developing a reliable and extensive telecommunication infrastructure, including a wireless network.
Increasing Demand for Contactless Payment Options Set to Fuel GRowth
The United Kingdom wireless POS terminal market is poised to register 5.7% CAGR during the assessment period. By 2032, the United Kingdom revenue is projected to reach USD 674.2 billion.
The United Kingdom is likely to experience dominance in the market. The country has an advanced retail landscape, along with an increasing demand for contactless payment options.
Technological advancements have fueled the growth of wireless POS terminals in the United Kingdom. Retailers in the United Kingdom are actively embracing these terminals to cater to the evolving preferences of their tech-savvy customers
London, the capital of the United Kingdom, is one of the key financial centers. It attracts a significant amount of investment and various financial institutions.
Concentration of financial and commercial activity in the national capital can create a favorable environment for the adoption and growth of wireless POS terminals.
Hardware Segment to Remain the Highly Sought-After Component in Wireless POS Terminal Market
Based on components, hardware segment demand is likely to spearhead the market during the assessment period. The segment is likely to exhibit a 6.5% CAGR during the forecast period 2022 and 2032.
This can be attributed to the constant advancements in hardware technologies, such as improved connectivity options and enhanced security features. Retailers are investing in reliable and efficient hardware to ensure seamless and secure transactions for their customers.
Hardware components play a crucial role in the overall performance and functionality of wireless POS terminals. The hardware includes devices such as smartphones, tablets, card readers, etc. Advancements in hardware technology have enabled fast processing speeds and enhanced security features. This makes hardware highly desirable for businesses.
Portable Countertops & Pin Cards have Prominent Contributions in the Market
In terms of type, the portable countertop & pin card division is set to be at the forefront of the global market. This division is set to witness a 6.4% CAGR over the projection period from 2022 to 2032.
This is due to the increasing adoption of mobile and cloud-based solutions, enabling retailers to provide flexible payment options to their customers. Portable countertops and pin card terminals allow for mobility and ease of use, making them a preferred choice for both retailers and consumers.
They allow the merchants to bring payment devices directly to the customers, enhancing convenience and reducing wait times. They are ideal for businesses that require mobility.
Prominent users of this type include restaurants, cafes, and food trucks. The ability to accept payments on the go increases efficiency, and improves the overall customer experience.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Manufacturers strive to develop innovative wireless POS terminals with advanced features and functionalities. They invest in research and development to introduce cutting-edge technologies. It includes NFC (Near Field Communication), EMV (Europay, Mastercard, and Visa) compliance, biometric authentication, and mobile payment integration. By offering differentiated products, manufacturers can attract more customers and stay ahead in the market.
Various wireless POS terminal manufacturers form strategic partnerships and collaborations with payment processors, software providers, and financial institutions. These partnerships enable seamless integration of payment solutions and provide added value to customers. Collaborations with industry leaders help manufacturers expand their customer base and enhance the overall user experience.
Recent developments:
| Attribute | Details |
|---|---|
| Market Size Value in 2022 | USD 7.1 billion |
| Market Forecast Value in 2032 | USD 13.3 billion |
| Anticipated Growth Rate (2023 to 2033) | 6.6% CAGR |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | Volume (MT) and Value (USD Billion) |
| Key Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; and Middle East & Africa |
| Key Countries Covered | Canada, United States, Mexico, Brazil, Chile, Peru, Argentina, Germany, France, Italy, Spain, United Kingdom, Netherlands, Belgium, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Central Africa, and others |
| Key Market Segments Covered | Component, Type, Industry, Region |
| Key Companies Profiled | VeriFone; PAX Global Technology; Diebold Nixdorf Incorporated; Elavon; Castles Technology; Wines; BBPOS Limited.; Ingenico;Bitel; Cegid Group |
The market was valued at USD 7.1 billion in 2022.
VeriFone, Elavon, and Wines are key market players.
The market is forecast to register a CAGR of 6.6% through 2032.
From 2017 to 2021, the market registered a CAGR of 7.5%.
Rise in eCommerce and online shopping is encouraging the market growth.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Component 5.1. Hardware 5.2. Software 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Type 6.1. Portable Countertop & Pin Card 6.2. MPOS 6.3. Smart POS 6.4. Others 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Industry 7.1. Retail 7.2. Hospitality 7.3. Healthcare 7.4. Others 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. Asia Pacific 8.5. Middle East & Africa 9. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. Middle East & Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. Key Countries Market Analysis 15. Market Structure Analysis 16. Competition Analysis 16.1. VeriFone 16.2. PAX Global Technology 16.3. Diebold Nixdorf Incorporated 16.4. Elavon 16.5. Castles Technology 16.6. Winpos 16.7. BBPOS Limited 16.8. Ingenico 16.9. Bitel 16.10. Cegid Group 17. Assumptions & Acronyms Used 18. Research Methodology
Explore Technology Insights
View Reports
Wireless POS Terminal Market
