Worldwide Point of Sale (POS) Terminals Market Size 2018 By Technology (Wireless & Fixed), Industry (Entertainment, Retail, Healthcare, Transportation, Hospitality, & Others), Components (Software & Hardware), Type (Smart, Countertop, M-POS & Integrated), Region, and Forecast 2019-2025

Introduction to Global Point of Sale Terminals Market

The global point of sale (POS) terminals market was valued at USD 9,992.8 million in 2018. A POS terminal is a hardware system for managing card payments at a market place. In majority of retail stores, the point of sale system can be found at a designated counter or checkout section. Advanced POS systems integrate multiple systems into a single terminal to manage a range of processes which includes billing, cash collection, card payments, printing, data analysis, etc. Several technological innovations in POS terminal have given rise to more advanced systems such as MPOS and automated POS systems, which are capable of automating the entire checkout process.

Lower maintenance cost, precise transaction, and real-time inventory are the key advantages of the POS systems. Besides, the use of smartphones for making payments is making online transactions much simpler, and also offering a wide range of services and attracting a larger customer base.

The POS terminals contains two components, hardware and software, that carry out the day-to-day business operations in much easier and faster way. However, with advancements in this technology, a new product has been developed in which both these components are combined into a single system. This new system can accept NFC (Near field communication), EMV chip card, and swiped card payments.

Key Factors Boosting the Growth of the Market

The growing use of business intelligence and internet of things, and development of innovative ways of payments are the key factors driving the growth of point of sale terminal market. The POS technology is now experiencing a fundamental revolution as people are opting to use e-wallets and prefer doing payment through card instead of cash payment.

Besides, many government bodies from several parts of the world are now investing in POS systems. They have begun organizing programs related to point of sale that offer encouragement to the traders, which ultimately elevates the development of point of sale terminal industry.

Furthermore, many of the retail store owners have now made available barcode scanners to allow direct transaction through e-wallets. Thus, the demand for POS terminals is anticipated to observe a slight downfall in the upcoming years.

On the other hand, cybercrime is one of the major issues with the POS system. By installing POS malware into POS system, anyone can steal the information of the user in an unencrypted time frame. However, the POS system can be protected by using biometric technology, as it can prevent users from using the credentials of others to login into the POS system. Therefore, from the security perspective POS system is safe to use, and hence, is anticipated to boost the POS terminal market.

Segment Analysis of the Market

The global point of sale market is segmented into type, components, technology, applications, and region. Based on the POS type, the market is classified into counter-top, smart POS, M-POS, and integrated POS. By components, the market is divided into hardware and software. Based on technology, the market is bifurcated into fixed and wireless. By industrial applications, the market is categorized across retail, entertainment, hospitality, healthcare, transportation, and others.

In the global POS terminal market, the hardware segment of the POS component generated USD 6708.5 million in 2018 and was estimated as the highest revenue share in the same year. However, the use of hardware POS relies on the applications where it is being used. If it is used at a large retail or food stores, then generally wireless and touch screen POS is used, for better preference of buyers as well as suppliers. On the other hand, if it is used for small retailer store then mobile POS (M-POS) are used due to their user-friendly nature and this boosts the overall growth of the POS terminal market.

Counter-top POS terminals is an inexpensive option when compared to the rest. They offer enhanced security, better performance, reliability, and user-friendliness. Therefore, they are considered as the chief contributors to the global POS terminal industry. A counter-top POS terminal can be set up using variety of connectivity options which include: IP (internet protocol), PSTN (public switched telephone network), and GPRS (general packet radio service). The counter-top POS terminal market has been predicted to grow by more than 50% by 2025.

Regional Analysis of the Market

Based on region, the global point of sale market is studied across North America, Europe, Asia-Pacific, Central and South America, and Middle East and Africa. Based on the data for the year 2018, North America was estimated as the leading region and will continue its market growth for POS terminal sale market by 2025. This is mainly because of its well-established economy. This region is the biggest hub for global investors in POS terminal market. On the other hand, continuous development in this region is propelling the growth of the market.

Asia-Pacific region holds the largest share of the POS terminal market due to growing developments in this region. This region comprises of many developing countries, namely China and India. These countries hold a large population of youngsters which usually opt for advanced technology and cashless transactions. Hence, this region is anticipated to grow at a CAGR of 15.74% in the coming years. In China acceptance of e-wallets by customers is increasing day-by-day because of its highly developing economy and highest population. Thus, this would be an important factor driving the growth of China POS terminal market.

Key Market Players of the Market

Some of the top companies dominating the global point of sale market are Panasonic Corporation, Ingenico Group, PAX Technology, Fujian Newland Computer Co, New POS Technology Limited, Shenzhen Zhengtong Electronics Co Ltd, Cybernet Manufacturing, Inc., VeriFone Systems Inc., Nexgo Inc., and Toshiba.

Key Benefits for Stakeholders:

• This study presents the analytical depiction of the global point of sale (POS) terminals market along with the current trends and future estimations to depict the imminent investment pockets.
• The overall market potential is determined to understand the profitable trends to enable stakeholders gain a stronger foothold in the market.
• The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
• The current market is quantitatively analyzed to highlight the financial competency of the industry.
• SWOT Analysis to identify the strengths, weakness, and risks in the industry is presented in the report.
• Porter’s five forces analysis to illustrate the potency of the buyers and suppliers of the market is also provided in the report.

Key Segment of the Point of Sale Market Terminal Market:

By Type:

• Counter-top
• Smart POS
• M-POS
• Integrated POS

By Components:

• Hardware
• Software

By Technology:

• Fixed
• Wireless

By Applications:

• Entertainment
• Retail
• Healthcare
• Transportation
• Hospitality
• Others

By Region:

• North America
• Europe
• Asia-Pacific
• Central and South America
• Middle East and Africa