The key objective of the newly published report by Reports & Insights termed as “Point of Sale (POS) Terminal Market Forecast: Opportunity Analysis and Future Assessment 2023-2031”, is to offer its clients with an absolute all-embracing, superior quality primary data about the market potential and profound knowledge of the trends prevailing in the market. Reports & Insights provides the in-depth knowledge of the market developed by the acknowledged market expertise using verified research methodologies and proven analytical approaches. For the interest and intrigue of the readers, the report comes across at the outcome with a strong focus on the thorough outlining of the key players of the global Point of Sale (POS) Terminal Market.

Point of Sale (POS) Terminal Market Overview

The POS Terminal Market Size was valued at US$ 58.6 Bn in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 11.5% from 2020 to 2028

A point-of-sale terminal is a hardware system that is used to process card payments at retails stores. The software to read the magnetic strips of the credit or debit card is inbuilt in the system. The technological advancements witnessed by the industry also change the prospect of POS devices.

The innovation of these devices started as a manually-operated machine, which later got transformed into mobile POS devices that are now capable of scanning the barcodes. Additionally, the companies are also planning to incline towards the cloud-based POS systems. Such developments transforming the machines are likely to boost the demand for POS terminals globally.

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Furthermore, the shifting preference of consumers towards cashless and contactless payments coupled with the need for inventory tracking and online and in-store sale unification is also responsible for boosting product adoption in the next decade. Also, the role of digitalization in the hospitality and healthcare sector along with the adoption of smartphones is further responsible for easing the tracking of business activities, which in turn is likely to expand the POS terminal market size worldwide. 

Up surging demand for affordable wireless communication technologies and growing demand from the end-use industries are also positively influencing the business growth. But, the absence of standardization and data security concerns are the major restraining factor, hampering the market shares globally.

Some of the key questions answered in this report: 

  • Which are the five top players of the Point of Sale (POS) Terminal Market?
  • How will the Point of Sale (POS) Terminal Market change in the upcoming years?
  • Which product and application will take a share of the Point of Sale (POS) Terminal Market?
  • What are the drivers and restraints of the Point of Sale (POS) Terminal Market?
  • Which regional market will show the highest growth?
  • What will be the CAGR and size of the Point of Sale (POS) Terminal Market throughout the forecast period?
  • What is the current market size, what will the market size be in 2030 and what will the growth rate be?
  • What are the challenges to grow in the market?
  • What are the market opportunities and challenges faced by the key vendors?
  • Who are the major competitors and what is their strategy?
  • What are the barriers to entry for new players in the market?

Based on product, the fixed POS terminal segment is estimated to have the majority of market shares, owing to its preference by the large-scale vendors. At the same pace, the mobile POS terminal segment is calculated to be the fastest-growing segment accounting for easy installment of these systems on smartphones and tablets.

Switching over to the component, the hardware segment is expected to dominate followed by the software segment during the predicted years. The software segmental growth is attributed to the data support functionality, easy sale analysis, and its multifunctional feature. In addition, the advancing cloud computing and the escalating use of Software-as-a-Service platform-based POS systems are also likely to favor the segmental growth, contributing to the expansion of global market size.

The deployment category is lead by the on-premises deployment of the payment terminal followed by the cloud-based deployment. The growth contributing factors accounts to the manual installment of POS solution at customer’s premises to ensure the storage of critical data. Besides, the cloud-based deployment is attributed to the advancements witnessed in cloud computing along with easy data restoring and backup facility.

The application segment is dominated by the blooming retail sector solely due to the increasing adoption of modern payment systems even by the small retailers. Geographically, Asia Pacific holds the first position followed by North America and Europe. The Asia Pacific POS terminal segment growth accounts for the promotion of a cashless economy along with the digitalization of payment technologies in this region.

Key Benefits for Industry Participants & Stakeholders:

  • Industry drivers, restraints, and opportunities covered in the study
  • Neutral perspective on the market performance
  • Recent industry trends and developments
  • Competitive landscape & strategies of key players
  • Potential & niche segments and regions exhibiting promising growth covered
  • Historical, current, and projected market size, in terms of value
  • In-depth analysis of the Point of Sale (POS) Terminal Market

Report Spotlights

  • Progressive trends in the Point of Sale (POS) Terminal industry to help players develop effective long-term strategies
  • Business growth strategies adopted by companies to secure growth in developed and developing markets
  • Quantitative analysis of the global Point of Sale (POS) Terminal market from 2023 to 2031
  • Estimation of the demand for Point of Sale (POS) Terminal across various industries
  • Porter's Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the Point of Sale (POS) Terminal industry
  • Recent developments to understand the competitive market scenario and demand for Point of Sale (POS) Terminal
  • Market trends and outlook, and factors governing the growth of the Point of Sale (POS) Terminal market
  • Understanding the strategies that underpin commercial interest with regard to the market growth, aiding in the decision-making process
  • Point of Sale (POS) Terminal market size at various nodes of market
  • Detailed overview and segmentation of the market, as well as its industry dynamics
  • Point of Sale (POS) Terminal market size in various regions with promising growth opportunities

Point of Sale (POS) Terminal Market Key Players

The global POS Terminal market is dominated by Cisco Systems, Inc., Centerm Information Co., Ltd., Diebold Nixdorf, Incorporated, Hewlett-Packard Inc., Hisense, Ingenico, NCR Corporation, NEC Corporation, Newland Payment Technology, Oracle Corporation, Panasonic Corporation, PAX Technology Corp., Posiflex Technology, Inc., Samsung Electronics Co., Ltd., SZZT Electronics Co., Ltd., Toshiba Corporation, and VeriFone Systems Inc.

To view Top Players, Segmentation of Point of Sale (POS) Terminal Industry, Get Customization Report: https://reportsandinsights.com/free-customization/1298

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