The Global Point-of-Sale (POS) Terminals Market is anticipated to reach USD 116.06 billion by 2025 due to considerable rise in the demand for reasonably priced wireless technologies and mobile POS terminals. A Point-of-sale Terminal is an electronic device that processes card payments at different retail provisions.
The device reads the customer’s debit cards or credit card’s information, checks if the customer’s bank account funds are sufficient, transfer the funds from the customer’s account to the retailer’s account, and records the transaction and print receipts. The Point-of-sale Terminals are a combination of hardware and software that accepts card payments which do not require updating of cash registers for direct card reading. The installation cost of POS terminals differ with the business size and terms of the supplier. The smaller traders may have to pay the terminal rent and also additional per-transaction charge.
The POS Terminals Market is widely used in the sectors like retail, warehouse distribution, healthcare, hospitality sectors, etc. A large number of players across the globe characterizes the market. The existence of the growing number of players is heavily strengthening the Point-of-Sale Terminals industry competition. This competition is expected to be a positive influence for the market growth as it will continuously motivate the players to adopt modern technologies and boost the market with improved solutions. The Point-of-Sale (POS) Terminals industry is predicted to experience more newcomers in the forecast period.
Two major benefits of Point-of-Sale (POS) Terminals are accuracy and analysis. The scanning of Point-of-Sale Terminals are very accurate than the punching numbers from a sticker. The POS Terminals allow to manage the inventory, flag products for recording, and analyze the sales patterns. The persistent requirement for the trendy enhanced software is expected to drive the market. Hottest advancements in the screen-touch technology have helped the POS functioning, which again augments the global market. Above all, this effective device helps to reduce manual errors, which rises its acceptance across different segments and boost the market growth. However, the security issue related to this technology restricts the growth of POS Terminals industry.
From among the wide applications of Point-of-Sale Terminals like supermarkets, restaurants, grocery, field service, hospitality lodging, retail, government, healthcare, and warehouse/distribution, the retail area is leading area due to the growing popularity of technology driven payment options in the retail industry. Another leading application of POS Terminals is observed in the healthcare industry. Similarly, the warehouse industry will also experience a strong growth due to the rising acceptance of mobile POS terminals.
The Point-of-Sale (POS) Terminals industry is categorized on the basis of product type, components, application, and geography. On the basis of product type, POS Terminals market is divided into Fixed POS and Wireless &Mobile POS. The fixed POS is predicted to hold a larger Point-of-Sale Terminals market share owing to the growing acceptance in different parts of the world. On the basis of components, the market is categorized into hardware and software. These are the main components of the device. Attributed to the growing demand from the hospitality and retail industry, the POS software is predicted to experience substantial growth in the coming years. On the basis of application, the Restaurant Point-of-Sale Terminals industry is divided into Hospitality, Healthcare, Retail, Warehouse / Distribution, Entertainment, Field Service, Government and Transportation, out of which, retail is expected for maximum dominance due to the flexible transaction volume.
Geographically, the Point-of-Sale (POS) Terminals market is divided into Europe, North America, Latin America, Africa and Middle East. North America is expected to dominate the market due to high technology adoption rate and great demand for POS terminals from hospitality and retail sectors.
POS Terminals Product Outlook (Revenue, USD Billion, 2014 - 2025)
POS Terminals Component Outlook (Revenue, USD Billion, 2014 - 2025)
POS Terminals Deployment Outlook (Revenue, USD Billion, 2014 - 2025)
POS Terminals Services Outlook (Revenue, USD Billion, 2014 - 2025)
• Managed Services
• Repair and Maintenance services
• Professional Services
POS Terminals Application Outlook (Revenue, USD Billion, 2014 - 2025)
Point-of-Sale (POS) Terminals Regional Outlook (Revenue, USD Billion, 2014 - 2025)
• North America
• Asia Pacific
• South Korea
• Latin America
• Middle East & Africa
Research Support Specialist, USA