Point of Sale (POS) Terminal Market worth USD 175.2 billion by 2030

The Market Statsville Group (MSG) publishes the new report on the "Point of Sale (POS) Terminal Market by Product (Fixed POS Terminal and Mobile POS Terminal), by Component (Hardware, Software, and Services), by Deployment Mode (Cloud and On-Premise), by Application (Restaurant, Hospitality, Healthcare, Retail, Warehouse, Entertainment, and Others), by Region – Global Share and Forecast to 2030".

The global point of sale (POS) terminal market size was USD 84.1 billion and is estimated to reach USD 175.2 billion by 2030. The market is projected to grow at a CAGR of 8.5% from 2022 to 2030. An increase in urbanization & industrialization is expected to result in growth in waste generation. In addition, the rise in residential and commercial sectors has also led to a rise in the amount of waste. Additionally, environmental problems such as soil, water, and air pollution have increased due to unplanned waste dumping over the last few years. In addition, an increase in environmental awareness has significantly fueled the demand for waste management in developed countries and is incorporated rapidly in developing countries. Moreover, the increase in smart city initiatives, specifically in North America and Europe, are expected to propel the point of sale (POS) terminal market growth. On the contrary, huge capital investments and a lack of efficient connectivity are anticipated to hamper the growth of the global point of sale (POS) terminal market.

Global Point of Sale (POS) Terminal Market Segmentation

The overall point of sale (POS) terminal market has been segmented into the product, component, deployment mode, application, and region.

• By Product (Fixed POS Terminal and Mobile POS Terminal)
• By Component (Hardware, Software, and Services)
• By Deployment Mode (Cloud and On-Premise)
• By Application (Restaurant, Hospitality, Healthcare, Retail, Warehouse, Entertainment, and Others)
• By Region (North America, South America, Asia Pacific, Europe, and the Middle East & Africa)

Hardware, by component, holds the largest market share during the forecast period

Based on component, the global point of sale (POS) terminal market is segregated into software, services, and hardware. The hardware segment generated the highest revenue in the global point of sale (POS) terminal market in 2021. The hardware component comprises of tablets, smartphone paired, computer desktop, touch screen display with a debit/credit card reader, barcode scanners, cash drawers, keyboard, mouse, printer, debit, and credit card scanner.

Furthermore, the software segment is expected to have a CAGR of over 10.0% during the projected period. Data support functionality, multipurpose features, and ease of sales analysis are all factors in this expansion. For many applications, there is specialized software. For example, inventory management, transaction notifications, accounting, and other features are included in retail POS software. The segment expansion is supported by the systematic software integration functionalities of screen terminals and barcode scanners across these systems, which provide backup features and data restoration.

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Asia Pacific accounts for the largest market share in the point of sale (POS) terminal market

Based on the regions, the global point of sale (POS) terminal market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, Asia Pacific accounted for the highest market share of 38.2% in the global point of sale (POS) terminal market and was anticipated to maintain its dominance throughout the forecast period. The POS market in China is mainly driven by the healthcare and warehouse industries due to the high adoption and widespread usage of POS terminals in these segments. Mobility has led to the advent of novel business models in the payment arena, driving innovations in financial transactions. NFC-based proximity solutions such as Android Pay and Apple Pay have also offered a platform for the further development of terminals in the country. Additionally, mobile wallet based on semi-closed platforms is also considered to drive market growth.

Developing economies such as China and India are becoming key investment areas for purveyors involved in the POS ecosystem due to favorable macroeconomic factors. In addition, factors such as a swiftly rising smartphone base, favorable government policies, and the presence of a huge number of small & micro-merchants are projected to spur market demand in the next few years.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the point of sale (POS) terminal market. It also consists of the profiles of leading companies such as Samsung Electronics Co. Ltd., Toshiba Global Commerce Solutions, NEC Corporation, Panasonic Corporation, NCR Corporation, Hewlett-Packard Inc., Ingenico Group, Fujian Newland Payment Technology Co. Ltd, VeriFone System Inc., and PAX Technology Inc.

Browse the complete report: https://www.marketstatsville.com/point-of-sale-terminal-market

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