POS Terminal Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
Emphasis on Component (Software and Hardware); Product (Fixed and Mobile); Deployment (On-Premises and Cloud); Application (Restaurants, Hospitality, Healthcare, Retail, and Others) and Region/Country.
Global POS Terminals Market is expected to grow at a significant rate of around 8% during the forecast period. “A POS system is computer hardware and software that manages the transaction during the sale of a product or a service. It helps to store, capture, share, and report data related to sales transactions. It eases the shopping experience and helps to expedite the checkout process, resulting in customer satisfaction. Inventory management, stock in hand, availability of a product, and pricing information are primary data that are acquired from the systems.
The introduction of mobile POS (mPOS) terminals to accept contactless payments directly through consumers’ cell phones has been prompted by the rise in the use of contactless payments. Mobile POS terminals’ rising popularity has opened up new opportunities for market expansion. Furthermore, the ease of use and improved Return on Investment (ROI) offered by these systems has favorably impacted the market. Also, the rising need for employee and customer management, inventory tracking, and online & in-store sale unification through tablets has boosted product adoption.
Acrelec, AURES Group, Elo Touch Solutions, HM Electronics Inc, Hewlett-Packard Development Company, NCR Corporation, Oracle Corporation, Presto, Qu Inc, Quail Digital are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst component, the hardware category to witness higher CAGR during the forecast period”
Based on components, the market is segmented into software and hardware. The hardware segment is expected to witness higher CAGR during the forecast period. The growing advancements and innovations in POS hardware are expected to drive the market. Furthermore, growing investments by key market players are also expected to propel the market growth.
“Amongst product, the fixed segment is expected to hold a significant share in the market in 2020”
Based on product, the market is segmented into fixed and mobile. The fixed segment is expected to grow at a significant rate during the forecast period. The growing adoption of fixed POS can be attributed to the wide range of features and functionality such as a cash drawer, employee time clocks, and the capability to manage loyalty programs and gift cards.
“Asia Pacific to hold a significant share in the market”
The Asia Pacific region is expected to hold a significant CAGR during the forecast period. The growing technological adoption and various government initiatives to support a cashless economy are expected to drive the growth of POS terminal market in the region. Furthermore, a rise in digital payment technologies in the region has opened many opportunities for POS in countries such as Japan, China, and India.
Reasons to buy this report:
- The study includes market sizing and forecasting Analytics validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers in-depth Analytics of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level Analytics of the industry.
The global POS terminals market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
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|2.1.||Research Process of the POS Terminal Market|
|2.2.||Research Methodology of the POS Terminal Market|
|5||IMPACT OF COVID-19 ON THE POS TERMINAL MARKET|
|6||POS TERMINAL MARKET REVENUE (USD BN), 2020-2028F|
|11.1.3.||Rest of North America|
|11.2.2.||The United Kingdom|
|11.2.6.||Rest of Europe|
|11.3.4.||Rest of Asia-Pacific|
|11.4.||Rest of World|
|13||POS TERMINAL MARKET OPPORTUNITIES|
|14||POS TERMINAL MARKET TRENDS|
|15.1.||Demand Side Analysis|
|15.2.||Supply Side Analysis|
|16||VALUE CHAIN ANALYSIS|
|17.1.1.||Porters Fiver Forces Analysis|
|18.3.||Elo Touch Solutions|
|18.4.||HM Electronics Inc|
|18.5.||Hewlett-Packard Development Company|
Research Methodology for the POS Terminals Market Analytics (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global POS terminals market were the three major steps undertaken to create and analyze the adoption of POS terminals in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global POS terminals market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analytics of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the POS terminals market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the POS terminals market, we conducted detailed secondary Analytics to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as component, product, deployment, and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analytics:
After acquiring the historical market size of different segments and sub-segments, we conducted detailed factor Analytics to estimate the current market size of the POS terminals market. Further, we conducted factor Analytics using dependent and independent variables such as various components, products, deployment, and application of POS terminals. A thorough Analytics was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the POS terminals market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global POS terminals market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the POS terminals market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global POS terminals market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical Analytics was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global POS terminals market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of the component, product, deployment, and application in the global POS terminal market.
The main objective of the Global POS Terminals Market Study
The current & future market trends of the global POS terminals market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative Analytics performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the POS terminals market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of the component, product, deployment, and application.
- Define and Analytics of the regulatory framework for the POS terminal
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the POS terminals market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the POS terminals market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level Analytics of the industry