2017 Point-of-Sale (POS) Terminals Market, By Type - Fixed POS Terminals and Wireless and Mobile POS

Point-of-sale (POS) terminals are used for making payments, printing bills, inventory management and carrying out loyalty programs across various end-use verticals such as retail, hospitality and entertainment. POS terminals are increasingly finding growth in demand as these products enable ease of making payment and offer low total cost of ownership (TCO). The global POS terminals market was valued at USD 36.86 billion in 2013 and is expected to grow at a CAGR of 11.6% during the forecast period 2014 – 2020.

The high adoption of POS terminals across the retail, hospitality, healthcare, and warehouse / distribution industry is driven by ease of use and high return on investment. . Types of POS terminals include fixed POS terminals and wireless and mobile POS terminals. Mobile POS (mPOS) offers many advantages over fixed POS such as low cost and enhanced mobility. Further, it offers ease of use, as any mobile or tablet can be converted into mobile POS by simply attaching a reader with it. Thus, mPOS terminals are expected to experience high growth in demand over the coming years. Components of POS systems include hardware and software. POS hardware devices include payment terminal (reader), workstation and accessories (receipt printer, cash drawer, bar code scanner, wireless bar code scanner, physical inventory scanner, PIN pad, and tag printers).

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POS applications include use of POS terminals in restaurant, grocery/supermarket, hospitality-lodging, healthcare, retail, warehouse/distribution, field service, and government. Retail was the largest application segment for the POS terminals in 2013. Fast bill processing, maintaining customer database, data backup, inventory management, offering special discounts and managing loyalty program of retail store are some of the major functions carried out by POS terminal systems. In recent years, various advancements in POS terminal systems such as adoption of real time analytics features are being observed and are leading to the growth of overall POS terminals market. Adoption of POS terminals across healthcare industry along with their growing use in warehouse management is expected to drive the market in future.

In 2013, North America was the largest market for POS terminals in terms of revenue. The region has experienced significant adoption of POS terminals across various industries such as retail and entertainment. Continuous demand for POS solutions across countries such as Canada and the U.S. is attributed to significant growth of retail stores, quick service restaurants and casinos in the region. In Europe, compliance requirements such as EuroPay, MasterCard and Visa (EMV) regulation are driving the growth of POS terminals market as these have enhanced the security of payments. Germany, France, and UK are experiencing significant growth in the POS terminals market for healthcare application due to significant investment in technology to upgrade healthcare facilities in these countries. Asia Pacific region is expected to be the fastest growing region owing to expanding retail and hospitality sectors in China and India. Demand from countries such as Japan, China, India, Hong Kong and Australia is expected to drive Asia Pacific market in coming years. Increasing demand for mobile POS from small and medium size businesses is expected to further drive the growth POS terminals market in rest of the world (RoW) region. Wal-Mart and other big retail chains are expanding their business in Latin America and this has led to growing demand for POS solutions in the region.

The global POS terminals market is fragmented with intense competition among players. Key players in POS terminals market include Ingenico S.A., NEC Corporation, PAX Technology Limited, MICROS Systems Inc., VeriFone Systems Inc., Cisco Systems Inc., Hewlett-Packard Company, Toshiba Corporation, Panasonic Corporation and Samsung Electronics Co. Ltd.

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