Point of Sale (POS) Terminal Market Booming at 87 Billion by 2027 with a CAGR of 9% | First Data, Winpos, BITEL, Cegid, Moneris, Elavon, Castles, Newland, CITIXSYS, Touchbistro

The global POS terminal market is expected to reach over approximately USD 87 billion by 2023 growing at a 9% CAGR over the forecast period 2018-2023. Global Point Of Sale (Pos) Terminal Market Research Report, By Component (Hardware, Software, and Services), By Product Type (Fixed and Wireless), By Deployment (On-Cloud and On-Premises), and By End-User by Forecast Till 2023

Market Highlights:

Increase in adoption rate in card transaction such as Euro Pay, MasterCard, and Visa (EMV) cards among the consumer for the retail purposes and increase in implementation of wireless technology through smartphones are anticipated to propel the demand for wireless POS terminals.

The Wireless POS Terminal market is bifurcated based on component, type, and end-user.

By component, the wireless POS terminal market is sub-classified as hardware and software solutions. The hardware sub-segment comprised payment terminal, accessories and workstation. The payment terminal consists of smartphones and tablets associated with debit or credit card readers and accessories comprises monitors, receipt printers, barcode scanners, wireless bar code scanners, PIN pad, cash drawers ,physical inventory scanners, and tag printers.

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Furthermore, the software solutions comprises content management, asset
management, configuration solutions, and others. The service sub-segmented into merchant services, installation services, transaction management services, and others.

By the type, wireless POS terminal is further classified as portable countertop & pin pad, mPOS, smart POS and others.

By end-user segment, the wireless Point of Sale Terminal Market is categorized into retail & e-commerce, hospitality, medical & healthcare, automotive & transportation, sports & entertainment, and other Industries.

Key Players:

Some of the key players of wireless POS terminal market include Ingenico (France), Verifone (U.S.), First Data (U.S.), Winpos (Finland), BITEL (Korea), Cegid Group (France), Moneris (Canada), Elavon (U.S.), Castles Technology (Taiwan),Newland Payment Technology (China), CITIXSYS AMERICAS (U.S.), Touchbistro (Canada), PAX Global Technology (Hong Kong), NCR Corporation (U.S.), Diebold Nixdorf (U.S.), Squirrel Systems (Canada), and BBPOS (Hong Kong).

Regional Analysis:

Geographically, the Wireless POS Terminal market are categorized into four different regions such as North America, Asia Pacific, Europe and the Rest of the World.

North America is expected to be a prominent region in the wireless POS terminal market over the forecast period. The U.S. and Canada are the leading countries in the region attributed to the rising enhancement in payment industry associated increase in solution providers specifically concentrated on customized or business-specific solutions. In the light of these factors, the Wireless POS Terminal market is anticipated to be driven over the review period 2017-2023. Owing to, rising awareness for online transaction particularly in retail and e-commerce sector, Asia Pacific region is expected to be the fastest growing region in wireless POS terminal market over the forecast period 2017-2023. Additonally, India is expected to be the fastest growing economy for the wireless POS terminal attributed to post demonetization effects.

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Segmentation:

The POS terminal market is differentiated by component, product type, deployment, and end-user.

By component, the POS terminal market is sub-segmented as hardware, software, and services. Based on hardware, the market is categorized as mobile devices such as tablets and smartphones synchronized with a debit/credit card reader, cash drawers, monitors, and others. Based on services, the segment is categorized as professional services and managed services. On the basis of deployment, the market is segmented as on-premises and on-cloud. Furthermore, by the product, the POS terminal is classified as fixed terminal and wireless POS terminal. Based on end-user, the market is classified as retail, warehouse, healthcare, restaurants, hospitality, entertainment, and others.

Target Audience:

• Research Firms.
• Government Agencies
• Point of Sale terminal Service Providers
• Associations, organizations, forums and alliances related to Point of Sale terminal
• Software solution providers
• Educational Institution, University and Research Organization.

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