Point of Sale (POS) Terminals Market : Up-To-Date Analysis by 2028 | by Qu Inc, Quail Digital, Acrelec

New Jersey, United States - Analysis of Point of Sale (POS) Terminals Market 2022 to 2028, Size, Share, and Trends by Type, Component, Application, Opportunities, Growth Rate, and Regional Forecast

The size of the world market for Point of Sale (POS) Terminals was estimated at USD 85.16 billion in 2021 and is anticipated to rise at a CAGR of 8.5% from 2022 to 2030. Due to supply chain interruption and end-user revenue loss in 2020, the COVID-19 pandemic had a detrimental effect on market growth overall. Nevertheless, when the virus's intensity decreased, it was observed that a number of end-use sectors were shifting to contactless and cashless payments. The demand for Point of Sale (POS) Terminals has surged as a result of the spike in interest in inexpensive wireless communication technology. Wireless devices are used by Point of Sale (POS) Terminals systems to enable payments for goods and services. Wireless technology can be used to streamline many activities, from restaurants to cab services.

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Point of Sale (POS) Terminals are used by businesses in the hospitality and retail industries for payments as well as other operational duties including inventory control, sales tracking, and accounting. To track sales, operations, products, and inventory, bars, restaurants, and foodservice providers, for example, heavily rely on Point of Sale (POS) Terminals systems. One of the key elements encouraging the growth of Point of Sale (POS) Terminals is the development of the modern drive-thru. In order to connect their drive-thru line, kitchen, and back-office operations for a seamless order and delivery procedure, several businesses have started using POS systems.

However, due to their function and exposed location throughout the network, Point of Sale (POS) Terminals are difficult to secure. These systems must be managed from remote locations since they handle sensitive data. The potential for identity threats is thus a significant effect of Point of Sale (POS) Terminals breaches. These victims may experience financial loss, a damaged credit rating, and fraudulent transactions. Therefore, it is anticipated that compensatory controls to govern the data flow will improve. Due to the COVID-19 pandemic's social isolation and lockdown regulations, this market's growth slowed significantly. Many end-use verticals sustained losses as a result, which ultimately reduced the demand for new fixed Point of Sale (POS) Terminals in 2020. However, since the pandemic's severity has decreased as a result of a decline in positive cases and vaccine campaigns, nations all around the world have loosened restrictions and resumed business as usual

Segmentation
More than 50.0% of the total revenue share for the market was accounted for by the fixed product segment in 2021. Kiosks and other items are further divided under the fixed POS category. Large-scale retailers favour fixed Point of Sale (POS) Terminals primarily because of the high installation and procurement costs, which have recently encouraged the market's expansion. Additionally, end users who are wary about using the cloud for data storage are likely to install fixed Point of Sale (POS) Terminals to save their data on an on-site server. The Point of Sale (POS) Terminals has numerous uses, including printing checks, supporting payment devices, managing customer relationships (CRM), and managing inventory.

The Point of Sale (POS) Terminals market is divided into cloud and on-premises deployment categories. From 2022 to 2030, the cloud category is anticipated to experience a substantial CAGR of over 10.0%. The rising use of SaaS technologies and software integration is blamed for this expansion. In the SaaS model, users pay a minimal monthly price on a subscription basis rather than purchasing all the software, hardware, and support services up front. This lowers the upfront costs for eateries and other end customers.

Regional analysis
According to projections, the region with the quickest rate of growth will be Asia Pacific. The demand for Point of Sale (POS) Terminals in this region is rising as a result of government attempts to foster a cashless economy. Many new prospects for mPOS have arisen as a result of the region's growing adoption of digital payment methods in nations like Japan, China, and India. However, the need for fixed Point of Sale (POS) Terminals from large businesses to safeguard their corporate information and guarantee the processing of enormous volumes of client data is fostering the segment's expansion.

North America, which overtook Europe as the second-largest regional market in 2021, is anticipated to expand at a steady 5.0%+ CAGR over the course of the projected period. The region's demand for products has been driven by a number of sophisticated payment technologies, including contactless payments and NFC.

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Key Players
Qu Inc.
Quail Digital
Acrelec
HM Electronics, Inc.
Hewlett-Packard Development Company, L.P.
NCR Corporation
AURES Group
Elo Touch Solutions
Oracle Corporation
Presto
Revel Systems
Toast, Inc.

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