Virtual Payment (POS) Terminals Market Size, Future Prospects, Major Players, Competitive Strategies, Growth Drivers And Challenges || Castles Technology, Diebold Nixdorf, Incorporated, NCR Corporation, Panasonic Corporation

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Virtual Payment (POS) Terminals Market Size, Growth Rate, And Forecast

The global virtual payment (pos) terminals market size grew from $10.51 billion in 2022 to $13.9 billion in 2023 at a compound annual growth rate (CAGR) of 32.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The virtual payment (pos) terminals market size is expected to grow to $44.96 billion in 2027 at a CAGR of 34.1%.

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Virtual Payment (POS) Terminals Market Drivers

The increasing prevalence of digital payment methods is driving the virtual payment (POS) terminals market. The digital revolution has increased access to and use of financial services globally, changing how people send and receive payments, borrow money, and save money. In addition to the global spread of formal financial institutions, the COVID-19 epidemic has sparked financial inclusion and led to a significant rise in digital payments. Virtual payment (POS) terminals aid digital payments and manage the payments over the phone, through the mail, fax, email, or in person. For instance, in 2021, according to McKinsey's 2021 Digital Payments Consumer Survey, digital payments grew by 12% during 2020-2021 period. Thus, the increase in digital payments is expected to boost demand for virtual payment (POS) terminals during the forecast period.

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Virtual Payment (POS) Terminals Market Segments

• By Solution: Software Platform, Professional Services

• By Industry: Retail, Warehouse, Hospitality, Consumer Electronics, Food and Beverages, Healthcare, Entertainment, Other Industries

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the virtual payment (POS) terminals market.

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Virtual Payment (POS) Terminals Market Key Players
Major competitors in the virtual payment (POS) terminals market are Castles Technology, Diebold Nixdorf, Incorporated, NCR Corporation, Panasonic Corporation, PAX Technology, CitiXsys Technologies, VeriFone, Inc., Elavon Inc.

The Business Research Company's "Global Virtual Payment (POS) Terminals Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.

The Table Of Content For The Virtual Payment (POS) Terminals Market Include:
1. Executive Summary
2. Virtual Payment (POS) Terminals Market Characteristics
3. Virtual Payment (POS) Terminals Market Trends And Strategies
4. Virtual Payment (POS) Terminals Market - Macro Economic Scenario
5. Virtual Payment (POS) Terminals Market Size And Growth
………………
27. Virtual Payment (POS) Terminals Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Virtual Payment (POS) Terminals Market
29. Virtual Payment (POS) Terminals Market Future Outlook and Potential Analysis
30. Appendix

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