Point-of-Sale Terminal Market Worth $152.5 Billion by 2029

Meticulous Research®, a prominent global market research company, has released a research report titled "Global Forecast to 2029 - Point-of-Sale Terminal Market." In accordance with this recent publication, the global point-of-sale terminal market is anticipated to achieve a valuation of $152.5 billion by 2029, exhibiting a substantial Compound Annual Growth Rate (CAGR) of 9.9% from 2022 to 2029. In terms of volume, the market is forecasted to reach 687.4 million units by 2029, experiencing a CAGR of 12.0% during the forecast period.

The growth of the point-of-sale terminals market is fueled by the increasing adoption of mobile-based POS terminals, the widespread use of Europay, Mastercard, and Visa (EMV) Cards, and the rising deployment of POS terminals in the retail and e-commerce sector. However, challenges such as data security concerns, misconceptions, and a lack of standardization regarding POS terminal technology are expected to slightly restrain market growth. Nonetheless, the growing demand for contactless and cashless payments in developed and developing regions is anticipated to provide substantial growth opportunities for the point-of-sale terminals market.

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To ensure thorough analysis, Meticulous Research® has segmented the market based on components (POS hardware and services), operating systems (Android-based POS terminals, Windows-based POS terminals, and other operating systems), end-users (retail, hospitality, healthcare, transportation, sports & entertainment, government, utilities, and other end users), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also assesses industry competitors and analyzes regional and country-level markets.

In 2022, the POS hardware segment is expected to dominate the point-of-sale terminals market, driven by the growing demand for wireless communication technologies, increased focus on POS terminal-centric capabilities, rising data visibility through cloud POS systems, and a surge in demand for contactless and cashless payments.

The android-based POS terminals segment is anticipated to hold the largest market share in 2022 within the operating system category. This dominance is attributed to the increasing adoption of cloud-based and android POS devices, coupled with the growing use of wireless technologies in mobile handsets.

In the same year, the retail segment is projected to capture the largest market share among end-users. This is owing to the escalating penetration of e-commerce platforms, a growing emphasis on contactless payments, increased adoption of in-store mobile payments, and robust growth in the global retail industry. Additionally, advanced features such as efficient invoice systems, discount offers, inventory management systems, data backup, and customer record maintenance contribute to the attractiveness of POS terminals for retailers.

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Geographically, the Asia-Pacific region is expected to command the largest share of the point-of-sale terminals market in 2022. The region's high revenue share is attributed to the presence of prominent key players, rapid economic growth in major countries such as China, Japan, India, and South Korea, and the growing modernization of the payment industry. Factors such as the increasing prominence of Small and Medium-sized Enterprises (SMEs) and widespread use of wireless POS terminals across various industries, including retail, hospitality, and entertainment, are key contributors to the demand for point-of-sale terminals in the region.

Key Players:
The key players operating in the point-of-sale terminals market include NCR Corporation (U.S.), Ingenico Group S.A. (France), Hewlett Packard Enterprise (U.S.), VeriFone, Inc. (U.S.), Toshiba Corporation (Japan), PAX Global Technology Limited. (China), Elavon Inc. (U.S.), Castles Technology Co., Ltd. (Taiwan), BBPOS International Limited. (China), Block, Inc. (U.S.), Cegid Group (France), Diebold Nixdorf, Incorporated. (U.S.), Newland Payment Technology (China), NEC Corporation (Japan), and Oracle Corporation (U.S.).

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Scope of the Report:

Point-of-Sale Terminal Market, by Component

POS Hardware
Mobile POS Terminals
Fixed POS Terminals
Services

Point-of-Sale Terminal Market, by Operating System

Android-Based POS Terminals
Windows-Based POS Terminals
Other Operating Systems (MAC and iOS)

Point-of-Sale Terminal Market, by End User

Retail
Hospitality
Healthcare
Transportation
Sports & Entertainment
Government
Utilities
Other End Users (Warehouse and Education)

Point-of-Sale Terminal Market, by Geography

North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Singapore
South Korea
Australia & New Zealand
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa

To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/point-of-sale-terminal-market-5357

About Meticulous Research®

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

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This release was published on openPR.