Point of Sale Market - Industry Analysis, Size,Trends and Forecast 2023 by Arizton Advisory & Intelligence

The global point of sale market is expected to cross $9.8 billion by 2023.

Ingenico, Fujian Newland Payment Technology, PAX Global Technology, and Verifone Systems are the leading vendors in the global market. The market is expected to grow significantly at a CAGR close to 12% during the period 2017−2023. The market is majorly driven by increased digital payments, introduction of mobile payment solutions, penetration of EMV-compliant terminals, and high demand from the healthcare and retail segments. APAC is tipped to continue as the highest growing region during the period 2017-2023 with an expected CAGR of 11.41%, which is greater than the expected global CAGR of 10.62% in terms of shipment during the same period.

View report: https://www.arizton.com/reports/market-analysis/point-of-sale-market

Major vendors included in the report are as followings:

Ingenico
Fujian Newland Payment Technology
PAX Global Technology
Verifone Systems

Other prominent vendors mentioned in the report are BBPOS, Bitel, Castles Technology, Centerm, Dspread Technology, Hangzhou Sunyard, Nexgo (Shenzhen Xinguodu Technology), New POS Technology, Spire Payments, and SZZT Electronics. First Data, CyberNew, Spectra Tech, Shenzhen Justtide, Aisino (Previous Vanstone), Yarus, Equinox Payments, and Bluebird are a few emerging vendors in the market.



Point of Sale Market Dynamics

Technology and government regulations to drive market growth

The global point of sale market witnessed a tremendous rise in the demand for mobile payment terminals in APAC and the US. The US also witnessed a huge surge in NFC-ready and EMV-compliant mPOS shipment which is driven by the launch of new product models and mandatory government regulations to switch to chip-based cards.

A strong demand for these products and increased end-users’ spending sentiments worldwide will be the major driving factors for the growth of the global market over the next five years.

Point of Sale Market: Segmental Analysis

mPOS segment to lead the global market

The mPOS terminals segment comprised of a significant percentage of the revenue of the global market in 2017 compared to 77.15% generated from the fixed devices segment. However, the moblile point of sale segment is expected to grow at a rapid rate in terms of unit shipment during the period 2017–2023, which is higher than the global unit shipment CAGR of 10.62% during the same period.

The EMV terminals will witness a more consistent and faster growth during the period 2018–2023, as compared to the Non-EMV terminals, as many governments such as the US have mandated the use of chip-based cards in their respective countries.

In terms of unit shipment, the NFC-ready terminals accounted for more than 33% of the market share in 2017 and is expected to continue to gain market share during the forecast period.

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About Arizton Advisory & Intelligence

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This release was published on openPR.