Global Point-of-Sale Terminals Market was valued at USD 73.82 billion in 2019 which is expected to reach USD 178.25 billion by 2027 at a CAGR 15.21%.
Point-of- sale is a type of hardware system which used to handle the card payments at retail locations. Point-o-sale software manages the transaction during the sale of product or service. Rise in concentration of businesses and growing customer frequency which significantly grow the market growth over the forecast period.
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Increase in demand for contactless and cashless payments is the key driving factor which is expected to boost the global point-of-sale terminals market. Also, rise in technological advancements will have the positive impact on market growth. Furthermore, increase in adoption of digital technology in various sectors including healthcare, retail, restaurants, hospitality etc will fuel the market. Moreover, rise in penetration of smartphones and tablets will propel the market growth. In addition to that, rise in investments in end-to-end encryption technology for secure payment solutions to customers which is expected to augment the demand for point-of-sale terminals in near future.
However, data security concern is the major restraining factor which is expected to hamper the global point-of-sale terminals market. Also, lack of standardization will affect the market growth.
Global Point-of-Sale Terminals Market is segmented into product such as Fixed, and Mobile, by component such as Software, Hardware, and Service, by deployment such as On-Premise, and Cloud. Further, market is segmented into application such as Entertainment, Warehouse/Distribution, Retail, Healthcare, Hospitality, Restaurants, and Others.
Also, Global Point-of-Sale Terminals Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as Toshiba Corporation, Panasonic Corporation, Micros Systems, Inc, NCR Corporation, PAX Technology, POS Direct Ltd., Epicor Software Corporation, Bucher Industries AG, and Diebold Nixdorf.
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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