Retail Point-of-Sale Terminals Market Insights
The Retail Point-Of-Sale Terminals Market is assessed for significant traction over the next few years. The rising consumer interest in non-cash transactions would drive market growth. Market Research Future (MRFR) confirms that the global retail point-of-sale terminals market will escalate from USD 22.9 BN in 2022 to USD 68.3 BN by 2032, growing at a 12.90% CAGR throughout the assessment period (2023-2032).
The demand for new POS terminals that can simplify card payments for retail establishments of all sizes and offer a safe and seamless experience impacts the market growth positively. The global retail industry is undergoing significant innovations due to consumer preference for convenience and simplicity. Furthermore, advances in technologies such as IoT, contactless payments, and cloud substantiate the retail point-of-sale terminal market share.
The recent COVID-19 pandemic regulations mandated contactless payments, and consumers increasingly turned to cashless transactions. As a result, this boosted the installation of POS terminals in various businesses. Besides, growing advances in finance technologies and cloud POS solutions have enabled the market to garner substantial traction over recent years. Rising innovations in POS terminals positively impact the growth of the market.
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Major Players:
Leading retail point-of-sale terminals market players are
- AURES Group,
- Acrelec,
- HM Electronics,
- NCR Corp.,
- Hewlett Packard Development LP,
- Oracle, Qu, Inc.,
- Presto Group,
- Quail Digital,
- Toast, Inc.,
- Revel Systems,
- Toshiba Corp.,
- Xenial, Inc., and
- TouchBistro, among others.
Global Retail POS Terminals Market – Segments
The report segments market dynamics into products, components, applications, and regions. The product segment is sub-segmented into mobile and fixed. The component segment is sub-segmented into software, hardware, and services. The application segment is sub-segmented into department stores, supermarkets/hypermarkets, warehouse discount stores, specialty stores, and others. By region, the retail point-of-sale terminals market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and rest-of-the-world.
Retail Point-of-Sale Terminals Market – Regional Analysis
North America leads the global retail point-of-sale terminals market. The growing use of cloud-based POS solutions by small and medium-sized businesses drives market growth. Besides, the expanding number of restaurants and retailers boosts the retail point-of-sale terminals market size. The region witnesses vast R&D investments to advance financial solutions and automation technologies.
Besides, the large presence of POS terminal providers and the development of payment solutions boost the market size. The growing popularity of seamless omnichannel platforms integrating with card or without card transaction processing substantiates the region's retail POS terminal market share. The US, Canada, and Mexico account for sizable shares in the regional market, witnessing the faster adoption of POS platforms.
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Global Retail POS Terminal Market – Competitive Analysis
The market appears highly competitive due to the presence of prominent players having an international and regional presence. These companies aggressively seek to increase participation and collaborations to expand their footprints and offerings to target potential clientele. The market will likely witness intensified competition with innovations, increased R&D investments, and M&A.
Industry/ Innovation/ Related News:
June 13, 2023 --- Payabl., a leading payment solutions provider, launched a new point-of-sale terminal for European retailers. Payabl. 's newly launched POS terminals are specifically designed to enhance the omnichannel payment experience for retailers by enabling them to use a single provider for both online and in-store payments. The company has a strong presence across the European Union, including regional offices in the Netherlands, Germany, Italy, Lithuania, Cyprus, Poland, and the UK.
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