Global POS terminal market is forecast to exhibit a CAGR of more than 9% during the forecast period of 2019-2024, growing from $ 14.53 trillion in 2018 to $ 24.25 trillion by 2024, owing to increasing use of Europay, Mastercard and Visa (EMV) cards. Point of sale (POS) terminals are used for handling payments and checkouts. Modern POS terminals integrate multiple systems into a single terminal to manage operations such as printing, card payments, billing and cash collection. Moreover, need for user-friendly, secure and convenient payment options is bolstering the growth of global POS terminal market. Large number of debit and credit card transactions is pushing the demand for POS terminals among retailers and other end-users. Additionally, reduction in the cost of POS systems and government initiatives to promote cashless transactions in various countries are expected to fuel global POS terminal market in coming years.
Global POS terminal market can be segmented based on product type, deployment, EMV compliance and End Use industry. Based on product type, the market can be segmented into fixed, portable and mPOS. Fixed POS held the major share in 2018, however, its market share is expected to decline during forecast period due to increasing demand for portable and mPOS terminals. POS terminals cater to various industries such as retail, travel & hospitality, media & entertainment, manufacturing, healthcare, education and others. Retail sector captured majority of the share in 2018 and the trend is likely to continue in the coming years, as POS systems allow easy and fast billing.
Asia Pacific dominated the market in 2018 and is expected to witness significant growth during the forecast period, on account of growing disposable income and increasing number of government initiatives to promote digital economy in various countries in the region.
Major players operating in global POS terminal market include Ingenico Group S.A., Verifone Systems Inc., Fujian Newland Payment Technology Co., LTD Centerm Information Co., LTD, PAX Technology etc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. In 2017, Verifone launched Verifone Carbon 8, which is an affordable and portable POS solution. Additionally, the company has collaborated with Sage to offer integrated POS and business accounting solution on Verifone Carbon 8.
Years considered for this report:
- Historical Years: 2014-2017
- Base Year: 2018
- Estimated Year: 2019
- Forecast Period: 2020-2024
Objective of the Study:
- To analyze and forecast global POS terminal market size.
- To classify and forecast global POS terminal market based on product type, deployment, EMV compliance, industry and regional distribution.
- To identify drivers and challenges for global POS terminal market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global POS terminal market.
- To identify and analyze the profile of leading players operating in global POS terminal market.
Some of the leading players in global POS terminal market are Ingenico Group S.A., Verifone Systems Inc., Fujian Newland Payment Technology Co., LTD Centerm Information Co., LTD, PAX Technology, etc.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the globe.
TechSci Research calculated global POS terminal market size using a bottom-up approach, where data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- POS Terminals Manufacturers.
- Suppliers & Distributors
- Research organizations and consulting companies
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to POS Terminal
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as manufacturers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global POS terminal market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Market, by Product Type:
- Market, by Deployment:
- Market, by EMV Compliance:
- Market, by Industry:
o Travel & Hospitality
o Media & Entertainment
- Market, by Region:
Rest of Asia-Pacific
Rest of Europe
o North America
o South America
Rest of South America
o Middle East & Africa
Rest of Middle East & Africa
Company Profiles: Detailed analysis of the major companies present in global POS terminal market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).