Point of Sale Terminal Market Size and Share Analysis - Growth Trends and Forecast Report 2024-2032

Point of Sale Terminal Market Trends & Summary

The Global Point of Sale Terminal Market will reach US$ 193.41 billion by 2032, up from US$ 91.04 billion in 2023, with a CAGR of 8.73% between 2024 and 2032. The need for frictionless payment experiences, the growth of e-commerce, and increased retail automation are all driving the market's expansion. The efficiency and security of transactions are improved by technological advancements such as integrated software solutions and contactless payments. The use of contemporary point-of-sale (POS) systems across diverse industries is also propelled by the growth of small and medium-sized firms (SMEs) and the requirement for advanced data analytics.

The report Point of Sale Terminal Market & Forecast covers by Product (Fixed, Mobile), Component (Hardware, Software, Services), Deployment (On-Premises, Cloud), End Use (Restaurants, Retail, Healthcare, Warehouse, Hospitality, Entertainment, Others), Countries and Company Analysis 2024-2032.

Point of Sale Terminal Industry Outlooks

An electronic device called a Point-of-Sale (POS) terminal is used to process credit card payments at establishments like retail stores, petrol stations, hospitals, pharmacies, resorts, restaurants, and hotels. The market is in greater demand due to the rising need for affordable wireless communication technology. Wireless devices are used by point-of-sale (POS) systems to enable payments for goods and services. Wireless technology is used to expedite a number of processes, including those in restaurants and rental cars. POS terminals are used by companies in the retail and hospitality industries for inventory management, accounting, and other operational duties including remittance.

Growth Drivers in Point of Sale Terminal Market

Adoption of Contactless Payments is Rising

Contactless payments, with the shift in consumer preferences toward digital payments, have hugely contributed to growth in the POS terminal market. Companies are modernizing their point of sale terminals by incorporating modern POS systems supporting NFC-based transactions, mobile wallets, and other forms of digital payments. There is a trend of faster, safer, and more convenient transactional processes since the pandemic period. Retailers, restaurants, and service providers are up-gradation of their POS systems to improve customer experience, efficiency, and security. As the adoption of global digital payments continues to grow, the demand for advanced POS solutions is expected to increase further, thereby fueling market growth. BharatPe launched 'BharatPe One' in April 2024 as a one-all payment solution with POS, QR code, and speaker functionalities. Launched in 100 cities initially and 450 within six months.

E-commerce and retail sector POS terminals

Brick-and-mortar stores and online platforms require smooth payment processing solutions to efficiently handle transactions. Cloud-based and mobile POS solutions have gained prominence, allowing businesses to streamline their operations, enhance inventory management, and improve customer service. Omnichannel retailing, in which businesses connect physical and digital sales, is becoming increasingly popular, and this trend has further reinforced the requirement for flexible POS systems that support multiple payment options and real-time data processing. April 2024, Shopify's Point of Sale (POS) system seamlessly integrates customer data, orders, and payments for brick-and-mortar merchants. As unified commerce continues to grow in importance, retailers are looking to Shopify Partners to help them use Shopify POS to boost in-store sales.

Technological Advancements in POS Systems

Technological advancements are positively impacting the POS terminal market through AI-driven analytics, cloud-based solutions, and Internet of Things integration. The new POS systems can automatically track sales, provide real-time inventory management, customer relationship management, and fraud detection. Businesses are adopting these innovations to optimize operations, enhance security, and deliver a personalized shopping experience. Furthermore, AI-powered POS terminals give businesses insights into consumer behavior and sales trends, allowing them to improve decision-making. As technology evolves, the adoption of next-generation POS solutions is expected to accelerate. On January 2025, Salesforce stepped into retail as well with several new offerings - one of the new offerings consists of a library of Agentforce skills and also Retail Cloud comprising of a headless point of sale system. The POS made from the cloud-native PredictSpring, which is acquired last September, is that it is operated by retail store associates to execute the payment processing.

Challenges in the Point of Sale (POS) Terminal Market

Point of Sale terminals have security-related and cyber-based risks

As digital transactions increase, POS systems are considered a prime target for hackers attempting to find weaknesses in payment networks. Risks include data breaches, malware, and skimming for businesses and consumers. Regulatory compliance, including PCI DSS, adds complexity and costs to businesses. As security threats escalate, POS solution providers need to continually upgrade the encryption, authentication, and fraud prevention mechanisms for transaction safety and data protection.

High Initial Costs and Integration Issues

Advanced POS systems are capital-intensive in the initial stages and pose a significant barrier to SMEs. Implementing cloud-based or AI-powered POS solutions includes hardware costs, software licensing, and training costs. The integration of new POS systems with the existing business operations, ERP, and inventory management software can be complex. The businesses face compatibility issues and need additional customization and IT support. These financial and technical challenges slow down the adoption rates, especially in emerging markets.

United States Point of Sale Terminal Market

The United States is a dominant POS terminal market player since high adoption of digital payments, well-established retail, and advanced financial infrastructure are the real drivers for such expansion. Contactless and mobile wallet payments have exploded in the country, and businesses are upgrading their POS systems in the wake of the same. Large retailers, hospitality chains, and healthcare providers make investments in AI-enabled POS solutions to advance transaction security and customer engagement. However, cybersecurity risks and regulatory compliance remain significant concerns. As e-commerce and omnichannel retailing grow, the U.S.'s demand for innovative POS solutions continues to rise. In April 2024, Byte Federal, a leader in financial technologies, is excited to announce the launch of its point of sale (POS) system, ByteConnect. This expansion highlights Byte Federal's dedication to providing comprehensive fintech solutions for economic freedom.

Germany Point of Sale Terminal Market

Germany's POS terminal market is growing due to the preference of cashless transaction along with government support given to digital payments, and the growth in the retail and hospitality sectors. Stricter data security regulation introduced also by GDPR has led businesses to invest in secure and compliant POS systems. Mobile POS adoption among small businesses is on a rise, increasing flexibility around transactions, but traditional cash is still very prevalent, thereby slowing down a complete digital transformation. Germany's POS market will expand as the demand for contactless and mobile payments increases with the advancement of fintech innovation and regulatory measures. March 2023: SSP has selected Worldline's payment solution that integrates with Oracle MICROS Simphony POS in Germany. It accepts all leading payment brands and currencies, ideal for international tourists. It will be implemented across the DACH region, commencing with Germany by deploying the POS terminals.

China Point of Sale Terminal Market

China has been a trendsetter in terms of digital payments, with point-of-sale  terminals widely integrated within the country's fast-growing retail and e-commerce sectors. With mobile payment giants Alipay and WeChat Pay dominating the sector, POS technology innovation has rapidly accelerated. POS solutions powered by AI and facial recognition payment systems are increasingly coming into use in urban areas, but regulatory hurdles and cybersecurity threats remain risks for market growth. As China continues to promote cashless transactions, the POS terminal market will be strong and has support from smart retail development and advancement in fintech. March 2022 Newland Group, the world's leading high-tech solution provider with digital technology in its DNA, is deeply honored to be chosen to operate cashless payment solutions for the Beijing Winter Olympics and Paralympic Winter Games.

Brazil Point of Sale Terminal Market

Brazil’s POS terminal market is rapidly growing, driven by increased financial inclusion, digital payment adoption, and expanding e-commerce. The government’s push for open banking and fintech innovation has encouraged businesses to upgrade their POS systems. Mobile POS solutions are becoming popular among small retailers and service providers, offering cost-effective transaction processing. However, challenges such as economic instability, fraud risks, and high transaction fees impact market growth. With increasing smartphone penetration and digital wallet usage, Brazil’s POS market is poised for further expansion in the coming years. Dec 2024 – Fiserv, Inc. has launched Clover in Brazil, marking the first multi-acquirer ecosystem in the market. Clover offers a comprehensive suite of solutions to help businesses grow and manage operations.

Saudi Arabia Point of Sale Terminal Market

The growth of the POS terminal market in Saudi Arabia is attributed to the country's Vision 2030, which is aimed at increasing digital payment infrastructure and reducing dependency on cash. Contactless and mobile payments are increasingly being adopted in retail, hospitality, and healthcare. Electronic payment mandates for businesses from the government have accelerated the adoption of POS terminals. However, the main challenges include cybersecurity threats and high implementation costs. With the journey to digital transformation moving forward for Saudi Arabia, more secure and efficient POS solutions would be required; thus, further supporting market growth. Nov 2022. Geidea - A Saudi FinTech company recently launched its fully integrated point-of-sales solution with a mission of further elevating payment and business processes for the F&B industry in KSA.

Point of Sale Terminal Company News

June 2024- A new unattended payment solution from Newland NPT was revealed. Specifically designed for use in parking lots, kiosks, and EV charging stations, this solution includes the U2000 modular payment terminal. The X800 is a unique wireless point-of-sale system that enhances this. It is designed to promote smooth payments, increased operational effectiveness, and improved customer interaction for small and medium-sized businesses.

December 2023- Tech business Qashier partnered with well-known international online fashion and leisure shop SHEIN. The seamless fusion of technology and fashion was emphasized by this cooperation at the SHEIN Holiday Pop-up. For every guest, Qashier's state-of-the-art point-of-sale and payment systems significantly improved their shopping experience.

September 2023- The point-of-sale system supplier POSaBIT Systems Corporation introduced POSaBIT POS 2.0. Scalable, flexible, and easy to use, POSaBIT POS 2.0 is a solution that can change with the market.

Point of Sale Terminal Market Segments

Product– Market breakup in 2 viewpoints:

1. Fixed
2. Share

Component– Market breakup in 3 viewpoints:

1. Hardware
2. Software
3. Services

Deployment– Market breakup in 2 viewpoints:

1. On-Premises
2. Cloud

End Use– Market breakup in 7 viewpoints:

1. Restaurants
2. Retail
3. Healthcare
4. Warehouse
5. Hospitality
6. Entertainment
7. Others

Countries– Market breakup in 25 viewpoints:

North America

1. United States
2. Canada

Europe

1. France
2. Germany
3. Italy
4. Spain
5. United Kingdom
6. Belgium
7. Netherlands
8. Turkey

Asia Pacific

1. China
2. Japan
3. India
4. Australia
5. South Korea
6. Thailand
7. Malaysia
8. Indonesia
9. New Zealand

Latin America

1. Brazil
2. Mexico
3. Argentina

Middle East & Africa

1. South Africa
2. Saudi Arabia
3. UAE

All the key players have been covered from 4 Viewpoints:

• Business Overview
• Key Persons
• Recent Development & Strategies
• Financial Insights

Key Players Analysis:

1. Samsung Electronics Co. Ltd
2. Panasonic Corporation
3. NEC Corporation
4. PAX Technology
5. NCR Voyix
6. Fujitsu Limited
7. Agilysys Inc.
8. Oracle Corporation

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