Denmark POS Terminals Market Size

Denmark POS Terminals Market Analysis

The Denmark POS terminals market is expected to register a CAGR of 10.7% during the forecast period. The primary factors driving the Finland POS terminals market's growth are card payments, advancements in technology enabling secure and convenient payments, and the rising adoption of mobile POS solutions in various end-user industries. Further, Point-of-Sale (PoS) terminals are now increasingly sophisticated, feature-rich, easy to use, and available at a range of prices, thus driving the demand for POS terminals in the country.

• The Danish POS terminals market has witnessed significant growth over the past few years, owing to the increasing popularity of contactless payments, changing consumer behaviour, and booming e-commerce.
• Additionally, the adoption among small and mid-sized businesses across Denmark increased in the past few years due to various benefits offered by POS terminals to streamline their businesses by checking inventory levels and enhancing customer experience.
• Additionally, the growth in POS terminals in Denmark is further attributed to the increasing number of contactless card payments in the country. For instance, as reported by the Denmarks Nationalbank, contactless payments in Denmark increased significantly during the past few years. As of the first quarter of 2016, contactless payments composed 4% of all payments in Danish physical stores, while during the second quarter of the previous year, 72% of all payments were made contactless.
• Further, as reported by PostNord, debit or credit card was the leading shopping payment method in Denmark last year, used by more than half of 52% of online shopping users, followed by 22% with MobilePay, 13% with PayPal, and 4% with online banking.
• Moreover, the booming e-commerce in the country is offering opportunities for e-commerce businesses to adopt contactless POS terminals. For instance, Shopify Denmark offers Shopify's all-in-one POS system with inventory tracking and staff management. Additionally, as consumers in the country are extensively using debit or credit cards for online shopping payments, This has led to the increasing demand for POS terminals in e-commerce businesses.
• During the COVID-19 pandemic, contactless payments surged in the country due to lockdowns. More and more consumers started shopping online due to the closure of brick-and-mortar stores, which increased the adoption of POS terminals among businesses in the country. However, consumer spending has significantly reduced during this period, and the use of fixed POS terminals has been negatively affected during the COVID-19 outbreak.