Market Size of Europe POS Terminal Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 20.94 Million |
| Market Size (2029) | USD 38.23 Million |
| CAGR (2024 - 2029) | 12.80 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe POS Terminal Market Analysis
The Europe POS Terminal Market size is estimated at USD 20.94 million in 2024, and is expected to reach USD 38.23 million by 2029, growing at a CAGR of 12.80% during the forecast period (2024-2029).
A significant rise in the demand for contactless and mobile POS terminals, along with a low total cost of ownership compared to other channels of payments, will drive market growth.
- Over the years, the European POS terminal market has evolved significantly due to the shifts in technology offered, which allowed the business to raise the ROI and improve the ease of access. POS terminals in Europe are deployed to help businesses across industries to facilitate the increasing number of transactions.
- In the current market scenario, POS terminal systems have evolved from transaction-oriented devices to systems that support and integrate into businesses' CRM and other financial solutions. This instance allowed companies to leverage captured transactional data through POS terminals to business intelligence.
- Moreover, the efforts by the European Commission to simplify the payment acceptance facilities of merchants are also triggering the market's growth. By next year, as part of the retail payments strategy, the European Commission has an action plan to support the modernization and simplification of EU merchants' payment acceptance facilities. This support could be achieved by guidance and by raising awareness amongst retailers.
- Introducing regional and country-level security regulations also creates a need for new or retrofits of POS terminals. For instance, the PSD2 rule has created several requirements that reinforce in-store in-person payments.
- However, due to less awareness of the benefits of using contactless payments, consumers do not have proper knowledge regarding transactions through mobile devices, which results in difficulty in using mobile wallets or other related apps to send or receive money. This can hamper the market growth across the region.
- The COVID-19 pandemic also created a demand for contactless payments, increasing the need for POS terminals equipped with NFC, RFID, and other technologies accepting payments from contactless chip cards or digital interface cards.
