Market Size of Finland POS Terminals Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 12.80 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Finland POS Terminals Market Analysis
The Finland POS terminals market is expected to register a CAGR of 12.8% during the forecast period of 2022-2027. The primary factors driving the Finland POS terminals market's growth are high growth in contactless payments, advancements in technology enabling secure and convenient payments, and rising adoption of mPOS in various end-user industries, among others.
- The POS terminal market has significantly grown over the last few years, and the growth is largely attributed to its widespread adoption among various end-user industries in the country. Further, many POS systems offer accompanying features to aid business operations managed through that same payment terminal. These include inventory management, insights on sales trends and customer behaviors, employee scheduling and wages, marketing, and more. This has resulted in the installation of POS terminals in the country.
- Further, with a significant population in the country having internet and smartphone, the country's e-commerce market is rapidly growing. Additionally, many e-commerce companies have installed POS terminals that accept online payments, magstripe, and chip card payments.
- Moreover, various POS terminal companies such as Erply are offering e-commerce integration POS terminals, which is expected to boost the country's POS terminal market significantly. With this, Erply's customers in Finland will have the possibility to use Erply's existing webshop integrations: Shopify, WooCommerce, and Magento - all free of charge.
- Moreover, the adoption of POS solutions results in real-time information and inventory management tracking, thus boosting the adoption in various end-user industries. For instance, the Salkari jewelry store in Finland adopted the WInpos POS system, which resulted in smooth information flow between the POS system and the webshop. Moreover, it resulted in performing the stock inventory easily and conveniently.
- The COVID-19 pandemic created a demand for digital payments in the country, resulting in increasing the demand for POS terminals equipped with NFC and other technologies accepting payments from contactless chip cards or digital interface cards for e-commerce businesses and brick and mortar stores.
