Point of Sale (POS) Terminal Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 100.24 Billion |
| Market Size (2029) | USD 151.97 Billion |
| CAGR (2024 - 2029) | 8.68 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Point of Sale (POS) Terminal Market Analysis
The POS Terminal Market size is estimated at USD 100.24 billion in 2024, and is expected to reach USD 151.97 billion by 2029, growing at a CAGR of 8.68% during the forecast period (2024-2029).
The POS terminal market has witnessed significant growth over the past few years, owing to its ability to offer an increased return on investment (ROI) and ease of access. POS terminal systems that facilitate transactions from the central component of businesses across industries, like retail, hospitality, transportation, and banking, have gained importance in small and big-sized companies over the years.
- POS terminal systems have evolved from transaction-oriented terminals/devices to systems that integrate with the company's financial solutions and CRM. The evolution has empowered end-users with business intelligence (BI) to better manage their revenue streams and inventory. Accurate transactions, lower maintenance costs, and real-time inventory are critical advantages of point-of-sale systems. With the several functional benefits that the advanced point-of-sale systems offer, companies have replaced traditional billing software with POS systems, thus securing the growth of the point-of-sale (POS) systems market.
- Modern POS terminals reduce the cost of deployment, setup, power consumption, and maintenance over time, leading to the cost of ownership. Several vendors offer modular point-of-sale terminals with attributes such as low power consumption and touchscreen displays, which helps reduce ownership costs. Companies such as Aures Technologies, Sharp Electronics, and many others offer fixed point-of-sale solutions with robust processors that help improve operations and reduce failures and touchscreen displays. To minimize the several number of moving parts in the terminal, the point-of-sale solution offered by Aures comes with fanless temperature control.
- Further, the COVID-19 pandemic has significantly transformed how consumers shop, affecting several market verticals. The retail industry witnessed a drastic difference due to the COVID-19 pandemic. Several consumers globally have also increased the use of various sales methods, such as virtual consultations, contactless payment, curbside pickup, and social commerce, which includes shopping through several social media sites. Such trends have affected the demand for point-of-sale (POS) terminals globally.
- However, security remains a challenge for the point-of-sales market's growth due to the usage of critical information. POS terminals are connected to the network and the internet, making them vulnerable to attacks for access manipulation as is the case with any other insecure machine. The way the terminal communicates with the rest of the network means attackers could access unencrypted card data, including Track2 and PIN information that can be used to steal and clone payment cards.
Point of Sale (POS) Terminal Market Trends
Hardware Segment to Account for the Largest Market Share
- The scope of hardware components primarily constitutes an integrated POS system that features additional transactional capabilities and standalone POS terminals (transaction enablement units). While a lot of legacy hardware has typically been modular, the advent of All-In-One units has allowed for the deployment of fixed units and portable POS tablets in the market that feature built-in payment terminals, scanners, and printers.
- In some countries, credit and debit cards are only processed via payment terminals, owing to a belief that physical attributes offer reliability. This tradition has allowed counters to be overridden with terminals in stores typically. The demand is further supported by the fact that credit and debit card data is comparatively less vulnerable to hackers, unlike when payment cards are processed through a POS system where the security measures depend on end-users and developers.
- Due to several security threats, most new hardware manufactured for the market is designed to enable smoother transactions. However, the forced distancing due to the pandemic has spurred the development of contactless payments with dedicated authentication features. The addition of cameras and fingerprint sensors is pushing for larger form sizes. Still, it is also being countered by industry developments that allow manufacturers to go smaller in the hunt for microelectronics. For instance, VisionLabs announced the LUNA POS terminal, a terminal certified by Visa PayWave, and Mastercard Contactless designed to permit transactions from both traditional credit card transactions and contactless face biometrics. NFC, RFID, chip, and magnetic stripe card transactions are also supported as alternatives to facial authentication.
- The growth of supermarket retailers globally has fueled the demand for mPOS solutions. Visa transaction data further supported the observation, showing that several countries continue to maintain a healthy lead in average transaction size compared to both mature and emerging e-commerce markets.
- As online marketplaces took over the shopping experience during the pandemic, e-commerce also began to demand more interest. Shopify launched integrated retail hardware for Shopify Point of Sale (POS) and Shopify Payments for in-person transactions in New Zealand. The machine was dedicated to allowing retailers to process transactions and accept various payment methods with a fully mobile POS and respective hardware.
Asia Pacific to Witness Significant Growth
- Asia Pacific is a region at the forefront of technology adoption, which is also influencing the market growth for POS terminals. The prominence of cashless payments in different countries is also a factor that creates new opportunities for the market.
- The usage of credit and debit cards in point-of-sale payments is also a factor that is driving the need for POS terminals. Further, investments by vendors in the region through innovation, strategic partnerships, and mergers and acquisitions are driving market growth in the region. According to the Reserve Bank of India, there were more than 4.7 million PoS terminals recently in India. PoS terminals saw steady growth in business sectors like restaurants, grocery shops, and gas and fuel stations.
- Along similar lines, recently, MYPINPAD, a prominent player in PCI-certified payments software solutions, together with a payment solution provider, SPECTRA Technologies, and Hong Kong's leading payment terminal manufacturer, announced the launch of a software-based contactless payments solution for smart devices that enhances customer experience for small and micro-merchants in Hong Kong. Mastercard also partnered with both companies to launch the new SoePay solution to expand the Mastercard Tap on Phone acceptance network further.
- Moreover, the growth in e-commerce in the region also presents new opportunities for the POS terminals market. According to a recent study by Reprise and Google, a 'few times a month' online shoppers are now outpacing their offline counterparts by 42% vs. 31% and those who shop online 'once every few months' leapfrog offline shoppers by 66%. Also, according to the study, the region has leapfrogged as much as five times, already meeting projections for 2025. (n=13,000).
Point of Sale (POS) Terminal Industry Overview
The Point of Sale Terminal Market is significantly fragmented with the presence of a large number of players such as iMetrics Pte Ltd, Samsung Electronics Co. Ltd, Panasonic Corporation, Casio Computer Co. Ltd, NEC Corporation, PAX Technology, and many more. Moreover, these players are investing large amounts of money in R&D activities to introduce innovative payment technologies in the market. Strict government regulations and policies in several countries will drive the market, making it more attractive and competitive.
- June 2024 - Newland NPT unveiled its newest unattended payment solution. This offering features the U2000 modular payment terminal, specifically crafted for deployment in kiosks, car parks, and EV charging stations. Complementing this, the X800 stands out as a comprehensive wireless POS system. It's tailored to empower small and medium enterprises, facilitating seamless payments, operational efficiency, and enriched customer engagement.
- December 2023 - Qashier, a tech company, teamed up with SHEIN, a prominent global online fashion and lifestyle retailer. This collaboration was highlighted at the SHEIN Holiday Pop-up, underscoring the seamless integration of technology and fashion. Qashier's cutting-edge POS and payment solutions notably elevated the retail experience for all attendees.
Point of Sale (POS) Terminal Market Leaders
VeriFone System Inc.
Qashier PTE Ltd
Newland Payment Technology
GK Software SE
PAX Technology
*Disclaimer: Major Players sorted in no particular order
Point of Sale (POS) Terminal Market News
- June 2024 - Newland NPT announced a strategic partnership with GCK (Global Communication Planning Co., Ltd) to enhance payment acceptance, streamline store operations, and bolster business management for Japanese merchants and customers. As part of this collaboration, Newland NPT will roll out its cutting-edge SmartPOS series, showcased at RetailTech Japan 2024, featuring models such as the N950, N750, P300, and X800.
- April 2024 - Shopify's Point of Sale (POS) system has taken strides in consolidating customer data, orders, and payments, catering comprehensively to brick-and-mortar merchants' needs for both online and in-person sales. With the rising significance of unified commerce, retailers are turning to Shopify Partners for guidance in leveraging Shopify POS for their in-store sales.
Point of Sale (POS) Terminal Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 Impact of COVID-19 on the Point of Sale (POS) Terminal Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growing Adoption of POS Terminals in the Retail Sector
5.1.2 Rising Adoption of Cloud-based Platforms
5.2 Market Challenges
5.2.1 Data Security Concerns
5.2.2 Problems Due to Hardware
6. MARKET SEGMENTATION
6.1 By Component
6.1.1 Hardware
6.1.2 Software
6.1.3 Services
6.2 By Type
6.2.1 Fixed Point-of-Sale Terminals
6.2.2 Mobile/Portable Point-of-Sale Terminals
6.3 By End-user Industries
6.3.1 Entertainment
6.3.2 Hospitality
6.3.3 Healthcare
6.3.4 Retail
6.3.5 Other End-user Industries
6.4 By Geography***
6.4.1 North America
6.4.2 Europe
6.4.3 Asia
6.4.4 Australia and New Zealand
6.4.5 Latin America
6.4.6 Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles*
7.1.1 iMetrics Pte Ltd
7.1.2 Samsung Electronics Co. Ltd
7.1.3 Ingenico SA
7.1.4 VeriFone System Inc.
7.1.5 Micros Retail Systems Inc. (Oracle)
7.1.6 HP Development Company LP
7.1.7 Panasonic Corporation
7.1.8 Bindo Labs Inc.
7.1.9 NEC Corporation
7.1.10 PAX Technology
7.1.11 Casio Computer Co. Ltd
7.1.12 NCR Corporation
7.1.13 Newland Payment Technology
7.1.14 NEXGO (Shenzhen Xinguodu Technology Co. Ltd.)
7.1.15 Toshiba Global Commerce Solutions
7.1.16 Fujitsu Ltd
7.1.17 Qashier PTE Ltd
7.1.18 Diebold Nixdorf
7.1.19 NCR Corporation
7.1.20 Cow Hills Retail BV
7.1.21 Ctac NV
7.1.22 Agilysys Inc.
7.1.23 GK Software SE
7.1.24 Infor Inc.
7.1.25 Aptos Inc.
7.1.26 PCMS Group Ltd
7.1.27 Cegid Group
7.1.28 Toshiba Tec Corporation
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Point of Sale (POS) Terminal Industry Segmentation
The POS terminal system is the time and location where a transaction is completed. A point-of-sale system is computer hardware and software that manages the marketing while selling a product or a service. It helps to store, capture, share, and report data related to sales transactions. It eases the shopping experience and helps expedite the checkout process, resulting in customer satisfaction. Inventory management, stock in hand, availability of a product, and pricing information are primary data acquired from the systems.
The point-of-sale (POS) terminal market is segmented by component (hardware, software, service), type (fixed point-of-sale terminals, mobile/portable point-of-sale terminals), end-user industry (entertainment, hospitality, healthcare, retail), and geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Component | |
| Hardware | |
| Software | |
| Services |
| By Type | |
| Fixed Point-of-Sale Terminals | |
| Mobile/Portable Point-of-Sale Terminals |
| By End-user Industries | |
| Entertainment | |
| Hospitality | |
| Healthcare | |
| Retail | |
| Other End-user Industries |
| By Geography*** | |
| North America | |
| Europe | |
| Asia | |
| Australia and New Zealand | |
| Latin America | |
| Middle East and Africa |
Point of Sale (POS) Terminal Market Research FAQs
How big is the POS Terminal Market?
The POS Terminal Market size is expected to reach USD 100.24 billion in 2024 and grow at a CAGR of 8.68% to reach USD 151.97 billion by 2029.
What is the current POS Terminal Market size?
In 2024, the POS Terminal Market size is expected to reach USD 100.24 billion.
Who are the key players in POS Terminal Market?
VeriFone System Inc., Qashier PTE Ltd, Newland Payment Technology, GK Software SE and PAX Technology are the major companies operating in the POS Terminal Market.
Which is the fastest growing region in POS Terminal Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in POS Terminal Market?
In 2024, the Asia-Pacific accounts for the largest market share in POS Terminal Market.
What years does this POS Terminal Market cover, and what was the market size in 2023?
In 2023, the POS Terminal Market size was estimated at USD 91.54 billion. The report covers the POS Terminal Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the POS Terminal Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
What are the key drivers of the POS Terminal Market?
Key factors driving the POS Terminal Market are a) Increasing adoption of cashless transactions among consumers b) Need for efficient transactional processes in businesses c) Advancements in wireless communication technology
POS Terminals Industry Report
The global point of sale (POS) market is witnessing substantial growth, fueled by the adoption of advanced technologies and the demand for efficient transaction solutions across various sectors. Market analysis shows a strong focus on both hardware and software, with hardware traditionally leading due to its role in quick transactions. However, software is projected to grow faster due to its ability to enhance operational efficiency and provide real-time analytics. The rise of cloud-based and AI-integrated POS systems, especially in the retail and restaurant industries, is enhancing personalized customer experiences and dynamic pricing, thus boosting the POS market share. Mobile POS systems are increasingly popular for their flexibility and cost-effectiveness, suitable for businesses of all sizes. Regionally, the Asia Pacific dominates in POS system market share, driven by rapid business growth and digital transformations, while North America and Europe invest in advanced solutions to improve customer engagement and efficiency. For comprehensive statistics on POS terminals market share, size, and revenue growth, download a free report PDF from Mordor Intelligence™ Industry Reports, helping businesses stay competitive and increase their pos market share by company.
