Market Size of US POS Terminals Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 26.73 Billion |
| Market Size (2029) | USD 40.97 Billion |
| CAGR (2024 - 2029) | 8.92 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US POS Terminals Market Analysis
The US POS Terminals Market size is estimated at USD 26.73 billion in 2024, and is expected to reach USD 40.97 billion by 2029, growing at a CAGR of 8.92% during the forecast period (2024-2029).
POS terminal systems have changed from transaction-oriented terminals and devices to systems that interact with the company's CRM and other financial solutions. With the assistance of this innovation, end users can better manage their revenue streams and inventory.
• The rise in consumer spending directly impacted the demand for POS terminals as an easy payment option. The growth in e-commerce and the entangling of brick-and-mortar and online retail practices are also expected to affect the future development of POS terminals. With the payment-on-delivery option provided by significant e-commerce platforms in the region, a sudden rise in the adoption of portable POS terminals has been noted.
• Implementing the latest technology in POS systems is expected to drive the market studied. For example, cloud computing providers deliver web-based financial services for POS systems, where data is appropriately maintained on remote vendor servers. The solution currently controls most of the cloud POS market share and is anticipated to do so in the long run. Increased end-user support for the deployment of cloud technology across all the essential areas is expected to be a significant growth factor for the POS market.
• The rapid growth of POS terminals is attributed to several factors, but one of the most important is that they free businesses from the burden of cash. As the world moves toward a cashless society, businesses that embrace POS systems find themselves ahead, offering their customers the fast, convenient, and safe checkout experience they expect. In line with the ongoing technological wave, POS terminals in the United States have been quickly evolving. The availability and introduction of technologically advanced terminals for all business types are significantly being adopted.
• Due to the growing popularity of digital payment methods and the expansion of e-commerce, the point-of-sale (POS) terminal market in the United States has seen tremendous growth in recent years. However, along with this expansion have come several security concerns related to cyber-attacks and data breaches. These issues have grown into significant barriers for the market, endangering not only consumer confidence but also the market's general stability.
• After the outbreak of COVID-19, contactless payments remained popular. According to a Mastercard survey, about 79% of consumers use contactless payments. Many US businesses are investing in modernized POS terminal systems to accept this payment method. For instance, companies that previously prioritized conventional card swipes are switching to NFC-enabled terminals to allow contactless payments.
