DUBLIN--(BUSINESS WIRE )--The "Point-of-Sale Terminals Market Size, Share & Trends Analysis Report by Product (Fixed, Mobile), by Component (Hardware, Software), by Deployment (Cloud, On-premise), by End Use (Healthcare, Retail), and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global point-of-sale terminals market size is expected to reach USD 181.47 billion by 2030, registering a CAGR of 8.5% from 2022 to 2030
Growing demand for mobile POS terminals from several end-use industries, rising preference for affordable wireless technologies, and rise of modern drive-thru are expected to be some of the major factors driving the point-of-sale (POS) terminal market during the forecast period. Moreover, change in customer payment preferences and buying behavior also bode well with the market growth.
The POS system has become a vital and multifaceted tool for many businesses due to its several valuable features across different end-use industries such as retail, hospitality, restaurant, healthcare, and other industries.
Companies in the hospitality and retail sectors use POS terminals for payments and additional operational applications, such as inventory management, sales tracking, and accounting, among others. For instance, bars, restaurants, and foodservice providers depend highly on POS technology to track products, sales, inventory, and operations. These factors are driving the POS terminal market across several end-use industries.
Mobile applications have created a new medium for revenue growth as it helps reduce the payment turnaround time, eliminate queues, increase security, free floor space, and provide paper-free receipting services. Due to the low deployment costs, the flexibility of having a tablet-based POS or smartphone POS has encouraged SMBs to invest in mobile POS (mPOS) terminals. As a result, the demand for mPOS and contactless payment terminals is expected to soar high in the coming years.
The pandemic negatively impacted the tourism sector worldwide. Along with discontinuity in tourist activities in 2020, sectors such as hospitality, restaurants, and entertainment, a huge market for POS vendors, also suffered considerable losses.
In the first quarter of 2020, due to the shutting down of manufacturing facilities worldwide, several players in the market recorded a substantial revenue drop in the H1 and H2 of the same year. Nevertheless, the market regained its foothold across industries in late 2020 and early 2021.
In the wake of the pandemic, the declining trend of cash payments provided avenues for contactless payments, thereby augmenting market growth.
Point-of-Sale Terminal Market Report Highlights
Chapter 3. Market Variables, Trends & Scope
3.1 Point-Of-Sale Terminal Market Penetration & Growth Prospect Mapping (Key Opportunity Prioritized)
3.3 Point-Of-Sale Terminal Market- Market Dynamics
3.3.1.1 Increasing Demand For Mobile Pos Terminals
3.3.1.2 Surge In Demand For Affordable Wireless Communication Technologies
3.3.1.3 Increased Demand From The End-Use Industries
3.4.1 Industry Analysis - Porter's Five Forces
Chapter 4. Product Estimates and Trend Analysis
4.1 Market Size Estimates & Forecasts and Trend Analysis, by Product 2018-2030 (USD Million)
4.2 Product Analysis & Market Share, 2021-2030 (USD Million)
Chapter 5. Component Estimates and Trend Analysis
5.1 Market Size Estimates & Forecasts and Trend Analysis, by Component2018-2030 (USD Million)
5.2 Component Analysis & Market Share, 2021-2030 (USD Million)
Chapter 6. Deployment Estimates and Trend Analysis
6.1 Market Size Estimates & Forecasts and Trend Analysis, by Deployment2018-2030 (USD Million)
6.2 Deployment Analysis & Market Share, 2021-2030 (USD Million)
Chapter 7. End Use Estimates and Trend Analysis
7.1 Market Size Estimates & Forecasts and Trend Analysis, by End Use2018-2030 (USD Million)
7.2 End Use Analysis & Market Share, 2021-2030 (USD Million)
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900