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The international market for point-of-sale terminals was estimated at Usd 85.16 billion in 2021, and this is expected to rise at a yearly pace of 8.5 percent from 2022 to 2030. Because of the supply chain, interruption and end-user lost revenue; the COVID-19 pandemic will negatively influence total market development in 2020. Nonetheless, when the virus’s intensity faded, some end-use sectors began to adopt cashless and contactless payment methods.
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The development of the point of sale (PoS) terminal market is determined by the performance of the following market segments:
This division works with point-of-sale (POS) hardware, software, and services.
mPOS, smart POS, portable countertop plus PIN Pad, and a smart mobile dongle and compact POS are among the kinds of point-of-sale terminals available.
The home delivery and service delivery sector, retail, medical and hospitality, taxi and transportation, sports, entertainment, and media sectors all make up the industry component of the point-of-sale terminal industry.
The market is divided into four primary regions because of the international markets of the point of sale terminal market and the global distribution of target audiences. During the projected period of 2017-2023, the North American market is expected to have good growth potential, assisting the market in becoming the highest point of sale terminal market size. The point of sale terminal market is home to the payment industry’s rising modernization and a wide range of business-specific solutions.
Another factor that will help the marketplace gain traction in the international competition is that wireless PoS terminals have been widely used and implemented across various industries, including hospitality, medical, healthcare, retail, and entertainment. EMV is one of the compliance criteria that affect increased payment security and will contribute to the market’s growth during 2017-2023.
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