Semiconductor and Electronics

POS Terminal Market

Global Industry Analysis and Forecast 2024-2031

Pages : 120

Base Year : 2023

Released Year : April 2024

Format :Pdf Ppt Xls

Report ID:KR624

Author : Priyanka V.

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Base Year


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Forecast Year


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Historical Years


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Market Value (2023)

USD 93.17 Billion

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Forecasted Value (2031)

USD 184.45 Billion

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CAGR (2024 - 2031)


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Fastest Growing Region (2024 - 2031)

Middle East & Africa

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Largest Region

Asia Pacific

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By Component Type

Hardware, Software, Service

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By Type

Fixed Point of Sale, Mobile/Portable Point of Sales

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By End Use

Entertainment, Retail, Hospitality, Healthcare

Market Perspective

The global POS Terminal Market was valued at USD 93.17 billion in 2023 and is projected to reach USD 184.45 billion by 2031, growing at a CAGR of 8.9% from 2024 to 2031.

The POS terminal market is experiencing significant growth due to the increasing adoption of digital payment methods and the growing demand for efficient and secure payment solutions. With the rise of e-commerce and the shift toward cashless transactions, businesses are increasingly investing in POS terminals to streamline their payment processes and enhance the overall customer experience. Additionally, advancements in technology, such as contactless payment options and mobile POS systems, are driving the expansion of the POS terminal market. Businesses are looking for more convenient and flexible payment solutions to meet the evolving needs of consumers. As a result, POS terminal providers are continuously innovating to offer more features and capabilities to cater to the demands of modern businesses. This includes integrating with other software and systems, offering real-time analytics and reporting, and improving security measures to protect customer data. The POS terminal market is expected to continue to grow as businesses strive to stay competitive in an increasingly digital and fast-paced marketplace.

Analyst’s Review 

The POS terminal market is witnessing substantial growth, driven by the rising demand for contactless payment options and the increasing prominence of e-commerce. A notable trend in the industry is the growing adoption of mobile POS systems, enabling businesses to accept payments at any time and from any location. This shift toward mobile solutions is primarily driven by the need for convenient and flexible payment processing. Another significant trend is the integration of advanced technologies such as NFC and EMV chips that are designed to enhance security and streamline transactions. Additionally, there is a surge in demand for cloud-based POS solutions as businesses seek to reduce costs and improve scalability. The POS terminal market is evolving rapidly to meet the dynamic needs of both businesses and consumers.

Market Definition

A point of sale (POS) terminal is a hardware and software system used by businesses to process customer transactions. These terminals are commonly found in retail stores, restaurants, and other establishments where transactions occur. POS terminals typically consist of a cash register, barcode scanner, receipt printer, and credit card reader, enabling businesses to accept various forms of payment. Moreover, POS terminals offer additional functionalities such as inventory tracking, sales reporting, and customer management.

POS terminal systems play a pivotal role in streamlining the sales process, enhancing business efficiency, and delivering a seamless shopping experience for customers. The ability to accept multiple payment methods, monitor inventory in real-time, and generate comprehensive sales reports empowers businesses to make informed decisions and optimize their performance. Furthermore, the capability to manage customer information facilitates personalized interactions and fosters customer loyalty. POS terminals are indispensable tools for businesses seeking to elevate their operations and drive sustainable growth.

Market Dynamics

The growth of the POS terminal market is primarily fueled by the rising consumer inclination toward cashless payment methods. The increasing popularity of mobile wallets, contactless cards, and online payment platforms has driven the shift toward convenient and secure digital transactions. Due to this, there is a growing demand for POS terminals capable of accepting various payment options, including credit and debit cards, mobile payments, and e-wallets. In order to meet these evolving preferences and provide a seamless payment experience, businesses across diverse sectors are investing heavily in advanced POS systems. These systems streamline the checkout process and generate valuable data insights, enabling businesses to gain a deeper understanding of their customers' purchasing behavior.

By implementing innovative payment solutions, businesses are enhancing operational efficiency, boosting sales, and improving customer satisfaction. As technology continues to progress, the POS terminal market is expected to witness growth in the foreseeable future

However, the significant upfront and maintenance expenses linked to POS terminals have emerged as a key hindrance to market development. These costs encompass the procurement of hardware and software components, along with the ongoing maintenance and necessary upgrades. Particularly for small businesses operating with constrained resources, these financial burdens present significant obstacles and impede the adoption of POS technology. Nonetheless, as technology continues to advance and become more affordable, the barriers to entry for small businesses are gradually decreasing. There are a variety of cost-effective POS solutions available on the market, ranging from basic systems to more advanced options with customizable features, which is fostering its adoption globally.

Segmentation Analysis

The global POS terminal market is segmented based on component type, type, end use, and geography.

Based on component type, the market is bifurcated into hardware, software, and service. The hardware segment acquired the largest market share of 44.81% in 2023. Hardware components, including processors, memory, and display screens, play a vital role in ensuring the seamless operation of POS terminals. These components directly influence the speed and efficiency of transactions, making them indispensable for businesses aiming to offer fast and reliable service to their customers. Furthermore, continuous advancements in hardware technology have resulted in the creation of more advanced POS terminals equipped with enhanced features and capabilities. This has increased the appeal of such terminals among businesses seeking to invest in technology capable of optimizing their operations and enhancing the overall customer experience.

Based on type, the market is bifurcated into a fixed point of sale, and mobile/portable point of sales. The mobile/portable point of sales segment dominated the POS terminal market with a significant revenue share of 55.30% in 2023, due to its convenience and flexibility. These devices allow businesses to process transactions on the go, whether at a trade exhibition, temporary retail installation, or external event. This mobility enables merchants to reach customers in various locations and provide a seamless purchasing experience. Additionally, the compact size and wireless capabilities of these devices make them easy to set up and use, eliminating the need for bulky and stationary POS terminals. This adaptability is especially beneficial for small businesses and startups looking to streamline their operations and increase sales.

Based on end use, the market is bifurcated into fixed entertainment, retail, hospitality, and healthcare. The healthcare segment accounted for the largest market share of 40.10% in 2023 driven by the increasing demand for efficient and secure payment solutions in medical facilities. With the notable shift towards digitalization in healthcare, providers are looking for POS terminals capable of seamless integration with electronic health records and payment systems. Additionally, the need for contactless payment options in hospitals and clinics has contributed to the widespread adoption of POS terminals in the healthcare sector. These terminals streamline the payment process for patients and enhance the overall efficiency of healthcare operations, thereby supporting the growth of the segment.

Geographical Analysis

Based on region, the global POS terminal market is classified into North America, Europe, Asia Pacific, MEA, and Latin America.

POS Terminal Market Size & Share, By Region, 2024-2031

Asia-Pacific dominated the market with the largest share of 31.51% in 2023. This growth is mainly attributable to the rapid adoption of advanced technology in countries such as China, Japan, and South Korea. These nations have increasingly adopted digital payment methods, showcasing a large population of tech-savvy consumers who prefer the convenience offered by POS terminals. Moreover, the growth of e-commerce platforms in the region has fueled the demand for POS terminals, as businesses strive to provide seamless payment options for online shoppers. Additionally, the increasing number of small and medium-sized enterprises in the Asia-Pacific region has played a major role in driving the growth of the POS terminal market. These businesses are seeking cost-effective solutions to streamline their operations and enhance the overall customer experience, thereby contributing to the increased demand for POS terminals in the region.

Middle East & Africa is projected to register the highest CAGR over the forecast period, primarily due to the increasing adoption of digital payment methods. As e-commerce and mobile payment solutions gain significant traction, businesses in these regions are recognizing the necessity to upgrade their POS systems to accommodate these novel technologies. This has led to an increased demand for POS terminals equipped with advanced features and capabilities. Furthermore, the growing tourism industry in countries such as the UAE and South Africa has contributed to the surging demand for POS terminals, thereby boosting regional market growth.

Competitive Landscape

The global POS terminal market report will provide valuable insight with an emphasis on the fragmented nature of the industry. Prominent players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their market shares across different regions. Strategic initiatives, including investments in R&D activities, the establishment of new manufacturing facilities, and supply chain optimization, could create new opportunities for market growth.

The major players in the POS Terminal Market are:

Key Developments

  • June 2022(Partnership): Qashier partnered with GastroBeats to offer point of sale (POS) services for food & music festivals. This step has enabled contactless ordering and payments across the entire event, ensuring a safe and streamlined experience for all attendees.

 The global POS Terminal Market is segmented as:

By Component Type

  • Hardware
  • Software
  • Service

By Type

  • Fixed Point of Sale
  • Mobile/Portable Point of Sales

By End Use

  • Entertainment
  • Retail
  • Hospitality
  • Healthcare

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • U.K.
    • Spain
    • Germany
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • North Africa
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
  • Check Icon Additional Company Profiles
  • Check Icon Additional Countries
  • Check Icon Cross Segment Analysis
  • Check Icon Regional Market Dynamics
  • Check Icon Country-Level Trend Analysis
  • Check Icon Competitive Landscape Customization
  • Check Icon Extended Forecast Years
  • Check Icon Historical Data Up to 5 Years
Frequently Asked Questions (FAQ's)
The global POS terminal market is projected to reach USD 184.45 billion by 2031, growing at a CAGR of 8.9% from 2024 to 2031.
The global POS terminal market was valued at USD 93.17 billion in 2023.
The major driving factor for the market growing technological innovations and adoption of digital payments.
Top manufacturers of POS Terminal market are Acumera, Inc., Acrelec, AURES Group, HM Electronics, Hewlett Packard Development LP, NCR Corporation, Oracle Corporation, Payabl, POSaBIT Systems Corporation, and Presto Group, among others.
Asia-Pacific projected to register highest CAGR of 9.9% over the forecasted period (2024-2031).
By component type, hardware segment held the maximum share of 43.94% in the POS terminal market in the forecast period.
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