$ 122.8 Billion Point of Sale Terminal Market Size, Globally, by 2026 at 8.2% CAGR: Verified Market Research®
Due to the growing demand for cost-effective technologies to manage inventory and payments in large end-user industries including healthcare, retail, hospitality and warehouse and distribution, demand for the point of sale terminal market is increasing.
Jersey City, New Jersey, November 25, 2021 (GLOBE NEWSWIRE) – Verified Market Research recently published a report, “Point of Sale Terminal Market”By product type (fixed point-of-sale terminals, wireless, mobile point-of-sale), by component (hardware, software), by application (restaurant, hospitality, healthcare, retail, entertainment) and by geography . According to Verified Market Research, the global POS terminal market size was valued at $ 65.57 billion in 2018 and is expected to reach $ 122.8 billion by 2026, growing at a CAGR of 8.2% from 2019 to 2026.
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Browse the table of contents in depth to “Point of Sale Terminal Market“
202 – Pages
126 – Tables
37 – Figures
Global Point of Sale Terminal Market Overview
Growing demand for contactless and cashless payments, the unification of in-store and online sales, employee and customer management, and the need to track inventory have driven the adoption of point-of-sale (POS) terminals. ) integrated. Additionally, the retail, healthcare, hospitality and other industries have experienced digital transformation due to technological advancements that have forced users to adopt point-of-sale terminals. Digital transformation and point-of-sale demand are also being supported by the growing use of smartphones as a portable point-of-sale system.
The growing trend of contactless payments and the growing penetration of near field communication (NFC) devices in various verticals will drive demand for the point of sale terminal market. Several countries are turning to cashless transactions to implement fast, easy and secure payment methods. The emergence of cashless transactions is expected to have a positive impact on the growth of the industry. Additionally, market players are launching products that support NFC payments. The technology will help retail and hospitality customers implement simple, safe and secure payment methods in their operations.
In addition, increased investment in R&D and development of advanced payment solutions by manufacturers will propel the market demand for point-of-sale terminals. Payment companies develop innovative solutions for specific industrial purposes to increase profitability. The devices will enable retailers to efficiently manage their store inventory and business operations, resulting in increased market growth.
In January 2020, Ingenico recently integrated with Apple Pay Support for loyalty programs to boost consumer engagement with merchants.
In January 2020, Toshiba Corporation announced a strategic partnership with Weis Markets to provide cashless payment systems with the aim of improving the consumer experience.
In January 2020, point-of-sale terminal giant Ingenico was acquired by Worldline to enter the global market.
In January 2020, HP Inc. introduced new cloud services for its product line, Engage POS. The launch aimed to help retailers and hotel operators reduce manual IT work.
The main players in the market are Cisco Systems Inc., Toshiba Corporation, VeriFone System Inc. (Francisco Partners), Samsung Electronics Inc., MICROS Systems Inc. (Oracle), Hewlett Packard Enterprise, Ingenico SA, NEC Corporation, Panasonic Corporation, Technology PAX.
Verified market research segmented the global point-of-sale terminal market on the basis of product type, component, application, and geography.
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