POS Terminal Market 2026 By Size, Share, Trends, Growth, Forecast | TechSci Research

Global POS terminal market is forecast to exhibit a CAGR of more than 9% during the forecast period of 2021-2026, growing from $ 15 billion in 2019, owing to increasing use of Europay, Mastercard and Visa (EMV) cards. Point of sale (POS) terminals are used for handling payments and checkouts. Modern POS terminals integrate multiple systems into a single terminal to manage operations such as printing, card payments, billing and cash collection. Moreover, need for user-friendly, secure and convenient payment options is bolstering the growth of global POS terminal market. Large number of debit and credit card transactions is pushing the demand for POS terminals among retailers and other end-users. Additionally, reduction in the cost of POS systems and government initiatives to promote cashless transactions in various countries are expected to fuel global POS terminal market in coming years.

Global POS terminal market can be segmented based on product type, deployment, EMV compliance and end use industry. Based on product type, the market can be segmented into fixed, portable and mPOS. Fixed POS held the major share in 2019, however, its market share is expected to decline during forecast period due to increasing demand for portable and mPOS terminals. POS terminals cater to various industries such as retail, travel & hospitality, media & entertainment, manufacturing, healthcare, education and others. Retail sector captured majority of the share in 2019 and the trend is likely to continue in the coming years, as POS systems allow easy and fast billing.

Asia Pacific dominated the market in 2019 and is expected to witness significant growth during the forecast period, on account of growing disposable income and increasing number of government initiatives to promote digital economy in various countries in the region.

Major players operating in global POS terminal market include Ingenico Group S.A., Verifone Systems Inc., Fujian Newland Payment Technology Co., LTD Centerm Information Co., LTD, PAX Technology etc. Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. In 2019, Verifone launched Verifone Carbon 8, which is an affordable and portable POS solution. Additionally, the company has collaborated with Sage to offer integrated POS and business accounting solution on Verifone Carbon 8.
read more..