POS Terminals Market size is set to grow by USD 46.07 billion from 2023-2027

The global POS terminals market  size is estimated to grow by USD 46.07 bn from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of about 8.23%  during the forecast period.  The global POS terminals market is driven by the increasing need for advanced payment solutions in retail, healthcare, hospitality, and warehouse industries.

Consumers' preference for credit and debit card transactions fuels adoption. Small retailers in developing countries, like China and India, are adopting secure and convenient POS terminals. Mobile POS terminals, using wireless devices, are popular among SMEs. Demands include e-wallet facilities, mobile payments, and data safety. Key sectors include retail, healthcare, and hospitality. Strategic partnerships with vendors, payment service providers, and governments promote digital payments and cashless transactions.

This pos terminals market report extensively covers market segmentation by End-user (Entertainment, Hospitality, Healthcare, Retail, Others) Component (Hardware, Software, Services) Geography (APAC, North America, Europe, South America, Middle East and Africa)

The Point-of-Sale (POS) terminal market encompasses advanced hardware components of POS systems, including monitors, card readers, cash drawers, and receipt printers. Peripherals may include barcode scanners, customer displays, and kitchen printers. Newer hardware offers contactless payment options and integration with inventory management and CRM systems. Consumers benefit from various payment modes, such as cards, e-wallets, and mobile payments. Governments promote digital payments and cashless transactions, driving demand for POS terminals in retail outlets, healthcare sector, and more. Cloud-based and integrated POS terminals ensure data safety and prevent fraudulent transactions. Strategic partnerships between vendors, payment service providers, and small-scale companies, startups, and industries like retail, hospitality, and healthcare, fuel market growth. Wireless communication technologies enable mobile POS terminals and drive-thru applications.

The Point-of-Sale (POS) terminal market in APAC is experiencing significant growth due to the increasing adoption in various sectors such as hospitals, pharmacies, resorts, restaurants, hotels, gas stations, and retail stores. The penetration of organized retail, including supermarkets and hypermarkets, is driving this trend. Wireless communication technologies, including contactless payment methods, are becoming increasingly popular in China, Australia, India, and Indonesia, further fueling the market. Major vendors like PAX Global Technology, VeriFone Inc., BBPOS International Ltd., and Castles Technology Co. Ltd. provide POS terminal solutions. Collaborations and partnerships, such as the launch of Android-based smart payment terminals by Revenue Group Berhad and Public Bank Berhad, continue to improve cashless payment methods. POS terminals come with hardware components like cash registers, barcode scanners, and computers, and offer software integration, cloud deployment, and on-premises deployment. Consumers can use various payment modes, including cards, e-wallet facilities, and mobile payments. Governments are promoting digital payments and cashless transactions, making retail outlets increasingly reliant on integrated POS terminals for inventory management, Business Intelligence, and customer satisfaction. Despite the benefits, concerns around data breaches and identity threats persist, with some solutions turning to Artificial Intelligence (AI) and digital menu boards for enhanced security.