Point of Sale (POS) Market – Industry Analysis, Trends, Size & Forecast 2023 |Market Research Report by Arizton

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Arizton Advisory and Intelligence

POS Market Size in Revenue

POS Market Segments

The global point of sale market is expected to cross $9.8 billion, growing significantly with a CAGR close to 12% during the period 2017−2023.

In terms of unit shipment, the NFC-ready terminals accounted for more than 33% of the market share in 2017 and is expected to continue to gain market share during the forecast period.”

— Rachael, Sr. Analyst

CHICAGO, IL, UNITED STATES, November 16, 2017 — Ingenico, Fujian Newland Payment Technology, PAX Global Technology, and Verifone Systems are the leading vendors in the global POS market. The market is expected to grow significantly at a CAGR close to 12% during the period 2017−2023. The market is majorly driven by increased digital payments, introduction of mobile payment solutions, penetration of EMV-compliant POS terminals, and high demand from the healthcare and retail segments. APAC is tipped to continue as the highest growing region during the period 2017-2023 with an expected CAGR of 11.41%, which is greater than the expected global CAGR of 10.62% in terms of shipment during the same period.

View report: Point of Sale (POS) Market – Global Outlook and Forecast 2018 – 2023

POS Market: Key Vendor Analysis

The competitive scenario in the global POS market is currently intensifying. Continual innovations and upgrades are the characteristics of this market. The rapidly changing technological environment is forcing vendors to alter and refine their unique value proposition to achieve a strong market presence. The market is moderately fragmented, but dominated by vendors with global presence. These major vendors continually compete among themselves for the leading position in the market, with occasional spurts of competition coming from local vendors. The adoption rate of these payment terminals among business owners worldwide has increased. As a result of this increased demand, the market has witnessed the entry of many new vendors. The competition among these are intense and has led to the introduction of many innovative and advanced solutions in the market.

The report profiles the leading vendors and provides a complete value chain analysis of the market. Strength, strategies, and opportunities of major companies are discussed in the report. It also enlists the major product offering of companies involved in the market.

This report also provides the details of the market size from the following segments:

Revenue
Volume

Major vendors included in the report are as followings:

Ingenico
Fujian Newland Payment Technology
PAX Global Technology
Verifone Systems

Other prominent vendors mentioned in the report are BBPOS, Bitel, Castles Technology, Centerm, Dspread Technology, Hangzhou Sunyard, Nexgo (Shenzhen Xinguodu Technology), New POS Technology, Spire Payments, and SZZT Electronics. First Data, CyberNew, Spectra Tech, Shenzhen Justtide, Aisino (Previous Vanstone), Yarus, Equinox Payments, and Bluebird are a few emerging vendors in the market.

POS Market Dynamics

Technology and government regulations to drive market growth

The global point of sale market witnessed a tremendous rise in the demand for mobile payment terminals in APAC and the US. The US also witnessed a huge surge in NFC-ready and EMV-compliant mPOS shipment which is driven by the launch of new product models and mandatory government regulations to switch to chip-based cards.

A strong demand for these products and increased end-users’ spending sentiments worldwide will be the major driving factors for the growth of the global market over the next five years.

POS Market: Segmental Analysis

mPOS segment to lead the global market

The mPOS terminals segment comprised of a significant percentage of the revenue of the global market in 2017 compared to 77.15% generated from the fixed devices segment. However, the moblile point of sale segment is expected to grow at a rapid rate in terms of unit shipment during the period 2017–2023, which is higher than the global unit shipment CAGR of 10.62% during the same period.

The EMV terminals will witness a more consistent and faster growth during the period 2018–2023, as compared to the Non-EMV terminals, as many governments such as the US have mandated the use of chip-based cards in their respective countries.

In terms of unit shipment, the NFC-ready terminals accounted for more than 33% of the market share in 2017 and is expected to continue to gain market share during the forecast period.

This market research report includes a detailed market segmentation of the market by the following segments:

Product Format Type

Fixed
Mobile (mPOS)

Compliance Type

EMV
Non EMV

NFC Technology Readiness Type

NFC-Ready
No NFC

End-user Type

Retail
Restaurant
Warehouse and distribution
Entertainment
Healthcare
Hospitality

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POS Market: Geographical Analysis

APAC tipped to lead the global market

APAC is witnessing rapid urbanization among all other geographies. According to the World Bank, the number of urban households in the region will rise by about 68% during the period 2010–2030. The urbanization of developing countries in APAC is expected to bolster retail sales and growth of industries such as hospitality, healthcare, and restaurant. APAC remains to be looked upon as a potential market for point of sale terminals during the forecast period and is expected to record substantial market growth.

Europe will also witness a rapid adoption of new point of sale systems in many regions due to recent regulatory norms and penetration of NFC-ready systems.

The growth for point of sale market in Latin America was fueled by the 2016 Summer Olympics in Brazil. However, political unrest in Venezuela, economic dwindling of Brazil’s economy, and natural disasters would affect the market growth in the region.

In North America, the US will drive the market growth during the forecast period. The necessity to switch to chip-based terminals will help the market to grow in the US and Canada.

In MEA, the concept of payment through cards has not gained popularity yet in many Middle Eastern and African countries. Thus, the market demand and penetration is low in countries in these regions. However, with many vendors expanding their operations in these countries for market share, the demand for these devices will grow during the forecast period.

Geography

APAC
EMEA
North America
Latin America

About Arizton Advisory & Intelligence

About Arizton
Arizton – Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

Arizton has gained a paramount standpoint in the market research arena as it offers top of the line solutions to clients to assess market landscape and to finalize foolproof business strategies. We are committed to provide inclusive market research reports and consulting services to clients from diversified industries including –Consumer Goods & Retail Technology, Automotive and Mobility, Smart Tech, Healthcare and Lifesciences, Industrial Machinery, Chemicals and Materials, IT and Media, Logistics and Packaging

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Maria Burns

Maria Burns

Maria is a Viral News Editor who graduated from the University Of California. She likes social media trends, being semi-healthy, Buffalo Wild Wings and vodka with lime. When she isn’t writing, Maria loves to travel. She last went to Thailand to play with elephants and is planning a trip to Bali.
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