The payment machine mounting systems market size is projected to reach US$ 541.51 million by 2031 from US$ 317.28 million in 2023. The market is expected to register a CAGR of 6.9% in 2023–2031. The integration of IoT technology in the payment machine mounting systems is likely to remain a key payment machine mounting systems market trend.
The payment machine mounting systems market is growing at a rapid pace due to the expanding retail industry across the globe and the rising demand for cashless payment methods among consumers. The market is expanding steadily, driven by the growing focus on enhanced consumer experience and aesthetics. Moreover, the growing partnership agreements for the development of customized products are providing lucrative opportunities for market growth.
Payment machine mounting systems are used to securely mount and hold payment variety of machines, such as point of sale (POS) terminals, card readers, and cash registers. These systems are designed to provide convenience and stability to businesses. Growing adoption of payment machine mounting systems by end users such as retail stores, restaurants and pubs, hotels, hospitals, and others is driving the market.
Walmart, Amazon, The Home Depot, Kroger, Target, Ahold Delhaize, Fred Meyer, Edeka, SPAR International, and Reliance Retail are the biggest retail companies in the world. These companies are continuously expanding their retail chain to attract more customers by generating significant profits. For instance, according to the NACS report of January 2024, more than 152,000 convenience stores operate in the US, which shows an increase of 1.5% from 2023. These stores highly adopted payment machine mounting systems to ease payment processing in their outlets. Furthermore, the expanding retail industry and growing number of retail stores worldwide are driving the market during the forecast period.
Growing demand for payment machine mounting systems among companies to provide their customers with enhanced experience is creating opportunities in the market. The demand for payment machine mounting systems encourages manufacturers and customers to develop innovative products for consumer satisfaction. For instance, in October 2021, VeriFone, Inc. partnered with TECHPOLE SOLUTIONS SL to develop a payment terminal stand suitable for Verifone's VX820. This mount is typically positioned on a pole that can be of varying heights. The mount can swivel 330 degrees and tilt 180 degrees, which makes the point of sale more efficient and professional for users. Moreover, the rising demand for customized products among companies is creating opportunities for payment machine mounting systems market participants during the forecast period.
Key segments that contributed to the derivation of the payment machine mounting systems market analysis are type and end user.
The geographic scope of the payment machine mounting systems market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
In terms of revenue, Asia Pacific accounted for the largest payment machine mounting systems market share. The market in this region is segmented into Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific. Asia Pacific is projected to expand at a significant CAGR in the near future due to growing digitalization and customers' preference for card-based payment methods. Moreover, the growth of the retail industry in countries, such as China, India, Japan, and South Korea is fueling the market in the region. For instance, according to the India Brand Equity Foundation, the Indian retail sector is anticipated to reach US$ 2 trillion in value by 2032. The retail industry is increasingly emphasizing reducing total operational costs by removing manual operations in stores associated with payment processing is driving the market during the forecast period.
The regional trends and factors influencing the Payment Machine Mounting Systems Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Payment Machine Mounting Systems Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 317.28 Million |
| Market Size by 2031 | US$ 541.51 Million |
| Global CAGR (2023 - 2031) | 6.9% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Payment Machine Mounting Systems Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Payment Machine Mounting Systems Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The payment machine mounting systems market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for payment machine mounting systems and strategies:
The “Payment Machine Mounting Systems Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The global payment machine mounting systems market was estimated to be US$ 317.28 million in 2023 and is expected to grow at a CAGR of 6.9% during the forecast period 2023 - 2031.
The expanding retail industry across the globe and rising demand for cashless payment methods among consumers are the major factors that propel the global payment machine mounting systems market.
The integration of IoT technology in the payment machine mounting systems is anticipated to play a significant role in the global payment machine mounting systems market in the coming years.
The key players holding majority shares in the global payment machine mounting systems market are HPC System, Apollo Electronics Co., Ltd., LUMI LEGEND CORP, Atdec Pty Ltd, and TECHPOLE SOLUTIONS SL.
The global payment machine mounting systems market is expected to reach US$ 541.51 million by 2031.
The incremental growth expected to be recorded for the global payment machine mounting systems market during the forecast period is US$ 224.22 million.