Retail Point-of-Sale Terminals Market Growth, Size, Share, Trends, Key Players Analysis, and Forecast till 2031

The retail point-of-sale terminals market is expected to register a CAGR of 13.4% during 2023–2031. Increasing interest in non-cash transactions is likely to remain a key trend in the market.

Retail Point-of-Sale Terminals Market Analysis

• Growth in the retail point-of-sale terminals market is fueled by increasing demand for effective transaction systems, movement toward the possibilities of omnichannel retail, and preference for wireless transactions. The POS terminal market is growing significantly owing it can provide a larger ROI and accessibility; the POS terminal system is most important for any business in all industries worldwide, including retail, hospitality, transportation, and banking.
• Key drivers that are propelling this market comprise the increasing integration of advanced and cost-effective technologies to manage inventories and payments of large end-user industries, such as health care, retail, hospitality, warehouse, distribution, and others, towards consignors and consignees, as well as the growing need for user-friendly, secure, and convenient payments in diverse application segments.

Retail Point-of-Sale Terminals Market Overview

• Point-of-sale terminals are core hardware systems at any retail outlet used for processing card payments. The evolution of these terminals has been huge—from manually operated machines to mobile ones with bar codes and scanners, and now moving towards cloud-based POS systems. A basic countertop terminal, commonly known as a cash wrap, features a screen, normally in the form of a tablet, together with a card reader, a barcode scanner, a cash drawer, and a receipt printer. This is applied to stationary transactions.
• However, mobile POS terminals, otherwise referred to as mPOS, operate with either smartphones or tablets. Through their efficiency in a given number of ways, they can capture customer data with every sale while updating orders and stock levels. POS technology also includes apps that allow businesses to take payments with connected devices such as smartphones, and these systems play a crucial role in businesses across various industries, such as retail, hospitality, transportation, and banking.

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Retail Point-of-Sale Terminals Market Drivers and Opportunities

Diverse End-User Requirements

• The evolution of point-of-sale systems has been phenomenal, from simple applications to process monetary transactions to multi-dimensional systems servicing a variety of industry needs such as retail, hospitality, restaurants, healthcare, and others. This vastly opens up potential in the market by covering a very wide range of business requirements, thus boosting the demand for versatile POS solutions. For instance, today, POS systems are applied in goods and property leasing businesses, equipment repair shops, health management, ticketing offices, and several other operations where the capabilities of processing monetary transactions, allocation and scheduling of facilities, record-keeping, and scheduling services rendered to customers, tracking of goods and processes, invoicing, and tracking of debts and outstanding are needed.
• The capabilities of POS systems in hospitality have also increased and now include creating item buttons, different discounts, the addition of a service charge, queuing, table service, takeaways, merging, and splitting of orders. Such development has served not only the changing needs of the business world but also created an increased demand for high-end POS solutions that can answer a myriad of industry-specific needs.

Rising Demand for Wireless Transactions

• The market for retail point-of-sale (POS) terminals is experiencing substantial growth due to the rising preference for wireless transactions, which includes the adoption of mobile and tablet-based POS terminal solutions. This shift in consumer and business payment preferences towards wireless capabilities is driving the market expansion.
• As a result, there is a significant opportunity for POS terminal manufacturers to innovate and create sophisticated wireless solutions that align with the evolving payment preferences of consumers and businesses. This trend highlights the need for advanced wireless POS systems that offer seamless, secure, and convenient transaction processes, ultimately paving the way for enhanced customer experiences and operational efficiency.

Retail Point-of-Sale Terminals Market Segmentation

Key segments that contributed to the derivation of the retail point-of-sale terminals market analysis are product type, component, and end user.

• Based on product type, the market is segmented into fixed pos terminals and mobile pos terminals.
• In terms of components, the market is segmented into hardware, software, and services.
• In terms of end users, the market is segmented into supermarkets, grocery stores, specialty stores, convenience stores, and others.

Retail Point-of-Sale Terminals Market Share Analysis by Geography

• The retail point-of-sale terminals market report comprises a detailed analysis of five major geographic regions, which includes current and historical market size and forecasts for 2021 to 2031, covering North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South & Central America.
• Each region is further sub-segmented into respective countries. This report provides analysis and forecasts of 18+ countries, covering mechanical keyboards market dynamics such as drivers, trends, and opportunities that are impacting the markets at the regional level.
• Also, the report covers PEST analysis, which involves the study of major factors that influence the retail point-of-sale terminals market in these regions.

Retail Point-of-Sale Terminals Market Regional Insights

The regional trends and factors influencing the Retail Point-of-Sale Terminals Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Retail Point-of-Sale Terminals Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Retail Point-of-Sale Terminals Market Report Scope

Retail Point-of-Sale Terminals Market Players Density: Understanding Its Impact on Business Dynamics

The Retail Point-of-Sale Terminals 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 Retail Point-of-Sale Terminals Market are:

1. Panasonic Corporation
2. Ingenico S.A.
3. MICROS Systems Inc.
4. VeriFone Systems Inc.
5. NEC Corporation
6. Hewlett-Packard Development Company LP

Disclaimer: The companies listed above are not ranked in any particular order.

Retail Point-of-Sale Terminals Market News and Recent Developments

The retail point-of-sale terminals market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the retail point-of-sale terminals market are listed below:

• Posiflex Technology Inc., a global leader in Point of Sale (POS) systems and Online to Offline (O2O) solutions, is pleased to announce its latest flagship POS terminal series – Mozart BT. The Mozart BT Series introduces beautiful modular monitor systems that integrate high-performance computing power, the latest operating system, and user-friendly ergonomic designs. With a high degree of modularity in construction and sleek elegance in appearance, the series conceals all cables and connectors, perfectly integrating the printer, providing a sense of space economy and aesthetics that enhances Posiflex's brand identity. The small and clean footprint of the Mozart BT Series allows seamless integration into various commercial spaces such as fashion boutiques, hospitality, convenience stores, food and beverage establishments, or multifunctional storefronts. Designed for versatility, it is an ideal solution for businesses requiring an additional display on the counter board for advertising playback, offering an elegant, beautiful, and useful POS terminal solution.

(Source: Posiflex Technology Inc., Company Website, July 2024)

Retail Point-of-Sale Terminals Market Report Coverage and Deliverables

The "Retail Point-of-Sale Terminals Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:

• Retail point-of-sale terminals market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Retail point-of-sale terminals market trends, as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST/Porter's Five Forces and SWOT analysis
• Retail point-of-sale terminals market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments in the retail point-of-sale terminals market
• Detailed company profiles