Retail Point-of-Sale Terminals Market SWOT Analysis by 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: Strategic Insights
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Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Retail Point-of-Sale Terminals Market: Strategic Insights
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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 Report Scope
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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The report can be delivered in PDF/PPT format; we can also share an Excel dataset based on the request.
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
Increasing interest in non-cash transactions is likely to remain a key trend in the market.
The leading players operating in the market are Panasonic Corporation, Ingenico S.A., MICROS Systems Inc., VeriFone Systems Inc., NEC Corporation, Hewlett-Packard Development Company LP, PAX Technology Limited, Toshiba Corporation, Samsung Electronics Co. Ltd, and Cisco Systems Inc.
The global retail point-of-sale terminals market is expected to grow at a CAGR of 13.4% during the forecast period 2023 - 2031.
Diverse end-user requirements are the major factor driving the market growth.
1 Introduction
1.1 Scope of Study
1.2 The Insight Partners Research Report Guidance
2 Key Takeaways
3 Retail (Point of Sale) POS Terminals Market Landscape
3.1 Market Overview
3.2 Market Segmentation
3.2.1 Retail (Point of Sale) POS Terminals Market - By Product Type
3.2.2 Retail (Point of Sale) POS Terminals Market - By Component
3.2.3 Retail (Point of Sale) POS Terminals Market - By Region
3.2.3.1 By Countries
3.3 PEST Analysis
3.3.1 North America - PEST Analysis
3.3.2 Europe - PEST Analysis
3.3.3 Asia Pacific - PEST Analysis
3.3.4 Middle East and Africa - PEST Analysis
3.3.5 South America - PEST Analysis
4 Retail (Point of Sale) POS Terminals Market - Key Industry Dynamics
4.1 Key Market Drivers
4.2 Key Market Restraints
4.3 Key Market Opportunities
4.4 Future Trends
4.5 Impact Analysis
5 Retail (Point of Sale) POS Terminals Market Analysis- Global
5.1 Global Retail (Point of Sale) POS Terminals Market Overview
5.2 Global Retail (Point of Sale) POS Terminals Market Forecasts and Analysis
6 Retail (Point of Sale) POS Terminals Market Revenue and Forecasts to 2028 - Product Type
6.1 Overview
6.2 Product Type Market Forecasts and Analysis
6.3 Fixed POS Terminal Market
6.3.1 Overview
6.3.2 Fixed POS Terminal Market Forecasts and Analysis
6.4 Mobile POS Terminal Market
6.4.1 Overview
6.4.2 Mobile POS Terminal Market Forecasts and Analysis
7 Retail (Point of Sale) POS Terminals Market Revenue and Forecasts to 2028 - Component
7.1 Overview
7.2 Component Market Forecasts and Analysis
7.3 Hardware
7.3.1 Overview
7.3.2 Hardware Market Forecasts and Analysis
7.4 Software
7.4.1 Overview
7.4.2 Software Market Forecasts and Analysis
8 Retail (Point of Sale) POS Terminals Market Revenue and Forecasts to 2028 - Geographical Analysis
8.1 North America
8.1.1 North America Retail (Point of Sale) POS Terminals Market Overview
8.1.2 North America Retail (Point of Sale) POS Terminals Market Forecasts and Analysis
8.1.2.1 North America Market Forecasts and Analysis - By Countries
8.1.2.1.1 US market
8.1.2.1.2 Canada market
8.1.2.1.3 Mexico market
8.1.2.2 North America Market Forecasts and Analysis - By Product Type
8.1.2.3 North America Market Forecasts and Analysis - By Component
8.2 Europe
8.2.1 Europe Retail (Point of Sale) POS Terminals Market Overview
8.2.2 Europe Retail (Point of Sale) POS Terminals Market Forecasts and Analysis
8.2.2.1 Europe Market Forecasts and Analysis - By Countries
8.2.2.1.1 France market
8.2.2.1.2 Germany market
8.2.2.1.3 Italy market
8.2.2.1.4 Spain market
8.2.2.1.5 UK market
8.2.2.2 Europe Market Forecasts and Analysis - By Product Type
8.2.2.3 Europe Market Forecasts and Analysis - By Component
8.3 Asia pacific (APAC)
8.3.1 Asia Pacific Retail (Point of Sale) POS Terminals Market Overview
8.3.2 Asia Pacific Retail (Point of Sale) POS Terminals Market Forecasts and Analysis
8.3.2.1 Asia Pacific Market Forecasts and Analysis - By Countries
8.3.2.1.1 Australia market
8.3.2.1.2 China market
8.3.2.1.3 India market
8.3.2.1.4 Japan market
8.3.2.2 Asia Pacific Market Forecasts and Analysis - By Product Type
8.3.2.3 Asia Pacific Market Forecasts and Analysis - By Component
8.4 Middle East and Africa (MEA)
8.4.1 Middle East and Africa Retail (Point of Sale) POS Terminals Market Overview
8.4.2 Middle East and Africa Retail (Point of Sale) POS Terminals Market Forecasts and Analysis
8.4.2.1 Middle East and Africa Market Forecasts and Analysis - By Countries
8.4.2.1.1 South Africa market
8.4.2.1.2 Saudi Arabia market
8.4.2.1.3 UAE market
8.4.2.2 Middle East and Africa Market Forecasts and Analysis - By Product Type
8.4.2.3 Middle East and Africa Market Forecasts and Analysis - By Component
8.5 South America (SAM)
8.5.1 South America Retail (Point of Sale) POS Terminals Market Overview
8.5.2 South America Retail (Point of Sale) POS Terminals Market Forecasts and Analysis
8.5.2.1 South America Market Forecasts and Analysis - By Countries
8.5.2.1.1 Brazil market
8.5.2.2 South America Market Forecasts and Analysis - By Product Type
8.5.2.3 South America Market Forecasts and Analysis - By Component
9 Industry Landscape
9.1 Mergers & acquisitions
9.2 Market Initiatives
9.3 New developments
9.4 Investment scenarios
10 Competitive Landscape
10.1 Competitive Product mapping
10.2 Market Positioning/ Market Share
11 Retail (Point of Sale) POS Terminals Market, Key Company Profiles
11.1 Panasonic Corporation
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Financial Overview
11.1.4 SWOT Analysis
11.1.5 Key Developments
11.2 Ingenico S.A.
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Financial Overview
11.2.4 SWOT Analysis
11.2.5 Key Developments
11.3 MICROS Systems Inc.
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Financial Overview
11.3.4 SWOT Analysis
11.3.5 Key Developments
11.4 VeriFone Systems Inc.
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Financial Overview
11.4.4 SWOT Analysis
11.4.5 Key Developments
11.5 NEC Corporation
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Financial Overview
11.5.4 SWOT Analysis
11.5.5 Key Developments
11.6 Hewlett-Packard Development Company LP
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Financial Overview
11.6.4 SWOT Analysis
11.6.5 Key Developments
11.7 PAX Technology Limited
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Financial Overview
11.7.4 SWOT Analysis
11.7.5 Key Developments
11.8 Toshiba Corporation
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Financial Overview
11.8.4 SWOT Analysis
11.8.5 Key Developments
11.9 Samsung Electronics Co. Ltd
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Financial Overview
11.9.4 SWOT Analysis
11.9.5 Key Developments
11.10 Cisco Systems Inc.
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Financial Overview
11.10.4 SWOT Analysis
11.10.5 Key Developments
12 Appendix
12.1 About The Insight Partners
12.2 Glossary of Terms
12.3 Research Methodology
The List of Companies
1. Panasonic Corporation
2. Ingenico S.A.
3. MICROS Systems Inc.
4. VeriFone Systems Inc.
5. NEC Corporation
6. Hewlett-Packard Development Company LP
7. PAX Technology Limited
8. Toshiba Corporation
9. Samsung Electronics Co. Ltd
10. Cisco Systems Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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