Wireless POS Terminal Market Forecast 2031 | Growth & Trends

The wireless POS terminal market size is expected to grow at a CAGR of 28.2% from 2023 to 2031. The wireless POS terminal market includes growth prospects owing to the current wireless POS terminal market trends and their foreseeable impact during the forecast period. The wireless POS terminal market is growing due to factors such as the growing trend of a cashless economy and the growing adoption of wireless POS terminals. The extensive growth of online shopping platforms provides lucrative opportunities for the wireless POS terminal market growth.

Wireless POS Terminal Market Analysis

A wireless POS terminal is a portable cash register that businesses use to take payments from customers. Instead of being tied to a fixed location, it can be carried around, making it handy for restaurants, events, and shops. The main benefits of wireless POS terminals are flexibility and convenience. It lets businesses serve customers anywhere and process transactions quickly.

Wireless POS Terminal Market Industry Overview

• As businesses increasingly shift to mobile and contactless payments, the demand for wireless POS terminals is growing rapidly.
• Companies are constantly innovating to meet the needs of merchants, offering sleek designs, faster processing speeds, and enhanced security features.
• With the rise of e-commerce sector, there's a huge opportunity for wireless POS terminal growth, attracting both established players and new startups looking to capitalize on the trend.

Wireless POS Terminal Market Driver

Increasing Demand For Wireless POS Terminal To Drive The Wireless POS Terminal Market

• With more businesses adopting mobile and contactless payment solutions, the need for versatile and efficient payment processing systems grows. Industries ranging from retail and hospitality to transportation and healthcare are embracing wireless POS terminals to enhance customer experience and streamline operations.
• Moreover, the rise of online marketplaces and delivery services has further fuelled the demand for wireless POS terminals. Small businesses and independent sellers can easily accept payments on the go, whether at pop-up events or customers' doorsteps.
• As the trend toward cashless transactions continues to accelerate, the wireless POS terminal market is poised for sustained growth, driven by the need for convenience, efficiency, and flexibility in payment processing.

Wireless POS Terminal Market Report Segmentation Analysis

• Based on type, the wireless POS terminal market is segmented into hardware, software, and services. The hardware segment is expected to hold a substantial wireless POS terminal market share in 2023.

Wireless POS Terminal Market Share Analysis By Geography

The scope of the wireless POS terminal market is primarily divided into five regions - North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is experiencing rapid growth and is anticipated to hold a significant wireless POS terminal market share. Retailers, restaurants, and service providers in the US and Canada are increasingly adopting wireless POS terminals to enhance customer convenience and streamline transactions. Further, the North American market has highly developed infrastructure for digital payments, including widespread access to high-speed internet and advanced mobile technology. All such factors drive the wireless POS terminal market in North America.

Wireless POS Terminal Market Report Scope

The "Wireless POS Terminal Market Analysis" was carried out based on component, vertical and geography. On the basis of component, the market is segmented into hardware, software, and services. Based on vertical, the market is segmented into retail, hospitality, healthcare, and entertainment. Transportation, and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Wireless POS Terminal Market News and Recent Developments

Companies adopt inorganic and organic strategies such as mergers and acquisitions in the wireless POS terminal market. A few recent key market developments are listed below:

• In March 2024, NEXGO announced the launch of N6--the brand-new smart mini POS terminal. The N6 is a thin, light, slim, and portable smart POS terminal designed for mobile payment scenarios. N6 is based on Android 10.x, with ATEX and IP54 certified, runs on a quad-core processor, and can support all payment methods, including 2G, 3G, and 4G, as well as Wi-Fi and Bluetooth.

[Source: NEXGO, Press Release]

Wireless POS Terminal Market Report Coverage & Deliverables

The wireless POS terminal market forecast is estimated based on various secondary and primary research findings, such as key company publications, association data, and databases. The market report "Wireless POS Terminal Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering below areas-

• Market size & forecast at global, regional, and country levels for all the key market segments covered under the scope.
• Market dynamics such as drivers, restraints, and key opportunities.
• Key future trends.
• Detailed PEST & SWOT analysis
• Global and regional market analysis covering key market trends, key players, regulations, and recent market developments.
• Industry landscape and competition analysis covering market concentration, heat map analysis, key players, and recent developments.
• Detailed company profiles.

Wireless POS Terminal Report Scope