POS Terminals Market Demand: Insights from Latest Research Report for Market Analysis | Verifone, Ingenico Group, PAX Global Technology, NCR Corporation, Toshiba Corporation, Panasonic Corporation

The Global POS Terminals Market size was valued at USD 91.20 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 9.35% from 2023 to 2030.

 POS Terminals Market Overview:

The increasing popularity of cashless transactions is driving the demand for POS terminals across the globe. POS terminals are electronic devices that allow merchants to process payments from customers using debit or credit cards, mobile payment apps, or other digital payment methods. The growing adoption of mobile payment solutions, such as mobile wallets and contactless payment options, is also boosting the demand for POS terminals.

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Moreover, the rise of e-commerce and the increasing trend of omnichannel retailing have further propelled the demand for POS terminals. POS terminals enable merchants to integrate their physical and online stores, offering customers a seamless shopping experience. They also help merchants manage inventory, track sales, and analyze customer behavior, enabling them to make data-driven decisions and improve business operations.

What is New Additions in 2023?

  1. Integration of advanced technologies such as near field communication (NFC) and Bluetooth for faster and more secure payment processing.
  2. Introduction of mobile POS terminals that enable small and medium-sized businesses to accept payments on the go.
  3. Expansion of the use of POS terminals beyond traditional retail and hospitality sectors to other industries such as healthcare, transportation, and government.
  4. Increasing adoption of cloud-based POS systems that offer greater flexibility, scalability, and cost-effectiveness.

 Key players of POS Terminals Market:

  • Verifone
  • Ingenico Group
  • PAX Global Technology
  • Toshiba Corporation
  • NCR Corporation
  • Panasonic Corporation
  • Samsung Electronics
  • Fujian Newland Payment Technology
  • SZZT Electronics
  • BBPOS Limited.

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 Covid 19 impact:

The COVID-19 pandemic has had a significant impact on the POS terminals market. The outbreak of the pandemic has led to a surge in contactless payments, as consumers prefer to avoid cash transactions to minimize the risk of infection. As a result, the demand for POS terminals with contactless payment options has increased significantly. Additionally, the pandemic has accelerated the trend of e-commerce and online shopping, leading to an increase in demand for POS terminals that can handle online transactions. However, the pandemic has also led to supply chain disruptions, leading to a shortage of components and delaying the manufacturing and delivery of POS terminals.

Key insights:

  1. Growing preference for cashless transactions and the increasing adoption of EMV cards are driving the market for POS terminals.
  2. The rise in demand for mobile POS terminals is fueling market growth, as they offer convenience, mobility, and flexibility to businesses.
  3. The integration of advanced technologies such as AI, IoT, and cloud computing is expected to enhance the functionality and security of POS terminals.
  4. The Asia-Pacific region is expected to witness significant growth in the POS terminals market due to the increasing adoption of electronic payment methods and the growing retail sector in the region.
  5. The COVID-19 pandemic has further accelerated the adoption of contactless payment methods, which is expected to drive the market growth for POS terminals.

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Growth drivers:

  1. Increasing adoption of digital payment solutions
  2. Advancements in technology
  3. Growth in the retail industry
  4. Increasing demand for mobile POS terminals
  5. Government initiatives promoting digital payments


  1. Increasing adoption of contactless payment systems: The COVID-19 pandemic has accelerated the trend towards contactless payment methods, and this has resulted in a greater demand for POS terminals that support contactless payments.
  2. Growing demand for mobile POS terminals: Mobile POS terminals are becoming increasingly popular, particularly among small and medium-sized businesses. These terminals are portable and easy to use, and they can be used to accept payments from anywhere.
  3. Expansion of e-commerce: The growth of e-commerce has led to an increase in demand for POS terminals that can process online payments.
  4. Integration with other systems: POS terminals are increasingly being integrated with other systems, such as inventory management and customer relationship management systems.


  1. Security concerns: With the increasing number of digital transactions, security concerns around payment information have become a major challenge for the POS terminals market.
  2. Competition from mobile payments: Mobile payment options like digital wallets and contactless payments have become increasingly popular, posing a challenge for traditional POS terminals.
  3. High costs: The cost of acquiring and maintaining POS terminals can be high, especially for small and medium-sized businesses.
  4. Lack of interoperability: With different payment systems and technologies in use, lack of interoperability between different POS terminals can pose a challenge for merchants and customers.
  5. Regulatory challenges: The POS terminals market is subject to various regulations and compliance requirements, which can create challenges for vendors and merchants alike.

Market segmentation:

The POS terminals market can be segmented based on type, component, deployment, and end-use.

↠ Type: POS terminals can be classified into fixed and mobile POS terminals.

  • Fixed POS terminals are installed at fixed locations and are commonly used in retail stores and restaurants.
  • Mobile POS terminals are portable and can be used anywhere with a wireless network connection. They are commonly used in industries such as hospitality, healthcare, and transportation.

    ↠Component: POS terminals are composed of hardware and software components.

  • Hardware components include display screens, keyboards, card readers, scanners, printers, and others.
  • Software components include operating systems, application software, and others.

    Deployment: POS terminals can be deployed on-premise or on cloud.

  • On-premise deployment involves installation and maintenance of POS terminals on-site.
  • Cloud-based deployment involves hosting the POS software on cloud servers and accessing it through the internet.

    ↠End-use: POS terminals are used in various industries such as retail, healthcare, hospitality, entertainment, and others.

  • Retail: POS terminals are widely used in retail stores for inventory management, sales tracking, and payment processing.
  • Healthcare: POS terminals are used in healthcare facilities for patient billing and insurance claims.

Regional Insights:

  1. North America is expected to dominate the market in terms of revenue, owing to the high adoption of advanced payment technologies and the presence of major players in the region.
  2. Asia Pacific is expected to witness the highest growth during the forecast period, due to the increasing adoption of digital payments and the growing number of small and medium enterprises (SMEs) in the region.
  3. Europe is also expected to contribute significantly to the market growth, owing to the favorable government regulations for the adoption of electronic payment solutions.
  4. Latin America and the Middle East and Africa are also expected to witness steady growth during the forecast period, driven by the increasing adoption of mobile payments and the growing number of retail outlets in the region.

Recent development:

  1. In May 2021, Ingenico, a leading provider of POS terminals, announced the launch of its new wireless terminal, the Link/2500, in the United States. The device is designed to provide secure, easy-to-use, and reliable payment processing for small and medium-sized businesses.
  2. In February 2021, Verifone, another major player in the POS terminals market, announced a new partnership with Alipay, the world’s leading third-party payment platform. The partnership will allow Chinese tourists visiting the United States to use their Alipay accounts to make purchases at Verifone-equipped merchants.
  3. In January 2021, PAX Technology, a leading provider of POS terminals, announced that it had signed a deal with Mastercard to develop new contactless payment solutions for merchants in Asia-Pacific. The deal will help PAX Technology expand its presence in the region and offer more advanced payment options to its customers.
  4. In November 2020, Square, a popular provider of POS terminals and payment processing services, announced the launch of a new service called Square Loans. The service offers small business owners access to flexible loans of up to $100,000 to help them manage cash flow and invest in their businesses.
  5. In October 2020, PayPal announced that it had acquired POS terminal provider iZettle for $2.2 billion. The acquisition will help PayPal expand its presence in the European market and offer more comprehensive payment solutions to its customers.

TOC for POS Terminals Market:

  • Executive Summary
  • Methodology and Scope
  • Industry Outlook
  • POS Terminals Market Overview
  • POS Terminals Market Segmentation
  • POS Terminals Market Segmentation
  • POS Terminals Market Segmentation
  • POS Terminals Market Segmentation
  • Competitive Landscape
  • Appendix

Frequently asked questions (FAQ)

  1. What is the current market size of the POS terminals market?
    ↠Ans. The current market size of the POS terminals market is estimated to be around USD 65.35 billion in 2023.
  1. What factors are driving the growth of the POS terminals market?
    ↠Ans. The growth of the POS terminals market is being driven by factors such as the increasing adoption of contactless payments, rising demand for inventory management and billing solutions, and growing preference for cashless transactions.
  1. Who are the key players operating in the POS terminals market?
    ↠Ans. Some of the key players operating in the POS terminals market are Verifone, Ingenico Group, PAX Global Technology, NCR Corporation, Toshiba Corporation, Panasonic Corporation, Samsung Electronics, Hewlett-Packard Development Company, and Cisco Systems.
  1. Which region leading in the POS terminals market?
    ↠Ans. North America is leading the POS terminals market, followed by Europe and Asia Pacific.


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