Dublin, Oct. 23, 2024 (GLOBE NEWSWIRE) -- The "Point of Sale Terminal Market & Forecast 2024-2032, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Point of Sale Terminal Market will reach US$ 193.41 billion by 2032, up from US$ 91.04 billion in 2023, with a CAGR of 8.73% between 2024 and 2032
The need for frictionless payment experiences, the growth of e-commerce, and increased retail automation are all driving the market's expansion. The efficiency and security of transactions are improved by technological advancements such as integrated software solutions and contactless payments. The use of contemporary point-of-sale (POS) systems across diverse industries is also propelled by the growth of small and medium-sized firms (SMEs) and the requirement for advanced data analytics. 
E-commerce Integration
A key driver of development in the Point of Sale (POS) terminal industry is e-commerce integration, which is fueled by consumers' growing desire for streamlined and cohesive retail experiences. It is imperative for businesses to integrate point-of-sale (POS) systems with e-commerce platforms in order to provide a seamless purchasing experience. Retailers can synchronize their online and offline sales channels with this interface, guaranteeing that pricing, inventory, and customer information are updated consistently throughout all touchpoints.
The rise in e-commerce has increased the need for point-of-sale (POS) systems that can effectively manage transactions across several channels. Through a single interface, POS terminals coupled with e-commerce platforms allow firms to maintain inventory, manage orders, and process payments from both physical storefronts and online markets. By offering a seamless and uniform purchasing experience to customers whether they are shopping in-store or online, this not only improves customer satisfaction but also streamlines processes.
Moreover, linked point-of-sale systems enable complex features like click-and-collect services, which let customers purchase items online and pick them up in-store. This adaptability raises sales volumes and satisfies the expectations of contemporary consumers. Further propelling the POS terminal market's expansion is merchants' ability to make well-informed judgments and tailor their marketing campaigns thanks to the capacity to collect and analyze data from various sources. Thus, a key factor driving innovation and market expansion is the combination of e-commerce and point-of-sale (POS) systems.
Data Analytics boosts the market growth
The Point of Sale (POS) terminal industry is experiencing significant expansion due to data analytics, which is transforming the way businesses handle and use transactional data. More and more sophisticated analytics features are built into modern point-of-sale (POS) systems, allowing businesses to collect and examine a multitude of data from sales transactions. Businesses may optimize operations and make well-informed decisions with the support of real-time insights.
Businesses may monitor inventory levels, examine sales patterns, and get an unprecedented level of accuracy in understanding client behavior by utilizing data analytics. Retailers might modify their tactics in response to the comprehensive reports that point-of-sale systems (POS) can produce on sales performance, product popularity, and peak transaction hours. Data-driven insights, for instance, can be used to target particular client categories more successfully with promotions, optimize stock levels, and find high-performing products.
Furthermore, by examining preferences and purchase trends, data analytics makes individualized consumer experiences possible. Retailers can use this data to create customized recommendations, loyalty programs, and incentives that will increase consumer happiness and encourage return business. Data analytics in POS systems helps with strategic planning and forecasting in addition to operational effectiveness. To promote growth and profitability, businesses can foresee market trends, modify their pricing policies, and make decisions supported by data. All things considered, adding data analytics to point-of-sale terminals gives businesses a big competitive edge and propels industry growth.
Asia Pacific Point of Sale Terminal Market
Growth in the POS terminal market is being influenced by the adoption of technology that Asia Pacific is leading the way in. Another element that opens up new market prospects is the widespread use of cashless payments in several nations. Another factor boosting the need for POS terminals is the use of credit and debit cards for point-of-sale payments. The region's market is expanding as a result of vendor investments made through mergers and acquisitions, strategic alliances, and innovation. In India, there were more than 4.7 million PoS terminals as of late, according to the Reserve Bank of India. Businesses including restaurants, supermarkets, and petrol and fuel stations have seen a steady increase in the use of PoS terminals.
Analogously, MYPINPAD, a well-known provider of PCI-certified payment software solutions, in collaboration with SPECTRA Technologies, a payment solution provider, and the top manufacturer of payment terminals in Hong Kong, recently announced the introduction of a software-based contactless payments solution for smart devices that improves customer satisfaction for small and micro-merchants in Hong Kong.
Additionally, Mastercard collaborated with both businesses to introduce the new SoePay solution, which will help to further expand the Mastercard Tap on Phone acceptance network. Furthermore, the market for POS terminals is presented with new potential by the expansion of e-commerce in the area. As to a recent survey conducted by Reprise and Google, online consumers who purchase 'few times a month' are now surpassing their offline counterparts by 42% compared to 31%, while those who shop online 'once every few months' are ahead of offline shoppers by 66%. The study also claims that the region has already met forecasts for 2025, having leapfrogged by as much as five times.
Point of Sale Terminal Company Analysis
The key players in point of sale terminal industry are Samsung Electronics Co. Ltd, Panasonic Corporation, NEC Corporation, PAX Technology, NCR Voyix, Fujitsu Limited, Agilysys Inc. and Oracle Corporation.
Point of Sale Terminal Company News
- June 2024 - A new unattended payment solution from Newland NPT was revealed. Specifically designed for use in parking lots, kiosks, and EV charging stations, this solution includes the U2000 modular payment terminal. The X800 is a unique wireless point-of-sale system that enhances this. It is designed to promote smooth payments, increased operational effectiveness, and improved customer interaction for small and medium-sized businesses.
- December 2023 - Tech business Qashier partnered with well-known international online fashion and leisure shop SHEIN. The seamless fusion of technology and fashion was emphasized by this cooperation at the SHEIN Holiday Pop-up. For every guest, Qashier's state-of-the-art point-of-sale and payment systems significantly improved their shopping experience.
- September 2023 - The point-of-sale system supplier POSaBIT Systems Corporation introduced POSaBIT POS 2.0. Scalable, flexible, and easy to use, POSaBIT POS 2.0 is a solution that can change with the market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $91.04 Billion |
| Forecasted Market Value (USD) by 2032 | $193.41 Billion |
| Compound Annual Growth Rate | 8.7% |
| Regions Covered | Global |
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global Point of Sale Terminal Market
6. Market Share Analysis
6.1 By Product
6.2 By Component
6.3 By Deployment
6.4 By End Use
6.5 By Countries
7. Product
7.1 Fixed
7.2 Mobile
8. Component
8.1 Hardware
8.2 Software
8.3 Services
9. Deployment
9.1 On-Premises
9.2 Cloud
10. End Use
10.1 Restaurants
10.2 Retail
10.3 Healthcare
10.4 Warehouse
10.5 Hospitality
10.6 Entertainment
10.7 Others
11. Countries
11.1 North America
11.1.1 United States
11.1.2 Canada
11.2 Europe
11.2.1 France
11.2.2 Germany
11.2.3 Italy
11.2.4 Spain
11.2.5 United Kingdom
11.2.6 Belgium
11.2.7 Netherland
11.2.8 Turkey
11.3 Asia Pacific
11.3.1 China
11.3.2 Japan
11.3.3 India
11.3.4 Australia
11.3.5 South Korea
11.3.6 Thailand
11.3.7 Malaysia
11.3.8 Indonesia
11.3.9 New Zealand
11.4 Latin America
11.4.1 Brazil
11.4.2 Mexico
11.4.3 Argentina
11.5 Middle East & Africa
11.5.1 South Africa
11.5.2 Saudi Arabia
11.5.3 UAE
12. Porter's Five Forces Analysis
12.1 Bargaining Power of Buyers
12.2 Bargaining Power of Suppliers
12.3 Degree of Rivalry
12.4 Threat of New Entrants
12.5 Threat of Substitutes
13. SWOT Analysis
13.1.1 Strength
13.1.2 Weakness
13.1.3 Opportunity
13.1.4 Threat
14. Key Players Analysis
14.1 Overview
14.2 Key Persons
14.3 Recent Development & Strategies
14.4 Revenue Analysis
- Samsung Electronics Co. Ltd
- Panasonic Corporation
- NEC Corporation
- PAX Technology
- NCR Voyix
- Fujitsu Limited
- Agilysys Inc.
- Oracle Corporation
For more information about this report visit https://www.researchandmarkets.com/r/b0noge
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