Point-of-Sale Terminals Market size is expected to reach USD 181.47 billion by 2030

 Point-of-Sale Terminals Industry Overview

The global point-of-sale terminals market size was valued at USD 85.16 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 8.5% from 2022 to 2030.

In 2020, the COVID-19 pandemic negatively impacted the overall market growth due to supply chain disruption and end-user revenue loss. Nevertheless, as the severity of the virus subsided, several end-use industries were seen moving towards cashless and contactless payments. As a result, increased usage of contactless payments has encouraged the adoption of mobile POS (mPOS) terminals in order to accept contactless payments directly through customers’ smartphones. The growing prominence of mobile POS terminals has provided avenues for market growth. The ease of use and improved Return on Investment (ROI) offered by these systems has favorably impacted the market. Also, the rising need for employee and customer management, inventory tracking, and online & in-store sale unification through tablets has boosted product adoption.

The surge in demand for affordable wireless communication technologies has increased the demand for POS terminals. POS systems utilize wireless devices to facilitate payments for services or products. The use of wireless technology can streamline various processes, from rental cabs to restaurants. Companies in the hospitality and retail sectors use POS terminals for payments and additional operational tasks, such as inventory management, sales tracking, and accounting. For instance, bars, restaurants, and foodservice providers rely highly on POS technology to track sales, operations, products, and inventory.

Gather more insights about the market drivers, restrains and growth of the Global Point-of-Sale Terminals Market

The rise of the modern drive-thru is one of the prominent factors influencing the growth of POS terminals. Many companies have started adopting POS systems to connect their drive-thru line, kitchen, and back-office operations for a smooth order and delivery process. For instance, fast-casual brands, such as Chipotle, Panera, and Starbucks, have added drive-thru components to some of their drive-thru locations. Moreover, benefits offered by modern drive-thrus, such as increased convenience, have resulted in an improved customer experience. This, in turn, is expected to provide growth opportunities for the POS terminals market.

However, POS systems are challenging to secure, owing to their role and exposed location across the network. These systems handle critical information and are required to be managed from remote areas. Therefore, a substantial impact of POS breaches is the possibility of identity threats. These victims can encounter damaged credit standing, financial loss, and fraudulent purchases. Hence, compensating controls to manage the data flow is expected to improve

During the COVID-19 pandemic, the growth of this market slowed down due to social distancing and lockdown restrictions. As a result, many end-use verticals suffered losses, eventually hindering the demand for new fixed POS terminals in 2020. Nevertheless, as the severity of the pandemic has mellowed due to a dip in positive cases and vaccination drives, countries across the globe have eased out restrictions and have started operating as usual. Moreover, the COVID-19 pandemic has triggered a shift in consumer habits, resulting in a surge in demand for digital menu boards, artificial intelligence, and the expansion of drive-thrus into dual lanes for increased convenience. Owing to this, the hospitality, restaurant, and entertainment sectors are likely to witness substantial growth during the forecast period.

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Key Companies Profile

Some prominent players in the point-of-sale terminals market include:

  • Acrelec
  • AURES Group
  • Elo Touch Solutions
  • HM Electronics, Inc.
  • Hewlett-Packard Development Company, L.P.
  • NCR Corporation
  • Oracle Corporation
  • Presto
  • Qu Inc.
  • Quail Digital
  • Revel Systems
  • Toast, Inc.
  • Toshiba Corporation
  • TouchBistro Inc.
  • Xenial, Inc.

Order a free sample PDF of Point-of-Sale Terminals Market Intelligence Study, published by Grand View Research. 

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