+91-8668442535

Retail POS Terminals Market By Product (Fixed POS Terminals, Wireless Or Mobile POS Terminals), By Component (Hardware, Software), By Application (Supermarkets, Hypermarkets, Specialty Stores, Grocery Stores And Mass Merchandisers) - Growth, Share, Opportunities & Competitive Analysis, 2016 - 2023

Growing preference for wireless or mobile POS terminals is identified as the major factor driving the retail POS terminals market. Mobile POS terminals, being portable, are extremely easy to use and allow retailers to streamline their in-store processes. In addition, the changing payment landscape across the globe, resulting in increased payments through debit and credit cards (cashless), is another factor fueling market momentum. These factors are expected to contribute to a compounded annual growth rate (CAGR) of 12.8% during the forecast period of 2016–2023.

Report Scope

This report analyses the global retail POS terminal market regarding product components, applications, and geography. Based on product type, the market is segmented into fixed POS terminals, mobile POS terminals, and wireless POS terminals. Similarly, based on application, the market for retail POS terminals is further classified into superstores, hyper stores, specialty stores, grocery stores, mass merchandisers, and gas stations, among others. The geographical distribution of the global retail POS terminal market considered in this study encompasses regional markets such as North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.

1.1 Report Summary

Purpose of the Report

The purpose of this strategic research study titled "Global Retail POS Terminals Market: Growth, Share, Opportunities, and Competitive Analysis, 2016–2023" is to offer industry investors, company executives, and industry participants in-depth insights to enable them to make informed strategic decisions related to the opportunities in the global retail POS terminals market.

Target Audience

  • Industry Investors
  • POS Terminal Hardware Providers and Vendors
  • POS Terminal Software Providers
  • SMBs and micro-merchants
  • Other End-users

Overall, the research study provides a holistic view of the global retail POS terminal market, offering market size and estimates for the period from 2014 to 2023, keeping in mind the abovementioned factors.

Based on product type, the global retail POS (point of sale) terminals market is categorized into the following segments:

  • Fixed POS (Point of Sale) Terminals
  • Mobile or Wireless POS (Point of Sale) Terminals

The contribution of these variants to the global retail POS (Point of Sale) terminals market in 2015 is as shown below:

As of 2014, the global retail POS terminal market was dominated by fixed POS terminals. The fixed POS terminals segment accounted for over three-fourths of the global retail POS terminals market revenue in the same year. The trend shall prolong, and the segment is presumed to hold on to its leading position throughout the forecast period of 2016–2023. Although fixed POS terminals are expected to dominate POS terminal sales in retail applications, mobile POS terminals are forecast to witness escalating adoption during the forecast period of 2016–2023. Factors including low initial purchase cost, better return on investment, and flexibility offered are expected to propel the demand for mobile POS terminals across retail stores.

With the advancements in technology, POS terminals have witnessed significant acceptance across multiple retail store segments, including supermarkets, hypermarkets, grocery shops, mass merchandisers, specialty stores, and gas stations, among others. Thus, based on application (store types).

The global retail POS terminal market is categorized into the following segments:

  • Supermarkets
  • Hypermarkets
  • Grocery Shops and Mass Merchandisers
  • Specialty Stores
  • Gas Stations
  • Others (drug stores, etc.)

The contribution of these application segments to the global retail POS terminal market in 2015 and 2023 is shown in the figure below.

Based on component, the global retail POS (Point of Sale) terminals market is segmented into the following categories:

  • POS Terminal Hardware
  • POS Terminal Software

Their contribution to the global retail POS (Point of Sale) terminals market in 2015 and 2023 is shown in the figure below.

As of 2014, the hardware segment, comprising POS monitors (touch screen, desktop, and laptop), barcode scanners (handheld and tabletop), and card readers, among others, accounted for the majority of retail POS terminal market revenue share. However, the hardware segment is forecast to witness a decline in revenue share with the emergence of cloud-based solutions. Several established retailers, including Apple, Nordstrom, Home Depot, and Gucci, among others, have shown a willingness to embrace SaaS-based solutions because of being able to store and access a significant amount of customer-related information remotely. This recent shift towards cloud-based solutions is expected to favor the POS terminal software business, driving the overall POS terminal market across retail applications.

As of 2015, the global retail POS terminal market was led by the supermarket segment. The segment accounted for over 38 percent of the global retail POS terminal market's revenue in the same year and is expected to exhibit steady growth during the forecast period of 2016–2023. The trend is expected to continue, with the segment holding on to its leading position during the forecast period. The expanding supermarket chains, especially in tier-3 and tier-2 cities, are expected to drive demand for new POS terminal installations.

Based on geography, the global retail POS (Point of Sale) terminal market is segmented into the following regions and countries:

  • North America
  • The U.S.
  • rest of North America
  • Europe
  • United Kingdom
  • France
  • Germany
  • Rest of Europe
  • Asia Pacific
  • Japan
  • China
  • India
  • Rest of Asia Pacific
  • Rest of the World
  • Latin America
  • Middle East and Africa

The contribution of these regions (North America, Europe, Asia Pacific, and RoW) to the global retail POS Terminals market in 2014 is shown in the figure below.

As of 2014, North America, comprising the United States and Canada, was the largest retail POS terminal market worldwide, followed by Asia Pacific and Europe. The region accounted for over one-fourth of the global retail POS terminal market revenue in the same year. The region is expected to exhibit steady growth during the forecast period, led by regulated demand from established retail chains like Walmart and Target. However, Asia Pacific is expected to witness maximum growth, surpassing North America to become the major POS terminal market for retail applications during the forecast period. The anticipated growth is presumed to be driven by expanding retail chains and a growing trend toward organized retailing in the region.

Frequently Asked Question:

The market for Retail POS Terminals is expected to reach USD XX million Bn in 2023.

The Retail POS Terminals market is expected to see significant CAGR growth over the coming years, at 12.8%.

The report is forecasted from 2016 -2023

The base year of this report is 2015.

Ingenico S.A., NCR Corporation, PAX Technology Limited, VeriFone Systems. are some of the major players in the global market.

Choose License Type
Trusted By
Godaddy
Published Date:  Jun 2016
Category:  Semiconductor & Electronics
Report ID:   57961
Report Format:   PDF
Pages:   120
Rating:    4.5 (65)
Delivery Time: 24 Hours to 48 Hours   
Connect With Us
+91-8668442535
24/7 Research Support