Wireless POS Terminal Market is Expected to Expand at a CAGR of 23% Over The Coming 5 Years

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The logistics industry's widespread use of Wireless POS Terminals for seamless and effective customer engagement is fueling the market's expansion.

HYDERABAD, TELANGANA, INDIA, January 19, 2023 /EINPresswire.com/ -- The global Wireless POS Terminal Market size was valued at US$6.25 billion by 2027, and is expected to grow at a CAGR of 23% during forecast period 2022-2027. Wireless POS (Point of Sale) Terminal refers to the method of paying for products and services using wireless devices. These payment gateways generally use radio frequency identification, which is a near-field communications terminal technology. There are a variety of wireless POS systems including card payments and barcode scanning systems.

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Key Takeaways:

• The portable countertop & PIN pad segment held the largest share (35%) in the Wireless POS Terminal Market by type, in 2021. The high adoption of portable countertops & PIN pads is due to the increased use of advanced technologies to facilitate fast and flexible business operations.

• The retail and e-commerce segment, by end-users in the Wireless POS Terminal Market, is expected to grow the fastest at a CAGR of 14.5% during the forecast period 2022-2027. The retail and e-commerce sector is increasingly adopting the Wireless POS Terminal to enable an efficient and secure transaction system.

• Asia-Pacific is expected to grow at the fastest CAGR of 15.3% in the Wireless POS Terminal Market during the forecast period 2022-2027. The widespread adoption of wireless POS terminals across multiple sectors in this region enhances the operational flexibility of transaction systems with a significant increase in online shoppers.

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Segmental Analysis:

By Type: The Wireless POS Terminal Market by type has been segmented into portable countertop & PIN pad, mPOS, smart POS, Mini POS and smart mobile dongle. The portable countertop & PIN pad segment held the largest share with 35% in the Wireless POS Terminal Market by type, in 2021.

By End-users: The Wireless POS Terminal Market by end-users has been segmented into BFSI, retail and e-commerce, healthcare, travel and hospitality, transportation, logistics, media and entertainment and others. The retail and e-commerce segment is expected to grow the fastest at a CAGR of 14.5% during the forecast period 2022-2027.

By Geography: The Wireless POS Terminal Market by geography is segmented into North America, Europe, APAC, South America and RoW. Asia-Pacific is expected to grow at the fastest CAGR of 15.3% during the forecast period 2022-2027.

Competitive landscape:

The top 5 players in the Wireless POS Terminal industry are:

1. Ingenico Group
2. First Data Corporation
3. Elavon Inc.
4. Castles Technology Ltd.
5. Verifone Holdings, Inc.

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