POS Terminals Market is projected to reach USD 178.78 Billion by 2030 from USD 90.38 Billion in 2022 at a CAGR of 8.9% from the year 2023 to 2030.

AUSTIN, TEXAS, UNITED STATES, March 8, 2024 /EINPresswire.com/ -- POS Terminals Market is projected to reach USD 178.78 Billion by 2030 from USD 90.38 Billion in 2022 at a CAGR of 8.9% from the year 2023 to 2030.

An electronic device called a Point-of-Sale (POS) terminal is used to process credit card payments at establishments like retail stores, petrol stations, hospitals, pharmacies, resorts, restaurants, and hotels. The market is in greater demand due to the rising need for affordable wireless communication technology. Wireless devices are used by point-of-sale (POS) systems to enable payments for goods and services. Wireless technology is used to expedite a number of processes, including those in restaurants and rental cars. POS terminals are used by companies in the retail and hospitality industries for inventory management, accounting, and other operational duties including remittance.

From transaction-oriented terminals or devices, point-of-sale (POS) systems have developed into systems that interact with the company's CRM and finance solutions. End users now have the ability to manage their inventories and revenue streams more effectively thanks to the evolution of business intelligence (BI). Three of point-of-sale systems' most important benefits are real-time inventories, reduced maintenance costs, and accurate transactions. Companies have switched from traditional billing software to point-of-sale (POS) systems due to the modern POS systems' several functional benefits, which has secured the market's growth.

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For example, POS technology is essential to inventory, products, operations, and tracking sales, operations, products, and inventory for food service providers, restaurants, and bars. The market concept includes equipment and displays to conduct online transactions with the use of cash registers, barcode scanners, and computers. In addition, the industry is growing due to the growing usage of mobile point-of-sale (POS) terminals, advancements in payment technology, acceptance of Visa, Mastercard, and e-commerce cards, and growing market share in the retail and e-commerce sectors.

Concerns about privacy and security arising from data breaches have captured the attention of the market. The market for POS terminals is expanding due to the popularity of contemporary drive-thrus. A number of businesses began implementing point-of-sale (POS) systems in order to integrate their kitchen, order fulfillment, and drive-thru lines for efficient order fulfillment and delivery. For example, drive-thrus at some of their drive-thrus have been expanded by fast-casual companies including Panera, Starbucks, and Chipotle. Opportunities for market expansion have been created by the rising popularity of mobile point-of-sale terminals.

Top Key Players of POS Terminals Market-
Acumera, Inc., Acrelec, AURES Group, HM Electronics, Hewlett Packard Development LP, NCR Corporation, Oracle Corporation, Payabl, POSaBIT Systems Corporation, Presto Group, Qu, Inc., Quail Digital, Revel Systems, Toast, Inc., Toshiba Corp., TouchBistro, Xenial, Inc.

Market Segmentation
BY TYPE
Fixed
Mobile
Portable Countertop & PIN Pad
mPOS
Smart POS
Others

BY COMPONENTS
Hardware
POS Software & Services

BY APPLICATION
Retail
Hospitality
Healthcare
Transportation
Sports & Entertainment
Others

REGIONAL ANALYSIS:
Based on the global diversity of retail outlets and the distribution of targeted audiences around the world, the market operates in 4 major regions. The North American market is likely to grow with excellent growth prospects and thus, has helped the market reach its largest point of market size at the end of the 2023-2030 forecast period. The point of sale in the retail market is home to the modern development of the payment industry as well, with extensive contributions made by business-specific solutions. Another reason that will help the market to gain momentum in the global competition is the significant use and implementation of wireless PoS terminals across a wide range of industries such as the hotel, medical, and healthcare among others such as the retail and entertainment industry. EMV is one of the compliance requirements affecting improved security of payments that will add to the market growth graph during the forecast period 2023-2030.

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Akash Anand
SNS Insider Pvt. Ltd
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