The new report by Expert Market Research titled, ‘Global POS Machines Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global POS machines market, assessing the market based on its segments like terminal types, industries, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 11.8%
Based on terminal form, due to the increasing demand for convenient services and real-time analytics features, the mobile POS machine terminals segment is expected to lead the global market for POS machines in the forecast period. Mobile POS machine terminals provide improved portability over fixed POS machine terminals and are therefore seeing increased adoption. Meanwhile, due to the rising acceptance of technology and the rapid digitalisation across the globe, the GPS/GPRS POS computer terminals segment is expected to experience a robust growth rate over the forecast period.
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POS Machines Industry Definition and Major Segments
The POS machine refers to a point of sale machine, which is actually the most sophisticated acceptance machine for payment. In order to accept payments, it includes a debit and credit card reader and offers a transaction receipt, retaining sales history for transparency. These devices can also be attached to the user’s bank account, which is very useful for small business owners and retailers.
On the basis of terminal type, the market is segmented into:
• Fixed POS Terminals
• Mobile POS Terminals
• Pocket POS Terminals
• POS GPS/GPRS
By industry, the market can be segmented into:
• Retail and Consumer Goods
• Travel and Hospitality
• Media and Entertainment
The regional markets for POS machines include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
POS Machines Market Trends
The growth of the payments industry and the penetration of IoT are the key factors driving the growth of the global POS machine industry. The increasing adoption of POS machines across different industries, particularly the retail and consumer goods segments, is supporting the market. In developed countries, positive government policies and an increasing emphasis on digitalisation provide the industry with enhanced growth opportunities. The rapid technological developments over the projected period are expected to have a positive impact on business expansion. In the coming years, the use of mobile devices for POS transactions is expected to be a major market trend.
Key Market Players
The major players in the market are Ingenico Group (OTCMKTS: INGIY), PAX Technology Limited (OTCMKTS: PXGYF), Aures Group (EPA: AURS), Castles Technology Co., Ltd (TPE: 5258), Cybernet Manufacturing, Inc., and others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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