Payment Terminal Market Size:
The global payment terminal market was valued at US$ XX Bn in 2020 and is expected to reach US$ 113.9 Bn by 2026 with a growing CAGR of approximately 7.3%.
With the increasing digital age and introduction of new technologies, cash payments are reducing at a high rate. The increasing demand for payment processing and understanding customer purchase patterns, and customer relationship management, among others is one of the primary factors driving the demand for payment terminal.
Key and positive trends of the segment include:
Payment Terminal Market Drivers:
Payment terminal is a device used to make electronic device payments by interfacing with the payment card. Payment terminal is also referred to as Point-of-Sale (POS) terminal.
The payments and transactions landscape is rapidly changing, due to the increasing enterprises and consumer inclination toward digital transformation and rising proliferation of smartphones. With the rising advancement in smartphones, digital payment cards, and POS at retail terminals are propelling the growth of the Payment Terminal Market. The rise in the POS terminals across various retail outlets and due to COVID 19, the rising adoption of mobile wallets are the key drivers for the market growth. According to Blackhawk Network, by end of 2021, it is expected that the mobile wallet will create nearly USD 190 billion as the transactional value in the US.
Payment Terminal Market is further witnessing growth owing the emergence of mobile-based POS (mPOS) includes a card reader connected to a basic ePOS app running on a tablet or smartphone, this will further fuel the market. In Addition, in this COVID-19 pandemic, contactless card limits across Europe have grown substantially as contactless payments were being promoted across globe. In 2019, there were only six countries in Europe where the contactless payment limit was EUR 30 or higher. For instance, North Macedonia had a contactless card limit of EUR 12. This has further propels the market growth.
Based on the regions, the global payment terminal market has been segmented as North America, Europe, APAC, MEA, and Latin America. Among which North America held the largest market share in the year 2019 and is expected to witness similar growth trends during the forecast period. The increasing adoption of advanced technologies along with the increasing modernization of payment methods are some of the key factors propelling the demand for payment terminals in this region. Moreover, the increasing advancement in payment options such as contactless payments and use of Near-Field Communication (NFC) are supporting the growth of payment terminal in the region.
Recent News & Developments in Payment Terminal Market
Payment Terminal Market Segmentation
In the report, the market is segmented into Component, deployment, type, OS Compatibility, end-use industry and region.
Based on Component
Based on Deployment
Based on Type
Based on OS Compatibility
Based on End-Use Industry
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Key Companies Mapped in Global Payment Terminal Market
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Chapter 1: Introduction
Chapter 2: Research Methodology
Section 3: Executive Summary
Section 4: Premium Insights
Section 5: Production Market Analysis
Section 6: Major Manufacturers Production and Sales Market Comparison Analysis
Section 7: Marketing Channel Analysis
Section 8: Manufacturing Cost Analysis
Section 9: Industrial Chain, Sourcing Strategy and Downstream Buyers
Section 10: Market Overview & Competitive Landscape
Section 11: Marketing Strategy Analysis, Distributors/Traders
Section 12: Market Size and Share Analysis
Section 13: Market Dynamics
Section 14: Future Forecast & Impact of COVID-19
Section 15: Regional Market Analysis
Section 16: Company Profile