Global Manned POS Terminal Market, By Component (Hardware, Software, Service), Type (Fixed Point of Sale Terminals, Mobile/Portable Point of Sale Terminals), End-user Industry (Entertainment, Hospitality, Healthcare, Retail) - Industry Trends and Forecast to 2031.
Manned POS Terminal Market Analysis and Size
The POS terminal market has witnessed significant growth over the past few years, owing to its ability to offer an increased Return on Investment (RoI) and ease of access. POS terminal systems that facilitate transactions from the central component of businesses across industries, such as retail, hospitality, transportation, and banking, have gained importance in small and big-sized companies over the years.
The global manned POS terminal market was valued at USD 98.89 billion in 2023 and is expected to reach USD 149.04 billion by 2031, registering a CAGR of 8.6% during the forecast period of 2024-2031. “Hardware” segment continues to dominate the market is primarily driven by the essential role of physical terminals in facilitating transactions and ensuring secure payment processing, emphasizing reliability and durability as key factors driving market demand. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Component (Hardware, Software, Service), Type (Fixed Point of Sale Terminals, Mobile/Portable Point of Sale Terminals), End-user Industry (Entertainment, Hospitality, Healthcare, Retail)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa
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Market Players Covered
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Verifone Systems, Inc. (U.S.), Ingenico Group (France), PAX Technology (China), Toshiba Corporation (Japan), NCR Corporation (U.S.), Diebold Nixdorf, Inc. (U.S.), Square, Inc. (U.S.), Panasonic Corporation (Japan), Hewlett-Packard Development Company, L.P. (U.S.), NEC Corporation (Japan)
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Market Opportunities
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Market Definition
A manned Point of Sale (POS) terminal refers to a physical device used by merchants or sales personnel to process payments from customers during face-to-face transactions. These terminals typically consist of hardware components such as a card reader, keypad, display screen, and connectivity options to interact with payment cards, cash, or mobile wallets to facilitate transactions securely and efficiently.
Global Manned POS Terminal Market Dynamics
Drivers
- Technological Advancements
The continuous evolution and advancement in technology, particularly in the fields of biometrics, contactless payment systems, and security protocols, are driving the growth of the manned POS terminal market. These technological advancements enhance the efficiency, security, and user experience of POS terminals, encouraging businesses to invest in updated systems to meet evolving consumer expectations.
- Increasing Adoption of Cashless Transactions
The global shift towards cashless transactions, fueled by factors such as convenience, hygiene concerns, and government initiatives promoting digital payments, is a significant driver for the manned POS terminal market. As businesses strive to accommodate diverse payment methods and cater to a growing population of digitally savvy consumers, the demand for manned POS terminals is expected to surge across various industries.
Opportunities
- Integration of AI and Analytics
The integration of AI and analytics capabilities into manned POS terminals opens up new opportunities for businesses to enhance customer engagement, streamline operations, and drive revenue growth. AI-powered features such as personalized recommendations, predictive analytics for inventory management, and fraud detection algorithms can revolutionize the functionality of POS terminals, offering businesses valuable insights and competitive advantages in the market.
Restraints/Challenges
- Security Concerns and Data Privacy Issues
Despite technological advancements, security concerns and data privacy issues remain a significant restraint for the manned POS terminal market. With the increasing sophistication of cyber threats and the growing volumes of sensitive financial data processed through POS terminals, businesses face heightened risks of data breaches and fraudulent activities. Addressing these concerns and implementing robust security measures is imperative to build consumer trust and safeguard the integrity of payment transactions.
This manned POS terminal market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the manned POS terminal market contact Data Bridge Market Research for an Analyst Brief, Our team will help you take an informed market decision to achieve market growth.
Recent Development
- In May 2022 , Lavu partnered with Verifone to provide restaurants with unified payments and point-of-sale solutions. The strategic partnership helped serve the restaurant industry better, allowing Verifone and Lavu to offer customers a high-quality, unified point of sale (POS) and payment experience
Global Manned POS Terminal Market Scope
The global manned POS terminal market is segmented on the basis of component, type, and end-user industry. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Component
- Hardware
- Software
- Service
Type
- Fixed Point of Sale Terminals
- Mobile/Portable Point of Sale Terminals
End-user Industry
- Entertainment
- Hospitality
- Healthcare
- Retail
Global Manned POS Terminal Market Regional Analysis/Insights
The global manned POS terminal market is analysed and market size insights and trends are provided by country, component, type, and end-user industry as referenced above.
The countries covered in the global manned POS terminal market report are U.S., Canada, Mexico, Brazil, Argentina, rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, and rest of Middle East and Africa.
North America is the dominating and the fastest-growing region in the manned POS terminal market as the region has a well-established retail industry, a high adoption rate of new technologies, and a strong economy, which makes it an attractive market for POS terminal vendors. The healthcare industry in North America are also adopting POS terminals for various purposes, such as collecting patient payments, managing appointments, and billing insurance companies.
The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Europe brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Manned POS Terminal Market Share Analysis
The global manned POS terminal market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Europe presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the market.
Some of the major players operating in the global manned POS terminal market are:
- Verifone Systems, Inc. (U.S.)
- Ingenico Group (France)
- PAX Technology (China)
- Toshiba Corporation (Japan)
- NCR Corporation (U.S.)
- Diebold Nixdorf, Inc. (U.S.)
- Square, Inc. (U.S.)
- Panasonic Corporation (Japan)
- Hewlett-Packard Development Company, L.P. (U.S.)
- NEC Corporation (Japan)
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