Global POS Machines Market to Grow at a CAGR of 11.8% During 2024-2032, Aided by the Growing Penetration of IoT and the Advancements in the Payments Industry

With the growing digitisation and advancements in the payments industry, there has been an increase in the adoption of POS machines across different industry verticals, which is aiding the growth of the POS machines industry. These machines help small and medium businesses to expand and boost their sales while the large businesses use POS systems to gain consumer insights, which are then utilised to develop various discount schemes and personalised marketing strategies, improving overall customer experience. Other factors like the growing focus on customer relationship management (CRM), increased demand for user-friendly and convenient payment processing methods and decline in the trend of carrying cash for shopping are significantly contributing to the growth of the industry. Some of the major players in the industry include Ingenico Group and PAX Technology Limited.

In developing regions, the favourable government initiatives towards promoting the use of online banking and mobile banking have significantly contributed to the industry growth. The market is further supported by the availability of affordable smartphones and iPads through e-commerce platforms like Amazon.com, Inc. (NASDAQ: AMZN) and Alibaba Group Holding Ltd (NYSE: BABA). The increase in the number of smartphone users is expected to enhance the market share of mobile banking services in the regions, which will enhance the growth of the overall POS machines industry in the forecast period.

Market Breakup by Terminal Type, Industry, and Region:

• The various terminal types available in the industry include fixed POS terminals, mobile POS terminals, pocket POS terminals, and POS GPS/GPRS.
• Based on industry, the market can be categorised into retail and consumer goods, travel and hospitality, BFSI, media and entertainment, manufacturing, and healthcare, among others.
• Region-wise, the global market for POS machines can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The market is being driven by the advancements in the payments industry globally and the growing adoption of IoT. 
• The growing utilisation of POS machines in various industries, particularly retail and consumer goods and hospitality, is also aiding the industry growth.  
• The growing digitisation and favourable government initiatives in developing nations are further propelling the market growth. 
• The rapid technological advancements and the growing shift towards mobile devices for POS transactions are expected to significantly contribute to the industry growth. 

Key Offerings of the Report:

• The EMR report gives an overview of the global market for POS machines for the periods (2018-2023) and (2024-2032). 
• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the terminal types, industries, and major regions of POS machines.
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global POS machines market are Ingenico Group, PAX Technology Limited, Aures Group, Castles Technology Co., Ltd, and Cybernet Manufacturing, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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