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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Virtual Payment (POS) Terminals Market Growth
Point of Sale (POS) systems offer numerous benefits to businesses. They streamline and speed up transactions, improving customer satisfaction. By providing real-time inventory tracking, POS systems help manage stock efficiently and prevent overstocking or shortages. They generate comprehensive sales reports and analytics that provide valuable insights into business performance and customer preferences, thereby driving the virtual payment (POS) terminals market demand.
The virtual payment (POS) terminals market dynamics and trends are being shaped by enhanced features such as loyalty programs and personalized promotions, which improve customer experience and encourage repeat business. POS systems also support secure payment processing, integrate with other business systems, and reduce errors by automating transactions. They include data backup and recovery options and are scalable, accommodating business growth and evolving needs.
Virtual Payment (POS) Terminals Market Report Snapshots
Virtual Payment (POS) Terminals Market Size
Virtual Payment (POS) Terminals Market Growth
Virtual Payment (POS) Terminals Market Analysis
Virtual Payment (POS) Terminals Market Share
Virtual Payment (POS) Terminals Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global virtual payment (POS) terminals market reached a value of USD 20.26 billion in 2023.
The market is projected to grow at a CAGR of nearly 30.3% in the forecast period of 2024-2032.
The market is estimated to reach a value of about USD 219.22 billion by 2032.
The major drivers of the market include the rising disposable incomes, increasing population, and the growing demand for contactless payments.
The increasing incorporation of Near Field Communications (NFC) devices in the industrial ecosystem and growing urbanisation are expected to be major key trends guiding the growth of the market.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The leading platforms of virtual payment (POS) terminals in the market are software and services.
The significant applications of virtual payment (POS) terminals in the market are retail, warehouse, hospitality, consumer electronics, food and beverage, health care, and entertainment, among others.
The competitive landscape consists of INGENICO Group S.A., NCR Corporation, NEC Corporation, PAX Technology, Samsung Electronics Co Ltd., and VeriFone Inc., among others.
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