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2022
Wireless Pos Terminal Market

Wireless POS Terminal Market By Component (Hardware, Software and Services), Type (Portable Countertop & PIN Pad, mPOS, Smart POS and Others [Mini POS and Smart Mobile Dongle]) and Industry Vertical (BFSI, Retail & E-Commerce, Healthcare, Travel & Hospitality, Transportation & Logistics, Media & Entertainment and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030

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COVID-19

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A point-of-sale (POS) terminal is a device that allows businesses to conduct online money transactions right at the customers' location, by bringing convenience to both parties. Accepting debit and credit payments quickly and securely from any location will be possible with the wireless POS terminal.

In addition, because of their portability, such systems are ideal for restaurants and bars with limited seating. Furthermore, it employs 3G technologies to enable restaurants, retailers, and taxi/car drivers to make payments while on the move. Moreover, wireless POS terminals enable users to accept more payment options and capture more sales in mobile businesses such as food trucks, pop-up shops and delivery businesses. Therefore, the surge in demand for the wireless POS terminal across many sectors is expected to boost the growth of the market in the upcoming period.

The global wireless POS terminal market is segmented on the basis of component, type, industry vertical and region. Based on component, the market is divided into hardware, software and services. In terms of type, the market is categorized into portable countertop & PIN pad, mPOS, smart POS and others. On the basis of others, the market is further divided into mini POS and smart mobile dongle. On the basis of industry vertical, the market is divided into BFSI, retail & e-commerce, healthcare, travel & hospitality, transportation & logistics, media & entertainment and others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global wireless POS terminal industry include Ingenico, VeriFone Inc., Fiserv Inc., PAX Global Technology Limited, NCR Corporation, Elavon Inc., Cegid, Squirrel Systems, Castles Technology and Newland Payment Technology. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global wireless POS terminal market.

Market Scope and Structure Analysis

Report Metric

Details

  Market size available for years

  2020–2030

  Base year considered

  2020

  Forecast period

  2021–2030

  Forecast units

 Value ($)

  Segments covered

Component, Type, Industry Vertical and Region

  Regions covered

North America (U.S. and Canada), Europe (Germany, UK, France, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), Latin America (Brazil, Mexico, and rest of LATAM), and Middle East & Africa

  Companies covered

Major players analyzed include Ingenico, VeriFone Inc., Fiserv Inc., PAX Global Technology Limited, NCR Corporation, Elavon Inc., Cegid, Squirrel Systems, Castles Technology and Newland Payment Technology

 

COVID-19 Scenario Analysis

  • During the COVID-19 outbreak, the pandemic has had the greatest impact on wireless POS terminals market trends. Furthermore, the swipe machines to process digital payments are scarce in retail outlets, as the use of payment terminal buttons can spread COVID-19.
  • As a result, the demand for smart POS has grown as a means of maintaining safety and hygiene. This has aided in the growing acceptance of digital payments, which allows several end-users to deploy wireless point-of-sale terminals to improve customer service.

Top Impacting Factors

The rise in business mobility and flexibility and increase in demand for faster and secure payment transactions across businesses are driving the growth of the market. In addition, the increased demand for wireless POS terminals in the retail sector is expected to propel the market forward. However, cloud-based services, are frequently met with skepticism, which will limit the market's growth. Contrarily, the rising demand for wireless POS terminals across all verticals in the developed and emerging economies is expected to foster the growth of the market in the upcoming years.

The Rise in Business Mobility and Flexibility

Wireless POS terminals can be accessed from any device with an internet connection. This allows to see real-time labor utilization percentages, inventory counts, and productivity reports, and at any time, the data can be updated and accessed from any remote location. This advantage of cloud POS improves the flexibility of business operations. Furthermore, wireless POS terminals can be set up on a mobile device, allowing users to carry their equipment with them. Furthermore, it also has the advantage of allowing business firms to expand their existing system's mobility by adding more mobile devices. Moreover, with this benefit, customers can take advantage of the functionality of a mobile POS (mPOS). Therefore, the rise in business mobility and flexibility is expected to boost the growth of the wireless POS terminal market during the forecast period.

Increase in Demand for Faster and Secure Payment Transactions Across Businesses

To streamline daily operations and gain access to data from anywhere, businesses are turning to wireless POS terminals. The software keeps businesses up to date on completed transactions and tasks across all sales channels.

Furthermore, it also provides useful data analytics, which enables businesses to track customer behavior and increase profits. In addition, market players have developed wireless POS terminals that are compatible with near-field communication (NFC) payments to enable faster and more secure payment transactions. Moreover, the wireless POS terminal market offers industry-specific attributes that can be tailored to a company's specific needs, and they will be able to manage their sales, inventory, and payments with a single solution, saving money on the cost of multiple systems. Therefore, the surge in demand for faster and secure payments across businesses is expected to drive the growth of the market during the forecast period.

Key Segments Covered

Segments

Sub-Segments

  Component

  • Hardware
  • Software
  • Services

  Type

  • Portable Countertop & PIN Pad
  • mPOS
  • Smart POS
  • Others
  • Mini POS
  • Smart Mobile Dongle

  Industry Vertical

  • BFSI
  • Retail & E-Commerce
  • Healthcare
  • Travel & Hospitality
  • Transportation & Logistics
  • Media & Entertainment
  • Others

 

Key Benefits of the Report

  • This study presents an analytical depiction of the global wireless POS terminal market forecast along with the current trends and future estimations to determine the imminent investment pockets.    
  • The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the market share.     
  • The current market is quantitatively analyzed from 2021 to 2030 to highlight the global wireless POS terminal market growth scenario.         
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.    
  • The report provides a detailed market analysis depending on the present and future competitive intensity of the market.

Questions Answered in the Wireless POS Terminal Market Research Report    

  • Which are the leading players active in the global wireless POS terminal market size?
  • What would be the detailed impact of COVID-19 on the global wireless POS terminal market analysis?
  • What are current trends that would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the global wireless POS terminal market share?
  • What are the projections for the future that would help in taking further strategic steps?
 
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