Fixed POS Terminal Market Size to Reach Revenues of USD 13.5 Billion by 2026 - Arizton

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Mar 11, 2021, 11:00 ET

CHICAGO, March 11, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global fixed POS terminal market report.

The fixed POS terminal market is expected to grow at a CAGR of over 10% during the period 2020−2026.

Key Highlights Offered in the Report:

In terms of volume, EMV-complaint fixed POS terminal market is expected to observe an incremental growth of over 30 million units by 2026.
In 2020, global goods purchase paid via cash has dropped to below 20% propelling the growth of the fixed POS terminal market.
In recent years, Vietnam has emerged as one of the key countries, with a CAGR of over 50% in terms of demand for fixed POS terminals.
The retail segment in the fixed POS terminal market to reach incremental revenues of over USD 2.4 billion by 2026.
India is likely to witness a CAGR growth of over 8.55% in unit shipments between 2020 and 2026 due to government-led demonetization and a shift toward digital economy.

Key Offerings:

Market Size & Forecast by Revenue | 2020−2026
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by compliance, technology, end-user, and geography
Competitive Landscape – 5 key vendors and 28 other vendors

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Fixed POS Terminal Market – Segmentation

Retail has been one of the key end-users for fixed POS terminals. Small businesses around the world have shown an increased inclination toward the adoption of electronic cash. The popularity of IoT and the rise in internet penetration across the world have significantly pushed the use of electronic money and payment cards.
The global EMV market has witnessed a significant boom in recent years. Emerging markets such as India have implemented structured regulations to promote EMV POS terminals. Changes in regulatory compliance have pushed the market toward the adoption of EMV cards.
NFC-complaint POS terminals crossed 70 million units in 2020. The NFC-compliant market displayed a strong momentum in 2020, and it is expected to observe an incremental growth of over 29 million units by 2026. NFC-ready devices are creating a buzz in emerging markets such as Brazil, Turkey, and China. The increasing emphasis on the use of EMV-enabled cards has boosted the segment growth.

Fixed POS Terminal Market by Compliance

EMV
Non-EMV

Fixed POS Terminal Market by Technology

NFC
Non-NFC

Fixed POS Terminal Market by End-user

Retail
Restaurant
Warehouse & Distribution
Healthcare
Hospitality
Gym & Fitness Center
Others

Fixed POS Terminal Market – Dynamics

Cloud-based technology is one of the key innovations of the last decade. COVID-19 has strengthened technology used in traditional fixed POS terminals. For instance, in a rapidly changing environment, Ingenico is revolutionizing the market by introducing new trends and innovating ways of supporting customer needs. The transformation in the payment acceptance model has evolved from a hardware-centric payment acceptance model to software and services-centric model. In the long-term, this will further become a recurring as-a-service revenue model based on their cloud-based platform. This is not only restricted to the banks and acquires, but it is likely to cater to the demand from the fintech start-ups. The company plans to offer cloud-based payment-acceptance platforms open to the market, which is likely to be known as a Payments Platform as a Service (PPaaS) solution.

Key Drivers and Trends fueling Market Growth:

Increasing Demand for NFC POS Terminal
Growth in Acquisition & Mergers
Demand in End-User Industries
High Adoption of EMV-Compliant POS Terminal

Fixed POS Terminal Market – Geography

The COVID-19 outbreak had relatively slowed down the market the first H1 2020. The retail segments being the major adopters of the fixed POS terminals, witnessed a drop of more than 30% in H1 2020, causing a slow down in demand and installation rate. However, on the other hand, COVID-19 also benefited the market as it witnessed a surge in the concept of contactless payments, which is likely to push the demand for NFC-ready fixed POS terminals. Even with the modernization of payment systems, the domination of cash has declined for payment services. For instance, in China in 2020, the use of cash payment dropped to 7% from 14% in 2018. However, with changes in technology and the emergence of innovative financial services, the use of payment cards and e-wallets has strengthened in recent years. Due to the low awareness in rural areas, the contribution to the transaction value of card payments is lower from rural areas. With rising internet penetration, it has opened a gateway for the digital economy, which has enabled the shift of payment forms. At POS terminals, the average per transaction using credit cards increased marginally in recent years, but debit cards have been almost stagnant.

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Fixed POS Terminal Market by Geography

North America

US
Canada

Europe

UK
Germany
France
Russia
Spain
Italy
Nordic

APAC

China
Japan
South Korea
India
Vietnam

Latin America

Brazil
Mexico
Argentina

Middle East & Africa

Saudi Arabia
South Africa
UAE

Major Vendors

Ingenico Group (Worldline)
Fujian Newland Payment Technology
PAX Global Technology
Verifone Systems
Shenzhen Xinguodu Technology (NEXGO)

Other Prominent Vendors

Fiserv
Cybernet
SZZT Electronics
USA Technologies
VISIONTEK Linkwell Systems
Centerm
BBPOS
Dspread Technology
Castles Technology
Bitel Corporation
New POS Technology Limited (New POS)
Sunyard System Engineering Co. Ltd.
Spire Payments
Shenzhen Justtide (Justtide)
Spectra Technologies
Vanstone Electronic Co. Ltd. (Beijing)
Datecs
YARUS
wizarPOS
YouTransactor
Equinox Payments
Bluebird
Lian Yu (UIC)
Panasonic Corporation
Gertec
Shenzhen Kaifa Technology Co. Ltd.
Toshiba Tec Corporation

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About Arizton:

Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.

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SOURCE Arizton Advisory & Intelligence