Wireless POS Terminal Market Size, With Industry Share, Growth, Trends Analysis By 2032

(MENAFN- Alliance News) The global wireless POS terminal market revenue was around US$ 8.8 billion in 2022 and is estimated to reach US$24.8 billion by 2031, growing at a compound annual growth rate (CAGR) of 12.5% during the forecast period of 2023-2031.

A wireless POS machine is a computerized tool that is used in banks, shops, museums, subway stations, pharmacies, and restaurants to handle card payments. This software is made for content management, configuration, and asset management. And the hardware category includes payment terminals like tablets and smartphones connected to debit and credit card readers, workstations, cash drawers, and also accessories like barcode scanners, displays, receipt printers, etc.

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Factors Influencing Market Growth

The technological advancements in wireless POS terminals like in inclusion of machine learning and automation are expected to increase the growth of the wireless POS terminal market in upcoming years.

Increasing adoption of wireless POS terminal machines by restaurants and the healthcare industry for simplifying operations is expected to deliver lucrative opportunities for the growth of the market in upcoming years.

It also assists businesses in better management of customers and easy operations, increasing preference for cashless transactions and growing adoption of wireless POS terminals for smoother business operations which majorly contribute toward the growth of the market.

The high asset costs and security risks of the POS terminals restrict the growth of the wireless POS terminal market.

Impact of COVID-19

The impact of COVID-19 on the wireless POS terminal industry had a positive result as there was a surge in preference for cashless transactions.

The growth of wireless POS terminal systems during the pandemic has helped the interaction of customer relationship management (CRM) as well as other financial solutions for organizations. This also allowed businesses to use wireless POS terminal transaction data for business intelligence. Similarly, the growth of the digital payment industry during the pandemic has pushed the growth of the wireless POS terminals market.

Regional Analysis

The Asia-Pacific region held the largest wireless POS terminal market share in 2022. This is attributed to the fact that the Asia-Pacific is at the top of technological adoption, which also influences the expansion of the wireless point-of-sale terminals market. In acquisition, the rising popularity of cashless transactions in various countries of the region is also a factor that is driving new business opportunities.

Leading Competitors

The leading prominent companies profiled in the global wireless POS terminal market are:

Aures Group
Castles Technology Co. Ltd.
Cyber Net Manufacturing Inc.
Diebold Nixdorf
Incorporated
First Data
Hewlett Packard Enterprise Development LP
INGENICO
Lightspeed Management Company LLC
Moneris
Oracle
Panasonic Corporation
Pax Technology Limited
Posiflex Technology
Revel Systems
VeriFone
Clip
Tyro
Other Prominent Players

Segmentation Outline

The global wireless POS terminal market segmentation focuses on Component, Type, Application, Industry Vertical, and Region.

Segmentation based on Components
Hardware
Software
> On-Premise
> Cloud
Services
> Professional Services
> Managed Services

Segmentation based on Type

Portable Countertop and PIN Pad
mPOS
Smart POS
Others

Segmentation based on Application

Front End
Back End

Segmentation on Industry Vertical

Retail
Hospitality
> Full-service Restaurant (FSR)
> Quick Service Restaurant (QSR)
> Institutional FSR
> Others
Healthcare
Entertainment
Transportation
Others

Segmentation based on Region

North America
o The U.S.
o Canada
o Mexico
Europe
o Western Europe
> The UK
> Germany
> France
> Italy
> Spain
> Rest of Western Europe
o Eastern Europe
> Poland
> Russia
> Rest of Europe
Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
South America
o Brazil
o Argentina
o Rest of South America

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Analyze market outlook with recent trends and SWOT analysis.

Dynamic market scenario along with market growth opportunities for the coming years.

Market segmentation analysis, including qualitative and quantitative research incorporating the impact of economic and non-economic aspects.

Regional and national analyzes integrating supply and demand forces that are influencing market growth.

Market value (millions of dollars) and volume (millions of units) data for each segment and sub-segment

Competitive scenario involving the market share of the main players, along with the new projects and strategies adopted by the players in recent years.

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