What Transformation Has the Wireless POS Terminal Market Undergone?
The wireless pos terminal market has seen considerable growth due to a variety of factors.
• In the past few years, there has been substantial growth in the market size of wireless POS terminals. Projected to rise from $13.08 billion in 2024 to $14.7 billion in 2025, the market will experience a compound annual growth rate (CAGR) of 12.4%.
Factors contributing to this growth during the historical period include the growing use of mobile devices, an upsurge in demand for solutions based on cloud, requirement for agility and mobility in payment transactions, a rise in internet usage, and an escalating need for regulatory adherence.
How Will The Wireless POS Terminal Market Size Evolve In The Foreseeable Future?
The wireless pos terminal market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for wireless POS terminals is projected to witness massive upturn in the ensuing years, expected to reach $24.07 billion by 2029, with a CAGR of 13.1%.
This rapid growth in the forecast period can be attributed to the heightened adoption of contactless payment methods, escalating demand for wireless POS terminals in burgeoning economies, breakthroughs in biometric technology, and a growing fondness for mobile wallets, with increased emphasis on enhancing customer satisfaction. The forecast period will also see prominent trends like the burgeoning popularity of handheld and portable wireless POS terminals, elevated adoption of smart POS terminals, the integration of AI and machine learning, omnichannel integration, and the integration of the Internet of Things (IoT).
Which Drivers Are Accelerating Growth In The Wireless POS Terminal Market?
The projected growth of the wireless Point of Sale (POS) terminal market is largely credited to an upswing in e-commerce transactions. E-commerce, also referred to as online trade, involves goods, services, and funds exchanged over an electronic network, prominently the internet. The amplified activities in e-commerce, combined with the adoption of cashless payments and a heightened reliance on wireless terminals by traders, have thrust e-commerce platforms to the forefront, consequently demanding the application of wireless POS solutions. For example, in May 2024, the Census Bureau, a US government agency, reported an 8.5% increase in e-commerce sales in the first quarter of 2024, compared to the same timeframe in the previous year, contributing to 15.6% of the total retail sales, which saw a year over year growth of 2.8%. Given this, the upsurge of e-commerce transactions is primarily triggering the expansion of the wireless POS terminal market.
What Are The Core Segments Of The Global Wireless POS Terminal Market?
The wireless POS terminal market covered in this report is segmented –
1) By Type: Portable Countertop And PIN Pad, mPOS, Smart POS, Mini POS, Smart Mobile Dongle
2) By Component: Hardware, Software, Services
3) By Technology: NFC Terminal, Non-NFC Terminal
4) By Application: Restaurants, Hospitality, Healthcare, Retail, Warehouse Or Distribution, Other Applications
Subsegments:
1) By Portable Countertop And PIN Pad: Wireless Countertop Terminals, PIN Pad Devices
2) By mPOS: Mobile Point Of Sale Solutions, Card Reader Accessories
3) By Smart POS: Integrated POS Systems, Tablet-Based POS Solutions
4) By Mini POS: Compact POS Devices, Lightweight Wireless Terminals
5) By Smart Mobile Dongle: Bluetooth Dongles, NFC-enabled Dongles
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Which Emerging Trends Are Reshaping The Wireless POS Terminal Market Size?
Key players in the wireless POS terminal market are concentrating on the creation of mobile POS tablets. These efforts are intended to boost the efficiency of transactions, provide superior customer service, and offer businesses flexible, customer-friendly payment processing option in diverse retail settings. The concept behind mobile POS tablets is the ability to handle transactions and manage sales procedures from anywhere. Every tablet is fitted with an in-built 2D scanner and an NFC module, enabling efficient transactions and inventory management. As an example, Posiflex Technology Inc., a manufacturing firm based in Taiwan, introduced the Opera MT-6200 Series Mobile POS Tablets in June 2024. These tablets, which run on Intel's Elkhart Lake Celeron Processor, have support for both Windows 10 IoT LTSC and Windows 11 IoT GAC, guaranteeing sturdy performance and versatility with different applications. The device line boasts an IPX7 waterproof USB Type-C connector, facilitating docking and rapid power charging, thereby increasing usability in demanding conditions.
Who Are the Key Players in the Wireless POS Terminal Market?
Major companies operating in the wireless POS terminal market include:
• Elavon Inc.
• VeriFone Inc.
• Fiserv Inc.
• PAX Global Technology Limited
• NCR Corporation
• iVeri Payment Technologies (Pty) Ltd.
• CEGID GROUP SA
• Squirrel Systems
• Castle Advanced Technologies And Systems Private Limited
• Fujian Newland Payment Technology Co. Ltd.
• Emerge Mobile (Pty) Ltd.
• Equinox Payments LLC
• Hewlett-Packard Development Company L. P.
• Nce Corporation (s) Pte. Ltd.
• Micros Systems Inc.
• Miura Systems Ltd.
• Ingenico SA
• First Data Corporation
• Diebold Nixdorf Inc.
• BBPOS(Stripe Inc. )
• Oracle Corporation
• Winpos Group AB
• BITEL TECHNOLOGIES Ltd.
• CitiXsys- Ivend reatil
• Posiflex Technology Inc.
• NEC Corporation
• SPECTRA Technologies Holdings Co. Ltd.
• Zebra Technologies Corp.
• TOSHIBA CORPORATION
• QVS Software Inc.
What are the Regional Insights into the Wireless POS Terminal Market?
North America was the largest region in the wireless POS terminal market share in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the wireless POS terminal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
