The unprecedented growth of the global fixed POS terminal market is driving global companies to acquire small and regional suppliers to increase their presence.
According to the latest Arizton's market research report, the global fixed POS terminal market size to reach approximately USD 13.5 billion by 2026, growing at a CAGR of over 10% during the forecast period.
Global Fixed POS Terminal Market Growth Analysis
The sudden outbreak of COVID-19 is propelling the growth of the market due to the demand for contactless fixed POS terminals. The healthcare sector is witnessing significant growth in recent years due to the development of new patient management systems, which have opened new avenues for the use of fixed POS solutions. The unprecedented growth of the global fixed POS terminal market is driving global companies to acquire small and regional suppliers to increase their presence. The rise of M&A activities are expected to help players to surge their customer base and add revenue to the overall global fixed POS terminal market in the upcoming years.
What’s Trending in the Market?
- In 2020, global goods purchase paid via cash has dropped to below 20%.
- Ingenico plans to offer a cloud-based payments acceptance platform open to the market which is likely to be known as Payment Platform as a Service (PPaaS) solution.
- According to Square, a mobile POS provider, 45% of millennials in the US have made an NFC mobile payment, which reinforces its potential in developing countries.
- TSYS entered into a strategic partnership with ShopKeep POS to expand into cloud and tablet-based POS offerings.
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by compliance, technology, end-user, and geography
- Competitive Landscape – 5 Key Company Profiles and 28 Other Prominent Vendors
Which is the Leading Region in the Global Fixed POS Terminal Market?
In APAC, with changes in technology and the emergence of innovative financial services, the use of payment cards and e-wallets has strengthened in recent years. At POS terminals, the average per transaction using credit cards increased marginally, but debit cards have been almost stagnant. Payments through cards is overtaken cash as the most frequently used payment method in Australia which is fueling the demand for global fixed POS terminal market across the region. In terms of unit shipment, the POS terminal market in APAC is expected to reach approximately 53 million units by 2026. The increasing of internet penetration is opening a gateway for the digital economy that is enabling the shift of payment forms. The global fixed POS terminal market witnessed a tremendous rise in demand for smart fixed payment terminals in APAC, which are enabled with management software.
What Strategies are Adopted by the Global Fixed POS Terminal Market Players?
In the recent years, the global fixed POS terminal market is dominated by companies that have an international presence. Many global players are expected to expand their market presence across the globe, especially in the fast-developing countries in APAC and Latin America to gain market share. Vendors can boost profitability by practicing efficient production techniques that minimize product costs and mitigate associated risks. Players are expected to be updated with change in technology, to sustain in the competitive market. The companies with better technical and financial resources can develop innovative products in the global fixed POS terminal market. The growth of players in the market depends on its condition, GDP growth, and industry development.
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