The global wireless POS terminal market is expected to exhibit a strong 13% CAGR over the forecast period from 2017 to 2023, according to the latest research report from Market Research Future (MRFR). The wireless POS terminal market is expected to reach a valuation of USD 12 billion by 2023, according to the report. The report presents a detailed overview of the global wireless POS terminal market by taking in the historical growth trajectory of the market and presenting studied forecasts for the market’s movement over the forecast period based on an analysis of the market’s historical trajectory. Thus, the report presents a comprehensive evaluation of the global wireless POS terminal market by presenting an evaluation of the past, present, and likely future of the market. The major players operating in the global wireless POS terminal market are also profiled in detail in the report in order to give readers an accurate overview of the competitive landscape of the market. The impact of the COVID-19 pandemic on the global wireless POS terminal market is also studied in the market.
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Wireless
POS terminals are payment terminals that enable cashless payments through
credit or debit cards. A wireless POS terminal operates through four stages.
First, the device scans the information presented by the customer’s credit or
debit card. Second, the device checks the customer’s bank balance to see if the
account has the requisite amount to complete the ongoing transaction. Third,
the device carries out the transaction by transferring the requisite amount to
the seller’s account. Lastly, the device makes a digital note of the
transaction and provides a receipt to the customer. The growing demand for
cashless payment in developed regions is likely to be a major driver for the
global wireless POS terminal market over the forecast period. Cashless payment
presents several advantages, including the prime advantage of the higher
convenience compared to cash, as the user only has to carry a card with them,
rather than having to carry wads of cash. The widespread availability of
digital networks to complete cashless transactions has also been a major driver
for the wireless POS terminal market in developed regions in particular. This is
likely to remain a major driver for the global wireless POS terminal market
over the forecast period.
On the
other hand, concerns regarding the safety of online and digital transactions
are a key restraint on the global wireless POS terminal market. In recent
years, the safety of digital cashless transactions has come under the scanner,
with many BFSI institutions suffering from cyber attacks and data breaches
leading to disclosure of the confidential information of several customers.
This is likely to remain a key restraint against the global wireless POS
terminal market over the forecast period.
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Segmentation:
The global
wireless POS terminal market is segmented on the basis of component, type, end
user, and region.
By
component, the global wireless POS terminal market is segmented into hardware,
software, and services. The hardware segment is sub-segmented into payment
terminals, accessories, and workstations. The payment terminals segment is
further sub-segmented into smartphones and tablets associated with credit or
debit card readers. The accessories segment is further segmented into monitors,
receipt printers, barcode scanners, wireless barcode scanners, PIN pads, cash
drawers, physical inventory scanners, and tag printers. The software segment is
further sub-segmented into content management, asset management, configuration
solutions, and others. The services segment is further sub-segmented into
merchant services, installation services, transaction management services, and
others.
By type,
the global wireless POS terminal market is segmented into portable countertop
and pin pad, mPOS, smart POS, and others.
By end
use, the global wireless POS terminal market is segmented into retail and
ecommerce, hospitality, medical and healthcare, automotive and transportation,
sports and entertainment, and others.
Regional Analysis:
North America
is likely to dominate the global wireless POS terminal market over the forecast
period due to the widespread availability of the digital infrastructure needed
to operate wireless POS terminals. The U.S. and Canada are among the leading
national markets
Competitive Leaderboard:
Leading
players in the global wireless POS terminal market include BBPOS, Squirrel
Systems, Diebold Nixdorf, NCR Corporation, PAX Global Technology, Touchbistro,
CITIXSYS AMERICAS, Newland Payment Technology, Castles Technology, Elavon,
Moneris, Cegid Group, BITEL, Winpos, First Data, Verifone, and Ingenico.
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1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain Of Global Wireless POS Terminal Market
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