Wireless POS Terminal Market size was valued at US$ 8.67 Billion in 2021 and the total Wireless POS Terminal revenue is expected to grow at 9.8% through 2022 to 2029, reaching nearly US$ 18.32 Billion.
Wireless POS Terminal Market Overview:
The "Global Wireless POS Terminal Market" is an in-depth look at the Wireless POS Terminal Market , with a focus on global market trends and analysis. This study seeks to provide an overview of the Wireless POS Terminal Market industry as well as detailed market segmentation by segment and geography. The Wireless POS Terminal Market is expected to expand rapidly over the forecast period. The research contains critical information on the market positions of the top Wireless POS Terminal Market firms, as well as significant industry trends and opportunities.
Market Scope :
To validate the market size and estimate the market size by different segments, top-down and bottom-up methodologies are utilized. The research's market estimates are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights applied to each section based on usage rate and average sale price are used to determine percentage splits, market shares, and segment breakdowns. The percentage adoption or usage of the provided market Size in the relevant area or nation is used to determine the country-wise splits of the overall market and its sub-segments.
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Segmentation of Wireless POS Terminal Market :
In terms of Type, the mPOS sector is anticipated to rule the market by 2029. During the aforementioned projected period, a CAGR of 9.7% is anticipated. The popularity of digital payment methods like Amazon Pay and Google Pay among consumers is one of the main factors boosting the growth of the mPOS market sector. For instance, Google Pay processed 957 million transactions in India in 2020, while PhonePe processed 870 million and Paytm processed 270 million. As contactless payments gain popularity, merchants are utilising mPOS devices to accept payments straight from customers' smartphones. Shops are converting to sophisticated terminals that accept payments from NFC-enabled cards or applications in place of conventional point-of-sale systems.
As service providers compete to be first to market in the more mPOS-ready rising regions, there is an increasing interest in the potential of mPOS in emerging economies. The characteristics that are predicted to propel the growth of the mPOS market segment include rising smartphone penetration, a sizable base of SMEs and micro-merchants, low penetration of traditional POS terminals, a core population of card users who are increasing, and bank and government initiatives to increase card acceptance.
In terms of revenue, the hospitality industry accounted for the second-largest share of the wireless POS terminal market in 2021, only behind retail. A broad range of industries make up the hospitality sector, which includes hotels, food and beverage services, event planning, theme parks, and tourism.
POS systems for tablets, which are common in retail, are now accessible to the restaurant industry. At first, these systems weren't sophisticated, and a lot of them didn't support a remote printer in the kitchen. Several restaurants, especially those that offer table service, are now using tablet technology. The majority of tablet systems upload all data to the Internet, making it possible for managers and owners to see reports from any location with an Internet connection and a login.
Key Players of Wireless POS Terminal Market :
Primary and secondary research is used to discover industry titans, while primary and secondary research is utilized to assess market revenue. The core research included in-depth interviews with a variety of thought leaders and industry experts, including experienced front-line personnel, CEOs, and marketing specialists. Secondary research comprised an examination of well-known manufacturers' annual and financial reports. Secondary data is utilized to calculate percentage splits, market shares, growth rates, and global market breakdowns, which are then cross-checked against primary data. The following are a few companies working in the Wireless POS Terminal Market industry.
- • Verifone
• PAX Global Technology
• Ingenico
• First Data
• Diebold Nixdorf
• NCR Corporation
• Elavon
• Winpos
• BBPOS
• Bitel
• Squirrel Systems
• Cegid Group
• Citixsys Americas
• Newland Payment Technology
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Regional Analysis :
The Wireless POS Terminal Market research focuses into geographic analysis, which is further separated by sub-regions and nations. Profit projections and market share statistics for each country are included in this section of the research. This component of the study examines each region's and country's share and growth rate throughout the forecasted time period.
The report provides a thorough PESTEL analysis for all five regions, including North America, Europe, Asia Pacific, the Middle East, Africa, and South America, after considering political, economic, social, and technical issues effecting the Wireless POS Terminal Market in various sectors.
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COVID-19 Impact Analysis on Wireless POS Terminal Market :
Customer behaviour has changed as a result of the COVID-19 virus across all areas of society. Businesses, on the other hand, will need to revise their strategy to account for changing market supply. This report provides an overview of the COVID-19's influence on the Wireless POS Terminal Market and will assist you in developing your business in accordance with the new industry norms.
Under the COVID-19 Impact section, the Wireless POS Terminal Market Report delivers a 360-degree research ranging from the agile supply chain and trade restrictions to regional government policies and the firm's future impact. Primary market research (2021-2027), instances of venture rivalry, the benefits and drawbacks of large corporate channels, and industry growth trends (2021-2027) have all been provided.
Key Questions Answered in the Wireless POS Terminal Market Report are :
- How big is the market for Wireless POS Terminal Market ?
- Which regional market will emerge as the market leader in the next years?
- Which application category is expected to develop the fastest?
- What opportunities for growth could exist in the Wireless POS Terminal Market industry in the next years?
- What are the most significant future challenges that the Wireless POS Terminal Market may face?
- Who are the market leaders in the Wireless POS Terminal Market category?
- What are the main trends that are influencing market growth?
