Contactless PoS Terminal Market Size, Share, Trends, Growth Report 2032

Contactless PoS Terminal Market Insights

Zion Market Research has published a report on the global Contactless PoS Terminal Market, estimating its value at USD 123.88 Billion in 2023, with projections indicating that it will reach USD 259.27 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 7.7% over the forecast period 2024-2032. The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Contactless PoS Terminal Market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Contactless PoS Terminal Market: Introduction

Contactless PoS terminal accepts all kinds of contactless payments including payments through contactless chip cards and NFC equipment enabled with payment authorization. The product exists at a PoS with myriad kernel applications aided through network payments. Moreover, contactless PoS terminal applications aid two transaction modes including EMV Co Standard and MSD. Furthermore, these terminal transactions accept payment through Visa, Rupay, American Express, Mastercard, and Verve. Furthermore, the contactless PoS terminal is connected as a peripheral to the Point of Sale and then business transactions are carried out.

Contactless PoS Terminal Market: Growth Dynamics

Acceptance of new contactless payment methods and the necessity of fast cashless transactions will support market growth. The rise in the occurrence of COVID cases across the globe has increased the use of contactless financial transactions, thereby creating new horizons of growth for the contactless PoS Terminal industry. Apart from this, a prominent increase in the number of purchases and need to save time from standing in long queues will steer the expansion of the contactless PoS Terminal market over the estimated timeframe.

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Furthermore, the surge in the number of smartphones and iPhones will proliferate the market size in the years to come. The need for cashless payments and convenient payment modes along with the necessity of minimizing transaction errors will propagate the expansion in the years ahead. However, huge initial product deployment costs and the slowing of bank servers are a few of the issues that can retard the industry's growth in the years ahead.

Contactless PoS Terminal Market: Report Scope

Europe To Make Lucrative Contributions Toward Overall Market Share By 2032

The expansion of the contactless PoS terminal industry in Europe over 2020-2026 is owing to a rise in the use of cashless payments through Maestro & Master cards. The rise in the credit and debit card financial deals in the countries such as France and UK will further create lucrative growth avenues for the contactless PoS Terminal industry in the continent over the upcoming years. The surge in smartphones along with their integration with reputed mobile payment applications in the continent will further drive the regional market size within the next couple of years. The rise in COVID cases has enhanced the popularity of contactless payments mode in the continent, thereby expanding the scope of business in Europe.

Key players profiled in the study include

• Cisco Systems, Inc.,
• Samsung Electronics Co. Ltd,
• Cegid Group, Ingenico S.A.,
• MICROS Systems, Inc.,
• Hewlett Packard Company,
• Verifone Systems Inc.,
• NEC Corporation,
• Panasonic Corporation
• Toshiba Corporation.

The global Contactless PoS Terminal Market is segmented as follows:

By Technology  

• Bluetooth
• Wi-Fi
• Infrared
• Carrier-Based

By Payment Method

• Account-Based
• Smart Card
• Credit/Debit Card
• Stored Value

By Device

• Integrated POS
• PDA
• mPOS
• Contactless Reader
• Unattended Terminal

By End-User

• Retail
• Banking
• Healthcare
• Government
• Transportation

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of the Middle East & Africa