POS Terminals Market in Retail Sector: Growth, Trends, and Insights (2024-2028)

The POS terminals market in the retail sector is projected to grow by USD 878.4 million between 2024 and 2028, at a CAGR of 4.5%. The increasing adoption of advanced POS systems is driven by the need for efficient inventory management and enhanced security measures. Retailers are implementing cloud-based POS solutions, digital payment initiatives, and customer relationship management (CRM) tools to improve customer interactions and operational efficiency. Additionally, self-service checkout systems are gaining popularity in high-traffic retail environments, streamlining payments and reducing wait times.

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Market Segmentation

Technology

• EMV
• Non-EMV

Product

• Contact
• Contactless

End-User

• Supermarket
• Specialty Store
• Hypermarket
• Gas Stations
• Others

Geography

• APAC

  • China

  • India

  • Japan

• North America

  • US

• Europe

  • Germany

• South America

• Middle East and Africa

Technology Insights

The EMV segment is expected to witness significant growth, driven by the widespread adoption of mPOS terminals. The rise in internet penetration and the growing number of credit card users have accelerated the transition from traditional cash registers to digital payment solutions.

However, mPOS terminals face security challenges, including malware attacks, identity theft, and financial fraud. Hackers exploit techniques such as RAM scraping and keyloggers to steal sensitive information. As a result, retailers are increasingly adopting EMV POS terminals to enhance security and protect against fraud.

Regional Market Trends

APAC (42% Market Share)

• China, India, and Japan are key contributors to the growth of POS terminals in APAC.
• The expansion of supermarkets, specialty stores, and shopping malls is driving the demand for secure and efficient checkout solutions.
• Cloud-based and integrated POS terminals are gaining traction to ensure data security and seamless transactions.
• The growing presence of retail chains and the adoption of self-service electronic cash registers (ECRs) and receipt printers are fueling market growth.

Market Dynamics

Market Drivers

• Enhanced functionality of POS terminals

  • Retailers are implementing advanced POS systems to optimize operations and improve customer experience.
  • Features such as stock management, purchase orders, staff management, and taxation improve efficiency.
  • Cloud-based solutions, contactless payments, and analytics integration enable retailers to make data-driven decisions.

Market Trends

• Increased demand for self-service checkout

  • Self-service kiosks equipped with specialized software and hardware are reducing wait times in retail stores.
  • Contactless payments using smartcards enhance transaction security.
  • The expansion of the self-service market is boosting the adoption of POS terminals in retail, restaurants, healthcare, and hospitality.

Market Challenges

• No fixed merchant bases

  • Retailers frequently switch POS terminal providers due to low switching costs and minimal long-term commitments.
  • Cloud-based POS systems are gaining popularity, offering flexibility and cost efficiency.
  • Companies must innovate continuously to provide secure, integrated payment processing solutions.

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Key Players

• Cybernet Manufacturing Inc.
  • Offers iPOS G45 POS terminal
• BBPOS International Ltd.
• Block Inc.
• Fiserv Inc.
• HP Inc.
• NBS Payment Solutions Inc.
• NCR Voyix Corp.
• NEC Corp.
• New POS Technology Ltd.
• Newland Digital Technology Co. Ltd.
• Oracle Corp.
• PAX Global Technology Ltd.
• Posiflex Technology Inc.
• Qashier Pte Ltd.
• Samsung Electronics Co. Ltd.
• Toshiba Corp.
• Touch Dynamic
• UICPayworld
• VeriFone Inc.
• Worldline SA

Future Insights

The POS terminals market in the retail sector is set for steady growth, with technological advancements enhancing security, efficiency, and customer experience. The increasing demand for cloud-based and self-service POS solutions will shape the future landscape, driving further adoption across various retail segments.