Global POS terminal market revenue of $20.34 billion in 2018. By 2025, the global POS (Point Of Sale) terminal market is expected to reach $108.46 billion.
In addition to payment processing, the current POS machine has a growing demand for other functions, such as inventory management, CRM, staff scheduling and reporting, which will help drive the market for point of sale system. The development of POS terminals provides greater flexibility, control and intelligence for large enterprises and small businesses than ever before.
In addition, POS terminals that can be portable like mobile phones are becoming more and more popular in restaurants, retail, queues, hotels, etc. Handheld POS machines will be the future trend.
Available POS terminal
In the market, there are currently three types of POS terminals available for purchase, including fixed, wireless and mobile systems. In 2016, fixed terminals were the most popular among consumers. In 2019, the demand for wireless and mobile terminals continued to rise. For example, Tcang’s T1 handheld POS machine and the upcoming D1 11.6 inch mobile POS terminal.
The demand for POS devices in different industries is growing. Industries such as retail, hospitality, hospitals, restaurants, warehousing and distribution services are now adopting a range of different payment options, requiring more diverse, secure and manageable POS terminals.
In particular, the widespread implementation of POS machines in the retail and restaurant sectors generally has a major impact on the requirements of small businesses for user-friendly and cost-effective payment systems, as demand for POS terminals continues to change.
Finally, the growing demand for multi-function POS terminals has also contributed to the expansion of the market. Currently, the market offers a range of static and portable POS systems, and touch technology enables a variety of functions and more efficient use. Tcang has been developing, designing and manufacturing POS hardware technology in leading industries, which not only requires the appearance of POS machines to be more fashionable, but also ensures the payment security of users.