Point-of-sale device (POS) shipments are forecast to reach 270 million units by 2025, with a compound annual growth rate (CAGR) of 19 percent.
China is the leading global POS market capturing half of it, followed by Latin America and Europe. India will become the fastest-growing market (+38 per cent CAGR) driven by the digital transformation of retail and rising consumer preference for online transactions, according to Counterpoint Research.
Retail, hospitality and healthcare industries are the top applications for the POS market.
Chinese players are dominating the global POS market with 8 of the top 10 vendors hailing from China.
The rising use of POS terminals in the transportation, government, education, banking and ride-hailing sectors is expected to open new application areas. Data security concerns, high maintenance costs and checkout-free offline retail model will be major challenges for the POS market.
