Handheld Point of Sales (POS) Market (Updated Version Available)

Handheld Point of Sales (POS) Market Size, Share & Trends Analysis, By Component (Hardware and Software), End-User (Retail, Restaurants, Media & Entertainment, Healthcare, and Others), By Region, Forecast Period 2023-2030.

Report ID : RI_673872 | Date : May 2023 | Format : ms word ms Excel PPT PDF

This Report Includes The Most Up-To-Date Market Figures, Statistics & Data
Key Market Overview:

Handheld Point of Sales (POS) Market was valued at USD 2.64 Billion in 2022 and is expected to grow at a CAGR of 10.6% and is projected to reach USD 5.81 Billion by 2030.

A handheld point of sales (POS) or mobile point of sales is an electronic device used to process electronic payments remotely, particularly in retail settings. The device reads the information from a customer\'s debit or credit card, checks available funds, and transfers funds from the customer\'s account to the seller\'s account. In addition, the device also records the transaction and prints a receipt for the convenience of the customer and the seller. Furthermore, POS technology combines both software and hardware to complete the transaction by using wireless connectivity including Wi-Fi, Bluetooth, or cellular data.

The increasing adoption of handheld POS devices to offer convenience and flexibility in comparison to traditional POS systems is a key factor responsible for the growth of the market. The devices are deployed in a vast variety of settings including retail shops, food trucks, and outdoor events to accept payments remotely with an internet connection. Additionally, handheld devices offer convenience to sales associates to move around the store, without being tethered to a stationary POS terminal. Consequently, the increasing adoption of handheld POS devices to provide flexibility and convenience to the user in a variety of settings is driving the growth of the market. For instance, in November 2022, SumUp introduced POS Lite, a new mobile point of sales device in Europe. The devices provide businesses with an affordable and convenient solution to transfer funds and is widely used in coffee shops, large restaurants, and stadiums.

Handheld Point of Sales (POS) Report Coverage:

Report AttributesReport Details
Study Timeline2017-2030
Market Size in 2030 (USD Billion)USD 5.81 Billion
CAGR (2023-2030)10.6 %
Base Year2022
By ComponentHardware and Software
By End-UserRetail, Restaurants, Media & Entertainment, Healthcare, and Others
By Geography
  • Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]

  • Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey]

  • North America [United States, Canada, Mexico]

  • Middle East & Africa [GCC, North Africa, South Africa]

  • South America [Brazil, Argentina, Columbia, Chile, Peru]
Key PlayersNCR Corporation, Oracle Corporation, Adyen, CommentSold., HP Development Company, L.P., Openbravo S.L.U., SumUp Inc., Toast, Inc., VMware, Inc., XTM INC.


Request Sample


Market Dynamics:

Driver:

The increasing penetration of mobile payment technologies including Apple Pay, Google Pay, and Google Wallet are one of the key factors responsible for driving the growth of the handheld point of sales market. The growing penetration of digital payment technologies raises the demand for efficient and flexible payment solutions to accept and process payments. Handheld POS devices support a wide range of payment options, including mobile payments, credit and debit cards, and contactless payments giving customers the flexibility to pay using the preferred method. In conclusion, with the increasing permeation of digital technologies the demand for effective point of sales devices has also increased which in turn is propelling the growth of the market. For instance, in June 2022, Ingenico and BharatPe collaborated to offer advanced point of sales solutions to Indian merchants. The partnership is considered a strategic decision by Ingenico to expand the portfolio in the POS market by offering convenient, efficient, and cost-effective solutions to Indian merchants.

Restraint:

The unavailability of high-speed internet connection in underdeveloped countries including Africa serves as a key restraint for the growth of the handheld point of the sales market. POS devices rely heavily on a smooth internet connection to process payments in real time and the unavailability of required data speed limits the adoption of POS devices. Additionally, the payments are processed remotely using a cloud-based platform that raises security concerns regarding the customer\'s sensitive payment information. Furthermore, any breach of security norms leads to serious consequences for both the business and the customers, leading to financial loss and damage to the reputation. In conclusion, the aforementioned factors including the unavailability of the internet and security concerns are the major restraints, impeding the growth of the global point of sales market.

Opportunities:

The integration of advanced technologies, namely Artificial Intelligence (AI) and Machine Learning (ML) with handheld point-of-sale devices is predicted to create several potential opportunities for the growth of the market. Advanced technologies collect data based on consumer preferences, inventory levels, and other important metrics. The data collected is expected to improve business operations and allow businesses to take data-driven decisions by launching various offers and promotions to customers. Consequently, the emergence of advanced technology to provide real-time data insights on inventory levels is anticipated to create opportunities for the growth of the market.

Handheld Point of Sales (POS) Market Segmentation:

img-global-handheld-point-of-sales-pos-market-statistical-analysis



By Component

The component segment is divided into hardware and software. The hardware sector accounted for the largest market share in 2022 in the handheld point of sales market. The growth is attributed to the widespread adoption of hardware devices including barcode scanners in shopping malls, restaurants, and retail shops. Additionally, the hardware devices are more compatible with other POS devices and accessories namely card readers and cash drawers, further promoting the growth of the hardware sector. Moreover, hardware devices also offer better functionality and have physical buttons and larger screens to navigate through the system and process transactions. Subsequently, the ability of hardware devices to offer improved functionality, compatibility, and convenience in various settings is bolstering the growth of the market. For instance, in September 2022, Shopify introduced POS Go hardware to enhance the shopping experience of users by felicitating smooth and secure transactions. The launch of a new barcode scanner encompasses a fully integrated card reader to offer convenience to user thereby, driving the growth of handheld POS market.

Software sector is projected to witness the fastest CAGR owing to the increasing adoption of digital payments that raises the demand for advanced software to process the transactions. Additionally, the emergence of cloud-based software is also propelling the market growth by allowing businesses to store and access data remotely with an internet connection. Moreover, the software also offers customization to businesses to tailor the system to meet unique requirements resulting in a more effective and efficient sales process. The aforementioned factors including adoption of digital payments, cloud-based software, and improved customization are the key factors responsible for driving the growth of the software sector in upcoming years.

By End-User

The end-user segment is classified into retail, restaurants, media & entertainment, healthcare, and others. The retail sector accounted for the largest market share in 2022 due to the growing trend toward digital operations that increases the demand for advanced POS systems. POS devices handle online sales and integrate with other digital platforms including digital wallet cards, PayPal, and Venmo QR Codes. Additionally, the devices also aid in managing inventory, sales, reporting, and payments remotely with an internet connection on a single platform. In brief, the abovementioned factors are collectively responsible for fueling the growth of the handheld point of sales market in the retail sector. For instance, in October 2021, PayPal launched the Zettle Terminal to provide increased mobility to retailers. The device functions with numerous digital platforms namely digital wallets, cards, and QR codes thus, contributing in boosting the growth of the market.

The restaurant segment is anticipated to register the fastest CAGR in the handheld POS market during the forecast period. The emergence of cloud-based POS systems increases the operational efficiency and speed of transactions in restaurants. Additionally, the devices also support a variety of payment and delivery options, offer customization, and allow restaurants to integrate online ordering solutions. The ability of cloud-based POS devices to improve efficiency, offer customization, and enhance the user experience are the key factors that are expected to drive market growth in upcoming years. For instance, in June 2022, Openbravo launched an advanced quick-service POS system in response to the demands of QSR (Quick Service Restaurant) and fast-casual restaurant chains. The new cloud-based solution offers customization to users and integrates features including online ordering solutions, delivery platforms, and kitchen systems.

By Region:

North America accounted for the largest revenue share in 2022 owing to the increasing number of food outlets and restaurants in the region. The surge in the number of restaurants in the region raises the demand for handheld POS devices to accept digital payments securely and efficiently. Consequently, restaurant owners are increasingly opting for POS devices to enable a smooth transaction, thus bolstering the growth of the market. For instance, in February 2023, according to the NPD Group, Inc. the U.S. restaurant count grew by 18,000 in comparison to 2022. Additionally, the restaurants visits by individuals for breakfast increased by 13% in January 2023 as compared to the previous year. The increase in the number of restaurants raises the demand for advanced POS, further promoting the growth of market in the North America.

img-report



Asia Pacific is anticipated to witness the fastest CAGR during the forecast period owing to the growth of e-commerce sector in the region. Additionally, with the proliferation of businesses operating online, the demand for point-of-sale (POS) systems that integrate both online and offline sales channels have also increased. For instance, in June 2021, according to Reserve Bank of India more than 4.7 million PoS terminals were installed in India. PoS terminals witnessed stable growth in numerous sectors including gas and fuel stations, restaurants, and grocery shops. Additionally, the government is also promoting the growth of digital payments in the country that further promotes the growth of handheld POS market.

Handheld Point of Sales (POS) Competitive Landscape:

The market for point of sale (PoS) is highly competitive. The key market players are adopting strategies for mergers and acquisitions, and product innovations to stay competitive in the market. Following are the major market players that comprise the latest market concentration: –

• NCR Corporation
• Oracle Corporation
• Adyen
• CommentSold.
• HP Development Company, L.P.
• Openbravo S.L.U.
• SumUp Inc.
• Toast, Inc.
• VMware, Inc.
• XTM INC.

Recent Developments:

• In January 2023, VMware partnered with Stratodesk to release a new point-of-sale (POS) solution for global retailers. VMwares POS solution extends hardware life cycle beyond 3 to 5 years and helps retailers to integrate the POS systems with business-critical applications to provide a better experience to the customers.

• In March 2022, XTM, Inc. announced that the company has secured integrations of 20 point-of-sale restaurants using time tracking software throughout the United States. The integration of POS systems with time-tracking software is expected to allow XTM to offer payment solutions to a wider range of businesses.
Select License
Single user : $3860   
Multi user : $5460   
Corporate user : $7460   
Buy Now

Secure SSL Encrypted

Immediate Delivery Available
Reports Insights
Why Choose Us
Guaranteed Success

Guaranteed Success

We gather and analyze industry information to generate reports enriched with market data and consumer research that leads you to success.

Gain Instant Access

Gain Instant Access

Without further ado, choose us and get instant access to crucial information to help you make the right decisions.

Best Estimation

Best Estimation

We provide accurate research data with comparatively best prices in the market.

Discover Opportunitiess

Discover Opportunities

With our solutions, you can discover the opportunities and challenges that will come your way in your market domain.

Best Service Assured

Best Service Assured

Buy reports from our executives that best suits your need and helps you stay ahead of the competition.

Customer Testimonials

Reports Insights have understood our exact need and Delivered a solution for our requirements. Our experience with them has been fantastic.

MITSUI KINZOKU, Project Manager

I am completely satisfied with the information given in the report. Report Insights is a value driven company just like us.

Privacy requested, Managing Director

Report of Reports Insight has given us the ability to compete with our competitors, every dollar we spend with Reports Insights is worth every penny Reports Insights have given us a robust solution.

Privacy requested, Development Manager

Select License
Single user : $3860   
Multi user : $5460   
Corporate user : $7460   
Buy Now

Secure SSL Encrypted

Reports Insights
abbott Mitsubishi Corporation Pilot Chemical Company Sunstar Global H Sulphur Louis Vuitton Brother Industries Airboss Defence Group UBS Securities Panasonic Corporation