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North America POS Terminals Market Size, By Technology (Biometric, Traditional), By Operating System (Windows, Linux, MAC), By Product (Mobile, Fixed), By Component (Hardware, Software, Service), By Application (Restaurants, Hospitality, Healthcare, Retail, Warehouse/Distribution, Entertainment), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026

Published Date: November 2020 | Publisher: Graphical Research Report ID: GR1525 | Delivery : PDF

North America POS Terminals Market size was around USD 20 billion in 2019 and is expected to grow at a CAGR of 9% from 2020 to 2026.
 

North America POS Terminals Market Size, By Country

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Increasing usage of digital payment methods by consumers across various sectors, such as hospitality, retail, and healthcare, is boosting the POS terminals market growth. The rising smartphone penetration is supporting the use of digital payment methods for a hassle-free and quicker checkout at payment counters. According to the Internet Innovation Alliance, the number of smartphone users in the U.S. is projected to reach over 270 million by 2022. The adoption of NFC-based payment techniques using mobile wallets in smartphones will accelerate the digital payments market in the country, thereby influencing the POS terminals industry.

The ongoing coronavirus (COVID-19) pandemic is positively impacting the market demand for contactless POS terminals. Stringent government guidelines and customer awareness to prevent the spread of the virus through cash handling are propelling the market growth. Among the U.S. consumers, around 19% made a digital payment in a store for the first time since May 2020. Around 62% of the consumers used their phones while 56% used contactless cards for payment. Growth in the contactless payments industry will drive the POS terminals market growth. The reopening of restaurants and retail shops following the relaxations in lockdowns imposed will further propel market growth.

Enhanced portability and compactness of mobile POS terminals will drive their market growth. Restaurants use these systems to carry the terminals to the customer’s table, which ensure their comfort and convenience. This also enables restaurant owners to avoid long queues at the payment counter, in turn, improving customer satisfaction, streamline operations, upgrade productivity, and maximize profitability. The growing quick-service restaurant sector in the U.S. will boost the demand for mobile POS terminals that enable them to save transaction time and speed up operations.

Reliability, ease-of-use, and increased security offered by Windows operating systems will boost the POS terminals market growth. Windows 10 includes access protection including user account control, digital certificates, secure/internet mail extensions, and Windows Firewall with Advanced Security. As Windows is one of the most popular operating systems used globally, it saves time spent on training the staff. As Windows 10 is multilingual, it offers enhanced flexibility to business owners aiming to expand their operations internationally.

The expanding hospitality industry in the U.S. will provide growth opportunities to the POS terminals market. According to the U.S. Department of Commerce Projection, the U.S. will host 95.5 million international visitors annually by 2023. As international tourists prefer universally accepted card-based payments to avoid the hassle of currency conversion, the POS terminals industry will witness growth. The developing hospitality industry in the region is focusing on enhancing customer satisfaction and convenience, boosting the adoption of POS systems.

The key market players operating in the industry include AURES Group, Hewlett Packard Enterprise, Ingenico Group, Verifone Systems, Inc., NCR Corporation, Micros Retail Systems, Inc., PAR Technology, Inc., and Square Inc. Players are focusing on strategic collaborations to launch new products and strengthen their industry presence. For instance, in June 2020, PAR Technology Corporation announced that Ordermark, a single dashboard solution to manage all online ordering, is joining its Brink POS integration ecosystem. Through this partnership, Brink customers can seamlessly manage all third-party delivery partners through one system that takes orders from various online ordering services and routes the orders to a single thermal printer or POS in their kitchens.
 

Frequently Asked Question(FAQ) :

The market size of North America POS Terminals was valued USD 20 billion in 2019.
Segmental analysis of market done on basis of Product, Technology & Application.
Increasing usage of digital payment methods by consumers across various sectors, such as hospitality, retail, and healthcare, is boosting the POS terminals market growth.

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North America POS Terminals Market Size & Statistics 2020-2026


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