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    Europe POS Terminals Market Size, By Product (Mobile, Fixed), By Component (Hardware, Software, Service), By Technology (Biometric, Traditional), By Operating System (Windows, Linux, MAC), 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   |   Report ID: GR1531   |   Delivery: PDF  Request Free Sample

    Europe POS Terminals Market share was over USD 15 billion in 2019 and is expected to grow at a CAGR of 10% from 2020 to 2026.

    Europe POS Terminals Market

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    The market will witness growth due to the rise in the number of smart card users. In 2019, Mastercard and Visa accounted for the majority of electronic payment transactions. People prefer using card-based payments over traditional cash-based techniques to keep a precise record of transactions while eliminating the need to carry heavy wallets. Enhanced security offered by digital transactions due to end-to-end encryption will further aid in the market growth.

    The ongoing coronavirus (COVID-19) pandemic has propelled the adoption of contactless payment technology, in turn, boosting the adoption of POS terminals. For instance, in March 2020, there was a considerable rise in the use of contactless payments in Germany supported by a government initiative that doubled the contactless transaction limit to USD 59 (EUR 50). People are using these techniques to prevent the virus spread through direct cash handling. Health concerns associated with the spread of the disease through cash transactions will boost contactless payment adoption, in turn, supporting the POS terminals industry growth.

    The integration of advanced technologies in POS terminals will enhance their functionalities and fuel the POS hardware industry growth. For instance, in July 2019, Pundi X, a provider of blockchain-powered devices, integrated the support of its XPOS module on Verifone’s X990 POS terminal, enabling retailers to accept payments in cryptocurrencies. With this integration, retailers can process cryptocurrency payments with traditional transactions. Similarly, in April 2019, NCR Corporation launched its POS solution that integrates payment processing with Samsung designed Quantum tablets. The product streamlines the complete payment process for small businesses, simplifying the setup, and offering related transaction data to owners, thus enabling them to improve customer engagement.

    The growing popularity of biometric POS terminals that ensure enhanced payment security will propel market growth. Biometrics technology has gained traction in the security & identification industry due to enhanced authentication security offered by the technology. The integration of biometrics in POS systems will enable employees to access the system without entering passwords. This ensures that the system is accessed only by authorized personnel. The secured performance of smart card transactions along with payment solutions enabled by real-time and biometric will drive demand for contactless payments. Prominent companies offering biometric cards in the region are Thales Group, IDEMIA, and Ingenico Group SA.

    The expanding retail industry in the region will surge the adoption of POS terminals as retailers adopt advanced techniques to ensure customer convenience. The UK retail sales witnessed a 3.4% increase in 2019 compared to 2018. There were around 306,665 retail outlets in the country in 2019. The robust retail sector will provide strong growth opportunities to the POS terminals market growth. In several European markets including Netherlands, Poland, Greece, Croatia, Russia, and Denmark contactless in-store transactions are above 50%. Retailers incorporate POS systems to ensure fast transactions and streamline operations by busting long customer queues at payment counters.

    Key players in the European market include Micros Retail Systems, Toshiba Corporation, Hewlett Packard Enterprise, Verifone Holdings, Inc., NCR Corporation, Ingenico Group, Inc., PAX Technology, Samsung Electronics Co., Ltd., and Diebold Nixdorf Incorporated. Players are focusing on product launches to strengthen their market position, expand their product portfolio and cater to the growing demand for advanced POS terminals.

    Frequently Asked Question(FAQ) :

    How much did the Europe POS Terminals Market size account for in 2019?
    The market size of Europe POS Terminals was valued over USD 15 billion in 2019.
    How much growth will the Europe POS Terminals share witness during the forecast timeframe?
    The industry share of Europe POS Terminals is projected to expand at 10% CAGR during 2020 to 2026.
    What impact has the COVID19 pandemic has made on market?
    The ongoing coronavirus (COVID-19) pandemic has propelled the adoption of contactless payment technology, in turn, boosting the adoption of POS terminals.

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