Wireless POS Terminal Market: Important Drivers, Restraints, and Opportunities | $24.8 Billion by 2031
— Allied Market Research
NEW CASTLE, WILMINGTON, UNITED STATES, October 23, 2023 /EINPresswire.com/ — Technological advancements in the wireless POS terminals such as inclusion of machine learning (ML) and automation serve as potential opportunities for the expansion of the global wireless POS terminal market. Moreover, the growth of wireless POS terminal systems during the pandemic had enabled the interaction of customer relationship management (CRM) as well as other financial solutions for organizations. Based on region, Asia-Pacific held the largest share in 2021.
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According to the report published by Allied Market Research, the global wireless POS terminal market garnered $7.9 billion in 2021, and is estimated to generate $24.8 billion by 2031, manifesting a CAGR of 12.5% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
The outbreak of the COVID-19 pandemic had a positive impact on the growth of the global wireless POS terminal market, owing to surge in preference for cashless transactions.
The growth of wireless POS terminal systems during the pandemic had enabled the interaction of customer relationship management (CRM) as well as other financial solutions for organizations. This enabled businesses to use wireless POS terminal transaction data for business intelligence.
Furthermore, the growth of digital payment industry during the pandemic has propelled the growth of wireless POS terminals market.
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The research provides detailed segmentation of the global wireless POS terminal market based on component, type, application, industry vertical, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on component, the hardware segment held the highest share in 2021, accounting for more than half of the global wireless POS terminal market, and is expected to continue its leadership status during the forecast period. However, the software segment is expected to register the highest CAGR of 15.3% from 2022 to 2031.
Based on application, the front end segment accounted for the highest share in 2021, contributing to nearly three-fourths of the global wireless POS terminal market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the back end segment is expected to manifest the highest CAGR of 14.6% from 2022 to 2031.
Based on industry vertical, the retail segment accounted for the highest share in 2021, holding around two-fifths of the global wireless POS terminal market, and is expected to continue its leadership status during the forecast period. However, the transportation segment is estimated to grow at the highest CAGR of 18.4% during the forecast period.
Based on region, Asia-Pacific held the largest share in 2021, contributing to more than one-third of the total wireless POS terminal market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the same region is expected to manifest the fastest CAGR of 15.4% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.
Leading market players of the global wireless POS terminal market analyzed in the research include Aures Group, Diebold Nixdorf, Incorporated, Hewlett Packard Enterprise Development LP.
The report provides a detailed analysis of these key players of the global wireless POS terminal market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
KEY BENEFITS FOR STAKEHOLDERS
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the wireless POS terminal market forecast from 2021 to 2031 to identify prevailing wireless POS terminal market opportunity.
In addition to the market research, important drivers, restraints, and opportunities are covered as well.
Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the wireless POS terminal market segmentation assists in determining the prevailing market opportunities.
According to their contribution to global market revenue, the major countries in each region are mapped.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global wireless POS terminal market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segment:
Portable Countertop and PIN Pad
Full-service Restaurant (FSR)
Quick Service Restaurant (QSR)
North America (U.S., Canada)
Europe (UK, Germany, France, Italy, Spain, Netherlands, Rest Of Europe)
Asia-Pacific (China, Japan, India, Australia, South Korea, Singapore, Rest Of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)
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Article originally published on www.einpresswire.com as Wireless POS Terminal Market: Important Drivers, Restraints, and Opportunities