Global POS terminal market revenue of $20.34 billion in 2018. By 2025, the global POS (Point Of Sale) terminal market is expected to reach $108.46 billion.
In addition to payment processing, the current POS machine has a growing demand for other functions, such as inventory management, CRM, staff scheduling and reporting, which will help drive the market for point of sale system. The development of POS terminals provides greater flexibility, control and intelligence for large enterprises and small businesses than ever before.

As we head into 2024, the competition in the Point of Sale (POS) machine market is intensifying, driven by evolving consumer behaviors and technological advancements. Businesses are increasingly seeking innovative solutions that enhance the customer experience and streamline operations.

Several factors are fueling this competitive landscape. Firstly, the rise of e-commerce has prompted traditional brick-and-mortar retailers to adopt more sophisticated POS systems that integrate seamlessly with online platforms. This demand for omnichannel solutions encourages providers to innovate continuously. Here are some critical points to consider:

Technological Advancements: The integration of AI and machine learning into POS systems is transforming how businesses analyze customer data and optimize operations, making advanced technology a crucial selling point.

Mobile and Contactless Payments: With consumers favoring convenience, the demand for mobile payment solutions and contactless transactions is surging. POS systems that support these features will attract more businesses looking to enhance customer experience.

Available POS Terminals
There are currently three types of POS terminals available for purchase in the market, including fixed, wireless, and mobile systems. In previous years, fixed terminals were the most popular with consumers. Now, the demand for wireless and mobile terminals continues to rise. For example, Tcang’s T1 handheld POS machine and the upcoming D1 11.6-inch mobile POS terminal.

 

Industry demand
The demand for POS devices in different industries is growing. Industries such as retail, hospitality, hospitals, restaurants, warehousing and distribution services are now adopting a range of different payment options, requiring more diverse, secure and manageable POS terminals.
In particular, the widespread implementation of POS machines in the retail and restaurant sectors generally has a major impact on the requirements of small businesses for user-friendly and cost-effective payment systems, as demand for POS terminals continues to change.

Increased Functionalities
Finally, the growing demand for multi-function POS terminals has also contributed to the expansion of the market. Currently, the market offers a range of static and portable POS systems, and touch technology enables a variety of functions and more efficient use. Tcang has been developing, designing and manufacturing POS hardware technology in leading industries, which not only requires the appearance of POS machines to be more fashionable, but also ensures the payment security of users.