Smart Payment Terminals Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

The Global Smart Payment Terminals Market will witness over 12.5% CAGR from 2024 to 2032, driven by increasing adoption of contactless payment methods, fueled by the need for secure and convenient transactions. Enhanced security features such as encryption and tokenization in smart payment terminals are also contributing to their widespread acceptance.

In April 2024, PAX Technology unveiled the world's inaugural 5G and WiFi 6 upgrade for its SmartPOS devices. This innovation facilitates quicker and more dependable transactions, catering to the demand for swift, stable connections and propelling the uptake of sophisticated payment solutions. The market is witnessing accelerated growth, driven by a surging demand for integrated payment solutions that meld hardware and software functionalities. As businesses strive to streamline operations and deliver fluid payment experiences, the market flourishes.

The smart payment terminals market is segmented by type, technology, connectivity, payment method, end-use industry, and region.

Forecasted to grow robustly through 2032, the portable/mobile terminals segment is gaining traction due to its adaptability across diverse business settings. As businesses aim to elevate customer service and refine payment processes, the capability to transact anywhere-from retail spaces to outdoor venues-has become paramount. A rise in demand for mobile payment solutions and the trend towards mobile transactions significantly bolster interest in these portable devices. Their seamless integration with current systems and the heightened focus on customer convenience further propel this segment's growth.

Projected to secure a significant share of the smart payment terminals market by 2032, the wired connectivity segment is favored for its dependable data transfer. Businesses lean towards wired solutions, valuing their stability and reduced vulnerability to signal interference when juxtaposed with wireless options. This dependability ensures swift and precise transaction processing, vital for operational efficiency and customer satisfaction. Moreover, wired connections frequently come with enhanced security features, addressing data breach and fraud concerns, thus amplifying their adoption.

Driven by a strong push for digital transformation and tech advancements in payment solutions, Europe smart payment terminals market is set to chart a robust growth trajectory through 2032. The European Union's backing for bolstering payment security and ensuring interoperability among member states has spurred the uptake of smart payment terminals. Coupled with a rising consumer inclination towards seamless, contactless payments and a surge in SME embracing advanced payment solutions, these factors are collectively propelling market growth.

Product Code: 10339

Chapter 1 Scope and Methodology

1.1 Market scope and definition
1.2 Base estimates and calculations
1.3 Forecast parameters
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry 360º synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Vendor matrix
3.3 Technology and innovation landscape
3.4 Patent analysis
3.5 Key news and initiatives
3.6 Regulatory landscape
3.7 Impact forces
- 3.7.1 Growth drivers
  - 3.7.1.1 Surge in contactless payment adoption
  - 3.7.1.2 Enhanced security features
  - 3.7.1.3 Convenience and ease associated with contactless payments
  - 3.7.1.4 Shift towards cashless economies
  - 3.7.1.5 Growing e-commerce and mobile commerce
- 3.7.2 Industry pitfalls and challenges
  - 3.7.2.1 High initial costs and investment burden
  - 3.7.2.2 Integration and compatibility issues
3.8 Growth potential analysis
3.9 Porter's analysis
- 3.9.1 Supplier power
- 3.9.2 Buyer power
- 3.9.3 Threat of new entrants
- 3.9.4 Threat of substitutes
- 3.9.5 Industry rivalry
3.10 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Company market share analysis
4.2 Competitive positioning matrix
4.3 Strategic outlook matrix

Chapter 5 Market Estimates and Forecast, By Type, 2021 - 2032 (USD Billion)

5.1 Key trends
5.2 Portable/Mobile Terminals
5.3 Fixed/Countertop Terminals
5.4 PIN Pad Terminals
5.5 mPOS (Mobile Point of Sale) Terminals
5.6 Smart POS Terminals

Chapter 6 Market Estimates and Forecast, By Technology, 2021-2032 (USD Billion)

6.1 Key trends
6.2 EMV Chip and PIN
6.3 Contactless NFC
6.4 Biometric
6.5 QR Code
6.6 Magnetic Stripe

Chapter 7 Market Estimates and Forecast, By Connectivity, 2021-2032 (USD Billion)

7.1 Key trends
7.2 Wired
7.3 Wireless
- 7.3.1 Wi-Fi
- 7.3.2 Bluetooth
- 7.3.3 Cellular

Chapter 8 Market Estimates and Forecast, By Payment Method, 2021-2032 (USD Billion)

8.1 Key trends
8.2 Debit/Credit Cards
8.3 Mobile Wallets
8.4 Cryptocurrencies
8.5 Others

Chapter 9 Market Estimates and Forecast, By End-use Industry, 2021-2032 (USD Billion)

9.1 Key trends
9.2 Retail
9.3 Hospitality
9.4 Healthcare
9.5 Transportation
9.6 Entertainment
9.7 Government
9.8 Others

Chapter 10 Market Estimates and Forecast, By Region, 2021-2032 (USD Billion)

10.1 Key trends
10.2 North America
- 10.2.1 U.S.
- 10.2.2 Canada
10.3 Europe
- 10.3.1 UK
- 10.3.2 Germany
- 10.3.3 France
- 10.3.4 Italy
- 10.3.5 Spain
- 10.3.6 Rest of Europe
10.4 Asia Pacific
- 10.4.1 China
- 10.4.2 India
- 10.4.3 Japan
- 10.4.4 South Korea
- 10.4.5 ANZ
- 10.4.6 Rest of Asia Pacific
10.5 Latin America
- 10.5.1 Brazil
- 10.5.2 Mexico
- 10.5.3 Rest of Latin America
10.6 MEA
- 10.6.1 UAE
- 10.6.2 Saudi Arabia
- 10.6.3 South Africa
- 10.6.4 Rest of MEA

Chapter 11 Company Profiles

11.1 Bitel
11.2 Castles Technology
11.3 Clover Network
11.4 Dejavoo Systems
11.5 Diebold Nixdorf
11.6 Elo Touch Solutions
11.7 Equinox Payments
11.8 Fiserv
11.9 Fujian Newland Payment Technology
11.10 ID Tech
11.11 Ingenico
11.12 Lightspeed POS
11.13 NCR Corporation
11.14 Newland Payment Technology
11.15 Panasonic
11.16 PAX Global Technology
11.17 PayPal
11.18 Shenzhen Xinguodu Technology
11.19 Spire Payments
11.20 Square (Block, Inc.)
11.21 SumUp
11.22 Sunmi
11.23 SZZT Electronics
11.24 Toshiba
11.25 Verifone