Jan 19, 2023

According to the report, "Wireless POS Terminal Market," the wireless POS terminal market was valued at $7.9 billion in 2021, and is estimated to reach $24.8 billion by 2031, growing at a CAGR of 12.5% from 2022 to 2031. The functionality of a wireless point of sale device is identical to that of a wired terminal, with the additional ability to collect payments in unconventional places. A wireless POS system has several advantages. With a wireless terminal, users can go to the customer and complete the transaction at their place. This is an ideal choice for restaurants, cafes, delivery businesses, and coffee shops. One of the major factors driving the need for wireless POS systems amongst businesses is to reduce billing errors. Moreover, with the growing demand for efficiency among SMEs and their increasing sales, there is a surge in need for computing systems, such as POS systems, amongst the business owners that can help drive the sales. However, high integration costs and security risks associated with the wireless POS terminal is restraining the growth of the market. On the contrary, the increasing adoption of wireless POS terminal in the hospitality industry expected to fuel the market growth in upcoming years. In addition, the growing advancement of technologies in wireless POS terminal market is expected to create lucrative opportunities for the market to grow during forecast period. The wireless POS terminal is segmented into component, type, application, industry vertical, and region. By component, the market is differentiated into hardware, software and services. The software is further bifurcated into on-premise and cloud. The services segment is further divided into professional services and managed services. The professional services segment is further segregated into system implementation & integration, support & maintenance, and training & consulting. Depending on deployment mode, it is fragmented into on-premise and cloud. By type, it is categorized into portable countertop & PIN pad, mPOS, smart POS and others. The application segment is classified into front end and back end. By industry vertical, it is segmented into retail, hospitality, healthcare, entertainment, transportation, and others. The hospitality is further segregated into full-service restaurant (FSR), quick service restaurant (QSR), institutional FSR and others. The full-service restaurant (FSR) is further divided into fine dine and casual dine. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. KEY BENEFITS FOR STAKEHOLDERS The study provides an in-depth analysis of the global wireless POS terminal along with the current trends and future estimations to illustrate the imminent investment pockets. Information about key drivers, restrains, & opportunities and their impact analysis on the global wireless POS terminal size are provided in the report. The Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry. The quantitative analysis of the global wireless POS terminal from 2022 to 2031 is provided to determine the market potential. Key Market Segments mPOS