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Global Virtual Payment (POS) Terminals Market: By Platform: Software, Service; By Application: Retail, Warehouse, Hospitality, Consumer Electronics, Food & Beverage, Health Care, Entertainment, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Virtual Payment (POS) Terminals Market Outlook
The global virtual payment (POS) terminals market attained a value of USD 9.2 billion in 2020. The industry is further expected to grow in the forecast period of 2023-2028 at a CAGR of 30% to reach USD 45 billion by 2026. The industry is primarily being driven by the rising urbanisation globally.
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Market Segmentation
A virtual POS (Point of Sale) refers to a web or windows application which can be used to authorize card transactions by card-acceptor traders manually. Most providers of payment services have this kind of versatility.
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Based on the platform, the industry can be divided into:
- Software
- Service
Software can be further divided into device based and web based.
The industry can be broadly categorised on the basis of its applications into:
- Retail
- Warehouse
- Hospitality
- Consumer Electronics
- Food and Beverage
- Health Care
- Entertainment
- Others
The EMR report looks into the regional markets of virtual payment (POS) terminals like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
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Market Analysis
The market is being driven by the proliferation of Near Field Communications (NFC) devices in the industrial ecosystem and the increasing demand for contactless payments. The increasing demand for these terminals in the next couple of years is expected to rise investments in technology like end-to-end encryption for safe payment solutions and consumer convenience. Because of the increased mobile penetration, large companies in the business are concentrating more on technology advancements. These factors are expected to drive the growth of the virtual payment (POS) terminals industry.
Competitive Landscape
The report presents a detailed analysis of the following key players in the global virtual payment (POS) terminals market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Cisco Systems, Inc. (NASDAQ: CSCO)
- Fujian Newland Payment Technology Co., Ltd.
- Ingenico Group
- NCR Corporation
- NEC Corporation
- PAX Technology
- Samsung Electronics Co., Ltd.
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Platform, Application, Region |
| Breakup by Platform | Software, Service |
| Breakup by Application | Retail, Warehouse, Hospitality, Consumer Electronics, Food & Beverage, Health Care, Entertainment, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Cisco Systems, Inc. (NASDAQ: CSCO), Fujian Newland Payment Technology Co., Ltd., Ingenico Group (EPA: ING), NCR Corporation (NYSE: NCR), NEC Corporation (TYO: 6701), PAX Technology, Samsung Electronics Co., Ltd., Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Virtual Payment (POS) Terminals Market Analysis
8.1 Key Industry Highlights
8.2 Global Virtual Payment (POS) Terminals Historical Market (2018-2022)
8.3 Global Virtual Payment (POS) Terminals Market Forecast (2023-2028)
8.4 Global Virtual Payment (POS) Terminals Market by Platform
8.4.1 Software
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.1.4 Break up by Type
8.4.1.4.1 Device Based
8.4.1.4.2 Web Based
8.4.2 Service
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.5 Global Virtual Payment (POS) Terminals Market by Application
8.5.1 Retail
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Warehouse
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 Hospitality
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 Consumer Electronics
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Food & Beverage
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2022)
8.5.5.3 Forecast Trend (2023-2028)
8.5.6 Health Care
8.5.6.1 Market Share
8.5.6.2 Historical Trend (2018-2022)
8.5.6.3 Forecast Trend (2023-2028)
8.5.7 Entertainment
8.5.7.1 Market Share
8.5.7.2 Historical Trend (2018-2022)
8.5.7.3 Forecast Trend (2023-2028)
8.5.8 Others
8.6 Global Virtual Payment (POS) Terminals Market by Region
8.6.1 Market Share
8.6.1.1 North America
8.6.1.2 Europe
8.6.1.3 Asia Pacific
8.6.1.4 Latin America
8.6.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 INGENICO Group S.A.
11.2.1.1 Company Overview
11.2.1.2 Product Portfolio
11.2.1.3 Demographic Reach and Achievements
11.2.1.4 Certifications
11.2.2 NCR Corporation
11.2.2.1 Company Overview
11.2.2.2 Product Portfolio
11.2.2.3 Demographic Reach and Achievements
11.2.2.4 Certifications
11.2.3 NEC Corporation
11.2.3.1 Company Overview
11.2.3.2 Product Portfolio
11.2.3.3 Demographic Reach and Achievements
11.2.3.4 Certifications
11.2.4 PAX Technology
11.2.4.1 Company Overview
11.2.4.2 Product Portfolio
11.2.4.3 Demographic Reach and Achievements
11.2.4.4 Certifications
11.2.5 Samsung Electronics Co., Ltd.
11.2.5.1 Company Overview
11.2.5.2 Product Portfolio
11.2.5.3 Demographic Reach and Achievements
11.2.5.4 Certifications
11.2.6 VeriFone, Inc.
11.2.6.1 Company Overview
11.2.6.2 Product Portfolio
11.2.6.3 Demographic Reach and Achievements
11.2.6.4 Certifications
11.2.7 Others
12 Industry Events and Developments
List of Key Figures and Tables
1. Global Virtual Payment (POS) Terminals Market: Key Industry Highlights, 2017 and 2021
2. Global Virtual Payment (POS) Terminals Historical Market: Breakup by Platform (USD Million), 2018-2022
3. Global Virtual Payment (POS) Terminals Market Forecast: Breakup by Platform (USD Million), 2023-2028
4. Global Virtual Payment (POS) Terminals Historical Market: Breakup by Application (USD Million), 2018-2022
5. Global Virtual Payment (POS) Terminals Market Forecast: Breakup by Application (USD Million), 2023-2028
6. Global Virtual Payment (POS) Terminals Historical Market: Breakup by Region (USD Million), 2018-2022
7. Global Virtual Payment (POS) Terminals Market Forecast: Breakup by Region (USD Million), 2023-2028
8. North America Virtual Payment (POS) Terminals Historical Market: Breakup by Country (USD Million), 2018-2022
9. North America Virtual Payment (POS) Terminals Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Europe Virtual Payment (POS) Terminals Historical Market: Breakup by Country (USD Million), 2018-2022
11. Europe Virtual Payment (POS) Terminals Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Asia Pacific Virtual Payment (POS) Terminals Historical Market: Breakup by Country (USD Million), 2018-2022
13. Asia Pacific Virtual Payment (POS) Terminals Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Latin America Virtual Payment (POS) Terminals Historical Market: Breakup by Country (USD Million), 2018-2022
15. Latin America Virtual Payment (POS) Terminals Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Middle East and Africa Virtual Payment (POS) Terminals Historical Market: Breakup by Country (USD Million), 2018-2022
17. Middle East and Africa Virtual Payment (POS) Terminals Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Global Virtual Payment (POS) Terminals Market Structure
Key Questions Answered in the Report
The global virtual payment (POS) terminals market reached a value of USD 9.2 billion in 2020.
The market is projected to grow at a CAGR of nearly 30% in the forecast period of 2023-2028.
The market is estimated to reach a value of about USD 45 billion by 2026.
The major drivers of the industry include the rising disposable incomes, increasing population, rising urbanisation, and the increasing demand for contactless payments.
The growth of Near Field Communications (NFC) devices in the industrial ecosystem is expected to be a key trend guiding the growth of the industry.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the leading regions in the market.
The leading platforms of virtual payment (POS) terminals in the industry are software and service. The software segment can be further divided into device based and web based.
The significant application segments of the industry are retail, warehouse, hospitality, consumer electronics, food and beverage, health care, and entertainment, among others.
The leading players in the market are Cisco Systems, Inc., Fujian Newland Payment Technology Co., Ltd., Ingenico Group, NCR Corporation, NEC Corporation, PAX Technology, and Samsung Electronics Co., Ltd., among others.
Analyst Review
The global virtual payment (POS) terminals market attained a value of USD 9.2 billion in 2020, driven by the growing urbanisation. Aided by the rising investments into technologies like end-to-end encryption for safe payment solutions and consumer convenience, the industry is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 30%. The industry is projected to reach USD 45 billion by 2026.
EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on platform, the market can be segmented into platforms include software (device based and web based) and service. On the basis of application, the industry can be divided into retail, warehouse, hospitality, consumer electronics, food and beverage, health care, and entertainment, among others. The major regional markets of virtual payment (POS) terminals are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above industry include Cisco Systems, Inc., Fujian Newland Payment Technology Co., Ltd., Ingenico Group, NCR Corporation, NEC Corporation, PAX Technology, and Samsung Electronics Co., Ltd., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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