Global Wireless POS System Market by Type (Smart POS, Non-smart POS), By Application (Retail, Hospitality, Other Industry) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

The Global Wireless POS System Market size is expected to grow from $2.1 billion in 2018 to $5.6 billion by 2028 at a CAGR of 11.4%. The growth will be driven by the increasing number of mobile transactions and the rising need for connectivity in the retail and hospitality industries. A major driver for this trend is that mobile technology has become an integral part of our daily lives, with many consumers using their smartphones as wallets or credit cards.

Wireless POS System refers to the system that transmits data in a wireless manner, without any physical connection, and uses radio waves. It helps establish an electronic link between two devices or computers over long distances.

On the basis of Types, the market is segmented into Smart POS and Non-smart POS. The market for smart point of sale (POS) systems is expected to grow at a high rate due to the increasing demand from retailers in emerging economies, which will be driven by the increase in disposable income among consumers, as well as favorable regulatory policies that are promoting digitalization.

Smart POS:

A smart point-of-sale terminal is a data processing device that captures and stores various types of information on cash or credit card transactions, including sales amount, date, time, etc. A Smart Point of Sale System is a more modern version where there is greater functionality due to compatibility with Mobile devices as well as eCommerce integration. However, it requires an internet connection in order for these features to work properly which can become problematic if the store doesn't have good connectivity or a power source nearby.

Non-Smart POS:

Non-smart Point of Sale Systems is similar to Smart Points Of Sale except they don't have as many features like eCommerce integration or compatibility with Mobile devices such as smartphones and tablets. They do however provide greater security than other options because it's less likely someone would be able to hack into the system and manipulate transactions.

On the basis of Application, the market is segmented into Retail, Hospitality, and Other Industries. Retail is expected to account for the largest share in 2021 as it will be a popular shopping destination with an increase in online buying activities during holidays such as Black Friday. The hospitality segment accounted for the second-largest contribution owing to its increasing popularity among customers who want 24×365 assistance while traveling across different time zones or even countries through increased use of mobile apps that facilitate the hotel booking process.

Retail Industry:

Wireless POS system is a widely used technology in the retail industry. The use of this technology has increased rapidly over time and it’s still growing at an exponential rate because more retailers are finding its benefits to be worth their investment. Some of these advantages include easy connection with inventory database, ease of data entry for customer transactions, reduced labor cost due to efficient workflows, etc.

Hospitality Industry:

The hospitality industry is the most common user of wireless POS systems. In a hotel, for example, it is typically used to process credit card transactions or in-room dining orders from guests’ rooms. The major reason why hotels use this technology is that they want to ensure that their customers will have an easy and convenient method of payment no matter where they happen to be staying within the hotel property.

This eliminates any additional steps needed which would otherwise inconvenience tourists who often travel with just one carry-on bag on trips lasting days or weeks long. Wireless POS systems also enable staff in charge of customer services such as concierge associates, front desk clerks, and bellhops to access guest information more quickly - giving them time to concentrate on other tasks.

On the basis of Region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The North American market is expected to grow at a lucrative CAGR during the forecast period. The Latin American market is also projected to show considerable growth in the future due to the increasing adoption of retail and hospitality industries.

Europe accounted for significant size in terms of revenue owing to the presence of a large number of players operating across diverse sectors such as manufacturing, healthcare, automotive, etc.

The Asia Pacific region is anticipated to witness tremendous growth on account of rapid economic development occurring over this area coupled with a substantial increase in urbanization rate that has led manufacturers and service providers to face immense pressure from rising labor costs along with cost issues related to logistics infrastructure. The Middle East & Africa are considered developing regions but have a high potential for expansion considering their population base.

Growth Factors For The Global Wireless POS System Market:

The factors driving the growth of the wireless POS system market are an increase in demand for cost-efficient and eco-friendly systems, an increasing number of eCommerce transactions worldwide owing to increased internet penetration, availability of technologies such as Bluetooth technology that enables remote management.

The inability to adopt fully automated cash registers due to a lack of technological infrastructure is adversely affecting the growth potentials of this market globally. However, with the introduction and adoption of contactless card payment terminals at retail outlets, transaction processes will be simplified thereby driving up the global wireless POS system market share.

Up Market Research published a new report titled “Wireless POS System Market research report which is segmented by Types (Smart POS, Non-smart POS), By Applications (Retail, Hospitality, Other Industry), By Players/Companies Ingenico, Verifone, Newland Payment, Castles Tech, Bitel, CyberNet, SZZT, PAX, Centerm, LANDI, Xin Guo Du, New POS Tech”. 

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Wireless POS System Market Report Segments:

The market is segmented by Type Smart POS, Non-smart POS and By Application Retail, Hospitality, Other Industry.

Some of the companies that are profiled in this report are:

1. Ingenico
2. Verifone
3. Newland Payment
4. Castles Tech
5. Bitel
6. CyberNet
7. SZZT
8. PAX
9. Centerm
10. LANDI
11. Xin Guo Du
12. New POS Tech

Wireless POS System Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Wireless POS System Market

Overview of the regional outlook of the Wireless POS System Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Wireless POS System Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Wireless POS System Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.
6. By Type:

                1. Smart POS

                2. Non-smart POS

                1. Retail

                2. Hospitality

                3. Other Industry

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Wireless POS System Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
• Business Expansion Strategies
• Consumer Insights
• Understanding Competition Scenario
• Product & Brand Management
• Channel & Customer Management
• Identifying Appropriate Advertising Appeals

Reasons to Purchase the Wireless POS System Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.