"Smart Strategies, Giving Speed to your Growth Trajectory"

Asia Pacific Point of Sale (PoS) Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware and PoS Terminal Software), By Type (Fixed PoS, Mobile PoS, and Others), By Deployment (On-premise and Cloud-based), By Operating System (Windows/Linux, Android, and iOS), By End-user (Restaurants, Retail, Entertainment, and Others), and Regional Forecasts, 2023-2030

Last Updated: July 08, 2024 | Format: PDF | Report ID: FBI107523

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The Asia Pacific Point of Sale (PoS) market size is projected to grow at a CAGR of 18.1% during the forecast period. The global PoS market is projected to grow from USD 25.28 billion in 2022 to USD 81.15 billion by 2030.


Asia Pacific has a diverse and rapidly growing PoS market. According to our market research analysis, the region is anticipated to hold the highest CAGR among other regions during the forecast period. The market is primarily driven by increasing demand for digitalization, adoption of advanced payment technologies, and the growing popularity of e-commerce and m-commerce. The Asia Pacific Point of Sale market share is highly fragmented with many regional and local players competing against global players. Additionally, it is expected to continue to grow at a rapid pace due to increasing adoption of mobile payment methods, virtual reality, and cloud services.


LATEST TRENDS


Increasing Adoption of Contactless Payments to Drive the Market Growth


The COVID-19 pandemic significantly accelerated the adoption of contactless payments in Asia Pacific. According to the Reserve Bank of India (RBI), there was 28.6% increase in the number of Point of Sale terminals reaching 60.7 million and 39.3% increase in the deployment of Bharat Quick Response (BQR) codes, which reached 49.7 million. Additionally, the number of Automated Teller Machines (ATM) also increased from 2.39 million in 2021 to 2.48 million in 2022.


Various players in the market are integrating cashless and contactless PoS systems, using latest technologies to remain competitive.


DRIVING FACTORS


Government Initiatives and Surging Electronic Payment Systems to Fuel the Market Growth


With the rising popularity of digital transactions, businesses in the region are rapidly adopting electronic payment systems to facilitate secure and convenient transactions. Furthermore, governments and leading bodies are taking steps to promote cashless transactions as part of their broader digitalization efforts, which is driving the adoption of PoS systems in the market.


Thus, the governing bodies are promoting cashless payments and taking digitization initiatives to enable the Point of Sale market growth.


RESTRAINING FACTORS


Higher Implementation Costs and Lack of Infrastructure to Impede Market Growth


In some parts of the region, there is still a lack of infrastructure to support PoS systems such as reliable internet connectivity, or power supply. For instance, in rural areas, businesses may not have access to high-speed internet, which limits the usage of PoS systems. Additionally, higher implementation costs associated with the setting of these systems cause a significant barrier for small businesses with limited budgets.


Such factors hamper the deployment of Point of Sale (PoS) terminals, resulting in reduced market growth.


KEY INDUSTRY PLAYERS


Key Players are Deploying Innovative Products to Strengthen their Market Position with Constant Developments


The Asia Pacific market is consolidated by leading players such as PAX Global Technologies Ltd., Castles Technology Co. Ltd., Mswipe Technologies Pvt. Ltd., and Fujitsu Frontech Ltd. These key players are deploying multiple PoS systems to expand their business operations and adopting strategies such as mergers, acquisitions, product launches, collaborations, and partnerships.


List of Key Companies Profiled:



KEY INDUSTRY DEVELOPMENTS:



  • January 2023: iSeller, an Indonesia-based omnichannel platform, secured USD 12 million in Series B funding. The funding round was led by Openspace ventures and Intudo ventures, among other ventures. The company provides a seamless ecosystem for businesses to digitize operations and sales, instant online stores, digital payments acceptance, inventory management, and food delivery integration including PoS systems.

  • December 2022: Adyen launched its unified commerce solution in Japan, with enhanced in-store PoS systems. The platform provides businesses with complete control over transactions across multiple sales channels, allowing for creation of novel customer experiences such as click and collect endless aisle, and cross channel returns.

  • October 2022: JCB launched JCBDC to deploy central bank digital currency into the general public through Tokyo merchants. The company deployed Soft Space accepted PoS terminals, while upholding their second project of machine-to-machine off line payments using digital currency.

  • June 2022: QueueBuster, a mobile-based PoS startup in India, secured USD 8.16 million as part of their funding, led by Omidyar Network, Flourish Ventures, and Chiratae Ventures. The company aims to utilize their funding by improving their product stack, distribution network and         expand its merchant base.

  • January 2022: Mitsui and Co. launched its touchless aerial display technology implemented into cashless PoS systems. The PoS system displays a holographic image of the register and was deployed across six 7-11 convenience stores of Tokyo.


REPORT COVERAGE


To gain extensive insights into the market, Request for Customization


The report provides a comprehensive analysis of the market including qualitative and quantitative insights, as well as detailed evaluation of the size and growth rate of all potential market segments. It also presents an in-depth analysis of the market dynamics, emerging trends, and competitive landscape.


REPORT SCOPE & SEGMENTATION


































































  ATTRIBUTE



  DETAILS



Study Period



2019 - 2030



Base Year



2022



Estimated Year



2023



Forecast Period



2023 - 2030



Historical Period



2019 - 2021



Growth Rate



CAGR of 18.1% from 2023 to 2030



Unit



Value (USD billion)



Segmentation



By Component, Type, Deployment, Operating System, End-user, and Country



By Component




  • Hardware

  • PoS Terminal Software



By Type




  • Fixed PoS

  • Mobile PoS

  • Others (Barcode Scanner, Receipt Printer, Cash Drawer)



By Deployment




  • On-premise

  • Cloud-based



By Operating System




  • Windows/Linux

  • Android

  • iOS



By End-user




  • Restaurants

  • Retail

  • Entertainment

  • Others (Gas Stations, Transportation)



By Country




  • China (By End-user)

  • India (By End-user)

  • Japan (By End-user)

  • South Korea (By End-user)

  • ASEAN (By End-user)

  • Oceania (By End-user)

  • Rest of Asia Pacific






Frequently Asked Questions

Growing at a CAGR of 18.1%, the market will exhibit steady growth in the forecast period (2023-2030).

Government initiatives and surging electronic payment systems to the drive the market growth.

PAX Global Technologies Ltd., Castles Technology Co. Ltd., Mswipe Technologies Pvt. Ltd., and Fujitsu Frontech Ltd. are the major players in the Asia Pacific market.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
  • 2019-2030
  • 2022
  • 2019-2021
  • 60

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X