Global Smart POS Machine Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Smart POS Machine Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Smart POS machine is the POS device combined with the technology of Android operating system.

Market Overview:

The latest research study on the global Smart POS Machine market finds that the global Smart POS Machine market reached a value of USD 6946.28 million in 2022. It’s expected that the market will achieve USD 42363.6 million by 2028, exhibiting a CAGR of 35.17% during the forecast period.

Covid-19 Impact: Global GDP Growth, 2019, 2020 and 2021 Projections

According to the World Economic Outlook by International Monetary Fund (IMF), the COVID-19 pandemic is inflicting high and rising human costs worldwide. Protecting lives and allowing health care systems to cope have required isolation, lockdowns, and widespread closures to slow the spread of the virus. The health crisis is therefore having a severe impact on economic activity. As a result of the pandemic, the global economy is projected to contract sharply by –3 percent in 2020, much worse than during the 2008–09 financial crisis. In a baseline scenario, which assumes that the pandemic fades in the second half of 2020 and containment efforts can be gradually unwound, the global economy is projected to grow by 5.8 percent in 2021 as eco- nomic activity normalizes, helped by policy support.

There is extreme uncertainty around the global growth forecast because the economic fallout depends on uncertain factors that interact in ways hard to predict. these include, for example, the pathway of the pandemic, the progress in finding a vaccine and therapies, the intensity and efficacy of containment efforts, the extent of supply disruptions and productivity losses, the repercussions of the dramatic tightening in global financial market conditions, shifts in spending patterns, behavioral changes (such as people avoiding shopping malls and public transportation), confidence effects, and volatile commodity prices.

COVID-19 Impact: Smart POS Machine Market Opportunities and Drivers

The development of the global mobile Internet uses mobile payment as the gateway, and various offline value-added services require smart POS to carry. Relevant research data shows that the number of global smartphone users in 2018 has exceeded 3 billion, and it is expected that by 2021, the number of users will reach 3.8 billion. The rapid popularity of smart phones has led to the rapid development of the global mobile Internet, and mobile payments will also follow the trend, thereby increasing the global demand for smart POS.

This opportunity is particularly prominent in China. In 2018, the rise of face payment has brought new industrial variables. In August 2018, Alipay took the lead in announcing its commercial use of face-swiping payment. Since then, Alipay’s face-swiping payment devices have continued to introduce new ones. WeChat Pay has also launched a frog lightweight facial payment device to counter Alipay. UnionPay has also followed Internet companies and piloted facial payment in business circles and universities. The lightweight and digital development direction of facial payment devices overlaps with the attributes of smart POS, and facial payment devices can even be understood as smart POS that supports facial payment. For the smart POS industry, face payment has brought new opportunities and challenges.

Region Overview:

China had the highest growth rate of all regions.

Company Overview:

The top three companies are Landi Crop, Newland Payment, Verifone with the revenue market share of 23.23%, 17.96%, 14.07% in 2019.

Fujian LANDI Commercial Equipment Co., Ltd. is ranked the first in the secure electronic payments industry in China and Selected by all of the top 10 banks (Industrial And Commercial Bank Of China, Bank Of China, Agricultural Bank Of China, China Construction Bank and so on). LANDI has built up the direct sales service platform, 9 regional sales subsidiaries, 46 sales offices, 9 technical support centers, 46 service networks around China.

NPT is the largest part of Newland Group, a listed company in Shenzhen Stock Exchange (SZE-000997). Founded in 1994 in Fuzhou, China, NPT has been offering complete, flexible and adaptable suite of POS products, solutions and services whilst maintaining security and future-proofing its offerings to its valued customers and partners around the world.

Segmentation Overview:

Among different product types, Fixed POS Terminal segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Retail segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Smart POS Machine market covered in Chapter 3:

Elavon
Ceffectz
Landi Crop
My Pos
Verifone
Newland Payment
Ingenico
Poynt
PAX Global Technology

In Chapter 4 and Chapter 14.2, on the basis of types, the Smart POS Machine market from 2018 to 2029 is primarily split into:

Fixed POS Terminal
Wireless POS Terminal
Mobile POS Terminal

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Smart POS Machine market from 2018 to 2029 covers:

Retail
Hospitality
Healthcare
Transportation
Sports & Entertainment
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)