Outdoor Payment Terminal (OPT) Market Size - By Product Type, By End-Users, By Applications, By Deployment Modes - Regional Outlook, Competitive Strategies and Segment Forecasts to 2032

Outdoor Payment Terminal (OPT) Market Size - By Product Type, By End-Users, By Applications, By Deployment Modes - Regional Outlook, Competitive Strategies and Segment Forecasts to 2032

Global Outdoor Payment Terminal Market Overview:

According to SPER Market Research, the Global Outdoor Payment Terminal Market is estimated to reach USD 3.60 billion by 2032 with a CAGR of 8.96%.

The market for outdoor payment terminals is expanding as a result of increased customer demand for speedier payment settlements and rising use of cutting-edge technology like IoT and cloud-based solutions. The need for outdoor payment terminals is being driven by a number of other causes, including growing customer knowledge of online transactions, fingerprint and face recognition technology, accessibility to online clothes, and items for groceries and electricity. Additionally, the market for outdoor payment terminals is expanding due to the increased need for e-commerce, a work-from-home lifestyle, and consumer demands for quicker payment settlements. The growing numbers of millennials and Generation Z, who favour online transactions and outdoor payment terminals in particular, are also fuelling the expansion of the worldwide industry.

Impact of COVID-19 on the Global Outdoor Payment Terminal Market

Nearly every business has been impacted by the unmatched worldwide public health emergency known as COVID-19, and the long-term impacts are expected to have an influence on industry growth throughout the course of the projection period.The COVID-19 pandemic outbreak is projected to have a significant impact on the market for outdoor payment terminals. The number of people doing contactless transactions has surged since the outbreak. It is expected that the market would benefit from customers and merchants turning to contactless payment methods to stop the virus's spread. Due to the growing worries about payment security, retail merchants also make sure to offer a safe platform to their clients with the deployment of OPTs.OPT market is anticipated to expand dramatically as a result of the increased trend of cashless transactions during COVID-19 as consumers and businesses alike rely on touchless modes of transactions out of concern about the transmission of the virus. As a result, the market for outdoor payment terminals has benefited from the epidemic. The expansion of the outdoor payment terminal (OTP) industry has also been accelerated by the work-from-home lifestyle and the rise in e-commerce demand.

Scope of the Report:

Market size available for years 2019-2032
Base year considered 2021
Forecast period 2022-2032

Segments covered By Product Type, By End-Users, By Applications, By Deployment Modes

Regions covered North America, Europe, Asia Pacific, Latin America, Middle East and Africa

Companies Covered ACI WorldwideInc., Apple Inc., Bank of American Corporation, Capgemini SE, Dover Corporation, Fidelity National Information Services Inc., Finastra Group Holdings Limited, Finastra Group Holdings Limited (Vista Equity Partners), Fiserv Inc., Gilbarco Inc., Global Payments Inc., IDTECH, Invenco Group Ltd., Mastercard Inc., Montran Corporation, NCR Corporation, PayPal Holdings Inc., S.W.I.F.T. SC, Scheidt& Bachmann GmbH, Temenos AG, VeriFone HoldingsInc. Visa Inc., Wayne Fueling System.

Global Outdoor Payment Terminal Market Segmentation:

By Product Type: Based on the Product Type, Global Outdoor Payment Terminal Market is segmented as; Contact-based Payment Terminal and Contactless Payment Terminal.

By End-Users: Based on the End-Users, Global Outdoor Payment Terminal Market is segmented as; BFSI, E-Commerce, Energy, Government, IT and Telecommunications, Retail, Utilities and Other End-Users.

By Applications: Based on the Applications, Global Outdoor Payment Terminal Market is segmented as; Carwash, Malls, Refuel and Others.

By Deployment Modes: Based on the Deployment Modes, Global Outdoor Payment Terminal Market is segmented as;Cloud and On-premises.

By Region: The Outdoor Payment Terminal Market is examined in each of the following regions: North America, Europe, Asia-Pacific, and LAMEA. North America saw the market for outdoor payment terminals in 2021. People in countries like the US and Canada are showing increasing interest in different payment methods, such as debit, credit, prepaid cards, and others. This is causing the market for outdoor payment terminals to grow throughout the area. The region's increase in self-checkout retail stores is another factor driving growth.