Latin America Point of Sale (POS) Terminal Market Introduction and Overview
According to SPER Market Research, the Latin America Point of Sale (POS) Terminal Market is estimated to reach USD XX billion by 2033 with a CAGR of 6.47%.
The report includes an in-depth analysis of the Latin America Point of Sale (POS) Terminal Market, including market size and trends, product mix, applications, and supplier analysis. In order to handle card payments, POS terminals integrate hardware and software components. They gather, keep, and report revenue, sales, and client information. POS terminals verify that there are enough funds available after receiving consumer data from credit or debit cards. Money is moved from the accounts of customers to those of vendors, and then the transactions are documented and receipts are created. Moreover, POS terminals can be used for office administration, sales analysis, inventory control, and order monitoring for customers. Cash drawers, bar code scanners, computers, receipt printers, and magnetic strip readers are often found hardware parts of point-of-sale (POS) terminals. A server or a single PC can be linked to multiple point-of-sale devices.
- August 2022; GK Software declared that it would work with the Schwarz Group to move their point-of-sale software to the CLOUD4RETAIL open platform, extending their cooperation over the coming years.
- March 2021; The 'RuPay SoftPoS' was created by National Payments Corporation of India (NPCI) in collaboration with SBI Payments to offer a novel payment acceptance solution to millions of Indian retailers. Retailers may use NFC-enabled cellphones as point-of-sale terminals thanks to this creative idea.
Market Opportunities and Challenges
Opportunities- Point of Sale systems are being used by many businesses to gather and examine transaction data. The information offers insightful knowledge on customer behavior, product acceptance, and current market trends. Businesses use this data to make well-informed decisions regarding marketing, customer service, and inventory control, among other operations. Such as StoneCo created a platform called Stone Intelligence that analyzed transactional data and gave merchants insights using AI and machine learning. Although not very sophisticated overall, the application of data analytics to PoS solutions is anticipated to become more significant in the years to come.
Challenges- High levels of cash usage and limited access to financial services reduce the use and trust factor of digital payments. It is difficult for PoS providers to implement their technology in many countries because cash is still the preferred payment method despite efforts to promote the usage of electronic payments. Furthermore, a sizable section of the populace is still unbanked, which restricts their usage of conventional payment methods. In places where banking services are scarce, businesses have instead implemented cash-based payment systems. By lowering the adoption and utilization of PoS solutions and contactless payment methods, these factors impede the growth of the industry.
Market Competitive Landscape
The Latin America Point of Sale (POS) Terminal Market is a highly competitive arena due to the presence of multiple global and regional companies in the competitive environment. Leading companies in the industry are Adyen, Cielo, Ingenico, Mercado Pago, PagSeguro, Square, Stripe, SumUp, Verifone, and Wirecard, Others.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Component, By Deployment |
| Regions covered | North America, Central America, Southern America, Caribbean |
| Companies Covered | Adyen, Cielo, Ingenico, Mercado Pago, PagSeguro, Square, Stripe, SumUp, Verifone, and Wirecard. |
COVID-19 Impact on Latin America Point of Sale (POS) Terminal Market
The COVID-19 pandemic accelerated the migration to contactless and digital payments, which had a huge impact on the Point of Sale (POS) terminal business in Latin America. Many retailers and service providers implemented point-of-sale (POS) systems that facilitated remote payments and e-commerce solutions as a result of business constraints and changes in consumer behavior. The increased demand for safer purchasing experiences, which resulted in more mobile payment choices and digital wallets, was the driving force behind this shift.
Key Target Audience:
- Retail Businesses
- Restaurants and Cafés
- E-commerce Companies
- Small and Medium Enterprises (SMEs)
- Hospitality Industry
- Supermarkets and Grocery Stores
- Service Providers
Our in-depth analysis of the Latin America Point of Sale (POS) Terminal Market includes the following segments:
| By Component: | HardwarePoS Terminal SoftwareOthers |
| By Deployment: | On-premiseCloud-basedOthers |
Key Topics Covered in the Report:
- Latin America Point of Sale (POS) Terminal Market Size (FY’2024-FY’2033)
- Overview of Latin America Point of Sale (POS) Terminal Market
- Segmentation of Latin America Point of Sale (POS) Terminal Market By Component (Hardware, Software, Services, Others)
- Segmentation of Latin America Point of Sale (POS) Terminal Market By Deployment (On Premise, Cloud Based)
- Statistical Snap of Latin America Point of Sale (POS) Terminal Market
- Expansion Analysis of Latin America Point of Sale (POS) Terminal Market
- Problems and Obstacles in Latin America Point of Sale (POS) Terminal Market
- Competitive Landscape in the Latin America Point of Sale (POS) Terminal Market
- Impact of COVID-19 and Demonetization on Latin America Point of Sale (POS) Terminal Market
- Details on Current Investment in Latin America Point of Sale (POS) Terminal Market
- Competitive Analysis of Latin America Point of Sale (POS) Terminal Market
- Prominent Players in the Latin America Point of Sale (POS) Terminal Market
- SWOT Analysis of Latin America Point of Sale (POS) Terminal Market
- Latin America Point of Sale (POS) Terminal Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Latin America Point of Sale (POS) Terminal Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Latin America Point of Sale (POS) Terminal Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Latin America Point of Sale (POS) Terminal Market
7. Latin America Point of Sale (POS) Terminal Market, By Component (USD Million) 2020-2033
7.1. Latin America Point of Sale (POS) Terminal Market Size, Share and Forecast, By Component, 2020-2026
7.2. Latin America Point of Sale (POS) Terminal Market Size, Share and Forecast, By Component, 2027-2033
7.3. Hardware
7.4. PoS Terminal Software
7.5. Others
8. Latin America Point of Sale (POS) Terminal Market, By Deployment (USD Million) 2020-2033
8.1. Latin America Point of Sale (POS) Terminal Market Size, Share and Forecast, By Deployment, 2020-2026
8.2. Latin America Point of Sale (POS) Terminal Market Size, Share and Forecast, By Deployment, 2027-2033
8.3. On-premise
8.4. Cloud-based
8.5. Others
9. Latin America Point of Sale (POS) Terminal Market Forecast, 2020-2033 (USD Million)
9.1. Latin America Point of Sale (POS) Terminal Market Size and Market Share
10. Latin America Point of Sale (POS) Terminal Market, By Region, 2020-2033 (USD Million)
10.1. Latin America Point of Sale (POS) Terminal Market Size and Market Share By Region (2020-2026)
10.2. Latin America Point of Sale (POS) Terminal Market Size and Market Share By Region (2027-2033)
10.3. North America
10.4. Central America
10.5. Southern America
10.6. Caribbean
11. Company Profile
11.1. Adyen
11.1.1. Company details
11.1.2. Financial outlook
11.1.3. Product summary
11.1.4. Recent developments
11.2. Cielo
11.2.1. Company details
11.2.2. Financial outlook
11.2.3. Product summary
11.2.4. Recent developments
11.3. Ingenico
11.3.1. Company details
11.3.2. Financial outlook
11.3.3. Product summary
11.3.4. Recent developments
11.4. Mercado Pago
11.4.1. Company details
11.4.2. Financial outlook
11.4.3. Product summary
11.4.4. Recent developments
11.5. PagSeguro
11.5.1. Company details
11.5.2. Financial outlook
11.5.3. Product summary
11.5.4. Recent developments
11.6. Square
11.6.1. Company details
11.6.2. Financial outlook
11.6.3. Product summary
11.6.4. Recent developments
11.7. Stripe
11.7.1. Company details
11.7.2. Financial outlook
11.7.3. Product summary
11.7.4. Recent developments
11.8. SumUp
11.8.1. Company details
11.8.2. Financial outlook
11.8.3. Product summary
11.8.4. Recent developments
11.9. Verifone
11.9.1. Company details
11.9.2. Financial outlook
11.9.3. Product summary
11.9.4. Recent developments
11.10. Others
12. Conclusion
13. List of Abbreviations
14. Reference Links