Handheld Point Of Sale Pos Device Market Size, Share, Industry Trends and Forecast to 2030

Handheld Point Of Sale Pos Device Market Size & CAGR in 2021

The global handheld point of sale (POS) device market had a market size of USD 5.6 billion in 2021, with a Compound Annual Growth Rate (CAGR) of 10.2% during the same year. The market is expected to expand further in the coming years.

COVID-19 Impact on the Handheld Point Of Sale Pos Device Market

The COVID-19 pandemic had a significant impact on the handheld point of sale (POS) device market. Due to lockdowns and restrictions on physical businesses, there was a surge in demand for contactless payment solutions, leading to increased adoption of handheld POS devices. The market witnessed a shift towards digital payments, which accelerated the growth of the market during the pandemic.

Handheld Point Of Sale Pos Device Dynamics

The handheld point of sale (POS) device market is driven by factors such as the increasing trend of digital payments, the need for efficient and convenient payment solutions, and the rise in the number of small and medium-sized businesses. These devices offer flexibility, mobility, and enhanced customer experience, making them popular among various industries such as retail, hospitality, and healthcare.

Segments and Related Analysis

The handheld POS device market can be segmented based on technology, type, end-user, and geography. Technological advancements such as mobile POS systems, cloud-based solutions, and integrated payment processing are driving the growth of the market. The adoption of handheld POS devices in retail stores, restaurants, and other businesses is increasing rapidly.

By Region Analysis

The handheld POS device market is segmented into regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the market in 2021, followed by Europe and Asia Pacific. The increasing penetration of smartphones, rising internet connectivity, and growing e-commerce sector are driving the market in these regions.

Key Market Players and Competitive Landscape

Some of the key players in the handheld POS device market include Ingenico Group, Verifone, PAX Global Technology, Square, Inc., and Toshiba Corporation. These companies are focusing on product innovation, strategic partnerships, and mergers to strengthen their market position and expand their customer base.

Recent Happenings in the Handheld Point Of Sale Pos Device Market

- In March 2021, Ingenico Group launched a new handheld payment terminal with enhanced security features and contactless payment options. - Verifone announced a partnership with a leading e-commerce platform to integrate its handheld POS devices for online and offline payment processing. - PAX Global Technology introduced a new series of handheld POS devices with advanced payment capabilities and improved user interface. - Square, Inc. expanded its market presence by launching new handheld POS solutions for small businesses and retailers. - Toshiba Corporation collaborated with a software company to develop a customized handheld POS device for the healthcare industry.