Surging Demand for Mobile Point of Sales (mPOS)

According to our latest market study on "Europe Payment Terminal Market Forecast to 2028 – COVID-19 Impact and Analysis – by Type (Fixed Terminal and Mobile Terminal), Enterprise Size (Small Enterprises, Medium Enterprises, and Large Enterprises), End User (Retail and Consumer Goods, Restaurants, Hospitality, Media and Entertainment, Transportation and Logistics, Healthcare, and Others), and Country" the market was valued at US$ 18,326.7 million in 2021 and is projected to reach US$ 34,437.1 million by 2028; it is expected to grow at a CAGR of 9.4% from 2021 to 2028.

The rising demand for payment terminal products from customers, retailers, banks, telecom providers, and gadget suppliers propels its adoption. Retailers may use mPOS and associated software systems to enhance consumer interaction, resulting in higher conversion rates and sales. Mobile POS is a specific integrated device that may operate as electronic POS terminals, such as smartphones and tablets. Mobile POS deployments allow brick-and-mortar retailers to use pricing, product information, and inventory data, thereby enabling omnichannel engagement, which will drive the Europe payment terminal market during the forecast period.

The Europe payment terminal market is segmented on the basis of type, enterprise size, and end user. Based on end user, the market is segmented into retail and consumer goods, restaurants, hospitality, media and entertainment, transportation and logistics, healthcare, and others. The retail and consumer goods segment is expected to hold potential share in the market during the forecast period. Retail is a tough business owing to disruption of new formats and consumers under economic pressure. The society is moving toward virtual shopping, which is augmenting the demand for payment terminal. For instance, according to ESW, there are currently 62.4 million e-commerce users in Germany.  German consumers are moving toward digital payment options using a bank transfer, digital wallet, and credit cards. In second half of 2021, more than 70% of consumers shopped through online stores. Growing digitalization is augmenting the usage of payment terminals in small enterprises and large enterprises, which is driving the market growth.

PAX Technology; SumUp Inc.; VeriFone, Inc.; GK Software SE; Ingenico Group S.A.; NEC Corporation; ASEE Group; NCR Corporation; MYPOS WORLD LTD; and Zettle by PayPal are among the key market players in the Europe payment terminal market.

Impact of COVID-19 Pandemic on Europe Payment Terminal Market

The COVID-19 pandemic has caused a temporary disruption in the European market. Supply chain disruptions have had a severe influence on the payment terminal market. During the COVID-19 outbreak, the European government recognized that all enterprises, regardless of size, require assistance. The crisis had a significant influence on Europe's corporate operations, both public and private. Due to the COVID-19 pandemic, the UK, France, Italy, Spain, Poland, and Germany are among the worst-affected member states in Europe. Businesses in the region are experiencing serious financial difficulties. They are ceasing operations or drastically reducing their activity. Europe's economy slowed in the first half of 2021 as a result of the corporate shutdown. The pandemic had a significant impact on the region's tourism industry. Retail, entertainment, and restaurants, which were gold mines for POS vendors, sustained losses as tourist activities came to a standstill in 2020. The demand for mobile payment terminal systems, on the other hand, has increased because they do not require the use of a standard terminal.

Europe Payment Terminal Market Breakdown – by Country, 2020

The report segments the Europe Payment Terminal market as follows:

Based on type, the Europe payment terminal market is segmented into fixed terminal and mobile terminal. Based on enterprise size, the market is segmented into small enterprises, medium enterprises, and large enterprises. Based on end user, the Europe payment terminal market is segmented into retail and consumer goods, restaurants, hospitality, media and entertainment, transportation and logistics, healthcare, and others. Based on country, the market is segmented into Germany, the UK, France, Italy, Spain, Poland, and the Rest of Europe.

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