EMV POS Terminals Market - Global Industry Research Analysis

According to Market Research Store, the global EMV POS terminals market size was valued at around USD 16.30 billion in 2023 and is estimated to reach USD 29.96 billion by 2032, to register a CAGR of approximately 7.00% in terms of revenue during the forecast period 2024-2032.

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The EMV POS terminals report provides a comprehensive analysis of the market, including its size, share, growth trends, revenue details, and other crucial information regarding the target market. It also covers the drivers, restraints, opportunities, and challenges till 2032.

Global EMV POS Terminals Market: Overview

EMV (Europay, Mastercard, and Visa) POS terminals are payment devices equipped with advanced technology to process secure transactions using EMV chip cards. These terminals adhere to global standards for authenticating credit and debit card transactions, enhancing security compared to magnetic stripe technology.

EMV terminals leverage chip technology to prevent counterfeiting and unauthorized access, making them a critical tool in mitigating fraud. They support contact, contactless (NFC), and mobile payment options, offering versatility in payment processing.

Key Highlights

• The EMV POS terminals market is anticipated to grow at a CAGR of 7.00% during the forecast period.
• The global EMV POS terminals market was estimated to be worth approximately USD 16.30 billion in 2023 and is projected to reach a value of USD 29.96 billion by 2032.
• The growth of the EMV POS terminals market is being driven by the global shift toward cashless transactions and the increasing adoption of secure payment technologies.
• Based on the type, the portable countertop and pin pad segment is growing at a high rate and is projected to dominate the market.
• On the basis of application, the retail segment is projected to swipe the largest market share.
• By region, Asia-Pacific is expected to dominate the global market during the forecast period.

EMV POS Terminals Market: Dynamics

Key Growth Drivers

• Increasing focus on contactless payments: The COVID-19 pandemic accelerated the shift towards contactless payments, driving demand for EMV POS terminals that support NFC technology.
• Rising e-commerce and m-commerce: The growth of online and mobile shopping has led to a surge in demand for EMV POS terminals, especially for mobile and portable devices.
• Stringent security regulations: Governments worldwide are implementing stricter security standards for payment transactions, making EMV compliance mandatory for merchants.
• Advancements in technology: The integration of advanced technologies like AI, IoT, and biometric authentication is enhancing the functionality and security of EMV POS terminals.

Restraints

• High initial investment costs: The initial cost of purchasing and deploying EMV POS terminals can be significant for small and medium-sized businesses.
• Complex integration with existing systems: Integrating EMV POS terminals with existing point-of-sale systems and software can be challenging and time-consuming.
• Technical complexities: EMV technology is complex and requires specialized technical knowledge to implement and maintain.

Opportunities

• Emerging markets: Developing countries with growing economies and increasing consumer spending power offer significant opportunities for EMV POS terminal adoption.
• Value-added services: Offering additional services like loyalty programs, digital receipts, and mobile payments can create new revenue streams for merchants and terminal providers.
• Integration with IoT devices: Connecting EMV POS terminals with IoT devices can enable real-time inventory management, customer analytics, and personalized offers.

Challenges

• Cybersecurity threats: EMV POS terminals are vulnerable to cyberattacks, requiring robust security measures to protect sensitive customer data.
• Vendor lock-in: Dependence on specific vendors for hardware, software, and maintenance can limit flexibility and increase costs.
• Rapid technological advancements: Keeping up with the latest technological trends and ensuring compatibility with emerging payment technologies can be challenging.

EMV POS Terminals Market: Segmentation Insights

The global EMV POS terminals market is divided by type, application, and region.

Segmentation Insights by Type

Based on type, the global EMV POS terminals market is divided into portable countertop & pin pad, mPOS, and smart POS.

Portable countertop and PIN pad terminals dominate the EMV POS terminals market. These devices are widely adopted due to their reliability, ease of integration, and suitability for various retail and service environments. Their robust design supports secure transactions, making them ideal for high-traffic businesses. The growing demand for secure payment solutions and their compatibility with multiple payment methods contribute to their dominance. This segment's steady growth is also fueled by its strong adaptability across different industries.

Smart POS terminals rank as the second most prominent segment, offering advanced features such as inventory management, customer analytics, and cloud connectivity. These devices cater to businesses looking for multifunctional solutions to streamline operations beyond just payment processing. The integration of AI and IoT technologies in smart POS systems is further enhancing their appeal. Their adoption is particularly rising among tech-savvy businesses and small to medium enterprises seeking efficiency and operational insights.

Mobile POS (mPOS) terminals, though growing rapidly, hold the smallest market share among the three segments. These lightweight, portable devices are ideal for businesses that require mobility, such as food trucks, small retailers, and pop-up shops. Their cost-effectiveness and ability to connect with smartphones or tablets via Bluetooth or Wi-Fi make them attractive for businesses with limited infrastructure. However, their adoption is somewhat limited compared to the other segments due to their specific use cases and dependency on mobile connectivity.

Segmentation Insights by Application

On the basis of application, the global EMV POS terminals market is bifurcated into retail and hospitality.

The retail sector leads the EMV POS terminals market due to its extensive need for secure, efficient payment solutions across various formats, including supermarkets, convenience stores, and e-commerce. The increasing adoption of contactless payments and digital wallets has propelled the demand for EMV POS terminals in retail. Retailers prioritize these devices for their ability to handle high transaction volumes, offer loyalty program integrations, and support multiple payment methods, enhancing customer satisfaction. The growth in the retail sector, particularly in emerging markets, continues to fuel this segment’s dominance.

The hospitality sector, encompassing hotels, restaurants, and cafes, represents the second most significant application for EMV POS terminals. These businesses benefit from POS systems’ ability to manage seamless payment processing, integrate with booking systems, and support tipping functionalities. The rise in global tourism and dining experiences, coupled with the demand for faster checkouts and enhanced guest experiences, is driving the adoption of EMV POS terminals in this segment. However, the fragmented nature of hospitality businesses results in slightly slower adoption compared to the retail sector.

EMV POS Terminals Market: Report Scope

EMV POS Terminals Market: Regional Insights

Asia-Pacific is expected to dominates the global market

Asia-Pacific leads the EMV POS terminals market, primarily due to rapid adoption of digital payment systems, widespread smartphone penetration, and government initiatives promoting cashless economies. Countries like China and India are at the forefront, leveraging advancements in mobile POS systems and increasing their merchant networks to accommodate cashless transactions. This region's dynamic retail and e-commerce growth further propels its dominance.

North America holds a strong position due to its well-established digital payment infrastructure and the high penetration of EMV technology. The U.S. and Canada are key contributors, with the retail and hospitality sectors driving demand for both conventional and mobile POS systems. The increasing focus on fraud prevention and security standards also underpins the region's growth.

Europe is another significant region, benefiting from early adoption of EMV standards and stringent regulations concerning secure transactions. The retail and banking sectors play a vital role here, with countries like the UK, Germany, and France adopting advanced POS technologies to enhance consumer experience and reduce fraud.

In South America, adoption is growing steadily, fueled by the expansion of digital banking and payment services in countries like Brazil and Argentina. Challenges such as uneven infrastructure development are counterbalanced by efforts to improve access to cashless payment systems across urban and rural areas.

MEA represents a growing market, particularly in urban centers with increasing digital transformation efforts. Mobile POS systems are gaining traction as they address gaps in traditional banking services, particularly in countries like South Africa and the UAE, where digital payment initiatives are accelerating.

EMV POS Terminals Market: Competitive Landscape

The report provides an in-depth analysis of companies operating in the EMV POS terminals market, including their geographic presence, business strategies, product offerings, market share, and recent developments. This analysis helps to understand market competition.

Some of the major players in the global EMV POS terminals market include:

• Ingenico
• PAX Technology
• SZZT Technology
• Verifone
• Brookfield Equinox LLC
• Cantaloupe Inc
• Panasonic Holdings Corp.
• Shenzhen Xinguodu Technology Co. Ltd.
• Telepower Communication Co. Ltd.
• Toshiba Corp.
• U.S. Bancorp
• UIC Payworld Inc.
• Worldline SA
• DATECS Ltd.
• Diebold Nixdorf Inc.
• Global Payments Inc.
• NCR Corp.
• NEC Corp.
• Newland Digital Technology Co. Ltd.

The global EMV POS terminals market is segmented as follows:

By Type

• Portable Countertop & Pin Pad
• mPOS
• Smart POS

By Application

• Retail
• Hospitality

By Region

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • France
  • Germany
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• The Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of Middle East Africa

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