How Will The Virtual Payment (POS) Terminals Market Size Evolve Over the Coming Years?
The virtual payment (POS) terminals market is experiencing significant growth and is expected to grow from $17.85 billion in 2024 to $23.48 billion in 2025 at a compound annual growth rate (CAGR) of 31.5%. The historic growth can be attributed to factors like market competition and differentiation, mobile wallet adoption, the evolution of the retail industry, consumer demand for convenience, and regulatory changes.
Looking towards the future, the market size is expected to surge further, reaching $79.1 billion in 2029 at a CAGR of 35.5%. This extraordinary growth is expected due to rapid technological adaptation, environmental concerns and sustainability, subscription-based models and service enhancements, globalization and cross-border transactions, and enhanced security and compliance measures. Major trends fuelling this growth are partnerships and integrations, subscription and service-based models, globalization and cross-border payments, evolving technology, and product innovations.
Get Your Free Sample of The Global Virtual Payment (POS) Terminals Market Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7195&type=smp
What Are The Drivers Shaping The Virtual Payment (POS) Terminals Market?
A significant driver for the virtual payment (POS) terminals market is the increasing prevalence of digital payment methods. The ongoing digital revolution has broadened access to and use of financial services globally, altering how people send and receive payments, borrow money, and save. Furthermore, the COVID-19 pandemic has sparked financial inclusion and led to a substantial rise in digital payments. Virtual payment (POS) terminals aid these digital transactions, managing payments over the phone, mail, fax, email, or in person. For example, according to the McKinsey’s Digital Payments Consumer Survey, digital payments grew by 12% during 2022-2023, indicating an increase in digital payments that is expected to boost demand for virtual payment (POS) terminals in the forecast period.
What Are The Key Segments In The Virtual Payment (POS) Terminals Market?
1) By Solution: Software Platform, Professional Services
2) By Industry: Retail, Warehouse, Hospitality, Consumer Electronics, Food and Beverages, Healthcare, Entertainment, Other Industries
Order your report now for swift delivery:
https://www.thebusinessresearchcompany.com/report/virtual-payment-pos-terminals-global-market-report
Who Are The Major Players In The Virtual Payment (POS) Terminals Market?
Prominent companies operating in the virtual payment (POS) terminals market include Castles Technology Co. Ltd., Diebold Nixdorf Incorporated, NCR Corporation, Panasonic Corporation, PAX Technology Limited, Square Inc., Stripe Inc., Adyen N. V., Global Payments Inc., First Data Corporation, Verifone Systems Inc., Ingenico Group SA, Fujian Newland Payment Technology Co Ltd., BBPOS Limited, BitPay Inc., Shift4 Payments LLC, PayU Group, Paytm Mobile Solutions Private Limited, Mswipe Technologies Private Limited, Payzone UK Limited, InovioPay LLC, Amazon. com Inc., VeriFone Inc., iZettle AB, SumUp Inc., Shopify Inc., Lightspeed POS Inc., Revel Systems Inc.
What Are The Emerging Trends In The Virtual Payment (POS) Terminals Market?
Technological advancements are key trends gaining traction in the virtual payment (POS) terminals market. For instance, the deployment of the biometric payment system in virtual payment POS terminals. Biometric payment is a point-of-sale technology that uses physical attributes for biometric authentication to identify users and authorize withdrawals from bank accounts.
In which region is the Virtual Payment (POS) Terminals Market Growing the Fastest?
In 2024, North America was the largest region in the virtual payment (POS) terminals market and is also expected to be the fastest-growing region in the forecast period. The virtual payment (POS) terminals market report also covers other regions such as Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
What Does The Virtual Payment (POS) Terminals Market Report 2025 Offer?
The virtual payment (POS) terminals refer to a web-based application that processes electronic payments over the phone, mail, fax, email, or in person. Virtual terminals utilize non-physical software programs yet function similarly to a physical card reader. The Virtual Payment (POS) Terminals Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Purchase the exclusive report now to unlock valuable market insights:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=7195
About The Business Research Company
Learn More About the Business Research Company. With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model (GMM), is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
