Latin America POS Terminal Market (2022-2028) | Revenue, Growth, Industry, Size, Share, Outlook, Forecast, Analysis, Trends, Value, Segmentation & COVID-19 IMPACT

Latest 2023 Development of Latin America POS Terminal Market

Latin America POS Terminal Market is forecast to grow significantly owing to various factors. The major development of this market includes the growing adoption of contactless payments due to the prevailing pandemic. Many countries in Latin America have seen an increase in the use of QR code payments and NFC technology which involves contactless payments. The expansion of mobile point-of-sale solutions which allow merchants to accept payments through a smartphone has become increasingly popular in Latin America. The COVID-19 pandemic has also led to an increase in e-commerce and online payments in Latin America to prevent infectious diseases. As a result, there has been a greater demand for POS terminals that can accept online payments and integrate with e-commerce platforms.

Mexico and Brazil have launched initiatives to promote digital payments and diminish the use of cash. This has led to a greater demand for the POS terminals industry in Latin America and the rising popularity of cloud-based POS solutions. The growing demand for mobile POS terminals and the rising popularity of cloud-based POS solutions are expected to contribute to the growth of this industry. 

Latin America POS Terminal Market Synopsis

The Latin America POS terminal market is forecast to grow at a CAGR of 7.5% during the period 2017-2021. The growth is due to the increasing adoption of POS terminals in the retail sector, as well as increasing demand from small and medium businesses. However, the market is facing challenges such as high installation costs and a lack of awareness about their benefits among merchants. In addition, regulatory constraints in some countries are hampering the growth of the market. The Latin America POS Terminal market is a part of the global POS terminal market.

According to 6Wresearch, the Latin America POS Terminal market size is likely to witness growth during 2022-28. The growth is mainly due to the increasing trend of retail and commercial establishments adopting POS terminals for various purposes such as inventory management, customer service, and sales tracking. Additionally, the region is witnessing an increasing adoption of POS terminals for various retail transactions owing to the rising demand for cashless services and enhanced security features offered by these terminals. This trend is expected to boost the market in Latin America, which will be supported by the growing number of merchants who are adopting POS terminals as a means of automating their operations. Further, POS terminals are used for processing transactions and issuing receipts. They are also used for managing inventory and tracking customer activity. In Latin America, the largest market for POS terminals is Brazil, followed by Mexico and Argentina. The popularity of mobile payments is also fuelling the growth of the Latin American POS terminal market. Further, the growth of POS terminal can be largely attributed to the increasing demand from small and medium enterprises (SMEs) in North America and Europe. Latin America, however, is expected to lag behind other regions in terms of POS terminal adoption rates.

Market Analysis By Countries

Brazil is expected to lead the market in terms of revenue during the forecast period, owing to its well-developed infrastructure and large population base. Mexico is also expected to grow rapidly during the forecast period, owing to its expanding retail sector and growing adoption of electronic payment options. Other key players in this market include Argentina, Colombia, Peru, and Venezuela.

Market Analysis By Type

In terms of type, the market is categorized into portable, countertop, mobile POS, pin pad and multimedia. Currently, the portable type of POS accounts for the highest market share. The growth is attributed to the increasing adoption of POS terminals across retailers and merchants in the region. Further, the main drivers of this growth are increasing investments by large retailers in the region, as well as growing adoption rates among small and medium businesses (SMBs). However, Brexit could have a negative impact on the market over the next few years.

COVID-19 Influence on the Latin America POS Terminal Market

The occurrence of the Covid-19 pandemic has resulted in a stoppage in past. However, the market has recuperated gradually. Currently, the market has tremondous growth opportunities. The Latin American POS terminal market is currently facing significant challenges, as the region's economic slowdown and increasing competition from other regions are putting pressure on operators. This trend is expected to continue in the near future, as there has been a notable decline in consumer spending across most of Latin America. In spite of these challenges, the market is still growing at a rate of 7% annually, which is thanks to the increasing demand for e-commerce solutions in the region.

Key Attractiveness of the Report

• COVID-19 Influence on the Market Dynamics.
• 10 Years of Market Data.
• Historical Numbers from 2018 to 2021.
• Base Year: 2021
• Market Forecast Data Until 2028
• Key Performance Indicators Influencing the Market.
• Key Developments and Projects.

Key Highlights of the Report

• Latin America POS Terminal Market Overview
• Latin America POS Terminal Market Outlook
• Latin America POS Terminal Market Forecast
• Historical Data of Latin America POS Terminal Market Revenues for the Period 2018-2021
• Latin America POS Terminal Market Size and Forecast of Revenues, Until 2028
• Historical Data of Latin America POS Terminal Market Revenues, by Terminal Types, for the Period 2018-2021
• Market Size & Forecast of Latin America POS Terminal Market Revenues, by Terminal Types, Until 2028
• Historical Data of Latin America POS Market Terminal Revenues, by End-User, for the Period 2018-2021
• Market Size & Forecast of Latin America POS Terminal Market Revenues, by End-User, Until 2028
• Historical Data of Mexico Point-of-Sale Terminal Market Revenues and Volume, for the Period 2018-2021
• Market Size & Forecast of Mexico Point-of-Sale Terminal Market Revenues and Volume, Until 2028
• Historical Data of Brazil Point-of-Sale Terminal Market Revenues and Volume, for the Period 2018-2021
• Market Size & Forecast of Brazil Point-of-Sale Terminal Market Revenues and Volume, Until 2028
• Historical Data of Argentina Point-of-Sale Terminal Market Revenues and Volume, for the Period 2018-2021
• Market Size & Forecast of Argentina Point-of-Sale Terminal Market Revenues and Volume, Until 2028
• Historical Data of Rest of Latin America Point-of-Sale Terminal Market Revenues and Volume, for the Period 2018-2021
• Market Size & Forecast of Rest of Latin America Point-of-Sale Terminal Market Revenues and Volume, Until 2028
• Market Drivers and Restraints
• Latin America POS Terminal Market Trends
• Market Opportunity Assessment
• Latin America POS Terminal Market Share, By Countries
• Latin America POS Market Share, By Players
• Latin America POS Terminal Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The report delivers a widespread study of the subsequent market segments:

By POS Terminal Type:

• Portable
• Countertop
• Mobile POS
• PIN Pad
• Multimedia
  

By End Users:

• Hospitality & Healthcare
• Retail & e-Commerce
• Government & Transportation
• Others
  

By Countries

• Mexico
• Brazil
• Argentina
• Rest of Latin America