Middle East & Africa (MEA) POS Terminal Market (2024-2030) | Analysis, Size, Share, industry, Revenue, Analysis, Forecast, Outlook & COVID-19 IMPACT

Latest 2023 Development of the Middle East and Africa POS Terminal Market

The Middle East and Africa POS terminal market are growing due to the increasing adoption of cashless payment methods and the growing e-commerce industry in the region. The demand for mobile POS terminals is increasing in the Middle East and Africa, as they offer flexibility and convenience to merchants. The ability to accept payments on the go is particularly important for small and medium-sized businesses (SMBs) and those in the hospitality industry. Additionally, the COVID-19 pandemic has accelerated the adoption of contactless payment methods in the Middle East and Africa. Consumers are increasingly opting for contactless payment options to minimize the risk of transmitting the virus. This trend is expected to continue, with more merchants adopting contactless payment solutions to meet customer demand.

The cloud-based POS systems are gaining popularity in the Middle East and Africa POS industry, as they offer several advantages over traditional on-premise solutions. Cloud-based systems are more cost-effective, scalable, and easier to deploy and manage. They also provide real-time data analytics, which can help merchants make informed business decisions. Further, POS terminal providers are partnering with banks and other financial institutions to expand their reach in the Middle East and Africa. For example, in 2021, Verifone announced a partnership with Fawry, a leading payment gateway in Egypt, to enable merchants to accept payments through Fawry's network using Verifone's POS terminals.

Middle East & Africa (MEA) POS Terminal Market Highlights

Report Name	Middle East & Africa (MEA) POS Terminal Market
Forecast period	2024-2030
CAGR	15%
Growing Sector	Retail sector

Topics Covered in the Middle East & Africa (MEA) POS Terminal Market Report

The Middle East & Africa (MEA) POS Terminal Market report thoroughly covers the market by POS Terminal Types, by End Users, and by Countries. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would assist stakeholders to devise and align their market strategies according to the current and future market dynamics.

The Middle East & Africa (MEA) POS Terminal Market Synopsis

The POS terminal market in the Middle East and Africa is experiencing remarkable growth, driven by advancements in POS technology and substantial investments in sectors like retail, healthcare, transportation, and hospitality. As digitization permeates these regions, the demand for various POS terminals is surging. The emphasis on efficient business transaction solutions is propelling the market, with portable, countertop, mobile POS, PIN pad, and multimedia terminals being increasingly adopted. This shift towards digitization and efficient transaction systems highlights the regions' commitment to modernizing their business operations and enhancing customer experiences, ultimately contributing to the robust expansion of the POS terminal market.

According to 6Wresearch, The Middle East & Africa (MEA) POS Terminal Market size is expected to grow at a significant CAGR OF  15% during the forecast period of 2024-2030. The POS terminal market in the Middle East and Africa is undergoing rapid growth, driven by the region's strong commitment to digital transformation and the promotion of efficient transaction solutions. Innovations in POS technology, focusing on enhancing efficiency and user-friendliness, are fueling this expansion. The increasing demand for secure and effective transaction systems across diverse sectors is prompting significant investments in POS advancements. These cutting-edge technologies not only boost operational efficiency but also enhance transactional convenience, catering to the evolving needs of businesses. As awareness and adoption of these advanced POS solutions increase, stakeholders are increasingly investing in pioneering technologies, creating a dynamic market poised to support the ambitious digital transformation objectives of these regions.

Despite the impressive growth, challenges persist in fully realizing the potential of the POS terminal market in the Middle East and Africa. One key obstacle is the lack of proper infrastructure and technological readiness in some regions. This creates a divide between urban and rural areas, limiting access to efficient transaction solutions for businesses and customers alike. Additionally, security concerns such as data breaches and fraud incidents pose a significant threat to the market's expansion. As more transactions move towards digital channels, ensuring secure payment processes becomes crucial for maintaining consumer trust.

Middle East & Africa (MEA) POS Terminal Industry Leading Players

In the Middle East and Africa, the POS terminal industry features several prominent players driving innovation and market growth. Companies include Verifone Systems Inc., Ingenico Group (now part of Worldline), and PAX Technology Ltd. are leading the charge with their advanced POS solutions. These companies specialize in developing cutting-edge technologies that enhance transaction efficiency, security, and customer experience. Their robust POS systems cater to a wide range of industries, including retail, hospitality, healthcare, and entertainment, meeting the diverse needs of businesses across the region. Other key players like NCR Corporation and Toshiba Tec Corporation also play significant roles in the market, offering comprehensive POS solutions that integrate hardware, software, and payment processing capabilities. As digital transformation initiatives continue to accelerate in the Middle East and Africa, these leading players are pivotal in driving the adoption of sophisticated POS technologies that support seamless and secure transactions, positioning the region for continued growth in the POS terminal industry.

POS Terminal Market in Middle East and Africa Government Regulation

In the Middle East and Africa, the POS terminal market is influenced by various government regulations aimed at enhancing transaction security, promoting financial inclusion, and regulating electronic payment systems. Governments are implementing stringent standards and guidelines to ensure the safety and reliability of POS transactions, thereby fostering consumer trust and confidence in digital payment methods. Regulatory bodies often collaborate with industry stakeholders to establish frameworks that govern the deployment and operation of POS terminals, addressing issues such as data protection, fraud prevention, and interoperability across different payment networks. Additionally, some governments incentivize the adoption of POS technologies to accelerate digital payments adoption and drive economic growth. These regulatory efforts are pivotal in shaping the POS terminal market landscape in the region, ensuring compliance with international standards while supporting the expansion of digital payment infrastructure across various sectors including retail, hospitality, and banking.

Future insights of the market

The POS terminal market in the Middle East and Africa is expected to continue its robust growth trajectory. Key drivers include ongoing digitalization efforts across various industries, which prioritize efficient payment solutions. Innovations in POS technology will likely focus on enhancing security features, improving transaction speeds, and integrating advanced analytics capabilities to provide valuable business insights. Additionally, there will be a strong emphasis on developing POS solutions that cater to the region's diverse retail environments, including traditional markets and modern retail outlets. As regulatory frameworks evolve to support digital payments and e-commerce growth, the POS market is poised to expand further, driven by increasing consumer demand for seamless and secure payment experiences. Overall, the future of the POS terminal market in the Middle East and Africa looks promising, with opportunities for innovation and growth in both urban centers and emerging markets across the region.

Market Segmentation By POS Terminal Types

According to Ravi Bhandari, Research Head, 6Wresearch, mobile POS (mPOS) systems are experiencing the most significant growth in the Middle East and Africa. This trend is driven by increasing adoption among small and medium-sized enterprises (SMEs) and businesses in sectors such as hospitality, retail, and transportation. Mobile POS solutions offer flexibility and convenience, allowing transactions to be conducted anywhere, whether in-store or remotely.

Market Segmentation By End Users

The retail sector is currently experiencing the most significant growth in the POS terminal market. Retailers are increasingly adopting advanced POS solutions to streamline operations, enhance customer service, and manage inventory efficiently. The shift towards omnichannel retailing and the integration of digital payment options have fueled this growth, as retailers seek to meet the evolving expectations of tech-savvy consumers.

Market Segmentation By Countries

Among the countries in the Middle East, Saudi Arabia stands out as experiencing the most significant growth in the POS terminal market. The kingdom robust economic diversification efforts, coupled with ambitious digital transformation initiatives, are driving substantial investments in advanced payment technologies. Saudi Arabia retail sector, buoyed by increasing consumer spending and a shift towards digital payments, is a major driver of POS terminal adoption.

Key Attractiveness of the Report

• 10 Years of Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Middle East and Africa POS Terminal Market Overview
• Middle East and Africa POS Terminal Market Outlook
• Middle East and Africa POS Terminal Market Forecast
• Historical Data of Middle East and Africa POS Terminal Market Revenues for the Period 2020-2030
• Middle East and Africa POS Terminal Market Size and the Middle East and Africa POS Terminal Market Forecast of Revenues, Until 2030
• Historical Data of Middle East and Africa POS Terminal Market Revenues, by Terminal Types, for the Period 2020-2030
• Market Size & Forecast of Middle East and Africa POS Terminal Market Revenues, by Terminal Types, Until 2030
• Historical Data of Middle East and Africa POS Terminal Market Revenues, by End-Users, for the Period 2020-2030
• Market Size & Forecast of Middle East and Africa POS Terminal Market Revenues, by End-Users, Until 2030
• Historical Data of Saudi Arabia Point of Sale Terminal Market Revenues and Volume, for the Period 2020-2030
• Market Size & Forecast of Point of Sale Terminal Market Revenues and Volume, Until 2030
• Historical Data of Kuwait Point of Sale Terminal Market Revenues and Volume, for the Period 2020-2030
• Market Size & Forecast of Kuwait Point of Sale Terminal Market Revenues and Volume, Until 2030
• Historical Data of United Arab Emirates Point of Sale Terminal Market Revenues and Volume, for the Period 2020-2030
• Market Size & Forecast of United Arab Emirates Point of Sale Terminal Market Revenues and Volume, Until 2030
• Historical Data of Qatar Point of Sale Terminal Market Revenues and Volume, for the Period 2020-2030
• Market Size & Forecast of Qatar Point of Sale Terminal Market Revenues and Volume, Until 2030
• Historical Data of Bahrain Point of Sale Terminal Market Revenues and Volume, for the Period 2020-2030
• Market Size & Forecast of Bahrain Point of Sale Terminal Market Revenues and Volume, Until 2030
• Historical Data of Oman Point of Sale Terminal Market Revenues and Volume, for the Period 2020-2030
• Market Size & Forecast of Oman Point of Sale Terminal Market Revenues and Volume, Until 2030
• Historical Data of Turkey Point of Sale Terminal Market Revenues and Volume, for the Period 2020-2030
• Market Size & Forecast of Turkey Point of Sale Terminal Market Revenues and Volume, Until 2030
• Historical Data of Egypt Point of Sale Terminal Market Revenues and Volume, for the Period 2020-2030
• Market Size & Forecast of Egypt Point of Sale Terminal Market Revenues and Volume, Until 2030
• Historical Data of South Africa Point of Sale Terminal Market Revenues and Volume, for the Period 2020-2030
• Market Size & Forecast of South Africa Point of Sale Terminal Market Revenues and Volume, Until 2030
• Historical Data of Nigeria Point of Sale Terminal Market Revenues and Volume, for the Period 2020-2030
• Market Size & Forecast of Nigeria Point of Sale Terminal Market Revenues and Volume, Until 2030
• Historical Data of Rest of Middle East and Africa Point of Sale Terminal Market Revenues and Volume, for the Period 2020-2030
• Market Size & Forecast of Rest of Middle East and Africa Point of Sale Terminal Market Revenues and Volume, Until 2030
• Market Drivers and Restraints
• Middle East and Africa POS Terminal Market Trends
• Market Opportunity Assessment
• Middle East and Africa POS Terminal Market Share, By Countries
• Middle East and Africa POS Terminal Market Share, By Players
• Middle East and Africa POS Terminal Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The report offers a comprehensive study of the subsequent market segments

By POS Terminal Types

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

By End Users

• Hospitality
• Healthcare
• Retail
• Government & Transportation
• Others

By Countries

• Saudi Arabia
• Qatar
• UAE
• Kuwait
• Oman
• Turkey
• Bahrain
• Rest Of Middle East