Handheld Terminals Market Size, Share, Growth, and Industry Analysis, By Type (Full Screen Machine and Key Press), By Application (Express, Logistics, Retail, Manufacturing, Medical, Power, Transportation), Regional Insights, and Forecast To 2032

Updated On: 08 April 2024

Handheld Terminals Market REPORT OVERVIEW

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global handheld terminals market size was USD 3574.4 million in 2022 and market is projected to touch USD 7766.89 million by 2032 at CAGR 8.1% during the forecast period. 

Handheld terminals are portable electronic devices that combine the functionality of a computer with the convenience of mobility. The market for handheld terminals is growing exponentially owing to several driving factors. The broader trend toward mobile solutions across industries is significantly driving market demand. Companies are increasingly adopting mobile devices and handheld terminals to improve operational efficiency, productivity, and real-time data access. Industries such as logistics, manufacturing, and retail require real-time data for inventory management, order processing, and supply chain optimization. Handheld terminals facilitate quick and accurate data capture and transmission. Additionally, the retail sector, both online and brick-and-mortar stores, continues to be a major driver as handheld terminals are increasingly used for inventory management, price checking, and order processing. As well as technological advancement and the growing adoption of contactless payment are also ascribed to fuel the demand for handheld terminals.    

COVID-19 Impact:  Augmented Emphasis on Contactless Operations Spiked the Demand for the Product

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels. During the pandemic, there was a heightened focus on contactless operations to minimize physical contact and reduce the risk of virus transmission which increased the demand for handheld terminals significantly in retail and hospitality settings where touchless transactions became a priority. Consequently, the market experienced a spike in demand and revenue during the pandemic. While the industry may eventually recover as the situation improves, the immediate impact of COVID-19 was predominantly negative for the global market.

LATEST TRENDS

"Integration of Advanced Technologies Broaden Market Prospects"

The market has been witnessing the integration of advanced technologies, such as artificial intelligence (AI) and machine learning, into handheld terminals. These technologies enhance data processing capabilities, predictive analytics, and decision-making. The integration of AI and ML contributes to the automation of certain tasks, reducing the burden on human operators. For instance, in manufacturing, handheld terminals with AI capabilities can autonomously identify defects in products and improve overall quality control processes. Additionally, manufacturers have been placing a greater emphasis on improving the user experience of handheld terminals with intuitive interfaces, ergonomic designs, and user-friendly applications to enhance overall usability.

Handheld Terminals Market SEGMENTATION

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• By Type

Based on type the global market can be categorized into Full Screen Machine and Key Press

The choice between full screen machines and key press devices often depends on the specific use case and industry requirements. Industries with a focus on a user-friendly interface and visual interaction prefer full screen machines, while those requiring rapid and tactile data entry may opt for key press devices. In addition, key press is the largest segment of the market.

• By Application

Based on application the global market can be categorized into Express, Logistics, Retail, Manufacturing, Medical, Power, Transportation

Each application segment has unique requirements and handheld terminals are tailored to meet the specific challenges and needs of these industries. For Instance, logistics-focused devices may prioritize durability and data capture capabilities, while retail-focused devices may emphasize a user-friendly interface and mobile point-of-sale functionalities. Based on the leading application, express holds the highest market share. 

DRIVING FACTORS

"Growing Demand for Mobility Solutions to Surge Product Sales"

The growing emphasis on mobility in the business environment is anticipated to raise the handheld terminals market growth. As businesses across industries are recognizing the value of providing employees with mobile tools for improved efficiency, real-time data access, and flexibility in operations, the demand for these terminals is expected to propel over this forecast period.

"Increasing E-Commerce Activities & Technological Advancements to Drive Growth of the Market"

Along with this, the surge in e-commerce activities and the adoption of omnichannel retail strategies are likely to increase the need for efficient and mobile solutions. These handheld terminals play a crucial role in areas such as order fulfilment, inventory management, and mobile point-of-sale (mPOS) systems in the retail sector. As well as ongoing advancements in technology, including improvements in processing power, connectivity options, and data capture technologies also contribute to the development of more powerful and feature-rich handheld terminals. 

RESTRAINING FACTOR

High Initial Costs to Limit Market Expansion

Besides the driving factors, the market also has some constraints such as the high cost of the product which can hamper the market progress. The upfront costs associated with implementing handheld terminal solutions, including device acquisition, software integration, and training, can be a bottleneck for some businesses, particularly small and medium-sized enterprises (SMEs).

Handheld Terminals Market REGIONAL INSIGHTS

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"Asia Pacific to Dominate the Market due to Diverse Consumer Base"

The Asia Pacific region is emerging as a strong player in the global handheld terminals market and showcasing considerable potential for dominance. The region is projected to lead the market due to rapid economic growth, a massive and diverse consumer base, and robust technological infrastructure in countries such as China, India, Japan, and others. These emerging nations are witnessing a surge in the adoption of handheld terminals across various industries. In terms of market revenue, China acquires the majority of the handheld terminals market shares. Furthermore, the region's status as a manufacturing hub has led to the widespread integration of these devices into production processes. 

KEY INDUSTRY PLAYERS

"Key Players Focus on Invest in Digital Transformation to Stay Ahead of Market Competition"

Global market players play a pivotal role in the market for handheld terminals with their highest profit revenue. Leading companies prioritize global presence, forming strategic partnerships, and adapting to emerging trends. With a customer-centric focus, they invest in digital transformation, optimize supply chains, and build strong brands through effective marketing. Moreover, agility and flexibility in organizational culture enable them to quickly respond to market changes.

List of Market Players Profiled

• Honeywell (U.S.)
• DENSO WAVE (Japan)
• UROVO TECHNOLOGY CO., LTD. (China)
• Panasonic Corporation (Japan)
• Datalogic (Italy)
• Fujian Newland Auto-ID Tech. Co., Ltd. (China)
• Casio (Japan)
• Jiangsu Seuic Technology Co., Ltd. (China)

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.