Tablet POS Systems Market Size, Share, Growth, and Industry Analysis, By Type (Card Reader, Chip-and-Pin Reader, Other), By Application (Retail, Restaurant, Hospitality Industry, Other), Regional Insights and Forecast to 2031

Updated On: 22 April 2024

Tablet POS Systems Market Report Overview

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The global tablet POS systems market size was USD 1289.34 million in 2021. As per our research, the market is expected to reach USD 2001.25 million by 2027, exhibiting a CAGR of 7.6% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with the tablet POS systems market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. This sudden rise in CAGR can be attributed to the market's growth and demand returning to pre-pandemic levels.

Tablet POS systems represent a revolutionary advancement in the way businesses conduct transactions and manage orders. These systems leverage the mobility of tablets to process transactions, monitor inventory, and enhance customer service on the go. They find widespread use in various sectors, including retail, restaurants, and the hospitality industry. Their versatility and adaptability make them an attractive solution for businesses looking to stay competitive in an evolving market landscape.

Tablet POS systems market growth is attributed to several key factors. First and foremost is the increasing mobility in business operations, driven by the need for flexibility and efficiency. Businesses across industries are recognizing the advantages of tablet-based solutions, which allow them to conduct sales, manage orders, and track inventory from virtually anywhere. Additionally, the market's growth is fueled by the enhanced customer engagement that tablet POS systems facilitate. These systems enable businesses to offer personalized services, gather valuable customer data, and streamline loyalty programs, all of which contribute to stronger customer relationships and revenue growth.

COVID-19 Impact: Demand Surged Due to Increased Demand for Contactless Payments

The impact of COVID-19 on the market for tablet (POS) systems was significant and far-reaching. One of the notable consequences of the pandemic was the heightened demand for contactless payments. These systems played a pivotal role in enabling customers to make contactless payments using their smartphones or credit cards. This feature not only streamlined the payment process but also helped reduce the risk of spreading COVID-19, as customers and businesses alike embraced safer, touchless payment methods.

The pandemic also accelerated the growth of e-commerce and the demand for omnichannel retail experiences. With lockdowns and social distancing measures in place, online shopping surged, and customers increasingly expected a seamless blend of online and offline retail. The versatility of these systems proved instrumental in helping retailers integrate their online and physical sales channels, offering a more cohesive and convenient shopping experience. Businesses that had already adopted these systems were better equipped to meet the rising demand for omnichannel retail, allowing customers to shop, pay, and receive services seamlessly, whether in-store or online.

Furthermore, the need for flexible and mobile POS solutions became more evident than ever during the pandemic. These portable and adaptable systems became the go-to choice for businesses looking to navigate the changing landscape of social distancing guidelines and evolving customer preferences. They allowed businesses to quickly adapt to new operational challenges, providing a versatile tool that could be easily reconfigured to meet safety requirements while maintaining efficient service.

Latest Trends

"Integrating Loyalty Programs and CRM Tools to Enhance Customer Understanding and Personalization"

The latest trends in tablet POS systems reflect a continuous evolution towards increased sophistication and functionality. These systems are continually incorporating technological advancements, providing businesses with powerful tools to enhance their operations. One noteworthy trend is the integration of loyalty programs into these systems. This integration allows businesses to reward and incentivize customers for repeat business, fostering increased customer engagement and loyalty.

Additionally, the integration of Customer Relationship Management (CRM) tools enables businesses to track customer interactions and preferences, providing valuable insights to improve the customer experience and boost sales. Furthermore, tablet POS systems can seamlessly integrate with inventory management systems, providing real-time tracking of inventory levels, thereby preventing stockouts and ensuring product availability.

Beyond these advancements, tablet (POS) systems benefit from broader technological innovation, featuring faster processors, advanced displays, and longer-lasting batteries, making them more powerful, versatile, and durable. This technological progress aligns with the growing demand for these POS systems, driven by factors such as contactless payments, the rise of e-commerce and omnichannel retail, the need for adaptable and mobile POS solutions, and the increasing adoption of cloud-based POS systems.

Tablet POS Systems Market Segmentation

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•  By Type Analysis

The market can be segmented into card readers, chip-and-pin readers, and other types.

Among these, the card reader segment holds a dominant position in the market, owing to its widespread adoption across various industries.

• By Application Analysis

In terms of application, the market covers a wide spectrum, including retail, restaurants, the hospitality industry, and others.

The retail sector is a prominent user of these systems, given their efficiency in managing sales and inventory.

Driving Factors

"Growing Need for Mobility in Business Operations to Drive Market Growth"

Tablet point-of-sale (POS) systems have emerged as a game-changer in various industries, driven by the growing need for mobility in business operations. Businesses, particularly in the hospitality and service sectors, have harnessed the advantages of these systems, allowing them to process transactions and manage inventory on the go. The ability to conduct sales seamlessly while enhancing customer service has made tablet POS systems an indispensable tool in today's business landscape.

"Enhanced Customer Engagement to Propel Market’s Expansion"

One of the key factors propelling this market is their role in enhancing customer engagement. These systems empower businesses to collect valuable customer data, tailor personalized promotions, and streamline loyalty programs effectively. Features like digital receipts and interactive menus not only improve the overall customer experience but also foster stronger customer relationships. This, in turn, drives repeat business and contributes to revenue growth.

Restraining Factor

"Cyberattacks, Data Breaches, and Physical Theft to Raise Security Concerns"

A notable restraining factor in the market is the pronounced security vulnerability these systems face. These POS systems store sensitive customer data, including credit card information, names, and addresses, making them lucrative targets for cyberattacks. Data breaches, malware infections, and the risk of physical theft pose significant security challenges, potentially leading to identity theft, fraud, system malfunctions, and operational disruptions. These security concerns underscore the need for robust protective measures to safeguard both business and customer data, inhibiting the market's growth potential.

Tablet POS Systems Market Regional Insights

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"North America to Lead Due to Region’s High Demand for Contactless Payments"

North America holds the largest tablet POS systems market share, with several key drivers. Early technology adoption by North American businesses has spurred widespread adoption of these systems. The region's robust economy empowers businesses to invest in such innovations. High demand for contactless payments and the rapid growth of e-commerce and omnichannel retail further solidify North America's market dominance.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Adyen (Netherlands)
• VeriFone Inc (U.S.)
• Intuit (U.S.)
• INGENICO (France)
• PAX (China)
• PayPal (U.S.)
• Payleven (Germany)
• Newland (China)
• Square (U.S.)
• CHARGE Anywhere (U.S.)
• IZettle (Sweden)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.