Canada POS Terminal Market Size (2024 - 2029)

The Canada POS Terminal Market is experiencing growth driven by the increasing demand for contactless payments, a trend accelerated by the COVID-19 pandemic. The market's expansion is supported by the enhanced functionality and lower cost of ownership of modern POS systems, which have become integral to various industries such as retail, hospitality, and banking. These systems offer significant advantages, including real-time inventory management and accurate transactions, leading businesses to replace traditional billing methods. However, cybersecurity concerns pose challenges to the market's growth. The shift in consumer shopping behavior during the pandemic, with a rise in virtual consultations and contactless payments, is expected to sustain the demand for POS terminals in Canada.

Market Size of Canada POS Terminal Industry

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Canada POS Terminal Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 6.50 %
Market Concentration Medium

Major Players

Canada POS Terminal Market Key players

*Disclaimer: Major Players sorted in no particular order

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Canada POS Terminal Market Analysis

The Canada POS Terminal Market is expected to register a CAGR of 6.5 % during the forecast period. The COVID-19 pandemic has acutely affected point-of-sale transactions leading to declining overall payments due to the nationwide lockdown. However, the pandemic has also highlighted the importance of contactless payments across industries, creating demand for POS terminals in the forecast period.

  • The POS terminal market has grown considerably over the past few years due to an increased return on investment and ease of access observed. POS systems have gained importance in companies of all sizes over the years, facilitating transactions from the central component of businesses across industries, like retail, hospitality, transportation, and banking.
  • POS terminal systems have evolved significantly, from transaction-oriented terminals/devices to systems that integrate with the company's CRM and other financial solutions. This developed ecosystem has empowered the end-user industries with business intelligence to manage their revenue streams and inventory better. The deployment of POS systems has brought many advantages, like lower maintenance costs, real-time inventory, and accurate transactions. Given the practical benefits that the advanced POS systems offer, companies have replaced their traditional billing software with POS systems, thus, ensuring the maturation of the POS system market.
  • Compared to other payment channels, the low cost of ownership of POS systems has bolstered the growth considerably in Canada. The enhanced POS systems provide higher durability and reliability, leading to a lower cost of ownership, thus raising the demand for POS solutions in both medium and small-sized businesses compared to the traditional system.
  • One of the challenges to the market's growth is the cybersecurity concerns because of the use of sensitive information, making the systems susceptible to attacks to gain access and misuse, similar to any other connected machine. The terminals' communication with the rest of the network implies attackers could access unencrypted card data, including Track2 and PIN information, providing all the necessary information to steal and clone payment cards.
  • Further, the COVID-19 pandemic has significantly transformed how consumers shop, affecting several market verticals. The retail sector witnessed a drastic change through the pandemic. Canadian consumers have also increased their use of various sales methods, including virtual consultations, curbside pickup, contactless payment, and social commerce, i.e., shopping through social media. The new consumer behavior is expected to continue over the forecast period, affecting the demand for POS terminals across the country.

Canada POS Terminal Industry Segmentation

The POS Terminals market includes revenues generated from hardware, software, and services, managing the transaction during the sale of a product or a service. It helps collect, save, share, and report data regarding sales transactions.

The system eases the shopping experience, helping expedite the checkout process, and implying customer satisfaction. Inventory management, product availability, stock in hand, and pricing information are primary data acquired from the systems.

The various end-user industries include entertainment, retail, healthcare, and hospitality. The impact of COVID-19 on the market and affected segments are also covered under the scope of the study.

By Type
Fixed Point-of-sale Systems
Mobile/Portable Point-of-sale Systems
By End-user Industries
Retail
Hospitality
Healthcare
Others
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Canada POS Terminal Market Size Summary

The Canada POS Terminal Market is experiencing significant growth, driven by the increasing adoption of advanced payment solutions across various industries. The market has evolved from traditional transaction-oriented systems to integrated solutions that enhance business intelligence and operational efficiency. This transformation is largely due to the demand for contactless payment options, which gained prominence during the COVID-19 pandemic. The retail sector, in particular, is a major contributor to the market's expansion, as businesses seek to improve customer retention and streamline operations through sophisticated POS systems. The integration of features such as inventory management, sales reporting, and customer analytics has made POS terminals indispensable for retailers aiming to stay competitive in a rapidly changing market landscape.

Mobile POS systems are also gaining traction, offering flexibility and improved customer experiences by enabling transactions at the customer's location. The shift towards cloud-based solutions and Android-based operating systems has further fueled market growth, providing businesses with regularly updated and feature-rich POS systems. The competitive landscape in Canada is marked by strategic partnerships and innovations from key players like Samsung Electronics, Ingenico Group, and HP Development Company. These developments underscore the industry's focus on enhancing customer experiences and expanding the capabilities of POS terminals, positioning Canada as a dynamic market for payment solutions.

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Canada POS Terminal Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.2.1 Bargaining Power of Suppliers

      2. 1.2.2 Bargaining Power of Buyers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Intensity of Competitive Rivalry

      5. 1.2.5 Threat of Substitutes

    3. 1.3 Value Chain Analysis

    4. 1.4 Assesment of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Fixed Point-of-sale Systems

      2. 2.1.2 Mobile/Portable Point-of-sale Systems

    2. 2.2 By End-user Industries

      1. 2.2.1 Retail

      2. 2.2.2 Hospitality

      3. 2.2.3 Healthcare

      4. 2.2.4 Others

Canada POS Terminal Market Size FAQs

The Canada POS Terminal Market is projected to register a CAGR of 6.5% during the forecast period (2024-2029)

Samsung Electronics Co. Ltd, Ingenico Group, HP Development Company LP , Panasonic Corporation and NEC Corporation are the major companies operating in the Canada POS Terminal Market.

Canada POS Terminal Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)