UAE Point-Of-Sale Terminal Market

UAE Point-Of-Sale Terminal Market Overview

A point-of-sale terminal is a type of hardware used for processing card payments at different locations. A software that is used to read the magnetic strips of debit and credit cards is integrated inside the hardware. A point-of-sale terminal is also known as a computerized replacement for cash register and has the ability to read the information on the customer’s card, check the availability of the funds, and transfer the funds to the seller’s account from the customer’s account.

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Major UAE Point-Of-Sale Terminal Market Drivers

The major factors that are responsible for proliferating the growth of the UAE point-of-sale terminal market share, in terms of revenue, include the increasing adoption of contactless or NFC payment and the growing demand for the mobile POS terminal in the country. In addition, the growing penetration of cloud-based technologies and the rising number of cashless transactions across the country are also some key factors that are augmenting the growth of the UAE point-of-sale terminal market over the forecast period.

Various government initiatives such as the UAE Vision 2021 to encourage the adoption of cashless payment is further bolstering the growth of the market in the upcoming years. 80 percent of the point-of-sale payments among the RBWM customers made with Emirates NBD in the country were cashless. Furthermore, the COVID-19 pandemic has surged the adoption of contactless payments in the UAE as individuals now prefer to transfer money online via different platforms rather than exchanging cash notes.

Restraint in the UAE Point-Of-Sale Terminal Market

The factors which are responsible for hampering the growth of the UAE point-of-sale terminal market include the concerns related to the security of the data and the shortage of reliable infrastructure.

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Product – Segment Analysis

Based on the product, the mobile POS terminal segment is projected to increase at a higher CAGR during the forecast period. The adoption of mobile POS terminal has increased across the country owing to the various benefits provided by this product, which includes the ability to improve the operational efficiency & shopping conversions, improve customer experience, increase security, and decrease the customer’s wait time, and others. In addition, the rising trend of the implementation of wireless technology in mobile handsets such as iPhone and Samsung is another factor that is further driving the market growth.

Application – Segment Analysis

On the basis of the application, the retail segment is estimated to grow at a higher CAGR during the forecast period. The major factors which are accelerating the growth of the market include the significant shift in the retailer’s choice towards accepting cashless payments in the stores and changing consumer preference towards non-cash transactions across the country. Moreover, various benefits offered by point-of-sale terminal to the retailers which includes its ability to enable the inventory tracking across multiple outlets, enhance the customer service, and secure the customer’s data among others are further fuelling the growth of the market.

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Key Developments: 

• • In 2020, NCR Corporation launched an innovative technology that develops confidence among the diners’ by enabling them to both pay and order through their own mobile device. It has launched a point-of-sale and restaurant management platform called NCR Aloha to provide contactless payment and ordering for an enhanced dine-in experience.
  • In 2019, Diebold Nixdorf, Incorporated, launched DN Series, which is a family of self-service solutions and equipped with modern configuration and interface to improve the financial institutions’ efforts to appeal to their consumers and their specific needs. 

Segments covered in the Report:

The UAE point-of-sale terminal market has been segmented on the basis of product, component, deployment, and application. Based on the product, the market is segmented into the mobile POS terminal and fixed POS terminal. Based on the component, the market is segmented into hardware, software, and services. Based on the deployment, the market is segmented into the cloud and on-premises. Based on the application, the market is segmented into hospitality, warehouse, healthcare, retail, entertainment, and others. 

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Market Segmentation

UAE Point-Of-Sale Terminal Market by Product

• • Mobile POS Terminal
  • Fixed POS Terminal

UAE Point-Of-Sale Terminal Market by Component

• • Hardware
  • Software
  • Services

UAE Point-Of-Sale Terminal Market by Deployment

• • Cloud
  • On-Premises

UAE Point-Of-Sale Terminal Market by Application

• • Hospitality
  • Warehouse
  • Healthcare
  • Retail
  • Entertainment
  • Others