UiPOS has investigated the German POS terminal market and found that the economic, technological, and market conditions across different regions of Germany are well-suited to support the sector’s development. The European POS terminal market is projected to be valued at USD 20.94 million in 2024 and is expected to reach USD 38.23 million by 2029, with a compound annual growth rate of 12.80% during the forecast period (2024–2029).
Several factors are driving the growth of the German POS terminal market, as summarised by UiPOS:
1. Technological advancements play an important role in the expansion of the German POS terminal market, enabling businesses to improve their return on investment and enhance accessibility. The deployment of POS terminals across Europe is helping businesses across various industries to manage increasing transaction volumes.
2. The evolution of POS terminal systems from simple transaction-processing devices to integrated solutions that support corporate CRM and financial systems has significantly influenced the market. The transformation allows businesses to utilise transaction data captured by POS terminals to enhance business intelligence.
3. The European Commission’s efforts to simplify merchant payment acceptance facilities have also driven market growth. As part of its retail payments strategy, the European Commission will introduce an action plan in 2025 to support the modernisation and simplification of payment acceptance facilities within the EU. This initiative will involve providing guidance and raising awareness among retailers.
4. Regulatory developments at both regional and national levels have increased demand for new POS terminals and system upgrades. For instance, the PSD2 regulations have introduced various requirements to strengthen in-store face-to-face payments, further driving the need for updated POS solutions.
However, despite its ongoing development, the POS terminal market also faces certain challenges. For example, a lack of awareness regarding the benefits of contactless payments means that some consumers remain unfamiliar with mobile transactions, making it difficult for them to send or receive funds via mobile wallets or related applications. The could hinder market growth in some areas.
Overall, the German POS terminal market is experiencing rapid growth, with the increasing adoption of mobile payments and intelligent technologies presenting new opportunities for the industry.