POS Terminal Market Share in 2016: Who Came Out on Top?

The point of sale (POS) system has evolved greatly with the advancement in technology over the years. In 2016, the POS terminal market witnessed a significant shift as new players entered the arena. This article presents a comprehensive analysis of the POS terminal market share in 2016. We will examine the market share distribution, the factors that influenced it, and the top players that emerged as the winners.

Market Share Distribution

In 2016, the global POS terminal market was dominated by a few players who collectively held the majority of the overall market share. According to a report by Mordor Intelligence, in 2016, Ingenico Group held the largest market share followed closely by Verifone. These two giants collectively held approximately 60% of the market share. Other notable players in the market include Pax Technology, Toshiba Tec Corporation, and NEC Corporation.

Factors Influencing the Market Share

Several factors contributed to the change in the market share distribution. Key among them is the shift towards EMV technology. After the EMV liability shift in 2015, merchants needed to upgrade their POS terminals to accept chip cards. This drove demand for EMV-enabled terminals, and many businesses turned to leading manufacturers for these solutions. As a result, companies such as Ingenico and Verifone, who specialize in producing such terminals, saw a significant increase in revenue.

Another factor that influenced the market share in 2016 was the rise of mPOS solutions. Mobile POS (mPOS) solutions gained popularity among small and medium-sized businesses as they offer a low-cost option compared to traditional POS systems. Ingenico and Verifone capitalized on this opportunity and introduced new mPOS solutions that attracted many new customers, thereby increasing the market share for both companies.

Top Players in the POS Terminal Market

Ingenico Group

Ingenico Group emerged as the leading global provider of payment solutions with a 31% market share in 2016, according to a report by Mordor Intelligence. The company designs, manufactures, and sells POS terminals, mPOS solutions, and payment software to merchants worldwide. Ingenico's success in the market is attributed to its innovative and secure solutions that cater to the demands of both merchants and consumers.

Verifone

Verifone is a global leader in providing payment solutions and services and is also one of the largest producers of POS terminals globally. In 2016, Verifone held a 28% market share, according to Mordor Intelligence. The company offers a broad range of payment and commerce-enabling solutions, including POS terminals, prepayment solutions, and mobile banking services.

Pax Technology

Pax Technology is a leading provider of electronic payment solutions with a focus on research and development, digital marketing, and providing comprehensive end-to-end payment solutions. The company ranked third in the POS terminal market with 9% market share in 2016, according to Mordor Intelligence. Pax Technology invests heavily in research and development, which has enabled the company to expand its portfolio of products and services and maintain its position in the market.

Toshiba Tec Corporation

Toshiba Tec Corporation is a leading provider of retail, POS, and auto-ID solutions. The company holds 6% market share in the POS terminal market according to Mordor Intelligence. Toshiba Tec delivers innovative and user-friendly products and is known for its reliability, security, and sustainability.

NEC Corporation

NEC Corporation provides innovative systems and services in information and communication technology (ICT) and holds 5% market share in the POS terminal market according to Mordor Intelligence. The company offers a comprehensive range of payment and digital solutions, including POS terminals and mPOS solutions. NEC is dedicated to creating value for its customers by providing solutions that are secure, reliable, and efficient.

Conclusion

In conclusion, in 2016, the POS terminal market witnessed a significant shift as new players entered the arena, and established players refined their solutions to cater to the needs of businesses. Ingenico and Verifone emerged as the dominant players, with Pax Technology, Toshiba Tec Corporation, and NEC Corporation holding smaller, but still significant, market shares. The shift towards EMV technology and mPOS solutions were significant factors that influenced the market share distribution. Overall, the market was highly competitive, and vendors are continuing to innovate to keep up with changing consumer demands and stay ahead of the competition.