The global outdoor payment terminal market size is expected to reach USD 2.9 billion by 2030, according to a new study conducted by Grand View Research, Inc. The market is expected to witness a CAGR of 8.7% from 2022 to 2030. Smartphone-based transactions are one type of payment method frequently used at the Outdoor Payment Terminal (OPT) at the global level. This is because of the rising consumer awareness about the security features such as facial recognition and biometric software offered by smartphone-based payments.
Key Industry Insights & Findings from the report:
- The contactless payment segment is expected to witness the fastest growth over the forecast period. The introduction of contactless payment platforms aggressively by some of the major companies such as RazorPay and PayU worldwide is expected to drive the growth of the segment.
- The refuel segment is expected to witness the fastest growth over the forecast period. Reduced waiting time and multiple payment options at fuel stations by using OPT platform are expected to play a decisive role in driving the segment growth
- The Asia Pacific regional market is expected to witness the fastest growth over the forecast period owing to the developing IT infrastructure in the region which will enable developing countries like China and India to utilize OPTs more effectively.
Read 130-page market research report, “Outdoor Payment Terminal Market Size, Share & Trends Analysis Report By Type (Contactless Payment Terminal, Contact Payment Terminal), By Application, By Region, And Segment Forecasts, 2022 – 2030“, published by Grand View Research.
Outdoor Payment Terminal Market Growth & Trends
There is an increasing need for digital payment solutions, especially in small-scale businesses, which is expected to drive market growth. Small businesses possess dynamic growth potential; by adopting OPTs, they can utilize their capabilities better, and can thereby improve operational efficiency. Thus the growing number of small businesses is expected to create new opportunities for the market.
The real-time payment capabilities of OPTs enable users to make payments 24/7. Adopting this technology helps business owners save on costs and meet the latest security standards. As a result, leading companies across the globe are adopting online payment culture, which is anticipated to boost the demand for the OPT portals. The pandemic outbreak has contributed positively to the industry’s growth. Major hospitals and other essential service providers have shifted from traditional payment terminals to more advanced outdoor payment terminals. Further, the growing digitalization and the introduction of technology-based payment terminals powered by prominent players such as Invenco and Verifone are some of the major reasons associated with market growth over the forecast period.
Outdoor Payment Terminal Market Segmentation
Grand View Research has segmented the global outdoor payment terminal market based on type, application, and region
Outdoor Payment Terminal Market – Type Outlook (Revenue, USD Million, 2017 – 2030)
- Contactless Payment Terminal
- Contact Payment Terminal
Outdoor Payment Terminal Market – Application Outlook (Revenue, USD Million, 2017 – 2030)
Outdoor Payment Terminal Market – Regional Outlook (Revenue, USD Million, 2017 – 2030)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
List of Key Players in Outdoor Payment Terminal Market
- NCR Corporation
- Gilbarco Inc.
- Invenco Group Ltd.
- Verifone, Inc.
- Dover Fueling Solutions
- Scheidt & Bachmann GmbH
- Apple Inc.
- Temenos AG
- Capgemini SE
- Finastra Group Holdings Limited
Check out more related studies published by Grand View Research:
- Face-swiping Payment Market – The global face-swiping payment market size is expected to reach USD 18.46 billion by 2030, expanding at a CAGR of 18.9% from 2022 to 2030, according to a new study conducted by Grand View Research, Inc. The rise in digitalization led by the COVID-19 pandemic and the increasing penetration of the internet across the globe is anticipated to drive market growth. For instance, according to the Digital 2021, Global Overview Report, almost 4.66 billion people worldwide had access to and used the internet as of January 2021.
- Cryptocurrency Payment Apps Market – The global cryptocurrency payment apps market size is expected to reach USD 2.15 billion by 2030, growing at a CAGR of 16.6% from 2022 to 2030, according to a new study conducted by Grand View Research, Inc. The growing adoption of blockchain technology is anticipated to drive the growth of the market. The increased emphasis cryptocurrency payment app providers are putting on offering enhanced payment solutions also bodes well for the growth of the market.
- Payment Instruments Market – The global payment instruments market size is expected to reach USD 364.86 billion by 2030, growing at a CAGR of 14.3% from 2022 to 2030, according to a new study conducted by Grand View Research, Inc. The growing use of smartphones has enabled consumers to opt for payment platforms such as mobile wallets, scan to pay, and others for making payments, thereby driving the market growth. Moreover, consumer awareness about multiple payment systems such as a tap on the go, scan to pay, and other options and increasing expectations for secure and fast payments contribute significantly to market development.
Browse through Grand View Research’s Next Generation Technologies Industry Research Reports.