Luxembourg POS Terminals Market Size (2024 - 2029)

Luxembourg POS Terminals Market Analysis

The Luxembourg POS Terminals Market is expected to register a CAGR of 8.10% during the forecast period(2024-2029).

• The POS terminal market has grown significantly over the past few years, owing to its ability to offer an increased return on investment and ease of access. POS systems that facilitate transactions from the central component of businesses across industries, like retail, hospitality, transportation, and banking, have gained importance in companies of small and big sizes over the years.
• In the current market scenario, POS terminal systems have evolved from transaction-oriented devices to systems that support and integrate into businesses' CRM and other financial solutions. This instance allowed companies to leverage captured transactional data through POS terminals to business intelligence.
• According to We Are Social, as of January 2022, Luxembourg had a total of 613,000 internet users. The total population internet usage in Luxembourg was highest in the Benelux region. As of 2022, the total number of internet users as a percentage of the total population in Luxembourg was 99%.
• The market's growth is hampered due to security concerns because of the usage of critical information. POS terminals are connected to the network and the internet, making them vulnerable to attacks to gain access to and manipulate it like any other insecure machine. The way the terminal communicates with the rest of the network means attackers could access unencrypted card data, including Track2 and PIN information, providing all the necessary information required to steal and clone payment cards.
• The COVID-19 pandemic significantly transformed the way consumers shop, affecting several verticals of the market. The retail sector witnessed a drastic change due to the pandemic. Consumers have also increased their use of various sales methods, such as curbside pickup, virtual consultations, contactless payment, and even social commerce, i.e., shopping through social media. According to the latest retail experts and shopper surveys, this new behavior is expected to stay over the forecast period.

Luxembourg POS Terminals Industry Segmentation

Fixed POS terminals include devices such as PC-based workstations, namely PC-class Processor-based and LAN-available terminals. Also, PC on Cash Drawer Devices (PCOCD) and self-checkout (unattended terminals) are part of the scope.

Mobile/portable devices such as tablets of all sizes and handheld terminals with or without payment processing capabilities are considered. This specific segment caters to those devices being used to process a transaction/information. mPOS systems are linked to traditional transaction peripherals, including credit card machines, receipt printers, or scanners, and run on tablets, for instance, allowing the user to process a transaction from anywhere on the floor or open a new lane/terminal quickly. Devices are considered with or without credit/debit readers.

The Luxembourg POS Terminals Market is segmented by Type (Fixed Point-of-sale Systems and Mobile/Portable Point-of-sale Systems) and End-user Industry (Retail, Entertainment, Hospitality, Healthcare, and Other end-users). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.