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Mexico POS Terminals Market Size (2024 - 2029)

The Mexico POS market is experiencing significant growth, driven by the transition from traditional billing systems to advanced POS terminals that integrate with CRM and financial solutions. This evolution allows businesses to manage revenue and inventory more effectively, contributing to the market's expansion. The retail sector is leading this growth as retailers adopt POS systems to streamline transactions and enhance customer experiences by integrating inventory and marketing data. The rise in consumer spending and the blending of online and offline retail practices are further propelling the demand for POS terminals. However, security concerns related to internet connectivity pose challenges to the market's growth.

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Market Size of Mexico POS Terminals Industry

Mexico POS Terminals Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 1.57 Billion
Market Size (2029) USD 2.49 Billion
CAGR (2024 - 2029) 9.69 %
Market Concentration Medium

Major Players

Mexico POS Terminals Market Major Players

*Disclaimer: Major Players sorted in no particular order

Mexico POS Terminals Market Analysis

The Mexico POS Terminals Market size is estimated at USD 1.57 billion in 2024, and is expected to reach USD 2.49 billion by 2029, growing at a CAGR of 9.69% during the forecast period (2024-2029).

POS terminal systems have changed from transaction-oriented terminals and devices to systems that can interact with the company's CRM and other financial solutions. With the assistance of this innovation, end users can now better manage their revenue streams and inventory due to business information.

  • The main benefits of POS systems include lower maintenance costs, precise transactions, and real-time inventories. Due to the practical advantages of modern POS systems, businesses have switched from using old billing software to POS systems, guaranteeing the expansion of POS systems. The study tracks the fixed and mobile POS terminals used in different industries, such as retail, hospitality, healthcare, and others.
  • The Mexican POS terminals market is expanding fastest in retail. Several retailers in Mexico are switching to straightforward transactions to prevent long waiting lines and transaction delays. 
  • To provide individualized, interactive, and distinctive customer experiences, merchants are now combining the POS system with inventory, merchandising, marketing, and Customer Relationship Management (CRM) data. The POS's consumer mapping application has also seen increased use due to the increasing focus on consumer behavior.
  • According to the National Institute of Statistics and Geography (INEGI), consumer spending in Mexico rose by 1.5 percent quarter-over-quarter to MXN 12.76 trillion (USD 655.9 billion) in the second quarter of 2022. The rise in consumer spending directly impacted the demand for POS terminals as a means of an easy payment option. Furthermore, the growth in e-commerce and the entangling of brick-and-mortar and online retail practices are also expected to affect the future growth of POS terminals. With the option of payment on delivery provided by major e-commerce platforms in the region, a sudden surge in the adoption of mobile POS terminals has been recognized.
  • Due to using critical information, security concerns have become a challenge to the market's growth. POS terminals are connected to the internet and network, making them vulnerable to attacks to gain access and manipulate it like any other insecure machine. Attackers could access unencrypted card data, including PIN and Track2 information, providing all the information required to steal and clone payment cards.

Mexico POS Terminals Industry Segmentation

A point of sale (POS) terminal is a digital electronic gadget that allows businesses to take payments without directly reading cards through their cash registers. It functions via a mix of hardware and software. Devices are used to accept card/cash payments, manage inventory, print invoices, etc., in various end-use industries, including restaurants, hotels, healthcare, retail, warehouse/distribution, and entertainment. The POS terminal is operated through two types of products: wired or fixed POS terminal and mobile or wireless POS terminal.

Mexico's POS terminals market is segmented by type (fixed point-of-sale systems, mobile/portable point-of-sale systems) and end-user industry (retail, hospitality, healthcare).

The market sizes and forecasts are provided in terms of value USD for all the above segments.

By Type
Fixed Point-of-sale Systems
Mobile/Portable Point-of-sale Systems
By End-User Industry
Retail
Hospitality
Healthcare
Other End-User Industries
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Mexico POS Terminals Market Size Summary

The Mexican POS terminals market is experiencing significant growth, driven by the transition from traditional billing software to advanced POS systems that integrate with CRM and financial solutions. This evolution allows businesses to manage revenue streams and inventory more effectively, offering benefits such as reduced maintenance costs, accurate transactions, and real-time inventory management. The retail sector is the fastest-growing segment, with retailers adopting POS systems to streamline transactions and enhance customer experiences. The increasing focus on consumer behavior and the integration of POS systems with inventory, merchandising, and marketing data are further propelling market expansion. The rise in consumer spending and the growth of e-commerce, coupled with the blending of online and brick-and-mortar retail practices, are also contributing to the demand for POS terminals in Mexico.

The market is characterized by a semi-consolidated structure, with key players like Ingenico Mexico SA De CV, WizarPOS, and Diebold Nixdorf Inc. actively participating. These companies are leveraging strategies such as partnerships and acquisitions to enhance their offerings and maintain a competitive edge. The retail industry, with its substantial number of stores, presents a significant opportunity for POS terminal providers to innovate and capture market share. The increasing adoption of mobile POS systems and the integration of core functions like sales reporting and customer management are expected to further drive market growth. Additionally, the rise of fintech companies and digital banking solutions is fostering a shift towards cashless transactions, further boosting the demand for POS terminals in the region.

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Mexico POS Terminals Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Value Chain Analysis

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Buyers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Threat of Substitutes

      5. 1.3.5 Intensity of Competitive Rivalry

    4. 1.4 Assessment of the Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Type

      1. 2.1.1 Fixed Point-of-sale Systems

      2. 2.1.2 Mobile/Portable Point-of-sale Systems

    2. 2.2 By End-User Industry

      1. 2.2.1 Retail

      2. 2.2.2 Hospitality

      3. 2.2.3 Healthcare

      4. 2.2.4 Other End-User Industries

Mexico POS Terminals Market Size FAQs

The Mexico POS Terminals Market size is expected to reach USD 1.57 billion in 2024 and grow at a CAGR of 9.69% to reach USD 2.49 billion by 2029.

In 2024, the Mexico POS Terminals Market size is expected to reach USD 1.57 billion.

Mexico POS Terminals Market Report Snapshots

Mexico POS Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)