Middle East and Africa Point of Sale (PoS) Market Size, Share & COVID-19 Impact Analysis, By Component (Hardware, PoS Terminal Software), By Type (Fixed PoS, Mobile PoS, and Others), By Deployment (On-Premise and Cloud-based), By Operating System (Windows/Linux, Android, and iOS), By End-user (Restaurants, Retail, Entertainment, and Others), and Regional Forecasts, 2023-2030

The Middle East and Africa Point of Sale (PoS) market size is projected to grow at a CAGR of 16.8% during the forecast period. The global market for PoS systems is projected to grow from USD 25.28 billion in 2022 to USD 81.15 billion by 2030.

The Middle East and Africa (MEA) is a growing region for Point of Sale terminals. According to our market research analysis, MEA is projected to retain the second-highest CAGR among other regions during the forecast period. The adoption of electronic payments is increasing, particularly in urban areas and more developed economies such as the United Arab Emirates (U.A.E) and South Africa. Despite challenges, such as limited infrastructure, the market is expected to continue to grow at a healthy rate, driven by economic development and digital transformation in the region.

LATEST TRENDS

Surging Integration of Digital Wallets to Drive the Market Growth

The demand for PoS systems in MEA is significantly increasing, which are being integrated with popular digital wallets such as Apple Pay, Samsung Pay, and Google Pay. This integration allows customers to make purchases using their mobile devices, and it also enables merchants to offer rewards and loyalty programs to consumers who utilize their digital wallets. For instance, UAE-based payment provider Network International partnered with Samsung Pay to enable its merchants to accept payments from Samsung Pay.

Several leading players in the market are integrating digital wallets, as a market trend to enhance consumer experience and to remain competitive in the market.

DRIVING FACTORS

High Mobile Penetration to Fuel the Market Growth

Mobile penetration is high in the region, which is driving the adoption of mobile PoS terminals in the market. According to a report by GSMA, the mobile internet user count in the MEA region surpassed 300 million, and it is projected to attain 50% population penetration by the end of 2022. While the Gulf Cooperation Council (GCC) Arab states have the highest concentration of mobile internet users, low adoption rates in other areas indicate that there are still requirements for bridging the digital divide and bringing offline population online. This enables a significant opportunity for PoS providers to offer mobile-based payment solutions that cater to this emerging market.

Thus, increasing usage of mobile devices and digital transactions is estimated to expand the Middle East and Africa Point of Sale market share.

RESTRAINING FACTORS

Lack of Trust Factor in Digital Payments to Impede the Market Growth

In some parts of the region, some customers still prefer to use cash rather than digital payment methods such as wallets and cashless transfers in particular areas where cash is the dominant form of payment. This is partly due to lack of trust in digital payments, which are perceived as less secure and more prone to fraud.

Thus, lack of trust in digital payments due to potential fraud may hinder the Middle East and Africa Point of Sale market growth.

KEY INDUSTRY PLAYERS

Regional Key Players are Establishing their Market Position with Continuous Deployments

The Middle East and Africa Point of Sale market is consolidated by leading players such as Network International LLC, Intellect Design Area Ltd., Foodics, POSRocket, and Kopo Kopo. These key players are expanding their product lineup by deploying advanced PoS terminals with compliant features such as ERP module, and inventory management, among others and adopting strategies such as mergers, acquisitions, product launches, collaborations, and partnerships.

List of Key Companies Profiled:

• Network International LLC (U.A.E)


• DukkanTek (U.A.E)


• Skiplino (Bahrain)


• Intellect Design Arena Ltd (India)


• PAX Global Technology Limited (China)


• Foodics (U.A.E)


• POSRocket (Jordan)


• NextTotal (SolutionDot) (U.A.E)


• Ingenico Group (France)


• Kopo (Kenya)

KEY INDUSTRY DEVELOPMENTS:

• September 2022: Intellect Design Arena Ltd. launched its cloud-based, in-store PoS solution coined 6DX in the MEA region. The platform was aimed to revolutionize the retail experience in stores, including hypermarkets, fashion and lifestyle, and supermarkets. It utilizes a microservices-based, API first, headless, and cloud-native architecture that is integrated into the retailer’s existing technology and provides seamless unified consumer experience.


• August 2022: Dukkantek, a UAE-based company that offers store management platforms, raised USD 10 million in funding. The company focused on small and medium sized retailers aims to further expand its business in Europe and the Middle East & Africa, with their seamless PoS solutions.


• August 2022: Razorpay acquired Ezetap, a digital payment solution provider in Singapore. Ezetap provides PoS solutions and caters to industries such as insurance, FMCG, hospitality and restaurants, and retail services operating in the UAE and India.


• January 2022: Foodics, a Saudi Arabia-based restaurant technology service provider, acquired POSRocket, which primarily provided PoS software. This acquisition enabled Foodics consumers to access their ecosystem in managing payments, capital spending, and infrastructure.


• April 2021: Paytab launched PT Touch, which was a MENA origin PoS solution. The solution transformed consumer’s smartphones into merchant’s point of sale terminals by utilizing NFC, Bluetooth, and PoS software.

REPORT COVERAGE

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The report provides a comprehensive analysis of the market including qualitative and quantitative insights as well as detailed evaluation of the Point of Sale (PoS) market size and growth rate including all potential market segments. It also presents an in-depth analysis of the market dynamics, emerging trends, and competitive landscape.

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