According to SPER Market Research, the Outdoor Payment Terminal Market is estimated to reach USD 3.60 billion by 2032 with a CAGR of 8.96%. Outdoor payment terminals, often known as OPTS, are Unattended payment terminals that let consumers utilising contactless or contact payment methods quick and secure self-service transaction options.Market development is being driven by rising smartphone adoption, acceptance of cloud-based solutions, and customer demand for quicker payment settlements. However, it is anticipated that high implementation costs and heightened market competition would restrain industry growth.On the other hand, the industry for outdoor payment terminals may see opportunity in the rise in internet-of-things adoption. The work-from-home lifestyle and rising e-commerce demand also helped the outdoor payment terminal (OTP) industry expand globally during the pandemic.
The COVID-19 outbreak has had a substantial effect on the market for Outdoor Payment Terminal (OPT).The COVID-19 pandemic outbreak is projected to have a significant impact on the market for outdoor payment terminals. The number of people doing contactless transactions has surged since the outbreak. It is expected that the market would benefit from customers and merchants turning to contactless payment methods to stop the virus’s spread. Due to the growing worries about payment security, retail merchants also make sure to offer a safe platform to their clients with the deployment of OPTs.
Outdoor Payment Terminal Market Overview (2022-2032)
- Forecast CAGR (2022-2032): 8.96%
- Forecast Market Size (2032): 3.60 billion
Retail merchants also make sure to provide a secure platform to their customers with the implementation of OPTs in response to the rising concerns about payment security. As a result of the rising trend of cashless transactions during COVID-19, the OPT market is predicted to grow significantly as consumers and companies alike rely on touchless ways of transactions out of worry for the virus’s spread. Due to the outbreak, the market for outdoor payment terminals has benefitted. The surge of e-commerce demand and the work-from-home lifestyle have both propelled the growth of the outdoor payment terminal sector.
Impact of COVID-19 on the Outdoor Payment Terminal Market
Nearly every business has been impacted by the unmatched worldwide public health emergency known as COVID-19, and the long-term impacts are expected to have an influence on industry growth throughout the course of the projection period.The COVID-19 pandemic outbreak is projected to have a significant impact on the market for outdoor payment terminals. The number of people doing contactless transactions has surged since the outbreak. It is expected that the market would benefit from customers and merchants turning to contactless payment methods to stop the virus’s spread. Due to the growing worries about payment security, retail merchants also make sure to offer a safe platform to their clients with the deployment of OPTs.OPT market is anticipated to expand dramatically as a result of the increased trend of cashless transactions during COVID-19 as consumers and businesses alike rely on touchless modes of transactions out of concern about the transmission of the virus. As a result, the market for outdoor payment terminals has benefited from the epidemic. The expansion of the outdoor payment terminal (OTP) industry has also been accelerated by the work-from-home lifestyle and the rise in e-commerce demand.
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Outdoor Payment Terminal Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2030. This report contains statistics on product type segment growth estimates and forecasts.
By Product Type:
- Contact-based Payment Terminal
- Contactless Payment Terminal
- IT and Telecommunications
By Deployment Modes:
- North America
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Outdoor Payment Terminal Market Key Players:
The Global Outdoor Payment Terminal Market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; ACI WorldwideInc., Apple Inc., Bank of American Corporation, Capgemini SE, Dover Corporation, Fidelity National Information Services Inc., Finastra Group Holdings Limited, Finastra Group Holdings Limited (Vista Equity Partners), Fiserv Inc., Gilbarco Inc., Global Payments Inc., IDTECH, Invenco Group Ltd., Mastercard Inc., Montran Corporation, NCR Corporation, PayPal Holdings Inc., S.W.I.F.T. SC, Scheidt& Bachmann GmbH, Temenos AG, VeriFone HoldingsInc. Visa Inc., Wayne Fueling System.
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