Around US$ 1.5 billion was the estimated market size for outdoor payment terminals in 2022. Outdoor payment terminal sales are anticipated to increase rapidly throughout the forecast period at a CAGR of 10.3%, reaching US$ 4 billion by 2032.
Consumers in emerging nations are increasingly adopting smartphones and mobile payment methods, which is projected to increase demand for OPT. This is because, by employing NFC-enabled terminals, consumers can make purchases fast and securely using mobile payment programmes provided by providers such as Samsung Pay, Apple Pay, and Google’s Android Pay.
Furthermore, the fast use of OPTs by a variety of companies, including restaurants and petrol stations, is likely to boost the market’s outlook. The OPTs are linked to payment gateways, which help businesses, reduce maintenance and increase service uptime.
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Customers may use the OPTs to access facilities such as vehicle washes and petrol stations around the clock. It also helps to avoid congested situations at petrol stations and vehicle wash facilities, minimizing the time spent waiting for entry. The terminals are redundant, allowing for continuous and uninterrupted operation around the clock without the need for operator intervention.
Furthermore, OPTs provide EMV and PCI-compliant services while maintaining a consistent level of connectivity, making them anti-tamper, anti-vandalism, and anti-fraud devices.
Key Takeaways from the Market Study
- Global outdoor payment terminal market value to experience 2.6x from 2022-2032
- By application, outdoor payment terminals for refuel to account for 42% of global demand in 2022
- 38% of outdoor payment terminals to be deployed for the carwash industry
- By type, contact outdoor payment terminal to retain dominance, accumulating 2/3rd market value
- S to emerge as one of the most opportunistic market, accounting for 33% revenue
- China to be the fastest growing market in the Asia Pacific, registering a 9.7% CAGR
Competitive Landscape
Companies in the outdoor payment terminal industry strive to improve their product offerings in order to obtain a competitive advantage. As a result, players are spending on research and development to differentiate their products from competitors. To improve the user experience, OPT providers aim to include features like as multi-language and loyalty programs, among others, into their devices. Among the key companies in the outdoor payment terminal markets are:
- 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
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Recent key developments among players are:
- In February 2022, Invenco and FuelMedia TV entered into a strategic partnership. The collaboration leverages G7- and G9-Invenco pay-at-pump terminals, which give clients HD touch screens that enable sound, full sight, and motion video on a variety of screen sizes.
- In July 2022, Dover Fueling Solutions (“DFS”), a subsidiary of Dover and a leading global provider of advanced customer-focused technologies, services, and solutions in the fuel and convenience retail industries, has announced the introduction of several fuel dispenser models, a new point-of-sale (POS) system, and a next-generation automatic tank gauge (ATG) console.
- In January 2022 – NCR Corporation, a worldwide corporate technology company, announced that the previously announced acquisition of LibertyX, a prominent cryptocurrency software supplier, had been completed. LibertyX is an excellent strategic fit for NCR because it accelerates NCR’s ability to quickly deliver a complete digital currency solution to its customers, including the ability to buy and sell cryptocurrency, conduct cross-border remittance, and accept digital currency payments across digital and physical channels.
Key Segments Covered in the Outdoor Payment Terminal Industry Survey
Outdoor Payment Terminal Market by Type:
- Contactless Outdoor Payment Terminal
- Contact Outdoor Payment Terminal
Outdoor Payment Terminal Market by Application:
- Outdoor Payment Terminals for Refuel
- Outdoor Payment Terminals for Carwash
- Outdoor Payment Terminals for Malls
- Outdoor Payment Terminals for Other Applications
Outdoor Payment Terminal Market by Region:
- North America Outdoor Payment Terminal Market
- Europe Outdoor Payment Terminal Market
- Asia Pacific Outdoor Payment Terminal Market
- Latin America Outdoor Payment Terminal Market
- Middle East & Africa Outdoor Payment Terminal Market
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