Outdoor payment terminals, often known as OPTS, are Unattended payment terminals that let consumers utilizing contactless or contact payment methods quick and secure self-service transaction options. The need for outdoor payment terminals is being driven by several other causes, including growing customer knowledge of online transactions, fingerprint and face recognition technology, accessibility to online clothes, and items for groceries and electricity. Outdoor payment terminals enable customers to benefit from services and pay effortlessly without the need for additional workers in end-user businesses that see significant daily transaction volumes, such as gas stations. Outdoor payment terminals enhance transaction processes’ security, effectiveness, and flexibility. The use of outdoor payment terminals also improves customer service, boosts service availability around-the-clock, and lowers operating expenses by removing the requirement for staff to handle transactions. Additionally, communication between outside payment terminals and management systems enhances monitoring and control of transaction processes.
Increasing penetration of smartphones and rise in adoption of cloud-based OPTs and AI integration is boosting the growth of the global outdoor payment terminal (OPT) market. In addition, growing preference to non-cash transactions is positively impacts growth of the outdoor payment terminal (OPT) market. However, security issues and privacy concerns and high deployment and maintenance cost is hampering the outdoor payment terminal (OPT) market growth. On the contrary, rising adoption of OPT solutions among SMEs is expected to offer remunerative opportunities for expansion of the outdoor payment terminal (OPT) market during the forecast period.
The outdoor payment terminal (OPT) market is segmented on the basis of by type, application, and region. On the basis of type, the market is categorized into contact payment, and contactless payment. On the basis of application, the market is fragmented into refuel, carwash, malls, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players that operate in the outdoor payment terminal (OPT) market are Apple Inc., Capgemini SE, dover fueling solutions, Finastra Group Holdings Limited, Gilbarco Inc, Invenco Group Ltd., Scheidt & Bachmann GmbH, Temenos AG, NCR Corporation, and Verifone, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
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Information about key drivers, restraints, and opportunities and their impact analysis on global outdoor payment terminal (OPT) market trend is provided in the report.
The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the market from 2022 to 2032 is provided to determine the market potential.
Increasing penetration of smartphones and rise in adoption of cloud-based OPTs and AI integration is boosting the growth of the global outdoor payment terminal (OPT) market. In addition, growing preference to non-cash transactions is positively impacts growth of the outdoor payment terminal (OPT) market. However, security issues and privacy concerns and high deployment and maintenance cost is hampering the outdoor payment terminal (OPT) market growth. On the contrary, rising adoption of OPT solutions among SMEs is expected to offer remunerative opportunities for expansion of the outdoor payment terminal (OPT) market during the forecast period.
The outdoor payment terminal (OPT) market is segmented on the basis of by type, application, and region. On the basis of type, the market is categorized into contact payment, and contactless payment. On the basis of application, the market is fragmented into refuel, carwash, malls, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players that operate in the outdoor payment terminal (OPT) market are Apple Inc., Capgemini SE, dover fueling solutions, Finastra Group Holdings Limited, Gilbarco Inc, Invenco Group Ltd., Scheidt & Bachmann GmbH, Temenos AG, NCR Corporation, and Verifone, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
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Key Benefits For Stakeholders
The study provides an in-depth analysis of the global outdoor payment terminal (OPT) market forecast along with the current and future trends to explain the imminent investment pockets.Information about key drivers, restraints, and opportunities and their impact analysis on global outdoor payment terminal (OPT) market trend is provided in the report.
The Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the market from 2022 to 2032 is provided to determine the market potential.
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Key Market Segments
By Type
- Contact Payment
- Contactless Payment
By Application
- Refuel
- Carwash
- Malls
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- NCR Corporation
- Verifone, Inc
- Temenos AG
- Scheidt & Bachmann GmbH
- Gilbarco Inc
- Finastra Group Holdings Limited
- Invenco Group Ltd.
- Capgemini SE
- Apple Inc.
- Dover Fueling Solutions
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: OUTDOOR PAYMENT TERMINAL (OPT) MARKET, BY TYPE
CHAPTER 5: OUTDOOR PAYMENT TERMINAL (OPT) MARKET, BY APPLICATION
CHAPTER 6: OUTDOOR PAYMENT TERMINAL (OPT) MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to this report, the outdoor payment terminal (opt) market was valued at $1.6 billion in 2022, and is estimated to reach $4.8 billion by 2032, growing at a CAGR of 11.8% from 2023 to 2032.Outdoor payment terminals (opts) are unattended payment terminals that provide customers with secure and quick self-service transaction options using contact or contactless payment methods. In addition, OPT provides control over any fuel dispenser at a petrol station from OPT and from a point of sale (PoS) system. It is used to remotely gather data and for analyzing the sale of fuel at the outlet. It has a customer-friendly interface and a design that significantly reduces maintenance issues. Moreover, OPT systems are designed to maximize the service uptime of the terminal, reduce maintenance, and increase the serviceability of the terminals. The systems are made highly realiable and are tested to withstand various harsh outdoor environmental climate conditions and fluctuations such as temperature, water, and dust resistance, and anti corrosion.
Key factors driving the growth of the outdoor payment terminal market include Increasing penetration of smartphones, rise in adoption of cloud-based OPTs and AI integration, and growing preference to non-cash transactions. Rise in adoption of cloud-based and artificial intelligence (AI) driven the outdoor payment terminal solutions among enterprises and small merchants aids market growth. In addition, AI-based services in system are gaining popularity and increasing across developing countries such as U. S., UK, France, and others. Moreover, several leading players in the market are developing cloud and AI-based OPT systems and software to remain competitive. For instance, in October 2019, Invenco released Invenco-i2, a monthly-payment solution. The new product aimed to retrofit the key dispenser brands known across the United States forecourts. It is also linked with Invenco Cloud Services to enable remote key Injection as well as software upgrades. This factor has led to a surge in demand for cloud based OPTs, thereby fueling the growth of the market.
The market also offers growth opportunities to the key players in the market. Small businesses are implementing OPT systems to benefit from the host of benefits associated with them. Moreover, effective OPT systems allow business owners to reduce time spent on business administration by offering relevant reports to help speed up decision-making in a timely manner. In addition, the technological capability of wireless OPT systems to interconnect with smartphones or tablets via a mobile card reader is increasing their adoption in several areas. In addition, the low installation cost of mobile point-of-sale systems and their capacity to deliver value-added services for long-term operations are the primary factors attracting the attention of merchants and retailers. Furthermore, public governance systems favor the deployment of the most effective mobile outdoor payment terminal due to their capacity to transmit transparent pricing and money transfer information. As a result of these reasons, the market for outdoor payment terminal is expected to expand throughout the forecast period.
The Outdoor payment terminal market is segmented into type, application, and region. on the basis of by type, application, and region. On the basis of type, the market is categorized into contact payment, and contactless payment. On the basis of application, the market is fragmented into refuel, carwash, malls, and others. Region wise, it is analyzed across North America (the U. S., Canada), Europe (the UK, Germany, France, Spain, Italy, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East and Africa).
The key players profiled in the study include Apple Inc., Capgemini SE, dover fueling solutions, Finastra Group Holdings Limited, Gilbarco Inc, Invenco Group Ltd., Scheidt & Bachmann GmbH, Temenos AG, NCR Corporation, and Verifone, Inc. The players in the market have been actively engaged in the adoption various strategies such as acquisition, and partnership to remain competitive and gain advantage over the competitors in the market. For instance, in January 2023, Sophos launched Sophos Network Detection and Response (NDR) and it's already providing real-world value for organizations looking to elevate the defence against sophisticated attackers and zero-day threats.
Key Market Insights
By type, the contact payment segment was the highest revenue contributor to the market, and is estimated to reach $2.85 billion by 2032, with a CAGR of 10.7%. However, the contactless payment segment is estimated to be the fastest growing segment with the CAGR of 13.8% during the forecast period.By application, the refuel segment dominated the global market, and is estimated to reach $1.14 billion by 2032, with a CAGR of 9.6%. However, the malls segment is expected to be the fastest growing segment with the CAGR 14.5% during the outdoor payment terminal market forecast.
Based on region, North America was the highest revenue contributor, accounting for $576.8 million in 2022, and is estimated to reach $1.42 billion by 2032, with a CAGR of 9.8%.
Companies Mentioned
- NCR Corporation
- Verifone, Inc
- Temenos AG
- Scheidt & Bachmann GmbH
- Gilbarco Inc
- Finastra Group Holdings Limited
- Invenco Group Ltd.
- Capgemini SE
- Apple Inc.
- Dover Fueling Solutions
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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