Turkey Point of Sale Terminal Market Synopsis
Turkey Point of Sale Terminal market has experienced significant growth in recent years due to the growing preference for credit and debit cards as primary payment methods. The government has supported this trend through infrastructure improvements, financial inclusion programs, and digitalization efforts. By December 2022, 94 million people were using mobile banking services, with 357 million transactions in the last quarter. Turkey's economy heavily relies on private consumption, accounting for over 55% of GDP. Government measures, including employment and credit support initiatives, have led to low-interest-rate policies encouraging borrowing and spending.
According to this research, Turkey Point of Sale Terminal Market size is projected to grow at a CAGR of 6.0% during 2024E-2030F. The Turkey Point of Sale Terminal industry is expected to experience significant growth in the coming years due to the increasing adoption of cloud-based technologies and technological advancements. The digital payments market is projected to grow by 15.78% from 2023 to 2027, reaching a market volume of US $136.90 billion by 2027. The e-commerce sector is also experiencing a surge, with forecasts indicating a substantial increase to $55.2 billion by 2025, driven by a 24% annual growth rate. This growth is a result of consumer shift towards online shopping and the demand for efficient and secure terminals.
Market Segmentation by Types
Portable Point of Sale Terminals have a dominant share in the overall Turkey market, while fixed terminals also have a significant share in the market on account of the enormous retail infrastructure of the country.
Market Segmentation by Technology
Countertop Point of Sale Terminals have a dominant volume share in the Turkey market, while integrated terminals have acquired a major share of revenue owing to the high cost of these systems, and these are also widely deployed in major retail outlets in the country.
Market Segmentation by Application
The retail and hospitality sectors attained a significant chunk of the market revenue share in 2023, and it is anticipated that it will keep that position throughout the projection period owing to the widespread use of payment cards for retail purchases and hotel checkouts to save time and hassle-free transactions.
Key Attractiveness of the Report
- 11 Years of Market Numbers.
- Historical Data Starting from 2020 to 2023.
- Base Year: 2023
- Forecast Data until 2030.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report
- Turkey Point of Sale Terminal Market Overview
- Turkey Point of Sale Terminal Market Outlook
- Turkey Point of Sale Terminal Market Forecast
- Historical Data and Forecast of Turkey Point of Sale Terminal Market Revenue & Volume, for the Period 2020-2030F
- Historical Data and Forecast of Turkey Point of Sale Terminal Market Revenue & Volume, By Technology, for the Period 2020-2030F
- Historical Data and Forecast of Turkey Point of Sale Terminal Market Revenue & Volume, By Types, for the Period 2020-2030F
- Historical Data and Forecast of Turkey Point of Sale Terminal Market Revenue & Volume, By Applications, for the Period 2020-2030F
- Market Drivers and Restraints
- Market Trends
- Industry Life Cycle
- Porter’s Five Force Analysis
- Impact Analysis of COVID-19
- Turkey Point of Sale Terminal Market Opportunity Assessment
- Turkey Point of Sale Terminal Market Company Ranking, By Revenue
- Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
By Types
- Fixed
- Portable
By Technology
- Counter Top
- Integrated
- Smart
- Mobile
By Application
- Retail
- Entertainment
- Hospitality
- Healthcare
- Others (Fuel Stations, Constructions, etc.)
Table of Contents
Companies Mentioned
- Verifone Systems, Inc
- PAX Technology
- Diebold Nixdorf INC
- Toshiba Corporation
- Ingenico Group
- Square, Inc.
