The Europe SoftPoS Market would witness market growth of 19.8% CAGR during the forecast period (2023-2030).
Micro-merchants can benefit from SoftPoS because it is a simple, low-value transaction solution. Small and micro-merchants can benefit significantly from SoftPoS and provide their clients with a seamless and cost-effective checkout option. The pandemic has changed people's payment preferences. The proportion of consumers who prefer to use their debit cards to make contactless payments has grown at the expense of those who prefer to use their debit cards with a PIN code.
As 90 percent of debit cards are contactless-enabled, debit card contactless payments are significantly more prevalent than smartphone contactless payments. Surprisingly, although fewer people used cash after the lockdowns than before, this share of people that preferred cash decreased minutely after the pandemic. The invention of NFC technology has prompted consumers to make both small and large mobile payments. The widespread use of mobile payments, including apps and digital wallets, has prompted non-payment technology companies to enter the payment landscape, which is projected to expand the market. In addition, technology has advanced due to the growing use of smartphones in developing nations.
According to the International Trade Administration, the largest FinTech subsector consists of digital payments made through mobile POS or digital commerce. Digital payments in Germany are anticipated to expand at a pace of 14% annually, matching the global average, and will increase from $140.4 billion in annual transaction value in 2020 to $274.8 billion in 2025. In Spain, people between the ages of 19 and 24 are online, and as they enter the marketplace, they are particularly interested in app-based online payment methods. With the rise in digital payments numbers, the market is estimated to grow in the European region.
The Germany market dominated the Europe SoftPoS Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $69.6 Million by 2030. The UK market is estimated to witness a CAGR of 18.8% during (2023 - 2030). Additionally, The France market would showcase a CAGR of 20.7% during (2023 - 2030).
Based on End-User, the market is segmented into Retail, Restaurants/Hospitality, Service Based Business, and Others. Based on Enterprise Type, the market is segmented into Small Business and Medium Business. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide SoftPoS Market is Projected to reach USD 1.04 Billion by 2030, at a CAGR of 20%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Worldline (Ingenico Group), CM.com N.V., EMI Global Corp (M4Bank), Fime SAS, Wizzit (Pty) Ltd, Tidypay AS, Bindo Labs, Inc., Fairbit LLC, Alcinéo, Asseco Group (Asseco Poland S.A.).
By End-User
By Enterprise Type
By Country
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 