Press release
Ireland POS Terminals Market to Attain a Valuation of USD 1,021.9 Million By 2030 | Infinium Global Research
The Infinium Global Research analyzes the Ireland POS Terminals Market over the period of 2023 to 2030. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in Ireland POS terminals market. It will help a lot of decision makers to develop strategies and find new opportunities in the Ireland markets of POS terminals. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the POS terminals market during the period. The Ireland POS terminals market was valued at USD 550.8 Million in 2022 and is expected to reach USD 1,021.9 Million by 2030 and grow at a CAGR of 8.06% over the forecast period.
To Know More Request a Sample of this Report: https://www.infiniumglobalresearch.com/ireland/sample-request/3246
Card Penetration on the Rise
Ireland is experiencing a significant shift in payment methods, with a surge in card payments. Paying with cash is becoming less popular as consumers embrace card-based transactions. Data from the Central Bank of Ireland reveals a substantial 9 percent increase in card payments, amounting to 17.2 billion euros in the first three months of 2019 compared to 2018. Furthermore, by the end of March, over 6 million active debit and credit cards were in circulation. Bank credit card penetration reached 38.4% in 2017, according to the National Central Bank.
The adoption of contactless payment technology has also been remarkable, with over 3 million contactless payments per week in Ireland since its introduction in 2012. Government policies have supported this shift, implementing a debit card interchange fee cap of 0.1%, providing cost savings for merchants and enhancing the attractiveness of card-based payments. The growing card penetration in Ireland provides a significant boost to the POS terminal market in the country.
Retail Revolution Drives Adoption
The retail industry, a major user of POS terminals, is undergoing a transformation that is propelling the demand for these systems. The retail sector in Ireland is a powerhouse, employing over 280,000 people and contributing 23% of the State's tax revenues. The past decade has witnessed a substantial transformation in the Irish retail landscape, driven by increased competition, evolving consumer behaviors, and technology innovation.
Consumer confidence has been boosted by Ireland's recovering economy, leading to increased expenditure. According to the Christmas Retail Monitor 2019 report, consumer spending reached nearly €5 billion in December 2019 alone. Growth in retail sales between 2017 and 2020 has been driven by population growth, ranging from 1.2% to 2.2% per annum. This growth is particularly evident among the 25 to 34-year-old age groups.
Security Concerns Pose Challenges
Despite the positive outlook, the ubiquity of POS terminals also presents security challenges. POS systems are vulnerable to cyberattacks due to the unencrypted transmission of payment card data and the use of operating systems like Microsoft Windows that are susceptible to malware attacks. Attacks on transmission networks and servers can compromise an entire POS network, making them challenging to protect. Addressing security concerns remains a critical challenge for the market's growth.
E-commerce and Healthcare Opportunities
The rise of e-commerce and social media in Ireland has transformed the payments landscape. As per studies, 81% of the population uses the internet, with online spending expected to reach €14 billion by 2021. This growing influence of e-commerce positions Ireland as an attractive market for virtual POS merchants seeking to tap into the country's evolving payment preferences.
Hospitals and healthcare facilities in Ireland are also beginning to implement POS systems, enhancing patient convenience and cost savings. As the country's population ages rapidly, with the 80 and above age group expected to grow by up to 94% by 2030, the use of POS systems in healthcare is anticipated to rise significantly.
For deeper insights and comprehensive profiles of leading companies in the Ireland POS terminals market, including Epos solution, CBE concannon group, New Payment Innovation (NPI), paymentPlus, and Elavon Financial Services DAC, please refer to the full market research report.
Enquire Here Get Customization & Check the Discount for the Report @ https://www.infiniumglobalresearch.com/ireland/customization/3246
Table of Content
Chapter 1. Report Overview
1.1. Report Description
1.2. Research Methods
1.3. Research Approaches
Chapter 2. Executive Summary
Chapter 3. Market Overview
3.1. Introduction
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.2.4. Challenges
3.3. PEST-Analysis
3.4. Porter's Diamond Model for Ireland POS Terminals Market
3.5. IGR-Growth Matrix Analysis
3.6. Competitive Landscape in Ireland POS Terminals Market
Chapter 4. Ireland POS Terminals Market by Components
4.1. Software
4.2. Hardware
Chapter 5. Ireland POS Terminals Market by Type
5.1. Mobile Point-of-sale Terminals
5.2. Fixed Point-of-sale Terminals
Chapter 6. Ireland POS Terminals Market by Application
6.1. Retail
6.2. Restaurant
6.3. Hospitality
6.4. Healthcare
6.5. Entertainment
6.6. Others
Chapter 7. Ireland POS Terminals Market by Deployment
7.1. Cloud
7.2. On-premise
Chapter 8. Company Profiles
8.1 Elavon Financial Services DAC
8.1.1 Overview
8.1.2 Company Snapshot
8.1.3 Product Portfolio
8.1.4 Product Portfolio
8.2 Epos Solutions
8.2.1 Overview
8.2.2 Company Overview
8.2.3 Product Portfolio
8.3 CBE Concannon Group
8.3.1 Overview
8.3.2 Company Overview
8.3.3 Product Portfolio
8.3.4 Recent Development
8.4 New Payment Innovation Limited
8.4.1 Overview
8.4.2 Company Overview
8.4.3 Product Portfolio
8.5 PaymentPlus
8.5.1 Overview
8.5.2 Company Overview
8.5.3 Product Portfolio
8.6 MasterCard
8.6.1 Overview
8.6.2 Company Overview
8.6.3 Product Portfolio
8.6.4 Recent Development
More Insights on this report, Speak to Our Analyst: https://www.infiniumglobalresearch.com/ireland/enquiry/3246
Reasons to Buy this Report:
=> Comprehensive analysis of regional markets of Ireland POS terminals.
=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2030.
=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.
2nd Floor, Ganadish Empire, Rahatani Chowk, Pimple Saudagar, Pimpri-Chinchwad, Maharashtra 411027
About Infinium Global Research:
Infinium Global Research is a business consulting and market research firm; a group of experts that caters to fulfilling business and market research needs of leading companies in various industry verticals and business segments. The company also serves government bodies, institutes, and non-profit/non-government organizations to meet their knowledge and information needs.
Through our information services and solutions, we assist our clients to improve their performance and assess the market conditions to achieve their organizational goals. Our team of experts and analysts are engaged in continuously monitoring and assessing the market conditions to provide knowledge support to our clients. To help our clients and to stay updated with the advances and inventions in technology, business processes, regulations, and the environment, Infinium often conducts regular meets with industry experts and opinion leaders. Our key opinion leaders are involved in monitoring and assessing the progress in the business environment, so as to offer the best opinion to our clients.
To Know More Request a Sample of this Report: https://www.infiniumglobalresearch.com/ireland/sample-request/3246
Card Penetration on the Rise
Ireland is experiencing a significant shift in payment methods, with a surge in card payments. Paying with cash is becoming less popular as consumers embrace card-based transactions. Data from the Central Bank of Ireland reveals a substantial 9 percent increase in card payments, amounting to 17.2 billion euros in the first three months of 2019 compared to 2018. Furthermore, by the end of March, over 6 million active debit and credit cards were in circulation. Bank credit card penetration reached 38.4% in 2017, according to the National Central Bank.
The adoption of contactless payment technology has also been remarkable, with over 3 million contactless payments per week in Ireland since its introduction in 2012. Government policies have supported this shift, implementing a debit card interchange fee cap of 0.1%, providing cost savings for merchants and enhancing the attractiveness of card-based payments. The growing card penetration in Ireland provides a significant boost to the POS terminal market in the country.
Retail Revolution Drives Adoption
The retail industry, a major user of POS terminals, is undergoing a transformation that is propelling the demand for these systems. The retail sector in Ireland is a powerhouse, employing over 280,000 people and contributing 23% of the State's tax revenues. The past decade has witnessed a substantial transformation in the Irish retail landscape, driven by increased competition, evolving consumer behaviors, and technology innovation.
Consumer confidence has been boosted by Ireland's recovering economy, leading to increased expenditure. According to the Christmas Retail Monitor 2019 report, consumer spending reached nearly €5 billion in December 2019 alone. Growth in retail sales between 2017 and 2020 has been driven by population growth, ranging from 1.2% to 2.2% per annum. This growth is particularly evident among the 25 to 34-year-old age groups.
Security Concerns Pose Challenges
Despite the positive outlook, the ubiquity of POS terminals also presents security challenges. POS systems are vulnerable to cyberattacks due to the unencrypted transmission of payment card data and the use of operating systems like Microsoft Windows that are susceptible to malware attacks. Attacks on transmission networks and servers can compromise an entire POS network, making them challenging to protect. Addressing security concerns remains a critical challenge for the market's growth.
E-commerce and Healthcare Opportunities
The rise of e-commerce and social media in Ireland has transformed the payments landscape. As per studies, 81% of the population uses the internet, with online spending expected to reach €14 billion by 2021. This growing influence of e-commerce positions Ireland as an attractive market for virtual POS merchants seeking to tap into the country's evolving payment preferences.
Hospitals and healthcare facilities in Ireland are also beginning to implement POS systems, enhancing patient convenience and cost savings. As the country's population ages rapidly, with the 80 and above age group expected to grow by up to 94% by 2030, the use of POS systems in healthcare is anticipated to rise significantly.
For deeper insights and comprehensive profiles of leading companies in the Ireland POS terminals market, including Epos solution, CBE concannon group, New Payment Innovation (NPI), paymentPlus, and Elavon Financial Services DAC, please refer to the full market research report.
Enquire Here Get Customization & Check the Discount for the Report @ https://www.infiniumglobalresearch.com/ireland/customization/3246
Table of Content
Chapter 1. Report Overview
1.1. Report Description
1.2. Research Methods
1.3. Research Approaches
Chapter 2. Executive Summary
Chapter 3. Market Overview
3.1. Introduction
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.2.4. Challenges
3.3. PEST-Analysis
3.4. Porter's Diamond Model for Ireland POS Terminals Market
3.5. IGR-Growth Matrix Analysis
3.6. Competitive Landscape in Ireland POS Terminals Market
Chapter 4. Ireland POS Terminals Market by Components
4.1. Software
4.2. Hardware
Chapter 5. Ireland POS Terminals Market by Type
5.1. Mobile Point-of-sale Terminals
5.2. Fixed Point-of-sale Terminals
Chapter 6. Ireland POS Terminals Market by Application
6.1. Retail
6.2. Restaurant
6.3. Hospitality
6.4. Healthcare
6.5. Entertainment
6.6. Others
Chapter 7. Ireland POS Terminals Market by Deployment
7.1. Cloud
7.2. On-premise
Chapter 8. Company Profiles
8.1 Elavon Financial Services DAC
8.1.1 Overview
8.1.2 Company Snapshot
8.1.3 Product Portfolio
8.1.4 Product Portfolio
8.2 Epos Solutions
8.2.1 Overview
8.2.2 Company Overview
8.2.3 Product Portfolio
8.3 CBE Concannon Group
8.3.1 Overview
8.3.2 Company Overview
8.3.3 Product Portfolio
8.3.4 Recent Development
8.4 New Payment Innovation Limited
8.4.1 Overview
8.4.2 Company Overview
8.4.3 Product Portfolio
8.5 PaymentPlus
8.5.1 Overview
8.5.2 Company Overview
8.5.3 Product Portfolio
8.6 MasterCard
8.6.1 Overview
8.6.2 Company Overview
8.6.3 Product Portfolio
8.6.4 Recent Development
More Insights on this report, Speak to Our Analyst: https://www.infiniumglobalresearch.com/ireland/enquiry/3246
Reasons to Buy this Report:
=> Comprehensive analysis of regional markets of Ireland POS terminals.
=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2030.
=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.
2nd Floor, Ganadish Empire, Rahatani Chowk, Pimple Saudagar, Pimpri-Chinchwad, Maharashtra 411027
About Infinium Global Research:
Infinium Global Research is a business consulting and market research firm; a group of experts that caters to fulfilling business and market research needs of leading companies in various industry verticals and business segments. The company also serves government bodies, institutes, and non-profit/non-government organizations to meet their knowledge and information needs.
Through our information services and solutions, we assist our clients to improve their performance and assess the market conditions to achieve their organizational goals. Our team of experts and analysts are engaged in continuously monitoring and assessing the market conditions to provide knowledge support to our clients. To help our clients and to stay updated with the advances and inventions in technology, business processes, regulations, and the environment, Infinium often conducts regular meets with industry experts and opinion leaders. Our key opinion leaders are involved in monitoring and assessing the progress in the business environment, so as to offer the best opinion to our clients.
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