Kuwait POS Terminal Market (2020-2026) | Analysis, Trends, Value, COVID-19 IMPACT, Revenue, Growth, Industry, Outlook, Size, Share, Companies & Forecast

Kuwait POS terminal market is expected to register considerable growth principally due to improvement in payment infrastructure in the country. The acceptance of new technology, for instance, Europay, MasterCard, and contactless has shifted consumer’s preference from cash-based transactions towards digital payment mode in the country. The adoption of digital transactions has increased the demand for new payment modes and devices which can offer e-payment facilities to buyers. Additionally, the first digital bank in Kuwait is likely to be operational as one of the major telco providers in Kuwait has partnered with one of the six Islamic banks in October 2019, to introduce a digital platform for Shariah-compliant banking services and to strengthen the Islamic digital banking services in Kuwait. These initiatives will further spur the demand for the Kuwait POS terminal market during the forecast period.

According to 6Wresearch, Kuwait POS Terminal Market is projected to witness growth during 2020-26. The government’s efforts towards strengthening digital Islamic banking services, rise in Sharia-compliant banking, increasing usage of mobile wallets, technological advancement, as well as a rise in e-commerce and improvement in payment infrastructure, are some of the key growth drivers of the POS terminal market in Kuwait. However, the Kuwait POS terminal market is expected to witness a slowdown at the beginning of the year 2020 due to the outbreak of the Covid-19 pandemic and the market is expected to recover gradually over the next few years.

In terms of type, the portable and mobile POS terminals are registering significant growth in Kuwait. Additionally, the hospitality application is dominating the overall Kuwait POS terminal market due to increased spending on traveling services by tourists and pilgrims in the country. Currently, the healthcare application is witnessing considerable demand for POS terminals due to the outbreak of the Covid-19 pandemic in Kuwait as a large number of critical patients are admitted to hospitals.

The Kuwait POS terminal report thoroughly covers the market by type, by end-users, and by regions. Kuwait POS terminal market outlook report provides an unbiased and detailed analysis of the on-going Kuwait POS terminal market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies accordingly to the current and future market dynamics.

The Kuwait POS Terminal Market is expected to register significant growth prospects in the coming years backed by the rising use of digital transactions. The era of digitalization has led to an increase in the deployment of such devices and is leaving a positive impact on the growth of the Kuwait POS terminal market. The product has not gained a good market position and was at a very nascent stage until its evolution and proper industrial deployment owing to increased reliability of the population of the country towards cash transactions. Cash has always been the king in the country. However, with the active adoption of the product backed by the partnership of the Gulf Bank, Mastercard, and KNET to launch a pointless POS terminal to support card payments which not only leads to digital payment support to the consumer but also acts as a profit-making statement for the issuing bank, the payment gateway and the concerned payment receiving authority has become evident to make the product as ideal industrial product and with the increased access of the population of the country to bank credit and debit cards, the product deployment is anticipated to be increased in the coming time frame. 

Key Highlights of the Report:

• Kuwait POS Terminal Market Overview
• Kuwait POS Terminal Market Outlook
• Kuwait POS Terminal Market Forecast
• Kuwait POS Terminal Market Size and Kuwait POS Terminal Market Forecast Until 2026
• Kuwait POS Terminal Market Share, By Types
• Kuwait POS Terminal Market Share, By End Users
• Kuwait POS Terminal Market Share, By Regions
• Historical Data of Kuwait POS Terminal Market Revenues and Volume for the period, 2016-2019
• Market size and Forecast of Kuwait POS Terminal Market Revenues and Volume Until 2026
• Historical Data of Kuwait POS Terminal Market Revenues and Volume, By Types, for the Period 2016-2019
• Market size and Forecast of Kuwait POS Terminal Market Revenues and Volume, By Types, Until 2026
• Historical Data of Kuwait POS Terminal Market Revenues and Volume, By End Users, for the Period 2016-2019
• Market size and Forecast of Kuwait POS Terminal Market Revenues and Volume, By End Users, Until 2026
• Historical Data of Kuwait POS Terminal Market Revenues and Volume, By Regions, for the Period 2016-2019
• Market size and Forecast of Kuwait POS Terminal Market Revenues and Volume, By Regions, Until 2026
• Kuwait POS Terminal Market Drivers and Restraints
• Kuwait POS Terminal Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• Kuwait POS Terminal Market Opportunity Assessment
• Kuwait POS Terminal Market Revenue Share, By Company
• Kuwait POS Terminal Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The Kuwait POS terminal market report provides a detailed analysis of the following market segments:

• By Type
  • Portable
  • Countertop
  • Mobile POS
  • PIN Pad
  • Multimedia
• By End Users
  • Hospitality
  • Retail
  • Government & Transportation
  • Healthcare
  • Others

Frequently Asked Questions About the Market Study (FAQs):