The size of the global market for outdoor payment terminals is anticipated to reach USD 3.0 billion by 2030. From 2022 to 2030, the market is anticipated to grow at a CAGR of 8.7%. One form of payment technique that is often employed at the Outdoor Payment Terminal (OPT) on a global scale is smartphone-based transactions. This is a result of consumers' growing knowledge of the security tools provided by smartphone-based payments, like facial recognition and biometric software.
Over the projected period, the contactless payment segment is anticipated to develop at the fastest rate. The aggressive launch of contactless payment platforms by some of the biggest companies, such RazorPay and PayU, is anticipated to fuel the segment's growth.
Over the projected period, the refuel segment is anticipated to develop at the fastest rate. Reduced wait times and a variety of payment alternatives offered by the OPT platform at petrol stations are anticipated to significantly contribute to the segment's growth.
Due to the region's growing IT infrastructure, which would improve the use of OPTs in developing nations like China and India, the Asia Pacific regional market is anticipated to grow at the fastest rate throughout the forecast period.
Digital payment solutions are becoming more and more necessary, particularly for small firms, which is predicted to propel industry expansion. Small businesses have the potential for rapid expansion; by using OPTs, they can more effectively use their resources and boost productivity. Consequently, it is anticipated that an increase in small firms will open up new market prospects.
Users can make payments whenever they want because to OPTs' real-time payment features. Business owners can reduce costs and adhere to the most recent security standards by implementing this technology. Leading businesses all across the world are now adopting an online payment culture, which is predicted to increase demand for OPT portals. The pandemic outbreak has helped the sector grow in a favourable way.