Global Point-Of-Sales (POS) Market Size By Type (Fixed POS, Mobile POS (mPOS)), By Component (Hardware, Software, Services), End-User (Retail, Restaurants, Hospitality, Entertainment), By Geographic Scope And Forecast

Point-Of-Sales (POS) Market Size And Forecast

Point-Of-Sales (POS) Market size was valued at USD 49818.06 Million in 2024 and is projected to reach USD 153351.33 Million by 2031, growing at a CAGR of 15.09% from 2024 to 2031.

• POS terminal systems have grown dramatically, from simple transaction devices to integrated solutions that work smoothly with a company’s financial tools and CRM.
• This improvement has provided end users with significant business intelligence, allowing for better control of revenue streams and inventory.
• Modern POS systems offer several advantages, including exact transactions, lower maintenance costs, and real-time inventory tracking.
• The numerous advantages provided by advanced point-of-sale systems have pushed businesses to replace old billing software with POS solutions, consequently supporting the growth of the POS systems market.
• Furthermore, contemporary POS terminals help to reduce deployment costs, setup complexity, power consumption, and long-term maintenance costs.

Global Point-Of-Sales (POS) Market Dynamics

The key market dynamics that are shaping the global point-of-sales (POS) Market include

Key Market Drivers

• Technological AdvancementsTechnological advancements have a huge impact on the POS sector, including the emergence of mobile POS applications, cloud-based POS systems, and integration with emerging technologies such as blockchain, IoT, and AI.
• Retail Industry Growth The POS market closely tracks the growth of the retail industry, both in physical and online venues. As more organizations use POS systems to manage inventory, improve customer experiences, and optimize operations, the need for POS solutions increases.
• Omnichannel Retailing Preference Consumers are increasingly looking for seamless experiences across physical stores, internet retailers, smartphone apps, and social media platforms. There is a growing demand for POS systems that enable omnichannel retailing by integrating sales, inventory, and customer data across several channels.
• Analytics and Insights Demand Businesses use POS systems to collect and analyze data to get insights into sales patterns, consumer behavior, inventory management, and marketing performance. Advanced POS systems provide robust reporting and analytics options to help with data-driven decision-making.
• Regulatory Compliance and Security Adoption of secure POS solutions is influenced by laws such as the Payment Card Industry Data Security Standard (PCI DSS) and the EMV standard. Businesses prioritize POS systems with strong security measures to protect sensitive consumer and financial data in the face of rising cybersecurity threats.
• Global SME Expansion Small and medium-sized enterprises (SMEs) are increasingly using POS systems to compete with larger merchants, improve customer service, and boost operational efficiency. The POS industry is growing as SMEs expand globally, especially in emerging markets.

Key Challenges

• Cost Barrier For startups and resource-constrained businesses, the initial investment in POS gear, software, and training can be prohibitively expensive.
• Complexity of Integration Integrating new POS systems with existing workflows and legacy systems, especially for bigger firms, can be difficult and time-consuming, discouraging upgrades or conversions.
• Security Risks With the rise of cyber threats, securing the security of POS systems is critical. Concerns about financial losses and reputational damage from data breaches may deter some businesses from investing in POS technology.
• Internet Dependence Many modern POS systems rely on the internet for transaction processing and data synchronization. Businesses in places with unstable internet connectivity or during outages may experience operational difficulties.
• Resistance to Change Some businesses may be resistant to adopting new technology or accepting change, particularly if it requires retraining employees or altering established processes, limiting the adoption of new POS systems.
• Regulatory Compliance Meeting regulatory requirements like GDPR and PCI-DSS can be difficult for both POS vendors and users, necessitating additional resources and expertise to assure compliance.
• Limited customization Off-the-shelf POS solutions may not always match the exact demands of every organization, especially those that require specialized features or operations, resulting in limited customization choices.
• Vendor lock-in Once a company has invested in a specific POS system supplier, switching to another vendor can be difficult and costly. This vendor lock-in may hamper innovation and competition in the POS market over time.

Key Trends

• Cloud-Based Dominance Cloud-based POS systems are gaining popularity due to their low cost, scalability, and ease of remote access. By eliminating the requirement for on-premise servers, organizations may access their data from any location with an internet connection.
• Surge in Mobile (POS) The growing use of smartphones and tablets as effective POS solutions gives businesses more flexibility. This trend allows transactions to take place at a variety of locations, including pop-up events, markets, and even directly at the customer’s table in a restaurant.
• Cloud-Based Dominance Cloud-based POS systems are gaining popularity due to their low cost, scalability, and ease of remote access. By eliminating the requirement for on-premise servers, organizations may access their data from any location with an internet connection.
• Utilization of Data Driven Insights The growing use of smartphones and tablets as effective POS solutions gives businesses more flexibility. This trend allows transactions to take place at a variety of locations, including pop-up events, markets, and even directly at the customer’s table in a restaurant.
• Focus on Seamless Transactions Today’s customers want a frictionless checkout experience. POS systems are reacting by incorporating features such as self-checkout kiosks, contactless payments, and mobile wallets, which improve transaction efficiency and ease.

Global Point-Of-Sales (POS) Market Regional Analysis

Here is a more detailed regional analysis of the global point-of-sales (POS) Market

Asia Pacific

• Asia Pacific is substantially dominating the point-of-sales (POS) market owing to the region’s embrace of cashless payments across multiple countries opens up new chances for market expansion.
• The growing use of credit and debit cards for point-of-sale transactions drives up the need for POS terminals.
• Furthermore, regional vendors are driving market expansion by investing in innovation, strategic collaborations, and mergers and acquisitions.
• For example, the Reserve Bank of India recently reported that India has over 4.7 million POS terminals, with steady expansion in sectors such as restaurants, grocery stores, and gas stations.
• In a similar spirit, MYPINPAD, a significant participant in PCI-certified payments software solutions, collaborated with payment solution provider SPECTRA Technologies and Hong Kong’s leading payment terminal maker to launch a software-based contactless payment solution for mobile devices.
• This program seeks to improve the consumer experience for small and micro-merchants in Hong Kong. Furthermore, Mastercard cooperated with both companies to establish the SoePay solution, which increased the acceptance network for Mastercard Tap on Phone transactions.

North America

• North America is expected to be the fastest growing region during the forecast period owing to the popularity for mobile POS solutions for payment processing has increased in North America, owing to the growing use of digital payment methods in the retail and restaurant industries.
• According to the United States Census Bureau of the Department of Commerce, total retail sales in the first quarter of 2022 were USD 1,747.30 billion, a 3.7% increase over 2021.
• This enormous increase in retail sales has resulted in a high demand for POS terminals across a variety of businesses.
• During the COVID-19 pandemic, the National Restaurant Association claimed in 2020 that roughly 40% of establishments in North America had implemented mobile and contactless payment solutions for their clients.
• Furthermore, the increased usage of POS terminals and software by shops to efficiently monitor inventory records has pushed growth of point-of-sales market.

Global Point-Of-Sales (POS) MarketSegmentation Analysis

The Global Point-Of-Sales (POS) Market is segmented based on Type, Component, End-User And Geography.

Point-Of-Sales (POS) Market, By Type

• Fixed POS
• Mobile POS (mPOS)

Based on Type, the market is bifurcated into Fixed POS, and Mobile POS (mPOS). The fixed POS segment emerged as the market leader, accounting for the biggest share. Fixed POS solutions are well-known for their stability and dependability, thanks to dedicated hardware and infrastructure located at fixed sites. This configuration ensures consistent performance, reducing the likelihood of technical errors. Furthermore, fixed POS terminals have larger display panels and support additional peripherals such as customer displays and card scanners, which enhance the system’s usefulness, especially in the retail industry. These characteristics are accelerating the expansion of the fixed POS segment.

Point-Of-Sales (POS) Market, By Component

• Hardware
• Software
• Services

Based on Component, the market is bifurcated into Hardware, Software and Services. Hardware is substantially dominating the point-of-sales (POS) market. The hardware category led the market, accounting for the biggest share. This is due to its capacity to facilitate swift and exact transaction processing, which results in faster checkouts, shorter customer waits times, and increased operational efficiency. As a result, the use of POS hardware has increased in a variety of industries globally, including restaurants, retail outlets, banking institutions, and petrol stations.

Point-Of-Sales (POS) Market, By End-User

• Retail
• Restaurants
• Hospitality
• Entertainment

Based on End-User, the market is bifurcated into Retail, Restaurants, Hospitality, and Entertainment. The retail emerged as the market leader, accounting for the biggest share. This is due to the increased use of POS systems in retail stores, which are efficient in time and cost management and provide real-time sales performance data. Additionally, these tools help retailers manage promotions and discounts more efficiently. They allow for the application of discounts, the tracking of promotional efficacy, and the creation of targeted marketing campaigns directly via POS solutions.

Point-Of-Sales (POS) Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

Based on Geography, the Global Point-Of-Sales (POS) Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. Asia Pacific is substantially dominating the point-of-sales (POS) market owing to the region’s embrace of cashless payments across multiple countries opens up new chances for market expansion. The growing use of credit and debit cards for point-of-sale transactions drives up the need for POS terminals. Furthermore, regional vendors are driving market expansion by investing in innovation, strategic collaborations, and mergers and acquisitions.

Key Players

The “Global Point-Of-Sales (POS) Market” study report will provide a valuable insight with an emphasis on the global market.  The major players in the market are Square (Block, Inc.), Shopify, Toast, Inc., NCR Corporation, Oracle Corporation, VeriFone Systems, PAX Technology, Lightspeed POS, Inc., Clover Network, Inc., Intuit, Inc.

Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.

Point-Of-Sales (POS) Market Recent Developments

• In May 2023, PAX Technology, Inc. unveiled the Elys Workstation (L1400), a key component of the groundbreaking Elys system. This POS system is very customizable and may enhance both the merchant and consumer experience through a single platform. It offers several business management solutions, including payments, inventory management, loyalty, attendance, and time tracking.
• In March 2023, Ingenico announced the acquisition of Phos to expand merchant payment acceptance on smartphones. The acquisition allows Ingenico to expand its offerings to include software-driven services. Phos offers Software-Only PoS (SoftPoS) solutions.
• In January 2023, SoundHound joined the Toast Partner Ecosystem to support restaurant owners with voice-ordering capabilities. The agreement makes SoundHound technology available to eateries employing Toast Inc’s POS system. It will allow eateries to accept voice orders over the phone and

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors.• Provision of market value (USD Billion) data for each segment and sub-segment.• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market.• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region.• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled.• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions.• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis.• Provides insight into the market through Value Chain.• Market dynamics scenario, along with growth opportunities of the market in the years to come.• 6-month post-sales analyst support.

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