Point Of Sale (POS) Software Market Size, Share, Growth Analysis, By Product(Mobile, Fixed), By Component(Hardware, Software, Service), By Technology(Biometric, Traditional), By Operating System(Windows, Linux, Mac), By Application(Restaurants, Hospitality, Healthcare, Retail), By Region - Industry Forecast 2024-2031

In 2021, the North American region held the largest share in the global point of sale (POS) market. The market in North America is primarily driven by the expanding use of POS terminals in a variety of sectors and the presence of significant software suppliers. In the North American POS software industry, the United States is quickly overtaking Canada and Mexico as the leading country segment. North America was a pioneer in mPOS adoption and has a highly developed technological infrastructure. The region's businesses are concentrating on offering POS services and solutions.

For example, in over 300 locations that feature a variety of brands including Harley-Davidson, In Motion, LEGO, and TUMI, Marshall Retail Group (MRG), one of America's top travel retailers in the airport, casino, and resort markets, offers a localized consumer experience. The customer experience must be pleasant and very effective because more than 50% of the outlets are found in airports around the country. Marshall Retail Group changed its in-store technology to Oracle Retail last year to address this demand. In less than 100 days, working with BTM Global, all stores were converted to the contemporary Oracle Retail Xstore Point-of-Service (POS).

Furthermore, Asia-Pacific is expected to grow at the fastest CAGR during the forecast period. Due to a number of device makers and an increase in exports from these areas. In addition, the growing acceptance of digital payment methods by merchants, eateries, and other end users is a key factor driving the Asia Pacific market. Due to the existence of domestic device producers and the growing popularity of digital wallets among Chinese customers, China now dominates the Asia Pacific market. Additionally, due to the increasing use of these devices by shops and banks, India is predicted to expand at the greatest CAGR. For example, Axis Bank in India was the biggest bank to buy PoS units for retail and merchant clients in September 2021. In 2021, the banks will have installed over 0.2 million point-of-sale devices. The bank's client base has grown as a result of its plan to offer Point of Sale devices.

The market in Europe is being pushed by small and medium-sized businesses' growing usage of cloud solutions. The market expansion has been fueled by the main companies' increased development of cloud-based PoS solutions to satisfy the need of the expanding restaurant and retail sectors. For example, In Europe, Orderbird, a top supplier of cloud-based point-of-sale systems with integrated payment systems, announced the sale of its business to Nets, a major player in the PayTech Nexi Group. This collaboration will enhance orderbird's integrated payment services for consumers in the hospitality sector and hasten the company's global expansion. Through its German-based digital payment service Concardis, Nets was an orderbird stakeholder and long-time partner.