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

Point Of Sale (POS) Software Market size was valued at USD 9.68 billion in 2019 and is poised to grow from USD 11.99 billion in 2023 to USD 22.73 billion by 2031, growing at a CAGR of 10.8% in the forecast period (2024-2031).

The global point of sale software market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. For example, Stater Bros. was enabled to deliver additional alternatives for its customers by NCR Emerald, which made it simple, quick, and flexible for them to roll new features to its POS lanes. In just 15 weeks, the business was able to effectively roll out brand-new software and lane hardware to all 171 locations. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions. 'Square, Inc.', 'Shopify Inc.', 'Toast, Inc.', 'Lightspeed POS Inc.', 'Vend Limited', 'ShopKeep, Inc.', 'TouchBistro Inc.', 'Revel Systems Inc.', 'NCR Corporation', 'Epos Now Ltd.', 'Clover Network, Inc.', 'Heartland Payment Systems, LLC', 'Intuit Inc.', 'PAX Technology Limited', 'Upserve, Inc.', 'Verifone Systems, Inc.', 'Oracle Corporation', 'Ingenico Group', 'S1AP SE', 'Toshiba Corporation'

Strong and affordable POS systems with cutting-edge capabilities are becoming more and more in demand to manage complicated company operation situations, including managing inventory, customers, payment, billing, and workers. Simple installation on a desktop, laptop, or tablet is promoting market expansion. Additionally, small and medium-sized enterprises are increasingly adopting cloud-based solutions like mPOS software and web-based POS systems. Over the course of the forecast period, affordability and integration with CRM and other financial solutions are anticipated to drive market expansion.

The market is growing as more businesses and small retailers use cloud-based and AI-driven Point of Sale systems. Systems that use artificial intelligence (AI) are becoming more and more common in industrialized nations like the United Kingdom, the United States, France, Italy, and others. To stay competitive, a number of the industry's top firms are creating cloud- and AI-based PoS systems and software.

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.