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 spot where a consumer pays for goods or services at your business is known as the point of sale, or POS. Simply explained, a point-of-sale transaction is completed every time a client makes a purchase. The most recent POS software helps businesses like restaurants and shops integrate mobile POS features, contactless payment alternatives, e-commerce integration capabilities, and more in addition to credit card processing. To verify the balance and other information, the program interfaces with the inventory. Since small businesses are aggressively investing in modernizing their infrastructures, intelligent cloud-based POS solutions are quickly replacing conventional POS systems. This has increased the appeal of POS systems recently. The POS software may be accessed online and is frequently compatible with the majority of POS devices. Due to their affordability and ease, cloud-based POS systems are in extremely high demand.

For example, CLOUD4RETAIL OmniPOS 5.19, the only POS business solution on the market that can be used as a universal platform for any retail format, whether food, convenience, gas stations, gastronomy, or fashion, was released, according to a press statement from GK Software. OmniPOS 5.19 guarantees a contemporary retail experience with a flexible, open platform, including contactless mobile payments, extensive support for table service, and adaptable and integrated payment processing.

The need for cloud-based software has multiplied as a result of rising digitalization, automation, and virtualization. A modest brick and mortar business, an online store, sporadic trade shows, and flea markets may all be connected to a cloud-based point of sale system, which automatically updates the inventory.