USD 29.27 billion
Point-Of-Sales Market Size, Share, Growth Analysis, By Type(Fixed POS, Mobile POS), By Component(Hardware, Software, Services), By End-User(Restaurants, Retail, Entertainment, Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45J2191 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
90
|Figures:
76
Point-Of-Sales Market Insights
Global Point of Sale (PoS) market, was valued at USD 29.27 billion in 2019, and is expected to grow from USD 33.90 in 2023 to reach USD 109.61 billion by 2031, at a robust CAGR of 15.8% over the forecast period (2024-2031).
A Point of Sale system refers to the combination of hardware and software that facilitates transactions between businesses and consumers. Traditional cash registers are being replaced by advanced POS solutions, which include touch-screen terminals, barcode scanners, receipt printers, and software applications that manage inventory, process payments, and generate sales reports.
The global point of sale (POS) market has witnessed considerable growth, driven by the ongoing digital transformation in the retail and hospitality sectors. The market's expansion is fueled by the need for improved operational efficiency, enhanced customer experiences, and the integration of omnichannel retail strategies.
POS systems streamline the checkout process and enable businesses to gather valuable data on consumer behavior, inventory management, and sales performance. The adoption of cloud-based POS solutions also contributes to market growth, offering scalability and flexibility for businesses of all sizes. With the rise of e-commerce, mobile payments, and the demand for contactless transactions, the global POS market is expected to continue growing, with technology innovations playing an important role in shaping the future of retail and hospitality transactions.
US Point-Of-Sales Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Fixed POS
Fastest Growth
Fixed POS
Growth Rate
15.8% CAGR
Global Point-Of-Sales Market ($ Bn)
Country Share for North America Region (%)
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Point-Of-Sales Market Segmental Analysis
Point-Of-Sales Market is segmented based on the type, component, end-user and region. Based on the type, the Point-Of-Sales Market is segmented as fixed POS, mobile POS. Based on component, the Point-Of-Sales Market is segmented as hardware, software and services. Based on the end-user, the Point-Of-Sales Market is segmented as resteraunts, retail, entertainment, others. Based on Region Point-Of-Sales Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Point-Of-Sales Market Analysis by Type
The market has been divided into fixed and mobile POS on the basis of type. Because it provides greater features and capabilities, the fixed POS sector has the biggest point of sale market share. The most dependable, well-known, and widely accepted method of processing payments made with cash or credit/debit cards has been fixed POS systems, which are comparable to conventional forms of technology. Additionally, it is predicted that the mobile POS system would experience the fastest CAGR growth over the course of the projection period due to the substantial use of digital payment methods by consumers with the expansion of internet access. By changing payment methods, mobile POS solutions give enterprises like food trucks, markets, and tradeshows additional flexibility.
Point-Of-Sales Market Analysis by Component
The market has been divided into three categories based on components: hardware, software, and services. Due to the increasing use of this system hardware in retail, restaurants, and petrol stations, the hardware segment among these holds the largest market share. Barcode scanners, cash drawers, receipt printers, label printers, customer-facing displays, touchscreen terminals, credit card readers, and scales for weighing things are all included in the hardware section. Additionally, it is projected that the software segment will develop significantly during the forecast period. Custom POS software that is compatible with all third-party devices for an electronic transaction is being developed by key market participants. Additionally, the improvement of current POS networks is aided by the development of fully integrated, end-to-end POS and payments solutions.
Point-Of-Sales Market Analysis by End-User
The market has been segmented into restaurants, retail, entertainment, and other categories based on the end-user (gas stations, transportation). Due to the increasing use of POS systems in retail stores, which allow for the tracking of real-time data on sales performance, the retail industry currently maintains the biggest market share among these. Additionally, it reduces human error by limiting human involvement in invoicing while accelerating the buying process for retail businesses by displaying product names and prices. During the forecast period, the restaurant segment is anticipated to have the fastest CAGR. The introduction of cutting-edge POS systems to get more control over employee management is credited with the growth.
Global Point-Of-Sales Market By Type
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Point-Of-Sales Market Regional Insights
The Global Point-Of-Sales (POS) Market is divided into North America, Europe, Asia Pacific, and the Rest of the World based on geographical analysis. In the Point-Of-Sale (POS) market, North America has risen to the top spot, followed by Asia Pacific, Europe, and the rest of the world. North America, which is expected to dominate the global POS machine market due to the widespread adoption of IoT, the presence of digitally transformed retail stores, and the region's easy access to resources required for the implementation of cutting-edge POS machines, is primarily responsible for the region's growth. The widespread adoption of POS machines across a variety of industries, particularly in entertainment, retail, and healthcare, is primarily responsible for the huge growth of the POS machine market in the area. The region's product demand has been driven by the expansion of payment methods including contactless payments and NFC.
Global Point-Of-Sales Market By Region
- Largest
- Fastest
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Point-Of-Sales Market Dynamics
Point-Of-Sales Market Driver
- Data, connection, and increased digitalization are important drivers of digital transformation. Digitalization is used by industries to create new goods and services that will increase customer pleasure. Customers can use these services to make various digital and contactless payments. Demand for these systems has surged as a result of the use of electronic payment methods. It features adaptability, security, precise money management, and a decrease in billing errors caused by humans. Additionally, due to the widespread usage of cellphones, there has been a huge increase in cashless transactions worldwide.
Point-Of-Sales Market Restraint
- For many stores and companies, PoS is useful. End users still need to be ready for hazards such device malfunctions, phishing attempts, and software and network vulnerabilities. Insecure networks are more susceptible to data hacking. Hackers can quickly breach the infrastructure and gain access to vital information and documents, including the credit card information of clients' business accounts. Such data leaks can cause the company to suffer significant financial losses and reputational harm. Additionally, devices must be secured even in a network that is properly protected. Data breaches caused by a lack of security may therefore impede market expansion.
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Point-Of-Sales Market Competitive Landscape
The global point-of-sales market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their company globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase market share and profitability.
Point-Of-Sales Market Top Players Company Profiles
- Ingenico Group
- Verifone Systems
- Toshiba Global Commerce Solutions
- NCR Corporation
- PAX Global Technology
- Square Inc.
- Micros Systems
- Panasonic Corporation
- NEC Corporation
- Hewlett-Packard Development Company, L.P.
- Cisco Systems Inc.
- Dell Technologies Inc.
- Epson America Inc.
- Intuit Inc.
- Shopify Inc.
- Oracle Corporation
- Fujitsu Limited
- Samsung Electronics Co. Ltd.
- IBM Corporation
- Posiflex Technology Inc.
Point-Of-Sales Market Recent Developments
- December 2023, Leading fintech innovator Vyapar App presents V-POS, a sophisticated point of sale system that is set to revolutionize the retail industry.
- July 2023, Point-of-sale (POS) devices, introduced by PhonePe, enable merchants to take payments using credit, debit, and UPI cards. The PhonePe POS App is pre-installed on this smartphone, which also enables many transaction methods like tap, swipe, dip, and interoperable dynamic QR codes.
Point-Of-Sales Key Market Trends
- The market is growing as more businesses and small retailers adopt cloud-based and AI-driven Point of Sale solutions. Systems that use artificial intelligence (AI) are becoming more and more common in industrialised 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.
Point-Of-Sales Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Point-Of-Sales Market Analysis, Points of sale (POSs) are an important focus for marketers because consumers tend to make purchasing decisions on high-margin products or services at these strategic locations. Traditionally, businesses set up POSs near store exits to increase the rate of impulse purchases as customers leave. However, different POS locations might provide retailers with more chances to micro-market particular product categories and have an impact on customers early in the sales funnel.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 29.27 billion |
| Market size value in 2031 | USD 109.61 billion |
| Growth Rate | 15.8% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Point-Of-Sales Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Point-Of-Sales Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Point-Of-Sales Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Point-Of-Sales Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Point-Of-Sales Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Point-Of-Sales Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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