USD 9.68 billion
Global Point Of Sale (POS) Software Market Size, Share, Growth Analysis, By Product(Mobile, Fixed), By Component(Hardware, Software), By Technology(Biometric, Traditional), By Operating System(Windows, Linux), By Application(Restaurants, Hospitality) - Industry Forecast 2024-2031
Report ID:
SQMIG45E2208 |
Region:
Global |
Published Date: February, 2024
Pages:
234
|
Tables:
145 |
Figures:
78
Global Point Of Sale (POS) Software Market Insights
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.
US Point Of Sale (POS) Software Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Software
Fastest Growth
Software
Growth Rate
10.8% CAGR
Global Point Of Sale (POS) Software Market ($ Bn)
Country Share for NA and AP Region (%)
Global Point Of Sale (POS) Software Market By Component ($ Bn)
Global Point Of Sale (POS) Software Market By Component (%)
To get more reports on the above market click here to Buy The Report
Global Point Of Sale (POS) Software Market Segmental Analysis
Point Of Sale (POS) Software Market is segmented based on the component, technology, operating system, application, and region. Based on product, the global point of sale (POS) software is segmented into mobile and fixed. Based on component, the global point of sale (POS) software is segmented into hardware, and software, service. Based on technology, the global point of sale (POS) software is segmented into biometric, and traditional. Based on the operating system, the global point of sale (POS) software is segmented into windows, Linux, and mac. Based on application, the global point of sale (POS) software is segmented into restaurants, hospitality, healthcare, retail, warehouse/distribution, and entertainment. Based on region, Point Of Sale (POS) Software Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Point Of Sale (POS) Software Market Analysis by Component
During the projection period, the service category is predicted to increase at the greatest CAGR in the global point of sale (POS) market. Along with administration, gateway, and maintenance services, POS services also offer payment services. These services benefit both companies and business clients by making the most use of resources and optimizing marketing procedures. In contrast to conventional POS systems, SaaS uses a partnership approach and does not require any upfront fees. The recurring charges pay for the software, assistance, backups, and upcoming upgrades.
For example, with the self-developed big data solution "GK SPOT," which GK offers the most recent information on, merchants can, among other things, provide personalized offers to their consumers in real-time and across all channels. In a specially constructed container pop-up store, visitors to the trade show may also see the newest solutions from GK in the area of "Grab-and-Go" purchasing. The issues of AI, customization and dynamic pricing will be another emphasis of the trade show attendance. The GK CLOUD4RETAIL platform, which includes all of its products, is an end-to-end enterprise cloud platform that enables branches to play a key role in streamlined omnichannel operations. SaaS solutions are now in extremely high demand.
Point Of Sale (POS) Software Market Analysis by Product
By product in 2021, the fixed POS market segment had the biggest market share worldwide. Due to the fact that fixed POS solutions now outweigh mobile POS in most brick-and-mortar restaurants and retail establishments since they provide greater functionality and capabilities. Due to advantages like reliable management solutions with company functionality, staff time clocks, a cash drawer, inventory management, loyalty programs, and gift card administration, consumers are more likely to use a fixed POS system.
For example, Advanced point-of-sale systems are being used in the UK by businesses including Big Table Group, Honest Burgers, and McDonald's Corporation to streamline financial transactions and track consumer information for marketing purposes. By establishing 50 new outlets in October 2021, Big Table Group increased the visibility of its Las Iguanas brand throughout the UK. Latin American cuisines are offered by the restaurant chain, which has 57 locations across the nation. With a total of 107 stores, the campaign virtually quadrupled its footprint across the nation. In order to coordinate the operational and financial operations of restaurants located in various places, such expansions are boosting the need for POS terminals. Owners of restaurant chains will benefit from the software's assistance with email marketing, payment processing, and online meal ordering.
Over the course of the forecast period, the mobile POS market is anticipated to expand rapidly. The payment method has changed as a result of technological advancement, and the installation of mPOS provides speedy payment via applications without the system needing to be linked to a local network. The credit card reader on a smartphone or tablet that has applications loaded to control the scanner and charging system is used to begin the payment. The market has grown as small firms increasingly use mobile POS terminals to provide cutting-edge functions including inventory management, retail management, and analytics to optimise business operations.
Global Point Of Sale (POS) Software Market By Application, 2023 (%)
To get detailed analysis on other segments, Request For Free Sample Report
Global Point Of Sale (POS) Software Market Regional Insights
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.
Global Point Of Sale (POS) Software Market By Region, 2024-2031
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Global Point Of Sale (POS) Software Market Dynamics
Point Of Sale (POS) Software Market Driver
- 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.
- 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 mistakes caused by humans. Additionally, due to the widespread usage of cell phones, there has been a huge increase in cashless transactions worldwide.
Point Of Sale (POS) Software 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. Cyber Risks, for instance, provide a significant risk of data breach in unprotected networks. Hackers can quickly breach the infrastructure and get 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 thus impede market expansion.
Request Free Customization of this report to help us to meet your business objectives.
Global Point Of Sale (POS) Software Market Competitive Landscape
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.
Top Players in the Global Point of Sale Software Market
- 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
Point Of Sale (POS) Software Market Recent Developments
- In July 2022, a strategic partnership between NCR Corporation, a top corporate technology supplier, and the Bank of New Zealand, one of the nation's biggest institutions, was recently announced. As part of BNZ's digital transformation, NCR will manage the bank's fleet of ATMs using its dependable NCR ATM as a Service solution.
- In May 2022, ten years ago, NCR Corporation, a renowned business technology supplier, had the idea to provide cloud solutions. With NCR Aloha Cloud, a cloud-based point of sale (POS) system that offers features sophisticated enough to launch under the market-dominating Aloha brand, it is now upending its own restaurant technology. Aloha Cloud offers a new user interface (UI), the smallest portable device currently available, seamless payment processing, and next-day financing of deposits, providing restaurant owners more time to concentrate on operating their business rather than their technology.
Global Point Of Sale (POS) Software Key Market Trends
- 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.
- Consumer demand for a secure payment procedure is rising as a result of the increase in financial fraud in online transactions. The usage of POS software has expanded as a result of rising mobility trends, mobile POS systems, the development of cashless transactional technologies, and the expansion of e-commerce, brick-and-mortar, and online retail practices. Investors believe that smart POS terminals with cutting-edge software architecture can transform the future and increase digital payment procedures for the main e-commerce platforms.
- Restaurant owners also have to deal with the complexity of managing orders while assuring prompt meal delivery and excellent customer service. Restaurant owners are significantly reliant on cutting-edge technology like restaurant software solutions, which range from an all-in-one business management system to standalone POS terminals, to satisfy the changing consumer expectations and reduce food as well as operating expenses. Restaurants face a challenge: how to provide quick, high-quality service to consumers while making guest management simple. This presents an opportunity for industry leaders.
Global Point Of Sale (POS) Software 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 sale (POS) software market analysis, in terms of components, the largest share of the global point of sale (POS) software market was held by the services segment. Along with administration, gateway, and maintenance services, POS services also offer payment services. These services benefit both companies and business clients by making the most use of resources and optimizing marketing procedures. Based on product, the largest share of the global point of sale (POS) software market was held by the fixed POS segment. Due to the fact that fixed POS solutions now outweigh mobile POS in most brick-and-mortar restaurants and retail establishments since they provide greater functionality and capabilities. And by region, the North American region held the largest share of the global point of sale (POS) software 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.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 9.68 billion |
| Market size value in 2031 | USD 22.73 billion |
| Growth Rate | 10.8% |
| 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:-
|
| Historical Year | 2019 |
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
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 Global Point Of Sale (POS) Software 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 Global Point Of Sale (POS) Software 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 Global Point Of Sale (POS) Software 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 Global Point Of Sale (POS) Software 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 Global Point Of Sale (POS) Software Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Point Of Sale (POS) Software 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.
Global Point Of Sale (POS) Software Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
