What is the Global market size of the Point Of Sale (POS) Software Market?

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).

Point Of Sale (POS) Software Market Size

Point Of Sale (POS) Software Market Insights

Global Point of Sale (POS) Software Market size was valued at USD 21.1 billion in 2023 and is poised to grow from USD 24.29 billion in 2024 to USD 74.81 billion by 2032, growing at a CAGR of 15.1% during the forecast period (2025-2032).

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.

FAQs

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. (USA) ', 'Shopify Inc. (Canada) ', 'Toast, Inc. (USA) ', 'Lightspeed POS Inc. (Canada) ', 'NCR Corporation (USA) ', 'Oracle Corporation (USA) ', 'SAP SE (Germany) ', 'Intuit Inc. (USA) ', 'Clover Network, Inc. (USA) ', 'TouchBistro Inc. (Canada) ', 'PAR Technology Corporation (USA) ', 'Diebold Nixdorf, Inc. (USA) ', 'Ingenico Group (France) ', 'Verifone Systems, Inc. (USA) ', 'PAX Technology (China) ', 'SumUp (UK) ', 'Epos Now (UK)'

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.