USD 87.18 billion
Report ID: SQSG45J2021 | Region: Global | Published Date: July, 2023 | Pages: 157 | Tables: 90 | Figures: 76
Point-Of-Sales Market size was valued at USD 87.18 billion in 2021 and is poised to grow from USD 94.4 billion in 2022 to USD 181.5 billion by 2030, growing at a CAGR of 8.3% in the forecast period (2023-2030).
As consumers frequently choose to buy high-margin goods or services at these purposeful locations, points of sale (POSs) are a key area of focus for marketers. To improve the rate of impulsive purchases when customers leave the store, retailers traditionally place POSs close to the exits. 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.
POS terminal implementation costs vary based on the organization's size and the terms provided by the vendors. Customers might not be required to pay extra for the POS terminal service, but small businesses or merchants would need to pay rent in order to utilise the POS terminals. In other words, "point of sale" is a broad term that covers displays and equipment used for online transactions involving cash registers, barcode scanners, and computers. The programme allows users to connect to other systems, track consumer orders, and manage credit and debit cards.
US Point-Of-Sales Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 87.18 billion
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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.
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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.
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Point-Of-Sales Market Driver
Point-Of-Sales Market Restraint
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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
Point-Of-Sales Market Recent Developments
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.
|Market size value in 2021||USD 87.18 billion|
|Market size value in 2030||USD 94.4 billion|
|Forecast Unit (Value)||USD Billion|
|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)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global 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 Global 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.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Point-Of-Sales Market:
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