Global Point-Of-Sales Market Size, Share, Growth Analysis, By Type(Fixed POS, Mobile POS), By Component(Hardware, Software), By End-User(Restaurants, Retail) - Industry Forecast 2024-2031

Q: What is the global market size of Point-Of-Sales Market?

The global Point of Sale (PoS) market, was valued at USD 29.27 billion in 2022, 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).

Report ID: SQMIG45J2191 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 90 | Figures: 76

Global 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.

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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. '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.'

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.

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.

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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Global Point-Of-Sales Market Size, Share, Growth Analysis, By Type(Fixed POS, Mobile POS), By Component(Hardware, Software), By End-User(Restaurants, Retail) - Industry Forecast 2024-2031

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