POS Software Market Share, Size Report | Industry Trends, Growth Analysis and Forecast 2022-2027

The latest research study "POS Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" by IMARC Group, finds that the global Point of Sale (POS) software market reached a value of US$ 9.78 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 17.35 Billion by 2027, exhibiting a CAGR of 9.40% during 2022-2027.

Industry Definition and Application:

POS or point-of-sale software enables businesses and merchants to manage store operations and perform online retail transactions. It assists in handling inventory, searching for products, supervising sales, accepting payments, scanning consumer goods information faster, tracking taxes, analyzing and representing sales reports to provide accurate business insights, etc. This, in turn, aid enterprises in offering a better customer experience, ensuring quicker payments, maintaining price consistency, simplifying business operations, optimizing workflow, etc. Presently, POS software is commonly available in fixed and mobile solution types.

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What are the major drivers for the POS software market?

The inflating need for efficient in-store or electronic payment facilities to ensure safe, flexible, and accurate money management while eliminating human errors is primarily driving the POS software market. Additionally, the widespread adoption of e-wallets for storing debit and credit card information to provide flexibility and convenience to the user during online transactions is further catalyzing the market growth.

Besides this, the escalating demand for contactless payment options, on account of the sudden outbreak of the COVID-19 pandemic, is acting as another significant growth-inducing factor. Moreover, the easy availability of high-speed internet connectivity and the emerging trend of digitalization are also positively influencing the global market. Apart from this, the growing integration of cloud computing and customer relationship management (CRM) solutions that help in collecting data, tracking consumer behavior, increasing business revenue, etc., is anticipated to fuel the POS software market over the forecasted period.

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Report Segmentation:

The report has segmented the market on the basis of region, component, type, deployment mode, organization size, application and end user.

Breakup by Component:
• Software
• Service

Breakup by Type:
• Fixed POS
• Mobile POS

Breakup by Deployment Mode:
• Cloud-based
• On-premises

Breakup by Organization Size:
• Large Enterprises
• Small and Medium-sized Enterprises

Breakup by Application:
• Inventory Tracking
• Sales Reporting
• Purchasing Management
• Customer Engagement
• Others

Breakup by End User:
• Restaurants
• Hospitality
• Healthcare
• Retail
• Warehouse
• Entertainment
• Others

Breakup by Geography:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

List of Major Key Players:
• Block Inc.
• Clover Network LLC (Fiserv Inc.)
• HP Development Company L.P.
• NCR Corporation
• Panasonic Canada Inc (Panasonic Holdings Corporation)
• Revel Systems Inc.
• SwiftPOS (MSL Solutions)
• Toast Inc.
• Idealpos Solutions Pty Ltd
• Intel Corporation
• Microsoft Corporation
• Toshiba Corporation
• Vend Limited (Lightspeed).

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.