Retail Point of Sale Market was valued USD 15,400 million in 2020 and is anticipated to grow at a CAGR of 13.9% during 2021-2028 | Size & Forecast Report

The Retail Point of Sale Market was estimated around USD 15,400 million in 2020 and is expected to grow at a CAGR of 13.9% over the forecast period (2021-2028).

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The factors driving growth of the Retail Point of Sale Market includes rise in the volumes of digital transactions around the world, growing awareness about the benefits related with use of retail point of sale systems, increase in the number of EMV-enabled POS terminals, growing digital literacy and improvements in the living standards. Moreover, emergence of advanced payment options such as MasterCard and Visa (EMV) and Europay, proliferation of smartphones and tablets, growing adoption of advanced technologies by companies, increasing demand for wireless internet connectivity and rapid urbanization, are some of the additional factors supplementing the Retail Point of Sale (POS) Market share. In addition, the increasing investments by major companies on research and development, strategic mergers, and acquisitions between key industry players, rise in the launch of innovative products are further contributing towards the market growth.

However, growth of the Retail Point of Sale Market is hindered due to growing concerns related to cybersecurity.

The prominent players operating in the market are SAP SE, VeriFone, Inc., Shopify, Diebold Nixdorf, Incorporated, Ingenico, Intuit Inc., NEC Corporation, Epicor Software Corporation, NCR Corporation, and Tosiba Corporation, among others.

Based on Component, the Hardware segment is expected to grow at a significant CAGR during the forecast period

Growing adoption of IoT enabled devices to enhance connectivity and efficiency and incorporation of touchscreen technology in mobile POS terminals, are some of the factors pushing growth of the segment.

Based on End User, the Grocery Stores segment is projected to expand at a remarkable CAGR over the forecast period

Increased adoption of Point-of-Sale software by grocery stores to enhance day-to-day operations and meeting customers' expectations, are propelling segment's growth.

Based on Region, the Asia-Pacific region is projected to hold the largest market share during the forecast period

Rising number of digital transactions across APAC countries such as India, China, and Indonesia, increasing smartphones and tablets users, rapid adoption of advanced technologies, rapid urbanization and high population growth rate, are some of the important factors augmenting the market growth in the Asia-Pacific region.

Key Developments

In 2021, NCR Corporation completed the acquisition of Cardtronics, to expand the NCR-as-a-Service strategy and other services.
In 2020, Diebold Nixdorf partnered with Co-Op Group for managed services and remote monitoring of the self-service and POS systems in the UK.

Market Segmentation

Segmentation by Product

Fixed POS
Mobile POS

Segmentation by Component

Hardware
Software
Services

Segmentation by End User

Supermarkets/Hypermarkets
Grocery Stores
Specialty Stores
Convenience Stores
Gas Station
Discount Stores
Others

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

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This release was published on openPR.