Europe Point-of-sale Software Market to Significant Growth by 2030

According to Precision Business Insights (PBI), latest report Europe Point-of-sale Software Market was valued at USD 5,700 million in 2023 and is expected to witness a CAGR of 9.84% during the forecast period (2024-2030). Personalized shopping experiences and dynamic pricing optimization are key factor expected to fuel the demand for Point-of-sale software market. The incorporation of generative AI stands out as a critical innovation poised to change the business environment. Generative AI facilitates the creation of individualized shopping experiences by using client data, providing personalized recommendations, targeted rewards, and customized point-of-sales interfaces. This innovation not only improves consumer satisfaction and loyalty, but it also allows firms to implement dynamic pricing plans in real time, hence increasing profitability. Furthermore, generative AI improves fraud detection capabilities at PoS Software through analysing transaction patterns and spotting variations quickly, hence increasing total transaction security. The integration of these modern technology promotes innovation and efficiency in the Point-of-Sale sector, allowing businesses to provide more refined and seamless experiences for both consumers and retailers.

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Mobile POS Dominates the Point-of-sale Software Market:
Based on the Device type, the market is segmented into Mobile POS, Tablet POS, Desktop/ Traditional POS, Pin Pad, Others. Among These, Mobile POS segment is set to grow at a CAGR of 11.06 % over the historical period (2019 - 2023). The segment is projected to expand at a growth rate of 10.53 % over the forecast period to reach US$ 562.3 Million in 2030, Mobile POS systems have grown in popularity since the COVID-19 outbreak, with over 10 million mobile payments in the United Kingdom alone. In 2023, digital transactions in the UK will total roughly £259 billion, with digital wallets accounting for more than a third. According to PWC, cashless transactions will triple by 2030, underscoring the growing importance of mobile POS systems as creative and trendsetting solutions in POS technology. In addition, Businesses' focus on improving the customer experience is a primary driver of the mobile POS market. Mobile POS solutions assist businesses avoid long checkout lines by allowing customers to pay straight from the product area, which improves satisfaction and brand loyalty. The increased demand for mPOS terminals across industries is also driven by their affordability, security, and user-friendly interfaces, which make them especially appealing to small and medium-sized businesses (SMBs).

Demand of Retail sector in Point-of-sale Software Market:
Based on the application type, the market is segmented into Restaurant, Hospitality, Healthcare, Retail, Warehouse/Distribution, Others. Among These, Retail segment set to grow at a CAGR of 11.5 % over the historical period (2019 - 2023). The segment is projected to expand at a growth rate of 10.67% over the forecast period to reach US$ 567.4 Million in 2030. The expansion in traditional and new retail outlets in Europe is driving demand for POS Software, which is fuelled by urbanization, greater disposable incomes, and changing consumer lifestyles. The digital transformation of retail, which includes omnichannel retailing, mobile and contactless payments, and cloud-based POS systems, has only increased this need. Retailers increasingly require modern POS solutions that can handle many payment methods, deliver real-time data, and give a consistent shopping experience across online and physical storefronts. These POS Software provide data-driven insights into inventory trends, consumer behaviour, and sales patterns, which improves operational efficiency and allows for more personalized customer experiences.

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Russia leads the Point-of-sale Software Market:
The Russia market is expected to grow at a CAGR of 10.6% during the historical period (2019-2023). The segment is expected to grow at a rate of 9.82% over the forecast period, reaching US$ 1,845.81 million in 2030. Russia's retail sector, despite constraints such as large territory and logistical complexities, drives demand for innovative Point-of-Sale (POS) software systems. These technologies are critical for successfully managing operations with a big population and navigating supply chain challenges. Despite economic uncertainties and geopolitical conflicts that impede foreign investment, Russia's retail industry relies on robust POS technologies to improve customer experiences, optimize inventory management, and adapt to market dynamics, establishing it as a market leader in the EMEA POS software.

In Addition, the use of current technologies such as NFC (Near Field Communication) and biometric authentication is considerably driving market expansion in the point of sale (POS) industry. NFC technology enables rapid and contactless transactions by allowing devices, such as smartphones or cards, to interact while they are in proximity. This functionality improves transaction speed and convenience for both customers and businesses, making it a top choice in retail settings where efficiency is critical. Biometric authentication, on the other hand, increases security by verifying a person's identification during transactions using unique biological attributes such as fingerprints, facial recognition, or iris scans. This technology not only enhances security but also simplifies the authentication process, minimizing the need for traditional techniques such as PIN digits or signatures. In Russia, the use of these advanced technologies is critical to driving market growth, allowing merchants to upgrade their operations and fulfil customers' changing expectations in a more digital and security-conscious environment.

Strategic Expansion, Mergers, Collaborations, and Agreements are the key Strategies Adopted by Market Players:
The market players in the market adopt a combination of these strategies to stay competitive, drive growth, and capitalize on opportunities in the dynamic sector. Companies invest in expanding their capabilities to meet the growing demand for packaging and printing industry. This includes entering new areas of manufacturing and leveraging existing expertise and infrastructure for diversification. For instance,

In January 2022, Square announced ISO 27001 accreditation. ISO 27001 is the most widely accepted global standard for information security management.
In June 2023, Payabl., an established FinTech business recognized for its payment solutions, has unveiled a new point-of-sale (POS) system designed to help European retailers expand. The POS solution was built in response to the growing omnichannel shopping trend.

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Detailed segmentation:
The Europe Point-of-Sale Software Market is segmented based on device type, deployment type, application and country.

Based on the Device Type of the Market is segmented into the following
• Mobile POS
• Tablet POS
• Desktop/Traditional POS
• Pin Pad
• Others

Based on the Deployment Type is segmented into the following
• Cloud
• On-Premises

Based on the Application is segmented into the following
• Restaurant
• Hospitality
• Healthcare
• Retail
• Warehouse/ Distribution
• Entertainment
• Others

Based on the Country, the Market is segmented into the following
• Germany
• United Kingdom
• France
• Spain
• Italy
• Russia
• Rest of the Europe

The Europe Point-of-Sale Software Market Key players are NCR Voyix Lightspeed Commerce Inc, Hermes Software GmbH, Snabble, Revel Systems, Act'o-soft GmbH, POS Partner GmbH, Custom SPA, Apro Kassensysteme, Odoo, Dish, DDD Invoices, Fonoa, Space Invoices Inc, Fiscal Solution, Do your Order

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This release was published on openPR.