Global Point Of Sale (POS) Software Market to Reach $22 Billion by 2029, Growing at 10.9% CAGR

What Is the Expected Size and Growth Rate of the Point Of Sale (POS) Software Market?
The market size of the point of sale (POS) software has seen remarkable growth lately. The anticipated growth will see it escalating from $13.09 billion in 2024 to $14.54 billion in 2025, experiencing a compound annual growth rate (CAGR) of 11.1%. Factors stimulating growth during the historic period include the early adoption of smartphones, limited accessibility to traditional POS, the introduction of cloud-based solutions, the initial efforts of governments towards cashless transactions, and the proliferation of app stores and mobile payment applications.

The market size of point of sale (POS) software is anticipated to witness substantial expansion over the coming years, with projections indicating it will reach $22 billion in 2029, observing a compound annual growth rate (CAGR) of 10.9%. The upsurge during the prediction period can be linked to the increased acceptance of biometric verification, emphasis on eco-friendliness, the advent of blockchain technology, and the growth of instant delivery services. Key trends expected during the forecast period encompass AI-driven personalization, synergy with social commerce, augmented reality (AR) interfacing, the surge of voice-activated payments, and an emphasis on enhancing workplace experience.

What Factors Are Fueling Growth in the Point Of Sale (POS) Software Market?
The expansion of the retail and e-commerce industries is anticipated to stimulate the development of the point of sale (POS) software market. Retail and e-commerce involve businesses selling items and services to consumers directly, either in physical stores or online, thus enabling transactions and product distribution. The growth of digital marketplaces, the shift in consumer habits, and digital transformation have led to a surge in the retail and e-commerce sectors. POS software is crucial for enhancing customer satisfaction, streamline processes, and promoting growth in these sectors. For example, the United States Census Bureau, a government agency in the U.S., reported in February 2024 that total retail sales in 2023 had risen by 2.1% compared to the prior year. Additionally, the U.S. Department of Commerce's International Trade Administration disclosed that e-commerce sales in Canada are projected to surge from $2.34 billion in March 2022 to $40.3 billion by 2025. As such, the escalating retail and e-commerce fields are fuelling the POS software market's growth.

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Which Leading Companies Are Shaping the Growth of the Point Of Sale (POS) Software Market?
Major companies operating in the point of sale (POS) software market are Samsung Electronics Co. Ltd., Panasonic Corporation, Oracle Corporation, SAP SE, Fujitsu Ltd., Toshiba Corporation, NEC Corporation, Mastercard Inc., Fiserv Inc., Block Inc., NCR Corporation, Shopify LLC, Diebold Nixdorf Inc., Toast Inc., Epicor Software Corporation, Ingenico SA, Clover Network Inc., Lightspeed Commerce, VeriFone Inc., VeriFone System Inc., Aptos LLC, PAX Technology, GK Software SE, Revel Systems, Blaze Solutions Inc., Qashier PTE Ltd., Ideal POS Ltd.

What Are the Major Trends Shaping the Point Of Sale (POS) Software Market?
Leading entities in the point of sale (POS) software market are innovating cloud-based POS systems like the NCR Aloha Cloud, aiming to provide enhanced features to their clients. The NCR Aloha Cloud is a contemporary, user-friendly, cloud-based POS system designed to aid restaurant operators. For example, in May 2022, NCR Voyix Corporation, an American software development firm, rolled out the NCR Aloha Cloud - a cloud-powered restaurant POS platform. This system comes with features like next-day deposit finance, the smallest portable device, uncomplicated payment processing, and a revamped user interface. This system also provides data analysis capabilities, useful for making data-driven decisions. Incorporating secure payment processing, offline mode, inherent loyalty programs, email marketing, and round-the-clock support, the Aloha Cloud system distinguishes itself as an all-inclusive solution meticulously designed to cater to the restaurant sector's requirements effectively and efficiently.

What Are the Key Segments of the Point Of Sale (POS) Software Market?
The point of sale (POS) software market covered in this report is segmented -

1) By Component: Software, Services
2) By Deployment: On-Cloud, On-Premises
3) By Application: Inventory Tracking, Sales Reporting, Purchasing Management, Customer Engagement
4) By End-User: Retail, Healthcare, Government Sector, Media And Entertainment, Warehouses, Hospitality, Other End-Users

Subsegments:
1) By Software: Transaction Management Software, Inventory Management Software, Customer Relationship Management (CRM) Software, Sales Reporting And Analytics Software, Payment Processing Software, Cloud-Based POS Software, Mobile POS Software (mPOS), Multi-Channel POS Software, E-Commerce Integration Software
2) By Services: Consulting And System Design Services, Installation And Integration Services, Training Services, Maintenance And Support Services, Customization Services, Managed Services

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Which Region Dominates the Point Of Sale (POS) Software Market?
North America was the largest region in the point of sale (POS) software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the point of sale (POS) software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Point Of Sale (POS) Software Global Market Report?

- Market Size Analysis: Analyze the Point Of Sale (POS) Software Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Point Of Sale (POS) Software Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Point Of Sale (POS) Software Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Point Of Sale (POS) Software Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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