Rising Contactless Payments Are Driving Growth In The Point Of Sale Market: A Key Factor Shaping the Future of the Point Of Sale Market in 2025

What Are the Projections for the Size and Growth Rate of the Point Of Sale Market?
The market size of the point of sale has seen enormous growth in the recent past. The market, worth $44.84 billion in 2024, is projected to increase to $53.84 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 20.1%. The growth during the historical period can be credited to factors such as the need for an improved consumer experience, the growth of e-commerce, the rising acceptance of digital payments, growth in small and medium businesses, as well as the increased usage of mobile and cloud-based solutions.

The market size for point of sale systems is projected to exhibit swift expansion in the coming years, with a growth to $110.85 billion by 2029, posting a compound annual growth rate (CAGR) of 19.8%. The surge in growth during the prediction period can be linked to the rise in e-commerce and multichannel retail systems, regulatory amendments and compliance mandates, expansion in the retail and hospitality industries, an increased emphasis on security and fraud prevention, and the emergence of contactless payment schemes. The forecast period is also expected to witness prominent trends, such as a rise in the use of near-field communication (NFC) and quick response (QR) code payments, an increase in the use of tablet and smartphone-based POS solutions, the application of advanced encryption and fraud detection systems, the uptake of fingerprint and facial recognition, and the investigation into the use of blockchain for secure, transparent, and effective transaction management.

What Are the Main Catalysts for Growth in the Point Of Sale Market?
The growth of the point of sale market is projected to be fueled by the increasing utilization of contactless payments. This mode of transaction, which allows customers to pay for products or services by merely tapping or waving a payment-enabled device close to a compatible payment terminal, is safe and requires no physical contact. The ubiquity of smartphones and wearable devices, the preference for sanitary payment methods especially in light of the pandemic, enhanced security elements, speed and convenience are the factors that contribute to the escalating popularity of contactless payments. Point of sale (POS) systems bolster the use of contactless payments by enabling traders to carry out swift, secure, and hassle-free transactions through NFC-enabled devices, thus amplifying customer satisfaction and fostering widespread usage. As an illustration, the European Central Bank, a central bank based in Germany serving the European Union nations, reported in January 2024 that the quantity of contactless card payments during the first half of 2023 surged by 24.3% from 20.9 billion in the first half of 2022. Concurrently, the total value escalated by 25.9% to €0.5 trillion ($545.27 billion). Hence, the surging use of contactless payments is steering the growth of the point of sale market.

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Which Businesses Are at the Forefront of Point Of Sale Market Development?
Major companies operating in the point of sale market are HP Inc., Panasonic Corporation, Oracle Corporation, Fujitsu Group, Salesforce Inc., PayPal Inc., Block Inc., Intuit Inc., Shopify Inc., NCR Voyix Corporation, Toast Inc., Casio Computer Co. Ltd., Ingenico Group, PAX Global Technology Limited, Lightspeed Commerce, Elo Touch Solutions, TouchBistro, Miva Inc., GOFRUGAL, Squirrel Systems, Erply, Poster POS, Nomia LLC, Bindo Labs Inc.

What Are the Latest Innovations in the Point Of Sale Market?
Big firms active in the point of sale market are prioritizing the design of advanced open banking payment solutions to offer retailers a cost-friendly, effectual method of payment that bolsters customer convenience. Open banking payment solutions enable third-party providers to securely tap into a user's bank account details to initiate transactions or offer financial services, harnessing the power of open APIs for enhanced transparency and effectiveness. For instance, in February 2024, Acquired Limited, a United Kingdom-based firm specializing in payment infrastructure and solutions for businesses, joined forces with MultiPay Global Solutions, another UK-based payments technology firm, to introduce Pay by Bank for Point of Sale (POS). This platform facilitates direct bank payments through a quick response (QR) code, removing interchange and scheme fees for retailers and delivering immediate access to capital. For consumers, it ensures a seamless payment process without requiring additional app downloads, guaranteeing fast and trouble-free transactions.

How Is the Point Of Sale Market Segmented?
The point of salemarket covered in this report is segmented -

1) By Type: Fixed Point Of Sale, Mobile Point Of Sale, Other Types
2) By Component: Hardware, Software, Services
3) By Operating System: Windows Or Linux, Android, iPhone Operating System (iOS)
4) By Deployment: On-Premise, Cloud-Based
5) By End-User: Restaurants, Retail, Entertainment, Other End Users

Subsegments:
1) By Fixed Point of Sale: Traditional POS Terminals, Touchscreen POS Systems, Self-Service Kiosks, Integrated POS Systems
2) By Mobile Point of Sale: Smartphone-based POS Solutions, Tablet-based POS Solutions, Mobile Card Readers, Cloud-based Mobile POS Systems
3) By Other Types: Online POS Systems, Virtual POS Systems, Multi-channel POS Systems, Contactless Payment Solutions

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Where Is the Point Of Sale Market Growth Most Prominent?
Asia-Pacific was the largest region in the point of sale market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the point of sale market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Point Of Sale Global Market Report?

- Market Size Analysis: Analyze the Point Of Sale Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Point Of Sale 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 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 Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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