Press release
Global Point Of Sale (POS) Software Market Projected to Surpass $22 Billion by 2029 with 10.91% Annual Growth
Point Of Sale (POS) Software
The rise of retail and e-commerce industries is expected to drive the growth of the point of sale (POS) software market. The shift in consumer behavior and the digital transformation of retail are fueling the expansion of these sectors. POS software helps streamline transactions, improve customer experience, and foster business growth. In February 2024, the U.S. Census Bureau reported a 2.1% increase in retail sales for 2023, and e-commerce sales in Canada are expected to rise significantly by 2025. This growth in retail and e-commerce is driving POS software demand.
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What Is the projected market size and growth rate for the point of sale (pos) software market?
The point of sale (POS) software market has expanded rapidly in recent years. It will grow from $13.09 billion in 2024 to $14.54 billion in 2025, at a CAGR of 11.1%. Factors driving growth include smartphone adoption, limited POS options, the emergence of cloud solutions, government support for cashless transactions, and the rise of mobile payment apps.
The point of sale (POS) software market is expected to grow to $22 billion by 2029, with a CAGR of 10.9%. This growth is driven by the popularity of biometric authentication, the focus on sustainability, blockchain technology, and on-demand delivery services. Trends include AI-driven personalization, convergence with social commerce, AR integration, voice-activated payments, and a focus on employee experience.
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What new trends are reshaping the point of sale (pos) software market and its opportunities?
Companies in the point of sale (POS) software market are working on cloud-based systems like NCR Aloha Cloud to offer advanced features to customers. NCR Aloha Cloud is a cloud-based POS system that enhances user experience and helps restaurant operators manage their business more effectively. For example, in May 2022, NCR Voyix Corporation, a US-based software company, introduced NCR Aloha Cloud, a modern POS system for restaurants. This system features next-day deposit financing, compact portable devices, simple payment processing, and an updated user interface. It also includes data analytics, secure payment processing, offline mode, built-in loyalty programs, email marketing, and round-the-clock support, offering a comprehensive solution for the restaurant industry.
What major market segments define the scope and growth 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.
Which key market leaders are driving the point of sale (pos) software industry growth?
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.
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What Is Covered In The Point Of Sale (POS) Software Global Market Report?
•Market Size Forecast: Examine the point of sale (pos) software market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the point of sale (pos) software market for a structured understanding.
•Key Players Overview: Analyze major players in the point of sale (pos) software market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the point of sale (pos) software market.
•Segment Contributions: Evaluate how different segments drive overall growth in the point of sale (pos) software market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the point of sale (pos) software market.
•Industry Challenges: Identify potential risks and obstacles affecting the point of sale (pos) software market.
•Competitive Landscape: Review strategic developments in the point of sale (pos) software market, including expansions, agreements, and new product launches.
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