Point Of Sale Market Set to Reach $110.85 Billion by 2029 with 19.8% Yearly Growth

How Are the key drivers contributing to the expansion of the point of sale market?
The expected surge in the point of sale market is directly correlated to the increasing acceptance of contactless payments. These payments, which offer high security, involve consumers paying for products or services by simply waving or tapping a card, smartphone, or wearable device that is capable of making payments near a compatible payment device, eliminating the need for direct contact. The escalating use of this payment method can be attributed to its convenience, speed, advanced security features, the ubiquity of smartphones and wearable devices, as well as the shift towards payment methods that emphasize hygiene, particularly in the post-pandemic world. The widespread use of Point of Sale (POS) systems further encourages the use of contactless payments by granting merchants the ability to conduct secure, quick, and hassle-free transactions using NFC-enabled devices. This not only enhances customer satisfaction but also encourages wider usage. For example, in January 2024, the European Central Bank, based in Germany, stated that the volume of contactless card transactions in the first half of 2023 rose by 24.3% from 20.9 billion, witnessed in the first half of 2022. The gross value correspondingly increased by 25.9% totaling €0.5 trillion ($545.27 billion). Hence, it can be concluded that this rise in contactless payments plays a fundamental role in accelerating the point of sale market's growth.

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What growth opportunities are expected to drive the point of sale market's CAGR through 2034?
The scale of the point of sale market has experienced significant growth in recent years. The market size is projected to expand from $44.84 billion in 2024 to $53.84 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 20.1%. Factors contributing to the growth during the historic period include the increasing desire for a better customer experience, burgeoning online shopping trends, the widespread use of digital payments, the development of small and medium-sized businesses, and a boom in mobile and cloud-based solutions.

Anticipations are high for the point of sale market size to experience a significant surge in the coming years. By 2029, the predictions are of a rise to $110.85 billion, with a CAGR of 19.8%. Various factors contributing to this projected growth include expansion of e-commerce and seamless retailing, legal amendments and compliance needs, rise in the retail and hospitality industries, heightened emphasis on security and fraud prevention, and an upswing in contactless payment techniques. Noteworthy trends during the forecast duration include higher acceptance of near-field communication (NFC) and quick response (QR) code payments, an escalation in the use of tablet and smartphone-based POS systems, the introduction of sophisticated encryption and fraud detection methodologies, incorporation of facial and fingerprint recognition, and the potential use of blockchain for secure, transparent and effective transaction execution.

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What are the emerging trends shaping the future of the point of sale market?
Predominant businesses in the point of sale market are concentrating on the creation of cutting-edge open banking payment solutions. Their goal is to offer vendors a cost-efficient, effective payment technique that also increases client ease. Open banking payment solutions grant third-party entities secure access to a user's bank account data to initiate payments or deliver financial services, utilizing open APIs for enhanced transparency and efficiency. For instance, in February 2024, Acquired Limited, a firm based in the UK that provides businesses with payment infrastructure and solutions, collaborated with MultiPay Global Solutions, another UK-based firm specializing in payment technology, to introduce Pay by Bank for Point of Sale (POS). This platform facilitates direct bank payments through a quick response (QR) code, doing away with interchange and scheme charges for traders and promoting immediate access to cash. For clients, it offers a seamless payment process, eliminating the need for extra app installations, and securing prompt and easy transactions.

Which growth-oriented segments of the point of sale market are leading the industry's development?
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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Which region dominates the point of sale market?
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 companies are at the forefront of innovation in the point of sale market?
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.

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

•Market Size Forecast: Examine the point of sale market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the point of sale market for a structured understanding.
•Key Players Overview: Analyze major players in the point of sale market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the point of sale market.
•Segment Contributions: Evaluate how different segments drive overall growth in the point of sale market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the point of sale market.
•Industry Challenges: Identify potential risks and obstacles affecting the point of sale market.
•Competitive Landscape: Review strategic developments in the point of sale market, including expansions, agreements, and new product launches.

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