Global Retail POS Terminals Market Projected to Grow at 12.2% CAGR, Reaching $47.31 Billion by 2029

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What Will the Retail POS Terminals Industry Market Size Be by 2025?
The size of the retail POS terminals market has witnessed swift expansion in the past few years. It is projected to increase from $26.67 billion in 2024 to a staggering $29.88 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 12.0%. The historic period growth can be traced back to factors such as cost reduction and affordability, improved analytics and reporting, the evolution of the retail industry, the integration of mobile devices, and the introduction of cloud-based solutions.

What's the Long-Term Growth Forecast for the Retail POS Terminals Market Size Through 2029?
The size of the retail POS terminals market is projected to undergo swift expansion in the coming years, reaching a valued amount of $47.31 billion in 2029 with a compound annual growth rate (CAGR) of 12.2%. This growth during the forecast period could be credited to factors such as improved user interaction, integration of in-store and e-commerce platforms, adoption of subscription-based models, adherence to security norms, data analysis, and personalization. Significant market trends for the forecast period encompass mobile POS development, subscription-driven services, contactless payments, omnichannel capabilities, customization, and adaptability.

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What Are the Key Growth Drivers Fueling the Retail POS Terminals Market Expansion?
The rise in cashless transactions is a key factor propelling the growth of the retail POS terminals market. Cashless transactions consist of payments made or received without physical cash, such as through credit/debit cards, cheques, demand drafts, national electronic funds transfers, real-time gross settlements, or different online payment methods. Retail stores utilize POS terminals to handle these cashless payments, with software that can read the magnetic strips on credit and debit cards and complete other forms of cashless payments, like mobile payments. For example, data from UK Finance, a financial services firm based in the UK, revealed in September 2023 that there was a substantial increase in debit card payments. In 2022, the number of transactions reached just over 23 billion, which was a jump from 19.5 billion in 2021. Thus, the growing trend of cashless transactions is fuelling the expansion of the retail POS terminals market.

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What Are the Key Trends Driving Retail POS Terminals Market Growth?
The emergence of cutting-edge technology is a prime trend gaining traction in the retail POS terminals market. To stay competitive, major firms in this market are pioneering the development of advanced POS technology platforms. An example of this is Shift4, a payment processing firm based in the United States, which launched the SkyTab POS, a state-of-the-art point-of-sale (POS) technology, in September 2022. This innovative platform integrates advanced equipment, robust functionality, potent management tools, and a variety of mobile options. Thanks to SkyTab, restaurant owners can take control of all aspects of their business and offer stellar customer experiences. SkyTab's software for Android comes with a wide array of features designed to streamline and boost food service operations. Plus, it comes with built-in marketing tools and loyalty program, contactless/QR code ordering and payment systems, mobile devices for tableside orders and payments, eGift cards, among other features.

How Is the Retail POS Terminals Market Segmented?
The retail pos terminals market covered in this report is segmented -

1) By Component: Services, Software, Hardware
2) By Product: Fixed POS Terminal, Portable POS Terminal, Self-Service Kiosks
3) By Application: Department Stores, Warehouse, Discount Stores, Super markets Or Hyper markets, Convenience, Specialty Stores

Subsegments:
1) By Services: Installation Services, Maintenance And Support Services, Training Services, Consulting Services
2) By Software: POS Software, Inventory Management Software, Customer Relationship Management (CRM) Software, Payment Processing Software
3) By Hardware: POS Terminals, Barcode Scanners, Receipt Printers, Payment Terminals

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Which Companies Are Leading the Charge in Retail POS Terminals Market Innovation?
Major companies operating in the retail pos terminals market include Epicor Software Corporation, Ingenico Group, NCR Corporation, Panasonic Corporation, PAX Technology Inc., Samsung Electronics Co. Ltd., Toshiba Corporation, VeriFone Systems Inc., Shopify Inc., Zettle by PayPal, Block Inc., Lightspeed Commerce, Clover Network LLC, Cegid Group, Ctac N.V., Fujitsu Ltd., Casio Computer Co. Ltd, Diebold Nixdorf, Agilysys Inc., GK Software SE, Infor Inc., Aptos Inc., Toast Inc., TouchBistro Inc., Bindo Labs Inc., SumUp, Clip

Which Regions Are Leading the Global Retail POS Terminals Market in Revenue?
North America was the largest region in the retail POS terminals market in 2024. The regions covered in the retail pos terminals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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