Retail POS Terminals Market on Track for Strong Growth, Estimated to Grow at 12% CAGR Through 2029

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What Is the Expected CAGR for the Retail POS Terminals Market Through 2025?
The size of the retail pos terminals market has witnessed swift expansion in the last few years. The market is projected to escalate from $26.67 billion in 2024 to $29.69 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 11.3%. Factors responsible for the past growth include cost decreases and improved affordability, advanced analytics and reporting, development in the retail industry, incorporation of mobile devices, and the rise of cloud-based solutions.

What's the Projected Size of the Global Retail POS Terminals Market by 2029?
The market for retail point of sale (POS) terminals is anticipated to experience a swift expansion in the upcoming years, surging to a worth of $46.7 billion in 2029 with a compound annual growth rate (CAGR) of 12.0%. This projected growth in the forecast period can be credited to improvements in user interaction, alignment of e-commerce with physical store operations, adoption of subscription-based business models, adherence to security protocols, and the utilization of data analytics for personalization. Noteworthy trends predicted within this period consist of the expansion of mobile POS systems, subscription-oriented services, contactless transaction methods, omnichannel capacities, and an increased emphasis on customization and flexibility.

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Top Growth Drivers in the Retail POS Terminals Industry: What's Accelerating the Market?
The booming trend of cashless transactions is playing a significant role in propelling the retail POS terminal market's growth. The term cashless payments pertains to transactions that do not involve physical cash; examples are payments via credit cards, debit cards, cheques, demand drafts, national electronic fund transfers, real-time gross settlement, along with other online payment methods. Retail outlets utilize POS terminals to manage these cashless transactions, which include reading the magnetic strips on credit and debit cards, and accommodating other forms of cashless payments, such as mobile payments. Citing an instance from September 2023, UK Finance, a financial services firm based in the UK, reported a dramatic increase in debit card payments in 2022, with the transaction volume soaring to just over 23 billion transactions, a significant jump from 19.5 billion in 2021. Consequently, the rapid proliferation of cashless transactions plays a crucial role in fueling the growth of the retail POS terminal market.

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What Long-Term Trends Will Define the Future of the Retail POS Terminals Market?
State-of-the-art technology is becoming a trending factor in the retail POS terminal market. To stay competitive, major companies in the market are shifting their focus towards the creation of advanced POS technology platforms. An example of this is the US-based payment processing company, Shift4, which unveiled their new product, SkyTab POS, in September 2022. This next-gen POS technology includes top-of-the-line equipment, powerful management tools, various mobile options, and robust functionality. SkyTab's all-in-one solution allows restaurant owners to efficiently manage all aspects of operations while offering remarkable customer service. SkyTab's Android software also offers a wide range of features designed to modernize and empower food service businesses, including built-in marketing instruments, a loyalty rewards program, contactless/QR code ordering and payment, mobile device compatibility for tableside transactions, eGift cards, and many more.

What Are the Main Segments in the Retail POS Terminals Market?
The retail pos terminalsmarket 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, Supermarkets Or Hypermarkets, 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 Top Companies are Driving Growth in the Retail POS Terminals Market?
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 Will Dominate the Retail POS Terminals Market Through 2029?
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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