Retail Point of Sale Market Size, Share, Trend, and Industry Growth 2032

Retail Point of Sale Market Insights

According to Zion Market Research, the global Retail Point of Sale Market was worth USD 18.41 Billion in 2023. The market is forecast to reach USD 28.56 Billion by 2032, growing at a compound annual growth rate (CAGR) of 5% during the forecast period 2024-2032.

The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Retail Point of Sale Market industry over the next decade.

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Market Overview

A point of sale is a location where customers complete the payment process for products or services, as well as pay sales tax. It can be in a physical store where a machine and point of sale terminal are used to accept payments, or it can be a virtual sales point such as a handheld electronic device or a computer system.

Growth Factors

Consumers' increasing interest in non-cash transactions, as well as improved data visibility across cloud POS systems, are the main growth factors for the industry.

Growing interest in non-cash transactions among consumers, Security, growth on saved funds in accounts, better money management, and versatility are some of the main benefits of going cashless that are attracting more customers. Consumers can now make various forms of digital payments using their bank cards, allowing them to avoid using cash. Due to growing concerns about the safety of handling cash transactions because of the COVID-19 pandemic, merchants and customers alike are turning to contactless payment methods to avoid being compromised.

As improved data visibility across cloud POS systems, Cloud-based POS systems that allow for automated, frequent software updates without the need for a professional's physical presence help save money on additional upgrades. Consumer demand is also being driven by the need for barcode reading, image scanners, inventory management, invoice management, and payment facilities in the healthcare, retail, entertainment, restaurant, and hospitality sectors.

End-Users Segment Analysis

Discount stores, gas stations, convenience stores, specialty stores, grocery stores, supermarkets, and others are some of the end-user segments of the industry. The grocery store segment dominates the global retail point-of-sale market, owing to large chain grocery stores' use of technology to make the job easier. Grocery stores now continue to use POS programs to meet consumer expectations by facilitating faster checkouts and easy management. In 2019, the retail segment dominated the industry. The retail industry is the largest consumer of point-of-sale apps. With the rise of multi-channel and e-commerce retailing, the industry is rapidly evolving and is expected to perform better during the forecast era.

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Deployment Modes Segment Analysis

The market can be divided into cloud and on-premises deployment modes. Because of the high adoption rate by large companies, the on-premises segment has a monopoly over the cloud. The on-premises segment, which operates on a local server rather than a remote facility, had the largest market share in 2019, owing to higher adoption by large enterprises. Large businesses have a large amount of confidential consumer data that is vulnerable to a data breach. As a result, on-premises device implementation gives the owner more flexibility, ensuring greater data protection.

With technological advances, cloud-based implementation has begun to gain momentum. Furthermore, the software for mobile POS systems has gained popularity because of the ease with which these small devices can be used for fast payment services.

Regional Segment Analysis

The North American region is projected to grow at a CAGR of 10.8% over the forecast period. North America holds the largest share of the global retail point-of-sale market. In addition, the regional market's growth is aided by the high adoption rate of the advanced integrated system. Furthermore, the digital payment adoption, as well as the expansion of the retail, restaurant, hospitality, healthcare, and other industries in North America, are expected to drive market growth over the forecast period.

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Asia Pacific is projected to develop at a significant CAGR. The market is expected to expand due to increased adoption of POS terminals in the area as the electronic payment industry grows. Furthermore, the rising demand for POS solutions with advanced features among rapidly growing businesses such as e-commerce, retail, foodservice, and entertainment is expected to propel market growth over the forecast period.

Retail Point of Sale Market: Report Scope

Key Market Players & Competitive Landscape

Some of key players in retail point-of-sale market are

• Zebra Technologies,
• Vend,
• Revel System,
• Cegid Group,
• HP,
• New POS Technology,
• Newland Payment Technology,
• Castles Technology,
• Elavon,
• Clover.

Due to the large number of POS software retailers in the industry, there is fierce rivalry. To expand their market share, the retailers have used a combination of inorganic and organic growth strategies.

The global retail point of sale market is segmented as follows:

 By End-Users

• Discount Stores
• Gas Stations
• Convenience Stores
• Specialty Stores
• Grocery Stores
• Supermarkets
• Others

By Organization Size

• Large Enterprises
• Medium Enterprises
• Small Enterprises

By Deployment Modes

• Cloud
• On-Premises

By Applications

• Mobile POS
• Fixed POS

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa