What Has Been the Growth of the Point Of Sale Market So Far?
The point of sale market has seen considerable growth due to a variety of factors.
• The expansion of the point of sale market size has been significant in the past few years. The prediction is for the market to increase from $44.84 billion in 2024 to $53.84 billion in 2025, maintaining a compound annual growth rate (CAGR) of 20.1%.
This uptick during the historical period can be linked to factors such as the need for improved customer services, the growth in the online shopping sector, the rise in digital payments, the development of small and medium businesses, and the popularity of mobile and cloud-based solutions.
How Will the Point Of Sale Market?
The point of sale market is expected to maintain its strong growth trajectory in upcoming years.
• The size of the point of sale market is anticipated to undergo rapid expansion in the subsequent years, reaching a substantial figure of $110.85 billion by 2029 with a CAGR of 19.8%.
This anticipated growth in the projected period is mainly due to the surge in e-commerce and omnichannel retail, regulatory modifications and compliance needs, development in the retail and hospitality industry, an increasing emphasis on security and fraud prevention, and a boost in contactless payment options. The projected period will also witness key trends such as rising usage of near-field communication (NFC) and quick response (QR) code payments, expansion in tablet and smartphone-based POS solutions, application of advanced encryption and fraud detection technologies, embracing fingerprint and facial recognition, and the initiation of blockchain for secure, transparent, and efficient transaction management.
Which Factors Are Boosting Growth In The Point Of Sale Market?
The surge in the use of contactless payments is predicted to boost the future growth of the point of sale market. Contactless payments, which involve using a payment-enabled card, smartphone, or wearable device to tap or wave near a compatible payment terminal, provide a secure transaction method that eliminates the need for physical contact. The increased convenience, speed, superior security features, prevalence of smartphones and wearable devices, and a shift towards hygiene-conscious payment methods, particularly after the pandemic, are all contributing to this surge. Point of sale (POS) systems further encourage the use of contactless payments by facilitating quick, secure, and easy transactions via NFC-enabled devices, enhancing customer satisfaction and encouraging wider use. The European Central Bank, for example, reported a 24.3% rise in contactless card payments in the first half of 2023 compared to the first half of 2022, with the corresponding total value increasing by 25.9% to €0.5 trillion ($545.27 billion). Thus, the growing popularity of contactless payments is stimulating the expansion of the point of sale market.
What Key Areas Define The Segmentation Of The Global Point Of Sale Market?
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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How Are Emerging Trends Reshaping The Dynamics Of The Point Of Sale Market?
Key players in the point of sale industry are concentrating their efforts on the creation of innovative open banking financial solutions. These aim to offer sellers an effective and economical payment method, which also increases customer ease. Open banking payment solutions permit third-party entities to securely obtain a user's bank account details to commence payments or offer financial services. This makes use of open APIs for heightened transparency and efficiency. For example, in February 2024, Acquired Limited, a UK enterprise that offers payment infrastructure and solutions to businesses, collaborated with MultiPay Global Solutions, a payments technology firm also based in the UK. They together launched Pay by Bank for Point of Sale (POS), a platform that facilitates direct bank payments through a quick response (QR) code. This removes exchange and scheme costs for sellers and grants instant access to funds. For the consumers, it provides a seamless payment experience without the requirement for extra app downloads, promising swift and uncomplicated transactions.
Who Are the Key Players 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.
What Is The Most Dominant Region In 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.
