What Has Been The Evolution of the Point Of Sale (POS) Software Market in Recent Years?
The point of sale (pos) software market has seen considerable growth due to a variety of factors.
• The point of sale (POS) software market has experienced rapid growth in recent years. It is expected to expand from $13.09 billion in 2024 to $14.54 billion in 2025, reflecting a compound annual growth rate (CAGR) of 11.1%.
This growth can be attributed to the widespread adoption of smartphones, limited access to traditional POS systems, the rise of cloud-based solutions, early government support for cashless transactions, and the growth of app stores and mobile payment applications.
What Are the Future Growth Projections for the Point Of Sale (POS) Software Market?
The point of sale (pos) software market is expected to maintain its strong growth trajectory in upcoming years.
• The point of sale (POS) software market is expected to grow rapidly, reaching $22 billion by 2029 with a CAGR of 10.9%.
This is due to the rise of biometric authentication, blockchain technology, sustainability efforts, and on-demand delivery services. Trends include AI personalization, social commerce convergence, AR integration, voice-activated payments, and employee experience focus.
What Are The Core Factors Supporting Growth In The Point Of Sale (POS) Software Market?
The growth of the point of sale (POS) software market is predicted to be spurred by the escalating development of the retail and e-commerce sectors. The retail and e-commerce workplaces involve enterprises catering to customers through brick-and-mortar outlets or virtual platforms, promoting product transactions and dispersion. The tremendous growth in these industries can be linked to the expansion of digital markets, shifts in consumer trends, and the advent of digital transformation. POS software plays a vital role in boosting customer satisfaction, enhancing operations and promoting growth in these sectors. For instance, the United States Census Bureau, a government agency, reported in February 2024 that total retail sales for 2023 had a comparative growth of 2.1% from the previous year. Moreover, the International Trade Administration from the United States Department of Commerce predicts that e-commerce sales in Canada will skyrocket to $40.3 billion by 2025, a massive leap from $2.34 billion in March 2022. Hence, the upsurge in the retail and e-commerce sectors is significantly fueling the expansion of the POS software market.
What Are The Major Segments Within The Global Point Of Sale (POS) Software Market?
The point of sale (POS) software market covered in this report is segmented –
1) By Component: Software, Services
2) By Deployment: On-Cloud, On-Premises
3) By Application: Inventory Tracking, Sales Reporting, Purchasing Management, Customer Engagement
4) By End-User: Retail, Healthcare, Government Sector, Media And Entertainment, Warehouses, Hospitality, Other End-Users
Subsegments:
1) By Software: Transaction Management Software, Inventory Management Software, Customer Relationship Management (CRM) Software, Sales Reporting And Analytics Software, Payment Processing Software, Cloud-Based POS Software, Mobile POS Software (mPOS), Multi-Channel POS Software, E-Commerce Integration Software
2) By Services: Consulting And System Design Services, Installation And Integration Services, Training Services, Maintenance And Support Services, Customization Services, Managed Services
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What New Trends Are Influencing The Point Of Sale (POS) Software Market?
Major firms in the point of sale (POS) software market, like NCR Voyix Corporation, are innovating by creating advanced, cloud-based POS systems like the NCR Aloha Cloud. This new system revolutionizes the experience for operators in the foodservice industry with its user-friendly interface and practical features. Launched in May 2022, the NCR Aloha Cloud is a cutting-edge restaurant POS system that comes with many advantages. These include next-day deposit financing, the smallest portable device, straightforward payment processing, and a freshly designed user interface, apart from data analytics capabilities for insightful decision-making. Other standout features of the Aloha Cloud system include secure payment processing, an offline mode, built-in customer loyalty programs, email marketing tools, and round-the-clock support. By offering these, the Aloha Cloud system proves to be a comprehensive, efficient solution perfectly suited to satisfy the demands of the restaurant sector.
Who Are the Key Players In The Point Of Sale (POS) Software Market?
Major companies operating in the point of sale (POS) software market are:
• Samsung Electronics Co. Ltd.
• Panasonic Corporation
• Oracle Corporation
• SAP SE
• Fujitsu Ltd.
• Toshiba Corporation
• NEC Corporation
• Mastercard Inc.
• Fiserv Inc.
• Block Inc.
• NCR Corporation
• Shopify LLC
• Diebold Nixdorf Inc.
• Toast Inc.
• Epicor Software Corporation
• Ingenico SA
• Clover Network Inc.
• Lightspeed Commerce
• VeriFone Inc.
• VeriFone System Inc.
• Aptos LLC
• PAX Technology
• GK Software SE
• Revel Systems
• Blaze Solutions Inc.
• Qashier PTE Ltd.
• Ideal POS Ltd.
What Is The Most Dominant Region In The Point Of Sale (POS) Software Market?
North America was the largest region in the point of sale (POS) software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the point of sale (POS) software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
