What Has Been the Progress and Growth of the Retail POS Terminals Market in Recent Years?
The retail pos terminals market has seen considerable growth due to a variety of factors.
• The size of the retail POS terminals market has seen a fast-paced increase in the past few years. The growth is projected to rise from $26.67 billion in 2024 to $29.88 billion in 2025, marking a compound annual growth rate (CAGR) of 12.0%. Factors such as cost reduction and affordability, advanced analytics and reporting, evolution in the retail industry, integration of mobile devices, and the rise of cloud-based solutions have contributed to the growth during the historic period.
How Does the Forecast Look for the Retail POS Terminals Market By 2029?
The Retail POS Terminals market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated growth is on the horizon for the retail POS terminals market, with projections suggesting a surge to $47.31 billion by 2029, referring to a compound annual growth rate (CAGR) of 12.2%.
Factors contributing to this foreseen expansion include improved user interaction, e-commerce and retail store integration, the embracement of subscription-oriented models, adherence to safety policies, data analytics, and personalization. Key trends expected within the forecast period are the enlargement of mobile POS, subscription-driven services, contactless payment methods, omnichannel capacities, customization, and flexibility.
What Are The Leading Drivers Of Growth In The Retail POS Terminals Market?
The rise in cashless transactions is proving to be a major factor in propelling the retail POS terminals market. The term 'cashless payments' denotes transactions that don't involve physical cash, and are instead carried out through mediums such as credit/debit cards, cheques, demand draft, national electronic funds transfer, real-time gross settlement, or other online payment methods. POS terminals in retail stores are leveraged to facilitate these cashless payments, including credit card and debit card payments, by using software to read the magnetic strips on the cards and manage other forms of cashless transactions like mobile payments. As an example, data from UK Finance, a finance services company in the UK, indicates a significant increase in debit card payment volume in 2022, with over 23 billion transactions recorded, a rise from the 19.5 billion in 2021. This surge in cashless transactions is, therefore, bolstering the retail POS terminals market.
How Are The Segments Defined Within The Global Retail POS Terminals Market?
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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How Are New Trends Expected To Influence The Growth Of The Retail POS Terminals Market?
The escalating progress in technology serves as a major trend in the evolving retail POS terminals market. Several leading enterprises are channeling their efforts into formulating cutting-edge POS technology platforms to establish a competitive stronghold in the market. As an example, Shift4, an American payment processing corporation, launched SkyTab POS, a revolutionary point-of-sale (POS) technology, in September 2022. SkyTab POS, equipped with state-of-the-art technology, robust functionality, powerful management tools and various mobile options, helps restaurant owners in effectively managing their enterprise as well as delivering astounding customer experiences. The Android-based software of SkyTab boasts a wide range of features mindful of modernizing and promoting food service operations. Added to this are inbuilt marketing tools, a loyalty program, functionality to order and pay through contactless procedure or QR code, mobile devices allowing tableside ordering and payment, eGift cards along with many other features.
Who Are the Key Players 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
What Is The Most Dominant Region In The Retail POS Terminals Market?
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
