As per MRFR Analysis, the POS Software Market was valued at USD 15.5 billion in 2021 and is projected to grow from USD 17.71 billion in 2022 to USD 45.05 billion by 2030, with a CAGR of 14.27% during the forecast period (2024-2030). The growth is driven by the increasing adoption of cashless transactions, sales tracking, and inventory management across various sectors including retail, hospitality, and automotive. The market is witnessing a shift towards cloud-based solutions, enhancing business mobility and flexibility.
Key trends driving the POS software market include increased mobility and cloud adoption.
Key players include Block, Inc., Toast, Inc., NCR Corporation, Microsoft Corporation, and Shopify.
Figure 1: POS Software Market Size, 2022-2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
A cloud-based POS system can be accessed from any device with an internet connection. This provides the flexibility for real-time viewing of labor usage percentages, inventory counts, and productivity reports. The information can be instantly updated and accessed round-the-clock from any remote location. This advantage of cloud POS increases the flexibility in business operations. Moreover, cloud POS can be configured on a portable device, which enables users to move around along with the equipment. It also provides the advantage of adding more mobile devices to your existing system for enhanced mobility. This advantage enables customers to leverage the functionality of a mobile POS (mPOS) system. The increased mobility advantage provided by cloud POS deployments is expected to fuel the demand for cloud POS systems in the future.
There is a growing demand for robust and cost-effective POS solutions with advanced functionality to handle complex business operation scenarios, such as managing inventory, customers, payment, billing, and employees. Easy installation, either on desktop, laptop, or tablet, is bolstering the market growth. Furthermore, the growing adoption of cloud-based solutions, such as mPOS software and web-based POS solution, is gaining traction among small and medium businesses. Affordability and integration with CRM and other financial solutions are expected to boost industry growth over the forecast period.
Based on the component, the global POS software market segmentation includes software and service. The service segment held the majority share in 2021, accounting for approximately 51-55% of the global POS software market revenue. The increasing demand for cloud-based systems is accelerating the segment's growth, providing numerous additional benefits such as on-demand services and flexibility. In addition, it also benefits the retailers to run their businesses anywhere via any mobile device services. POS services include payment services, along with management services, gateway services, and maintenance services. These services help business clients as well as organizations by maximizing resource usage and streamlining marketing operations. SaaS, compared to traditional POS systems, is a partnership model with no up-front payments made as in the case of a traditional POS system. The monthly fees cover software, support, backups, and future upgrades.
Figure 2: POS software market, by technology, 2022 & 2030 (USD billion)
Source: Secondary Research, Primary Research, and Analyst Review
Based on deployment, the global POS software market segment includes on-cloud and on-premises. On-premise dominated the global market in 2021 and is expected to be the fastest-growing segment during the forecast period of 2022-2030 primarily due to data security and greater control offered by this deployment model. The large enterprises contributed to the high demand for on-premise deployment of POS software as they need separate front-end and back-end solutions to limit access to critical financial and business information. Moreover, the control over data and security concerns have compelled large enterprises to opt for on-premise software deployment.
Furthermore, the cloud deployment POS software is expected to exhibit the highest CAGR from 2023 to 2030. This growth is credited to the high demand due to low-cost deployment on the cloud, which enables the adaption of changing business landscape. The cloud-based deployment is ideal for small- and medium-sized businesses that require timely software up-gradation to support expanded business requirements. The cloud deployment offers remote access, affordable subscription-based pricing, endpoint security, sales management, and an all-in-one solution for inventory management.
The global POS software market segmentation, based on the operating system, includes iOS, android, and windows. The windows segment had the highest global market revenue share in 2021. Fixed systems are more secure in terms of data privacy, hence a popular choice among several end-users.
Based on the application, the global POS software market segment includes inventory tracking, sales reporting, purchasing management, and customer engagement. In 2021, the sales reporting segment held the highest market revenue share. The vast retail sector includes clothing, accessories, grocery, packaged product, electronics, and much more that require POS software as per the nature of the business function. The retail industry gradually shifted from brick-and-mortar stores to multi-channel (social media) and e-commerce retailing, thereby driving sales reporting POS software market revenue.
Based on type, the global POS software market segment includes fixed POS and mobile POS. Fixed POS dominated the global market in 2021 and is expected to be the fastest-growing segment during the forecast period of 2022-2030 owing to the increased preference among FSRs and QSRs. Fixed systems are more secure in terms of data privacy, hence a popular choice among several end-users.
Moreover, the introduction of wireless technology evolved the payment method and business operations. The POS software integrated on tablets or smartphones provides a quick payment option via apps without the need to connect local networks with the system. This ease of payment has propelled the segment's growth. Moreover, small businesses are adopting mobile POS due to its affordability, mobility, and broader application for payment processing and inventory & store management, contributing to the segment growth.
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American POS software market is anticipated to expand at a significant CAGR during the study period, accounting for USD 6.68 billion in 2021. The rising demand for PoS in North America is driven by the increasing adoption of cloud-based PoS software among merchants in the U.S. and developing these platforms across North American countries. The U.S. is emerging as a prime segment in the North American POS software market, followed by Canada and Mexico. North America is an early adopter of mPOS and advanced technological infrastructure. Many companies across the region are focusing on providing POS solutions and services.
Moreover, the major countries covered in the market report include the United States, Germany, Canada, France, the United Kingdom, Italy, Spain, India, Japan, Australia, China, South Korea, and Brazil.
Figure 3: POS Software MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, and Analyst Review
The European POS software market is the world's second-largest owing to the huge amounts of technology and digitizing data. The market in Europe is driven by the increasing adoption of cloud solutions among small and medium-scale enterprises. Such an increase in the development of cloud-based PoS solutions by the leading players to meet growing retail and restaurant industries' demand has propelled the market growth. Further, the German POS software market held the largest market share, and the France POS software market was the fastest-growing market in the European region.
The Asia Pacific POS software market is expected to grow at the fastest rate of CAGR during the forecast period owing to several device manufacturers and the rising number of shipments from these regions. Furthermore, the Asia Pacific market is driven by the increasing acceptance of digital payment methods by retailers, restaurants, and other end-users. Moreover, China’s POS software market held the largest market share, and the Indian POS software market was the fastest-growing market in the Asia-Pacific region.
The global market is consolidated by leading players such as Block, Inc., Toast, Inc., and NCR Corporation. These key players are expanding their operations by adopting strategies such as mergers, acquisitions, product launches, collaborations, and partnerships. The vendors are further focused on offering differentiated solutions for industry-specific operations at affordable prices. The niche players in the market are also strongly competing in the local market to capture the underlying opportunity across end-users.
Block Inc (Block), formerly Square Inc is a financial technology company, specialized in providing payment processors and point-of-sale (POS) solutions for merchants. Its POS solution provides payment, reporting and analytical, payroll, and customer engagement tools to manage their bill payments, employee recruitment, employees working schedules, payrolls, sales, and promotional activities. The company also offers hardware products such as contactless and chip readers, magstripe readers, and stands. In May 2022, Square Inc launched a new hardware and software restaurant solution, Square for Restaurants mobile PoS. This updated system runs on two handheld devices: Restaurant Mobile PoS kit and Square Terminal. Furthermore, this system supports all-in-one order management and tableside service, increasing the efficiency of operations.
Fujitsu supplies integrated services and solutions throughout the product portfolio to support OEMs and original design manufacturers (ODMs.) These encompass EMEA's leading alternative energy, automotive, healthcare, retail, networking & communications, Industry 4.0 and building automation sectors. In February 2021, Fujitsu Components America launched a new Point of Sale printer that generates receipts and linerless labels. It is an all-in-one PoS printer, FP-2000CL, that tackles multiple printing tasks and enhances efficiency.
Toast Inc (US)
Square Inc (US)
TouchBistro Inc (Canada)
Poster POS (Ukraine)
Vend (New Zealand)
Miva Inc (US)
Lightspeed (Canada)
Shopify (Canada)
Salesforce.com Inc (US)
Intuit (US)
Bindo POS (US)
Erply (US)
GOFRUGAL (Dubai)
April 2022: Toast Inc launched a solution for Quick-Service Restaurants. This solution will help restaurants function their business across all activities, including Point of Sale (PoS), digital ordering, operations, and team management. Furthermore, this will help restaurants speed up processes, increase revenue, and deliver unique guest experiences.
April 2020: PAX Global Technology Limited launched its Android PayTablet, M8, with a fully-integrated Smart PoS payment processing system. This device is specifically designed for hospitality operators and high-end retailers wherein android apps for online orders, in-store checkout, and VAT refunds can run parallel with payment acceptance.
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
| Report Attribute/Metric | Details |
| Market Size 2021 | USD 15.5 billion |
| Market Size 2022 | USD 17.71 billion |
| Market Size 2030 | USD 45.05 billion |
| Compound Annual Growth Rate (CAGR) | 14.27% (2024-2030) |
| Base Year | 2021 |
| Market Forecast Period | 2024-2030 |
| Historical Data | 2018 & 2020 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, Type, Deployment, Operating System, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Microsoft Corporation (US), Toast Inc (US), Square Inc (US), TouchBistro Inc (Canada), Poster POS (Ukraine), Vend (New Zealand), Miva Inc (US), Lightspeed (Canada), Shopify (Canada), Salesforce.com Inc (US), Intuit (US), Bindo POS (US), Erply (US), GOFRUGAL (Dubai) |
| Key Market Opportunities | Rising adoption of cloud-based POS and AI integration in POS systems |
| Key Market Dynamics | Growing adoption of POS system for better customer experience Increased digitalization across organizations |
Frequently Asked Questions (FAQ) :
The global POS software market size was valued at USD 15.5 Billion in 2021.
The global market is projected to grow at a CAGR of 14.27% during the forecast period, 2024-2030.
In 2022, North America had the largest revenue share of the global market.
The key players in the market are Microsoft Corporation (US), Toast Inc (US), Square Inc (US), TouchBistro Inc (Canada), Poster POS (Ukraine), Vend (New Zealand), Miva Inc (US), Lightspeed (Canada), Shopify (Canada), Salesforce.com Inc (US), Intuit (US), Bindo POS (US), Erply (US), and GOFRUGAL (Dubai).
The service category dominated the market in 2021.
In 2021, the on-premise had the largest global market share.
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Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
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