Retail Point Of Sale Market Size was estimated at 28.7 (USD Billion) in 2023. The Retail Point Of Sale Market Industry is expected to grow from 30 (USD Billion) in 2024 to 92.5 (USD Billion) by 2032. The Retail Point Of Sale Market CAGR (growth rate) is expected to be around 15.1% during the forecast period (2023 - 2032).
Technological advancements in retail point of sale (POS) systems are propounded further by the necessity for the integration of channels as well as the growth of e-business. These systems afford information in real time to the retailers enabling them to manage business efficiency, customer satisfaction, and revenues. Moreover, the availability of mobile devices and the rise of unattended checkout systems are also contributing to the growth of new and adaptive POS systems.
Key market enablers include a growing need to better attend to customers, the propensity to rationalize processes, and the proliferation of cashless payment options. Areas to be capitalized upon include the creation of wireless services in POS, the application of AI and machine learning, and the diversification of product lines into active markets.
Current innovations include the use of POS variations that allow payments on a mobile phone, the use of loyalty schemes, and advanced data analysis for better control of businesses. All these trends are anticipated to persist in the advantage years, as the retailers will want to make strategic use of technology for competitiveness.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The retail industry is rapidly adopting cloud-based POS systems due to their numerous advantages. These systems offer businesses greater flexibility, scalability, and cost-effectiveness compared to traditional on-premises solutions. Cloud-based POS systems can be accessed from anywhere with an internet connection, making it easier for businesses to manage their operations remotely. They also allow businesses to scale their operations up or down as needed without having to invest in additional hardware or software. Additionally, cloud-based POS systems typically offer lower upfront costs than on-premises solutions, making them a more attractive option for small businesses and startups. The increasing adoption of cloud-based POS systems is expected to be a major driver of growth for the Retail Point Of Sale Market Industry over the forecast period.
The growing popularity of mobile devices, such as smartphones and tablets, has led to an increasing demand for mobile POS systems. Mobile POS systems allow businesses to accept payments and manage their operations from anywhere. This is especially beneficial for businesses that operate in multiple locations or that have employees who are constantly on the go. Mobile POS systems are also more affordable and easier to use than traditional POS systems, making them a more attractive option for small businesses and startups. The growing demand for mobile POS systems is expected to be a major driver of growth for the Retail Point Of Sale Market Industry over the forecast period.
Artificial intelligence (AI) is increasingly being used in POS systems to improve efficiency and customer service. AI-powered POS systems can automate tasks such as order taking, payment processing, and inventory management. This frees up employees to focus on more value-added activities, such as providing customer service and up selling products. AI-powered POS systems can also provide businesses with valuable insights into customer behavior, which can help them improve their marketing and sales strategies. The rising adoption of AI in POS systems is expected to be a major driver of growth for the Retail Point Of Sale Market Industry over the forecast period.
The Retail Point Of Sale Market segmentation by deployment model comprises cloud-based and on-premises solutions. Cloud-based solutions are anticipated to capture a larger market share due to their scalability, cost-effectiveness, and ease of deployment. These solutions eliminate the need for upfront investment in hardware and software, making them attractive for small and medium-sized businesses. Furthermore, cloud-based solutions offer real-time data access and analysis capabilities, enabling businesses to make informed decisions and respond quickly to market trends. The on-premises segment, however, is expected to retain a significant market share due to its high level of customization and control. Enterprises with specific security and compliance requirements may prefer on-premises solutions to maintain complete ownership and control over their data. Additionally, on-premises solutions offer greater flexibility in terms of customization and integration with existing systems, making them suitable for large and complex organizations.
Overall, the deployment model segmentation in the Retail Point Of Sale Market presents diverse options for businesses to choose from based on their specific needs and preferences. The market growth is driven by the increasing adoption of cloud-based solutions and the ongoing digital transformation of the retail industry. As businesses seek to enhance their operational efficiency, improve customer experiences, and gain competitive advantage, the demand for advanced and innovative retail point of sale solutions is expected to continue to rise in the coming years.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The Retail Point Of Sale Market is segmented by Form Factor into Fixed POS and Mobile POS. In 2023, the Fixed POS segment accounted for a larger revenue share of the market, and it is expected to continue its dominance during the forecast period. The growth of this segment can be attributed to the increasing adoption of advanced POS systems by large retail enterprises. Mobile POS, on the other hand, is gaining popularity among small and medium-sized businesses due to its flexibility and cost-effectiveness. The growing adoption of mobile payments and the increasing penetration of smartphones are expected to drive the growth of the Mobile POS segment in the coming years.
The Retail Point Of Sale Market is segmented by Scale into Small Business, Midmarket, and Large Enterprise. Among these segments, the Large Enterprise segment is expected to hold the largest market share in 2023, accounting for over 35% of the Retail Point Of Sale Market revenue. This is due to the increasing adoption of advanced POS systems by large enterprises to streamline their operations, improve customer experience, and gain a competitive advantage. The Small Business segment is expected to experience significant growth over the forecast period, driven by the increasing adoption of cloud-based POS systems by small businesses to reduce costs and improve efficiency. The Midmarket segment is also expected to witness steady growth, as mid-sized businesses seek to improve their operations and customer service capabilities.
The Retail Point Of Sale Market is segmented by vertically into retail, hospitality, healthcare, and education. The hospitality segment is expected to grow at a CAGR of 4.9% during the forecast period. The healthcare segment is expected to grow at a CAGR of 5.1% during the forecast period. The education segment is expected to grow at a CAGR of 4.7% during the forecast period. The growth of the Retail Point Of Sale Market is attributed to the increasing adoption of cloud-based and mobile POS systems. The cloud-based POS systems offer benefits such as flexibility, scalability, and cost-effectiveness. The mobile POS systems offer convenience and portability. The increasing demand for omnichannel retailing is also driving the growth of the Retail Point Of Sale Market. Omnichannel retailing allows customers to shop across multiple channels, including online, in-store, and mobile. This requires retailers to have a unified POS system that can track customer activity across all channels.
The Processor Type segment of the Retail Point Of Sale Market is segmented into x86 and ARM. Among these, the x86 segment held the largest market share in 2023, and it is expected to continue its dominance throughout the forecast period. The growth of this segment can be attributed to the increasing adoption of x86-based processors in POS systems due to their high performance and reliability. The ARM segment, on the other hand, is expected to witness significant growth during the forecast period. This growth can be attributed to the increasing popularity of ARM-based processors in mobile POS systems and other low-power devices. ARM processors are known for their low power consumption and cost-effectiveness, making them ideal for use in portable and battery-powered devices. Overall, the Processor Type segment is expected to contribute significantly to the growth of the Retail Point Of Sale Market over the next few years. The increasing adoption of advanced POS systems and the growing popularity of mobile POS devices are expected to drive the growth of this segment.
The Retail Point Of Sale Market has been segmented regionally into North America, Europe, Asia-Pacific (APAC), South America, and the Middle East and Africa (MEA). North America held the largest market share in 2023 and is expected to maintain its dominance throughout the forecast period. The growth in this region can be attributed to the increasing adoption of advanced POS systems by retailers to enhance customer experience and operational efficiency. Europe is expected to be the second-largest market, followed by APAC. The APAC region is expected to witness significant growth over the forecast period, due to the rising number of retail outlets and the increasing popularity of e-commerce in the region. South America and the MEA are expected to be the smallest markets, but they are expected to grow at a steady pace over the forecast period.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Major players in the Retail Point Of Sale Market industry are constantly innovating and developing new products to meet the evolving needs of their customers. Leading Retail Point Of Sale Market players are focusing on providing integrated solutions that combine hardware, software, and services to offer a comprehensive experience to retailers. The Retail Point Of Sale Market development of cloud-based POS systems is also gaining traction, as it offers retailers greater flexibility and scalability. The Retail Point Of Sale Market Competitive Landscape is highly competitive, with a number of established players and emerging startups vying for market share. Key players in the market include Oracle, SAP, NCR, Toshiba, and Diebold Nixdorf.NCR is a leading provider of POS systems and other retail technology solutions. The company offers a wide range of POS hardware and software, as well as a suite of cloud-based services. NCR's POS systems are used by a variety of retailers, including grocery stores, department stores, and specialty stores.
The company has a strong presence in North America and Europe and is expanding its reach into Asia-Pacific and Latin America. Diebold Nixdorf is another major player in the Retail Point Of Sale Market. The company offers a range of POS systems, as well as other retail technology solutions such as self-checkout kiosks and cash recyclers. Diebold Nixdorf's POS systems are used by a variety of retailers, including banks, convenience stores, and grocery stores. The company has a strong presence in North America and Europe and is expanding its reach into Asia-Pacific and Latin America.
Micros
Square
Toast POS
VeriFone
PAX Global Technology
Clover Network
Revel Systems
Toshiba TEC
NCR
Shopify
Vend
Lightspeed POS
Ingenico
Diebold Nixdorf
The global Retail Point of Sale (POS) market is projected to grow from an estimated USD 56.33 billion in 2023 to USD 85.9 billion by 2032, exhibiting a CAGR of 4.8% during the forecast period. The increasing adoption of cloud-based POS systems, the growing demand for mobile POS solutions, and the rising popularity of omnichannel retailing are major factors driving market growth. Recent developments in the market include the launch of AI-powered POS systems that offer features such as facial recognition, predictive analytics, and automated inventory management. Additionally, the integration of IoT devices with POS systems is enhancing data collection and providing valuable insights into customer behavior. These advancements are expected to further fuel market expansion in the coming years.
Cloud-based
On-premises
Fixed POS
Mobile POS
Small Business
Midmarket
Large Enterprise
Retail
Hospitality
Healthcare
Education
x86
ARM
North America
Europe
South America
Asia Pacific
Middle East and Africa
| Report Attribute/Metric | Details |
| Market Size 2023 | 28.7 (USD Billion) |
| Market Size 2024 | 30 (USD Billion) |
| Market Size 2032 | 92.5 (USD Billion) |
| Compound Annual Growth Rate (CAGR) | 15.1% (2024 - 2032) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year | 2023 |
| Market Forecast Period | 2024 - 2032 |
| Historical Data | 2019 - 2023 |
| Market Forecast Units | USD Billion |
| Key Companies Profiled | Micros, Square, Toast POS, VeriFone, PAX Global Technology, Clover Network, Revel Systems, Toshiba TEC, NCR, Shopify, Vend, Lightspeed POS, Ingenico, Diebold Nixdorf |
| Segments Covered | Deployment Model, Form Factor, Scale, Vertical, Processor Type, Regional |
| Key Market Opportunities | Cloudbased POS AI powered analytics Mobile payments Self-checkout kiosks Omnichannel integration |
| Key Market Dynamics | Ecommerce growth, Cloud and mobile POS adoption, Data analytics integration, Omnichannel integration, Contactless payment options |
| Countries Covered | North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Retail Point Of Sale Market is projected to be valued at USD 30 Billion in 2024.
The Retail Point Of Sale Market is projected to grow at a CAGR of 15.1 % from 2024 to 2032.
The growth of the Retail Point Of Sale Market is driven by factors such as the increasing adoption of omnichannel retailing, the rising popularity of mobile payments, and the growing demand for personalized shopping experiences.
The major regions contributing to the growth of the Retail Point Of Sale Market are North America, Europe, Asia-Pacific, and the Rest of the World.
The key competitors in the Retail Point Of Sale Market include companies such as NCR, Diebold Nixdorf, Verifone, Ingenico, and PAX.
Retail Point Of Sale systems are used in a variety of applications, including checkout, inventory management, customer relationship management, and data analytics.
The emerging trends in the Retail Point Of Sale Market include the increasing adoption of cloud-based POS systems, the growing popularity of self-checkout kiosks, and the integration of artificial intelligence (AI) and machine learning (ML) technologies.
The challenges facing the Retail Point Of Sale Market include the rising cost of hardware and software, the need for ongoing maintenance and support, and the increasing threat of cyberattacks.
The Retail Point Of Sale Market is expected to reach a valuation of USD 92.5 Billion by 2032.
The key opportunities for growth in the Retail Point Of Sale Market include the expansion of emerging markets, the increasing adoption of mobile POS systems, and the growing demand for personalized shopping experiences.
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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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