Retail Point of Sale Terminals Market Summary
As per MRFR Analysis, the Retail Point of Sale Terminals Market was valued at 21.52 USD Billion in 2023 and is projected to reach 40 USD Billion by 2035, reflecting a compound annual growth rate (CAGR) of 5.3% from 2025 to 2035. The market is driven by the rising adoption of contactless payment solutions, technological advancements, and the growing e-commerce sector. Key players are innovating to enhance customer experiences and streamline operations, making this market highly competitive.
Key Market Trends & Highlights
The Retail Point of Sale Terminals Market is witnessing transformative trends driven by technology and consumer preferences.
- Cloud-Based Systems segment valued at 8.0 USD Billion in 2024, expected to grow to 15.0 USD Billion by 2035.
- Mobile Wallet transactions projected to reach 3.4 trillion USD by 2024, highlighting the shift towards contactless payments.
- North America market valued at 8.5 USD Billion in 2024, leading in technological adoption.
- E-commerce sales expected to exceed 6 trillion USD by 2024, driving demand for integrated POS systems.
Market Size & Forecast
2023 Market Size: USD 21.52 Billion
2024 Market Size: USD 22.66 Billion
2035 Market Size: USD 40 Billion
CAGR (2025-2035): 5.3%
Largest Regional Market Share in 2024: North America
Major Players
Square, Fiserv, FIS, TouchBistro, Ingenico Group, NCR Corporation, SumUp, Diebold Nixdorf, PAX Technology, Clover Network, Lightspeed, Toast, PayPal Holdings, Verifone, Zebra Technologies
Key Retail Point of Sale Terminals Market Trends Highlighted
The Retail Point of Sale Terminals Market is experiencing significant trends that are reshaping its landscape. One of the key market drivers is the shift towards cashless transactions as consumers increasingly prefer digital payment methods over traditional cash. This trend is fueled by advancements in mobile payment technologies and the growing adoption of contactless payment systems, which enhance the customer experience by providing speed and convenience. Additionally, the rising demand for integrated payment solutions that combine hardware and software functionalities is gaining traction, as retailers seek to streamline operations and improve efficiency at the checkout process.
The growth of e-commerce and omnichannel retailing is two areas of the Retail Point of Sale Terminals Market that could be interesting to look into. As more people shop online, it is becoming clear that POS systems need to work well with online platforms. Retailers can take advantage of this chance by using systems that let them manage sales and inventory in both physical and online stores. This will help them reach a wider range of customers. Also, new developments in data analytics are giving retailers new ways to learn about how customers act and what they like, which lets them create more personalized marketing plans.
Trends in recent times also indicate a growing focus on security features within POS systems. With the increasing threat of data breaches and cyberattacks, the implementation of robust security measures, including end-to-end encryption and compliance with global payment standards, is crucial. Retailers worldwide are prioritizing these security enhancements to protect sensitive customer information, further driving the demand for advanced POS solutions. Collectively, these trends are setting the foundation for the future development of the retail point of sale terminals market on a global scale.
Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review
Retail Point of Sale Terminals Market Drivers
Adoption of Contactless Payments
The increasing preference for contactless payment solutions is rapidly shaping the Retail Point of Sale Terminals Market. According to the World Bank, contactless payment transactions have surged significantly, accounting for over 50% of total card transactions in 2021. Notably, organizations like Visa and Mastercard have reported that they are seeing double-digit growth in contactless payment usage, especially in European markets where digital payment infrastructure is well-established.
This shift towards a cashless society is driving retailers worldwide to upgrade their point of sale terminals, enabling them to cater to consumer demands for efficient, rapid, and safer transactions. Governments across various regions are also encouraging digital payment methods as a way to enhance financial inclusion and streamline tax collection processes, thus further boosting the Retail Point of Sale Terminals Market.
Integration of Advanced Technologies
The incorporation of advanced technologies such as Artificial Intelligence (AI), machine learning, and cloud computing into point of sale systems is redefining the Retail Point of Sale Terminals Market. These technologies facilitate enhanced customer experiences through personalized services and tailored marketing strategies. A recent report from the International Data Corporation indicates that companies investing in AI and machine learning solutions have noted an average of 30% increase in sales through more accurate inventory management and customer insights.
This technological shift is prompting established retail giants like Amazon and Walmart to revamp their point of sale systems to stay competitive, further stimulating market growth.
Growth of E-commerce and Omnichannel Retailing
The exponential growth of e-commerce and the emerging trend of omnichannel retailing are pivotal drivers of the Retail Point of Sale Terminals Market. According to a report from the United Nations Conference on Trade and Development, global e-commerce sales reached approximately 26.7 trillion USD in 2020, signifying a substantial shift in consumer purchasing behavior. Retailers are increasingly adopting omnichannel strategies to provide seamless customer experiences across both online and offline channels.
Organizations like Shopify have developed integrated point of sale solutions that unify in-store and online sales, which enhances operational efficiency and customer satisfaction. The ongoing digital transformation within the retail space thus bolsters the demand for advanced point of sale systems.
Retail Point of Sale Terminals Market Segment Insights:
Retail Point of Sale Terminals Market Technology Insights
The Retail Point of Sale Terminals Market, particularly within the Technology segment, is witnessing substantial growth and evolution. By 2024, the overall market is valued at 22.66 USD Billion and is expected to continue this trajectory, reaching 40.0 USD billion by 2035. A key driving force behind this growth is the increasing demand for efficient and versatile payment solutions in the retail sector. The Technology segment is divided into various solutions, including Cloud-Based Systems, On-Premises Systems, Mobile Point of Sale (mPOS), and Self-Service Kiosks. Among these, Cloud-Based Systems are projected to grow significantly from a valuation of 5.5 USD Billion in 2024 to 10.0 USD Billion in 2035, reflecting a shift towards more flexible, cost-efficient software solutions that aid retailers in managing transactions seamlessly over the internet. This adaptability and ease of integration with other technologies make Cloud-Based Systems a popular choice for retailers aiming to enhance operational efficiency and improve customer satisfaction.
On-Premises Systems hold a remarkable market presence, starting at a valuation of 8.0 USD Billion in 2024 and expected to expand to 14.0 USD Billion by 2035. This growth is primarily driven by brick-and-mortar establishments that prefer traditional systems with direct control over data and security protocols. However, this segment faces competition from the flexibility of cloud solutions. Mobile Point of Sale, with initial valuations of 4.0 USD Billion in 2024 and 7.5 USD Billion by 2035, is also becoming crucial as it allows retailers to conduct transactions anywhere on the sales floor, enhancing the shopping experience and driving sales. This segment is especially significant in sectors like hospitality and retail, where mobility is key to upselling and facilitating customer interactions. Lastly, Self-Service Kiosks are valued at 5.16 USD Billion in 2024, projected to rise to 8.5 USD Billion by 2035, reflecting a trend toward enhanced customer autonomy in the purchasing process. With the growing acceptance of self-service options in retail, these kiosks not only optimize service time but also reduce labor costs, highlighting their importance as retailers seek to adapt to changing consumer preferences.
Overall, trends within the Retail Point of Sale Terminals Market indicate a movement towards more integrated, technology-driven solutions that respond to the evolving landscape of retail. With respective segment valuations reflecting significant opportunities, there is evident market growth potential driven by technological advancements and consumer demand for more efficient transactional processes. The ongoing adoption of these technologies, supported by key factors such as enhanced data security and operational flexibility, ensures that the Retail Point of Sale Terminals Market remains an area of vibrant activity and innovation.
Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review
Retail Point of Sale Terminals Market Component Insights
The Retail Point of Sale Terminals Market is projected to achieve a valuation of 22.66 USD Billion in 2024, with a consistent growth trajectory expected to reach 40.0 USD Billion by 2035. The market segmentation identifies key components such as Hardware, Software, and Services that play a critical role in shaping market dynamics. Hardware remains vital as it encompasses physical devices facilitating transactions, ensuring a seamless customer experience. Software solutions, encompassing payment processing and inventory management systems, are equally significant as they enhance operational efficiency.
Services, including maintenance and technical support, provide essential support to keep systems functioning effectively and cater to evolving customer needs. These components collectively present opportunities driven by trends such as the growing adoption of contactless payments and the rising integration of cloud-based technologies. However, challenges such as cybersecurity threats and the need for continuous innovation pose significant hurdles. The increasing demand for enhanced customer interactions and operational efficiencies continues to propel market growth in the Retail Point of Sale Terminals Market, presenting various opportunities aligned with consumer behavior shifts.
Retail Point of Sale Terminals Market End User Insights
The Retail Point of Sale Terminals Market is seeing significant growth, with a projected overall valuation of USD 22.66 billion in 2024. The market's End User segment comprises various industries, including Retail, Hospitality, Healthcare, and Food and Beverage, each playing a crucial role in driving market dynamics. The Retail sector utilizes point of sale terminals to enhance customer experience through efficient transactions, while the Hospitality industry relies on advanced systems for managing guest services and billing seamlessly. In Healthcare, these terminals facilitate the processing of payments and patient data management, showcasing their importance in improving operational efficiency.
The Food and Beverage sector significantly benefits from point of sale solutions for inventory management and customer interaction, enabling businesses to adapt to consumer behavior swiftly. The integration of technology in these sectors fosters demand, as businesses seek to improve transaction efficiency and enhance customer engagement. As the Retail Point of Sale Terminals Market evolves, the focus on delivering user-friendly and innovative solutions will continue to be pivotal in ensuring growth across all end user categories, supporting a diverse range of applications, and enhancing operational capabilities.
Retail Point of Sale Terminals Market Payment Method Insights
The Retail Point of Sale Terminals Market, valued at 22.66 billion USD in 2024, is significantly shaped by the Payment Method segment, which includes various transaction options such as Credit/Debit Cards, Mobile Wallets, Contactless Payments, and Cash. This segment is crucial as it reflects the evolving consumer preferences towards more convenient and secure payment methods. Credit and debit cards have been dominant in retail transactions, providing consumers with the flexibility to spend and manage their finances. Mobile wallets are gaining traction rapidly, driven by the increase in smartphone penetration and consumer interest in seamless transactions.
Contactless payments are also becoming increasingly popular, offering speed and efficiency, especially in high-traffic retail environments. Although cash remains a traditional method, its usage is declining as digital payments become more prevalent. The market growth is supported by technological advancements and consumer demand for enhanced payment experiences. However, challenges such as cybersecurity concerns and the need for infrastructure upgrades pose obstacles to market expansion. Overall, the diverse Payment Method segment is integral to the dynamics of the Retail Point of Sale Terminals Market, accommodating a wide range of consumer needs and preferences.
Retail Point of Sale Terminals Market Regional Insights
The Retail Point of Sale Terminals Market demonstrates significant regional differentiation in its growth trajectory. North America commands a major share with a projected valuation of 8.8 USD Billion in 2024, escalating to 15.5 USD billion by 2035, showcasing its dominant position due to advanced technological adoption and a robust retail sector. Europe follows closely with a market value of 6.5 USD Billion in 2024, expected to reach 11.5 USD Billion in 2035, bolstered by extensive digital payment integrations. The Asia Pacific region is emerging rapidly, starting at 3.5 USD Billion in 2024 and anticipated to climb to 6.5 USD billion by 2035, driven by increasing smartphone penetration and evolving consumer preferences towards cashless transactions.
South America and the Middle East, and Africa are comparatively smaller markets, valued at 2.0 USD Billion and 2.86 USD Billion in 2024, respectively, yet both regions are expected to grow steadily through rising retail activities. The Regional segmentation highlights variance in market dynamics, with North America and Europe significantly influencing the Retail Point of Sale Terminals Market revenue through advanced payment infrastructures, while Asia Pacific shows potential for increased market growth supported by changing consumer behavior.
Source: Primary Research, Secondary Research, MRFR Database, and Analyst Review
Retail Point of Sale Terminals Market Key Players and Competitive Insights:
The Retail Point of Sale Terminals Market has experienced significant growth and transformation as businesses increasingly embrace digital transactions and seek to enhance customer experiences. Competitive insights in this market highlight the diverse key players that are dominating the landscape, each contributing unique technological advancements and services aimed at improving payment efficiency and security. With the rise of e-commerce and the growing demand for contactless payment solutions, companies are investing in innovative technologies and strategic partnerships to capture a larger market share. The competitive environment is driven by continuous development in software functionalities, integration capabilities, and compliance with evolving regulations, resulting in a dynamic marketplace that adapts to consumer preferences and technological progress.
Bluefin Payment Systems has established a robust presence in the Retail Point of Sale Terminals Market by focusing on providing secure payment solutions. The company prides itself on its unique offerings in encryption and tokenization technologies, which are geared towards protecting sensitive customer data. With a commitment to innovation, Bluefin has positioned itself as a leader in the cybersecurity realm within the payment processing sector. Its strengths lie in its sophisticated systems that ensure seamless integration with existing retail environments, enabling merchants to accept various payment types efficiently. The brand's emphasis on security not only bolsters its reputation but also appeals to a broad spectrum of businesses seeking trustworthy alternatives in an increasingly digital landscape.
Newland Payment Technology has broadened its footprint in the Retail Point of Sale Terminals Market, delivering cutting-edge payment solutions that cater to diverse retail needs. The company is recognized for its extensive range of products, including handheld and countertop POS terminals, which combine user-friendly interfaces with advanced processing capabilities. Newland's strengths are reflected in its commitment to innovation and customer satisfaction, ensuring that its solutions remain relevant in a rapidly evolving market. The company's strategic focus on forging partnerships has facilitated its growth and enabled it to remain competitive. Additionally, Newland actively engages in mergers and acquisitions to enhance its product offerings and market reach, focusing on integrating technologies that improve payment processing efficiency and customer engagement globally. With a solid market presence, Newland continues to cater to its clients with tailored solutions that support their unique operational needs while leveraging its technological expertise to drive growth in the retail sector.
Key Companies in the Retail Point of Sale Terminals Market Include:
Retail Point of Sale Terminals Market Developments
Recent changes in the Global Retail Point of Sale (POS) Terminals Market have shown a lot of growth and new ideas, mostly because more people are using contactless payment methods and payment technologies are getting better. Ingenico Group and Verifone are two companies that have made big improvements to their products to better serve retail customers.
In September 2023, Fiserv (formerly First Data Corporation) announced upgrades to its Clover POS systems. These upgrades included new security features to help protect against fraud in retail transactions, which is becoming more and more important. In August 2023, Square also added new features to its hardware that were designed for small to medium-sized businesses.
In July 2023, NCR Corporation started NCR Voyix, a separate division that focuses on retail analytics and digital transformation. This was done to improve the company's position in the market.
The market value has grown a lot, with estimates showing that it has grown at a compound annual growth rate (CAGR) of more than 10% in recent years. This is mostly because more people are doing business online. The push for omnichannel retailing and easier payment processes has changed the way businesses work over the past two years. Companies like PAX Technology and Clover Network have put a lot of money into new ideas to make shopping better for customers on both physical and digital platforms.
Retail Point Of Sale Terminals Market Segmentation Insights
-
Retail Point of Sale Terminals Market Technology Outlook
-
Cloud-Based Systems
-
On-Premises Systems
-
Mobile Point of Sale
-
Self-Service Kiosks
-
Retail Point of Sale Terminals Market Component Outlook
-
Hardware
-
Software
-
Services
-
Retail Point of Sale Terminals Market End User Outlook
-
Retail
-
Hospitality
-
Healthcare
-
FoodBeverage
-
Retail Point of Sale Terminals Market Payment Method Outlook
-
Credit/Debit Card
-
Mobile Wallet
-
Contactless Payment
-
Cash
-
Retail Point of Sale Terminals Market Regional Outlook
-
North America
-
Europe
-
South America
-
Asia Pacific
-
Middle East and Africa
|
Report Attribute/Metric
|
Details
|
|
Market Size 2023
|
21.52 (USD Billion)
|
|
Market Size 2024
|
22.66 (USD Billion)
|
|
Market Size 2035
|
40.0 (USD Billion)
|
|
Compound Annual Growth Rate (CAGR)
|
5.3% (2025 - 2035)
|
|
Report Coverage
|
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
|
|
Base Year
|
2024
|
|
Market Forecast Period
|
2025 - 2035
|
|
Historical Data
|
2019 - 2024
|
|
Market Forecast Units
|
USD Billion
|
|
Key Companies Profiled
|
Bluefin Payment Systems, Newland Payment Technology, Cayan, Destiny Technologies, First Data Corporation, Ingenico Group, NCR Corporation, Total Merchant Services, Ingenico, Diebold Nixdorf, Square, Verifone, PAX Technology, Clover Network, Epson
|
|
Segments Covered
|
Technology, Component, End User, Payment Method, Regional
|
|
Key Market Opportunities
|
Mobile payment integration, Cloud-based solutions growth, Emerging markets expansion, AI-driven analytics adoption, Contactless payment preference
|
|
Key Market Dynamics
|
Growing e-commerce sales, increasing mobile payments, demand for contactless transactions, technological advancements, and integration with cloud solutions
|
|
Countries Covered
|
North America, Europe, APAC, South America, MEA
|
Retail Point of Sale Terminals Market Highlights:
Frequently Asked Questions (FAQ) :
The Retail Point of Sale Terminals Market is expected to be valued at 40.0 USD billion by the year 2035.
In 2024, the Retail Point of Sale Terminals Market was valued at 22.66 USD billion.
The expected CAGR for the Retail Point of Sale Terminals Market from 2025 to 2035 is 5.3%.
North America is projected to have the highest market value, estimated at 15.5 USD Billion in 2035.
The market size for Cloud-Based Systems is expected to reach 10.0 USD billion by 2035.
Major players in the market include Ingenico Group, NCR Corporation, and Verifone, among others.
The market size for Self-Service Kiosks is projected to be 5.16 USD billion in 2024.
On-Premises Systems are expected to reach a market value of 14.0 USD billion by 2035.
The Asia Pacific region is anticipated to grow to a market value of 6.5 USD billion by 2035.
The market size for Mobile Point of Sale is projected to be 7.5 USD billion by the year 2035.
