Global Retail Point of Sale Terminal Market to Reach USD 57,750.89 Million by 2031 | CAGR of 5.7%
Category : IT And Telecommunications | Published Date : Nov 2024 | Type : Press Release
Retail Point of Sale Terminal Market Scope & Overview:
As per the Consegic Business Intelligence newly published report, the Retail Point of Sale Terminal Market was valued at USD 37,100.38 Million in 2023 and is projected to reach USD 57,750.89 Million by 2031, growing at a CAGR of 5.7% from 2024 to 2031. A retail point-of-sale terminal (POS) is a system for processing transactions, inventory management, and customer data analysis in retail environments. These systems comprise hardware and software that streamline sales processes, enhance customer experience, and support cashless transactions through credit/debit cards, contactless payments, and mobile wallets.
The report comprises the Retail Point of Sale Terminal Market Share, Size & Industry Analysis, By Product (Fixed, Mobile), Component (Software, Hardware), Application (Supermarkets, Warehouses, Specialty Stores, Others), and Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa), and Forecast, 2024-2031.
The report contains detailed information on Retail Point of Sale Terminal Market Trends, Opportunities, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraints or Challenges, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
Growing demand for a cashless economy and efficient inventory management solutions are significant market drivers. Additionally, advancements in AI-powered POS systems present new growth opportunities.
Segmental Analysis :
Based on product, the market is segmented into fixed and mobile.
- Fixed POS held the largest market share in 2023 due to its robust hardware and use in high-traffic retail environments like grocery and electronics stores.
- Mobile POS is projected to register the fastest CAGR, driven by flexibility and adoption in small to medium-sized businesses that benefit from mobility.
Based on components, the market includes software and hardware.
- Hardware accounted for the largest revenue share in 2023, with physical devices like monitors, cash drawers, and receipt printers playing essential roles in transaction processing and customer engagement.
- Software is anticipated to grow at the fastest CAGR due to its role in real-time data analysis, inventory control, and integration with e-commerce.
Based on application, the market includes supermarkets, warehouses, specialty stores, and others.
- Supermarkets dominated the market in 2023, with POS terminals used to streamline checkout processes and manage customer data efficiently.
- Warehouses are expected to grow at the highest CAGR due to the rising need for bulk order processing and inventory management in retail chains.
Based on regions, the global market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
- Asia-Pacific led the market in 2023, driven by retail expansion and digital payment adoption in China and India.
- North America is anticipated to grow at a notable CAGR, with innovations in POS technology and increased e-commerce integration.
| Report Attributes | Report Details |
| Study Timeline | 2017-2031 |
| Market Size in 2031 | USD 57,750.89 Million |
| CAGR (2024-2031) | 5.7% |
| By Product | Fixed, Mobile |
| By Component | Software, Hardware |
| By Application | Supermarkets, Warehouses, Specialty Stores, Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. This report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Retail Point of Sale Terminal Industry:
- Diebold Nixdorf (US)
- Epicor Software Corporation (US)
- NCR Corporation (US)
- NEC Corporation (Japan)
- Panasonic Corporation (Japan)
- Ingenico Group (France)
- PAX Technology (China)
- Samsung Electronics Co. Ltd (South Korea)
- Square, Inc. (US)
- VeriFone Systems, Inc. (US)
Recent Industry Developments :
- In April 2024, Shopify launched its POS terminal Countertop Kit with features like customizable branding, compatibility with iOS and Android, and integration with Shopify Payments.
- In May 2023, Zoho implemented ERP software for BigBasket, optimizing inventory and reducing task times by 50%, influencing POS systems for real-time inventory tracking.
