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What Are the Projected Expansion Rates of the Retail POS Terminals Market for the Next Decade?

The market size of retail POS terminals has seen a swift rise in the last few years. Predictions show an increase from $26.67 billion in 2024 to a substantial $29.88 billion in 2025 at a Compound Annual Growth Rate (CAGR) of 12.0%. Factors contributing to the surge during the historic period include affordability and cost-cutting measures, improved analysis and reporting, progressive changes in the retail industry, introduction of mobile device integration, and the rise of cloud-based solutions.

In the coming years, the market size of retail POS terminals is projected to experience a swift expansion. The market value is predicted to reach $47.31 billion by 2029, with a compound annual growth rate (CAGR) of 12.2%. Several factors such as improved user interface, integration of e-commerce and in-store systems, uptake of subscription-oriented models, adherence to security norms, utilization of data analysis, and personalized services can account for this anticipated growth. Significant trends during the forecast period include an expansion of mobile POS services, subscription-oriented services, touchless transaction options, wide-ranging capabilities, flexibility, and customization options.

Which Drivers Are Expected to Have the Greatest Impact on the retail pos terminals Market’s Growth?

The retail POS terminals market is experiencing growth due to a notable increase in cashless payments. Cashless payments involve transactions that do not use physical money, such as those made by credit/debit cards, cheques, demand drafts, national electronic funds transfer, real-time gross settlement, or various online payment methods. Retail stores use POS terminals to handle these cashless transactions, including the processing of credit or debit card payments using software that reads the magnetic strips on the cards, and enabling other types of cashless transactions like mobile payments. This rise in cashless transactions was highlighted in a September 2023 report by UK Finance, a financial services company based in the UK, which noted that from 2021 to 2022, the number of debit card payments dramatically increased, going from 19.5 billion transactions to just over 23 billion. This growth in cashless payments is fuelling the expansion of the retail POS terminals market.

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Which Companies Are Redefining the Future of the Retail POS Terminals Market?

Major companies operating in the retail pos terminals market include:

• Epicor Software Corporation_x000D_

• Ingenico Group_x000D_

• NCR Corporation_x000D_

• Panasonic Corporation_x000D_

• PAX Technology Inc._x000D_

What Trends Are Poised to Drive the Future Success of the Retail POS Terminals Market?

The main trend that’s making waves in the retail POS terminals market is technological innovation. Companies in this market are shifting their attention to creating state-of-the-art POS technologies to establish competitive superiority. For example, Shift4, a payment processing company based in the United States, unveiled the SkyTab POS in September 2022. This next-gen POS technology features top-notch equipment, powerful functionalities, effective management tools, and diverse mobile solutions. Thanks to this cutting-edge, all-inclusive technological platform, restaurateurs can manage every aspect of their business and deliver extraordinary guest experiences. Furthermore, the SkyTab software crafted for Android incorporates numerous features designed to modernize and uplift food service operations. Besides, it includes built-in promotional tools, a customer loyalty scheme, contactless and QR code-based order placement and payment, mobile devices for ordering and paying at the table, eGift cards, among other things.

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Which Primary Segments of the Retail POS Terminals Market Are Driving Growth and Industry Transformations?

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

What Are the Leading Regions in the Retail POS Terminals Market Expansion?

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

How Can We Define the Retail POS Terminals Market and Its Key Components?

Retail POS terminals refer to the hardware and software that accepts credit cards at retail outlets to make sales, accept payments, and check out customers. These terminals enable merchants to accept various payment methods, including credit and debit cards, while providing additional functionalities such as inventory management, sales reporting, and customer relationship management.

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