How Will the Point Of Sale (POS) Software Market Grow? Key Trends and Opportunities for 2025 and Beyond
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What key factors are powering the surge in the point of sale (pos) software market right now?
In recent years, the market size of the point of sale (POS) software has experienced a rapid expansion. Estimates project an increase from $13.09 billion in 2024 to $14.54 billion in 2025, marking a compound annual growth rate (CAGR) of 11.1%. The impressive growth during the historic period is a result of factors such as the early adoption of smartphones, limited availability of traditional POS systems, the advent of cloud-based solutions, initial government efforts promoting cashless transactions, and the development of app stores and mobile payment apps.
How fast Is the point of sale (pos) software market expected to grow, and what’s its future value?
The POS (point of sale) software market is predicted to surge in size in the coming years, with expectations of it reaching $22 billion by 2029, growing at a compounded annual growth rate (CAGR) of 10.9%. Factors contributing to this positive forecast include the increasing interest in biometric verification, commitment to sustainability, the introduction of blockchain technology, and the growing traction of on-demand delivery services. Noteworthy developments anticipated during this forecast period encompass AI-driven personalization, the merger with social commerce, the incorporation of augmented reality (AR), the emergence of voice-based payments, and an emphasis on improving the employee experience.
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What are the leading drivers of growth in the point of sale (pos) software market?
The anticipated expansion of the retail and e-commerce industries is predicted to fuel the growth of the point of sale (POS) software market. This refers to businesses that provide goods and services directly to consumers, either through physical shops or digital platforms, enabling transactions and distribution of products. The rapid growth in retail and e-commerce is a result of the expansion of digital marketplaces, alterations in consumer behavior, and the digital transformation. The pivotal role of point-of-sale (POS) software in elevating customer satisfaction, streamlining operations, and stimulating growth in these sectors cannot be overlooked. For example, the United States Census Bureau, a government agency in the U.S, reported that total retail sales for 2023 saw a rise of 2.1% compared to the preceding year, as of February 2024. Similarly, the International Trade Administration, a department in the United States Department of Commerce, predicts that e-commerce sales in Canada will skyrocket to $40.3 billion by 2025, a significant increase from $2.34 billion in March 2022. As a result, the growing retail and e-commerce segments are creating a surge in demand for POS software.
What are the key segments defining the point of sale (pos) software market?
The point of sale (POS) software market covered in this report is segmented –
1) By Component: Software, Services
2) By Deployment: On-Cloud, On-Premises
3) By Application: Inventory Tracking, Sales Reporting, Purchasing Management, Customer Engagement
4) By End-User: Retail, Healthcare, Government Sector, Media And Entertainment, Warehouses, Hospitality, Other End-Users
Subsegments:
1) By Software: Transaction Management Software, Inventory Management Software, Customer Relationship Management (CRM) Software, Sales Reporting And Analytics Software, Payment Processing Software, Cloud-Based POS Software, Mobile POS Software (mPOS), Multi-Channel POS Software, E-Commerce Integration Software
2) By Services: Consulting And System Design Services, Installation And Integration Services, Training Services, Maintenance And Support Services, Customization Services, Managed Services
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Who are the key players steering the development of the point of sale (pos) software market?
Major companies operating in the point of sale (POS) software market are Samsung Electronics Co. Ltd., Panasonic Corporation, Oracle Corporation, SAP SE, Fujitsu Ltd., Toshiba Corporation, NEC Corporation, Mastercard Inc., Fiserv Inc., Block Inc., NCR Corporation, Shopify LLC, Diebold Nixdorf Inc., Toast Inc., Epicor Software Corporation, Ingenico SA, Clover Network Inc., Lightspeed Commerce, VeriFone Inc., VeriFone System Inc., Aptos LLC, PAX Technology, GK Software SE, Revel Systems, Blaze Solutions Inc., Qashier PTE Ltd., Ideal POS Ltd.
What are the key trends shaping the future of the point of sale (pos) software market?
Leading businesses in the POS (Point of Sale) software market, such as NCR Voyix Corporation, are innovating by creating cloud-based systems like NCR Aloha Cloud. This is designed to supply consumers with superior, cutting-edge features. Providing a modern and convenient user experience, the NCR Aloha Cloud is geared towards assisting operators in managing their restaurants efficiently. In May 2022, for instance, the US-based software development firm, NCR Voyix Corporation, unveiled NCR Aloha Cloud, a state-of-the-art cloud-based POS system specially crafted for restaurants. This system boasts features like next-day deposit financing, compact portable devices, simple payment processing, and an innovative user interface. It also offers robust data and analytics capabilities, delivering crucial insights for astute decision-making. The Aloha Cloud system differentiates itself as a comprehensive solution, offering secure payment processing, an offline mode, native loyalty programs, email marketing, and round-the-clock support, thereby addressing the needs of the restaurant industry in an effective and streamlined manner.
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Which regions are most influential in expanding the point of sale (pos) software market?
North America was the largest region in the point of sale (POS) software market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the point of sale (POS) software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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