Discover trends, market shifts, and competitive outlooks for the retail pos terminals industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research

How Fast Is The Retail POS Terminals Market Expected to Grow Between 2025 And 2029?

The size of the retail POS terminals market has seen a swift expansion in the last couple of years. The market will see a rise from $26.67 billion in 2024, reaching $29.88 billion in 2025, escalating at a compound annual growth rate (CAGR) of 12.0%. Factors contributing to this growth in the past period include cost reduction and affordability, improved analytics and reporting, advancements in the retail industry, integration with mobile devices, and the rise of cloud-based solutions.

In the upcoming years, there will be a substantial development in the retail POS terminals market size, which is predicted to reach $47.31 billion in 2029 with a compound annual growth rate (CAGR) of 12.2%. This growth during the projection period can be associated with factors such as improved user experience, integration of e-commerce and in-store, the implementation of subscription-based models, adherence to security standards, and emphasis on data analytics and personalization. Significant upcoming trends during this forecast period will encompass the expansion of mobile pos, services based on subscription, contactless payment options, omnichannel abilities, customization, and flexibility.

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What are the Fundamental Drivers and Innovations Shaping the Retail POS Terminals Market?

The rise in cashless transactions is a significant factor propelling the retail POS terminals market growth. Cashless transactions include any form of payment not involving physical cash, such as credit/debit card payments, cheques, demand drafts, national electronic funds transfers, real-time gross settlements, or any other online payments. Retail shops employ POS terminals to handle these cashless transactions by using software to interpret the magnetic strips on credit and debit cards, as well as process other cashless payments like mobile payments. For example, UK Finance, a British financial services firm, reported in September 2023 that the number of debit card payments had grown substantially in 2022, totaling just in excess of 23 billion transactions, an increase from 19.5 billion in 2021. Thus, the growth in cashless transactions is fuelling the expansion of the retail POS terminals market.

How Is the Retail POS Terminals Market Segmented?

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

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Which Regions Are Driving the Next Phase of the Retail POS Terminals Market Growth?

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

What Key Trends Are Shaping the Future of the Retail POS Terminals Market?

The retail POS terminals market is currently observing a trend of technological advancements. This trend has led major players in the market to focus on refining their POS technology platforms in a bid to maintain a competitive edge. Recently in September 2022, Shift4, a payment processing organization based in the US, launched their next-gen point-of-sale (POS) technology, SkyTab POS. This comes complete with leading-edge devices, robust functionalities, powerful management components, and assorted mobility options. SkyTab, this revolutionary, comprehensive tech platform, enables restaurant owners to handle every facet of their enterprise while delivering superior guest experiences. SkyTab’s android software offers a wealth of features aimed at modernizing and bolstering foodservice operations. Apart from these, it includes built-in marketing tools, a loyalty program, contactless and QR code ordering and payment capabilities, mobile devices for tableside order placement and payment, eGift cards, among other features.

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How Is the Retail POS Terminals Market Defined and What Are Its Core Parameters?

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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