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Point of Sale Market

Point of Sale Market Size, Share & Segmentation by Application (Fixed POS and Mobile POS), by Deployment Mode (Cloud and On-premise), by Organization Size (Large Enterprise and Small and Medium Enterprise (SME)), by End-user (Restaurant, Hospitality, Healthcare, Retail, Warehouse, Entertainment, Others) , by Regions and Global Market Forecast 2022-2028

Report Id: SNS/ICT/1582 | June 2022 | Region: Global | 125 Pages

Report Scope & Overview:

The Point-of-Sale (POS) market size was valued at USD11.14 Bn in 2021 and is expected to reach USD 20.28 Bn by 2028, and grow at a CAGR of 8.9% over the forecast period 2022-2028.

A point of sale (POS) is a digital electronic device that uses software and hardware to allow retailers to accept card payments without having to use their cash registers to scan cards directly. Electronic devices used for processing card payments, inventory management, printing invoices, and establishing loyalty programs in restaurants, hotels, healthcare, retail, warehouse/distribution, and entertainment are known as POS terminals. The cost of implementing POS terminals varies depending on the size of the company and the terms supplied by the vendors.

Point of Sale Market

Customers may not have to pay an additional cost to use the POS terminal service, and small stores or merchants may not have to pay rent to operate the POS terminals. To put it another way, point of sale is a wide term that refers to displays and equipment used to conduct online transactions using computers, barcode scanners, and cash registers. Users may use the software to keep track of consumer orders, credit and debit cards, and links to other systems. Continuous technical improvements have led to advancements in these systems, such as mobile POS with bar code scanners and cloud-based POS, which have increased business productivity by giving significant Returns on Investments (ROI).

Ripple, the pioneer in corporate blockchain and crypto solutions, announced a collaboration with Lunu in June 2022 to enable the Berlin-based company's luxury stores to accept bitcoin as a means of payment in store and online using Ripple's Liquidity Hub. Lunu's point of sale (POS) terminal and web widget allow high-end and luxury shops in the UK and Europe to take crypto payments in-store. Farfetch, Off-White, Browns, and Steven Stone are among Lunu's current clients. Lunu's clients will be able to speed up the acceptance of crypto payments by optimizing the exchange of crypto assets to fiat in one location at competitive costs, thanks to Liquidity Hub.

MARKET DYNAMICS:

KEY DRIVERS:

  • POS systems aid in increasing productivity, which has a beneficial influence on sales volume.

  • The systems' simplicity of use combined with enhanced efficiency.

RESTRAINTS:

  • Data leaks have resulted in privacy concerns and concerts.

  • The information given and printed on the cards has been abused.

  • The target audience's lack of understanding.

OPPORTUNITY:

  • The creation of software that serves a wide range of industries while also providing analytical capabilities for monitoring data collected during everyday company activities.

IMPACT OF COVID-19:

During the ongoing COVID-19 (coronavirus) epidemic, touchless payments have become essential. Companies in the point-of-sale (POS) industry are capitalizing on incremental possibilities by extending the availability of POS devices, as the trend of digital payments continues to grow in India. There is a rising understanding of the importance of cleaning point-of-sales on a frequent basis to prevent the transmission of coronavirus. Retailers are implementing NFC (Near Field Communication)–enabled POS systems to take smaller-value payments with minimal physical interaction.

The overall number of point-of-sales installed by merchant acquiring banks has surpassed several million. Manufacturers of point-of-sale (POS) devices are taking advantage of this trend by including novel payment choices in their equipment.

MARKET ESTIMATION:

Both mobile and stationary POS terminals can benefit from POS software. Due to rising choices among FSRs and QSRs, the fixed category accounted for the biggest revenue share in 2021. Fixed systems are more secure in terms of data privacy, making them a favored choice among many end-users. Over the projection period, the mobile POS category is expected to grow at the quickest rate. Wireless technology has changed the way people pay and how businesses operate. The POS software installed on tablets or smartphones allows for speedy payment via applications without the need to connect the system to a local network. In addition, utilizing a card reader linked to a tablet or smartphone as a payment option necessitates the use of supporting apps to operate the scanner and complete the invoicing process. The segment's expansion has been fueled by the simplicity of payment.

Because of the data protection and more control given by this deployment strategy, on-premise POS software deployment accounted for the biggest revenue share in 2021. The requirement for distinct front-end and back-end solutions to limit access to important financial and business information contributed to the strong demand for on-premise POS software implementation. From 2022 to 2028, the cloud deployment POS software is predicted to grow at the fastest rate. This rise can be attributed to increasing demand due to low-cost cloud deployment, which allows for quick adaptation to changing corporate landscapes.

In 2020, the big enterprise sector led the market, accounting for almost 58 percent of total sales. The strong demand for customized POS software across large-scale retail businesses, restaurants, and entertainment industries that need a system to manage their cash flows and company operations is responsible for the segment's rise. The solution is tailored depending on company kind and function, and it is expensive compared to easily accessible software because major firms must simplify various outlets' operations and daily sales data. Over the projection period, the SME category is predicted to increase at the fastest CAGR. The rapid adoption of cloud-deployed mobile POS software solutions by SMEs because of their affordability and scalability, as well as the necessity to boost business amid the COVID-19 epidemic, is cited for the increase.

In 2021, the retail segment emerged as the most profitable end-user category, accounting for over half of all sales. The enormous retail industry comprises apparel, accessories, groceries, packaged goods, electronics, and much more, all of which necessitate the use of point-of-sale software due to the nature of the business. The retail business has increasingly moved away from traditional brick-and-mortar establishments and toward multi-channel (social media) and e-commerce selling. Over the projection period, product demand in the restaurant category is expected to increase considerably. It's yet another profitable market that POS suppliers are pursuing. The online meal delivery system has grown in popularity among the younger generation, necessitating additional capabilities in restaurant POS software to track food delivery and accept new orders and payments.

KEY MARKET SEGMENTS:

On The Basis of Application

  • Fixed POS

  • Mobile POS

On The Basis of Deployment Mode

  • Cloud

  • On-premise

On The Basis of Organization Size

  • Large Enterprise

  • Small and Medium Enterprise (SME)

On The Basis of End-user

  • Restaurant

  • Hospitality

  • Healthcare

  • Retail

  • Warehouse

  • Entertainment

  • Others

Point-of-Sale Market

REGIONAL ANALYSIS:

The market is divided into major regions because to the worldwide diversification of the point-of-sale terminal market and the global dispersion of the target audience. During the projection period of 2022-2028, the North American market is expected to have outstanding growth possibilities, assisting the industry in becoming the highest point of sale terminal market size. The point-of-sale terminal market is home to the payment industry's rising modernization as well as a wide range of business-specific solutions.

Another factor that will help the market gain traction in the worldwide competition is that wireless PoS terminals have been widely used and implemented across a wide variety of industries, including hospitality, medical, and healthcare, as well as retail and entertainment. EMV is one of the compliance criteria that affect increased payment security and will contribute to the market's growth during the projected period of 2022-2028.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

KEY PLAYERS:

The major key players are Clover Network, Inc., H&L POS, IdealPOS, Lightspeed, NCR Corporation, Oracle Micros, Revel Systems, SwiftPOS, Square Inc., TouchBistro

Point-of-Sale Market Report Scope:
Report Attributes Details
Market Size in 2021  US$ 11.14 Bn
Market Size by 2028  US$ 20.28 Bn
CAGR   CAGR of 8.9% From 2022 to 2028
Base Year 2021
Forecast Period  2022-2028
Historical Data  2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • by Application (Fixed POS and Mobile POS)
• by Deployment Mode (Cloud and On-premise)
• by Organization Size (Large Enterprise and Small and Medium Enterprise (SME))
• by End-user (Restaurant, Hospitality, Healthcare, Retail, Warehouse, Entertainment, Others)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Clover Network, Inc., H&L POS, IdealPOS, Lightspeed, NCR Corporation, Oracle Micros, Revel Systems, SwiftPOS, Square Inc., TouchBistro
Key Drivers • POS systems aid in increasing productivity, which has a beneficial influence on sales volume
• The systems' simplicity of use combined with enhanced efficiency
Market Opportunities • The creation of software that serves a wide range of industries while also providing analytical capabilities for monitoring data collected during everyday company activities

 


Frequently Asked Questions (FAQ) :

Ans: - The current market size of the Point-of-Sale market is USD11.14 Bn in 2021.

Ans: - POS systems aid in increasing productivity, which has a beneficial influence on sales volume and the systems' simplicity of use combined with enhanced efficiency.

Ans: - The segments covered in the Point-of-Sale Market report for study are on the basis of Application, Deployment Mode, Organization Size and End-user

Ans: - The primary growth tactics of Point-of-Sale market participants include merger and acquisition, business expansion, and product launch.

Ans: - The study includes a comprehensive analysis of Speech-to-text API Market trends, as well as present and future market forecasts. DROC analysis, as well as impact analysis for the projected period. Porter's five forces analysis aids in the study of buyer and supplier potential as well as the competitive landscape etc.


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of the Ukraine- Russia war

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7. PEST Analysis

 

8. Point of Sale Market Segmentation, by Application

8.1 Fixed POS

8.2 Mobile POS

 

9. Point of Sale Market Segmentation, by Deployment Mode

9.1 Cloud

9.2 On-premise

 

10. Point of Sale Market Segmentation, by Organization Size

10.1 Large Enterprise

10.2 Small and Medium Enterprise (SME)

 

11. Point of Sale Market Segmentation, by End-user

11.1 Restaurant

11.2 Hospitality

11.3 Healthcare

11.4 Retail

11.5 Warehouse

11.6 Entertainment

11.7 Others

 

12. Regional Analysis

12.1 Introduction

12.2 North America

12.2.1 USA

12.2.2 Canada

12.2.3 Mexico

12.3 Europe

12.3.1 Germany

12.3.2 UK

12.3.3 France

12.3.4 Italy

12.3.5 Spain

12.3.6 The Netherlands

12.3.7 Rest of Europe

12.4 Asia-Pacific

12.4.1 Japan

12.4.2 South Korea

12.4.3 China

12.4.4 India

12.4.5 Australia

12.4.6 Rest of Asia-Pacific

12.5 The Middle East & Africa

12.5.1 Israel

12.5.2 UAE

12.5.3 South Africa

12.5.4 Rest

12.6 Latin America

12.6.1 Brazil

12.6.2 Argentina

12.6.3 Rest of Latin America

 

13. Company Profiles

13.1 Clover Network, Inc.

13.1.1 Financial

13.1.2 Products/ Services Offered

13.1.3 SWOT Analysis

13.1.4 The SNS view

13.2. H&L POS

13.3 IdealPOS

13.4 Lightspeed

13.5 NCR Corporation

13.6 Oracle Micros

13.7 Revel Systems

13.8 SwiftPOS

13.9 Square Inc.

13.10 TouchBistro

 

14. Competitive Landscape

14.1 Competitive Benchmarking

14.2 Market Share Analysis

14.3 Recent Developments

 

15. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of a good and accurate research report and selecting the best methodology to complete the research is the toughest part. Since the research reports, we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach a stage wherein we can provide our clients best and most accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research as the name suggests is a research process wherein, we collect data through readily available information. In this process, we use various paid and unpaid databases to which our team has access and gather data through the same. This includes examining listed companies’ annual reports, Journals, SEC filling, etc. Apart from this, our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various universities as well as individual libraries.

Secondary Research

Step 2: Primary Research

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