What are the latest figures on the point of sale system requirement market’s size and projected CAGR?
The point of sale system requirement market size has grown rapidly in recent years. It will grow from $14.5 billion in 2024 to $16.64 billion in 2025 at a compound annual growth rate (CAGR) of 14.8%. The growth in the historic period can be attributed to the widespread adoption of electronic payment methods, the rise of e-commerce, changes in tax laws, the demand for data-driven decision-making, and the increasing threat of data breaches.
The point of sale system requirement market size is expected to see rapid growth in the next few years. It will grow to $28.52 billion in 2029 at a compound annual growth rate (CAGR) of 14.4%. The growth in the forecast period can be attributed to regulatory and compliance requirements, the need for systems that provide a seamless experience, increasing demand from SMEs, rising demand for cloud-based solutions, and growing demand for mobile POS systems. Major trends in the forecast period include the development and commercialization of personal computers, improved data analytics, the integration of AI for inventory management, technological advancements, and integration with the IoT.
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Which major factors have contributed to the expansion of the point of sale system requirement market?
The growing adoption of digital payment methods is expected to propel the growth of the point-of-sale system requirement market going forward. A digital payment is a transaction where money is transferred electronically between two parties using digital systems, such as online banking or mobile wallets. The growing adoption of digital payment methods is driven by their convenience, speed, and enhanced security, along with increasing smartphone usage and internet accessibility. Digital payment methods in point-of-sale systems require integration with secure payment gateways, support for various card and mobile wallet transactions, and compliance with industry standards such as the payment card industry data security standard (PCI DSS) to ensure data security and seamless transaction processing. For instance, in May 2024, according to FedPayments Improvement, a US-based product of Federal Reserve Banks, in 2023, digital wallets and mobile apps were adopted by 62% of businesses, a notable increase from 47% in 2022. This growth surpassed that of ACH and debit cards, solidifying digital wallets as the second-most utilized payment method, closely trailing paper checks. Therefore, the growing adoption of digital payment methods is driving the growth of the point-of-sale system requirements market.
How is the point of sale system requirement market segmented?
The point of sale system requirement market covered in this report is segmented –
1) By Deployment Mode: Cloud, On-Premise
2) By Organization Size: Large Enterprise, Small And Medium Enterprise (SME)
3) By Application: Fixed Point Of Sale (POS), Mobile Point Of Sale (POS)
4) By End User: Restaurants, Hospitality, Healthcare, Retail, Warehouse, Entertainment, Other End Users
Subsegments:
1) By Cloud: Software As a Service (SaaS), Platform As a Service (PaaS), Cloud-Based Hybrid Solutions
2) By On-Premise: On-Premise Software Solutions, On-Premise Hardware And Software Integrated Systems
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Who are the top competitors in the point of sale system requirement market?
Major companies operating in the point of sale system requirement market are Samsung Electronics Co. Ltd, The Hewlett-Packard Company, Panasonic Corporation, Oracle Corporation, Casio Computer Co. Ltd, Fujitsu Ltd, PayPal Holdings Inc., NEC Corporation, Block Inc, NCR Corporation, Shopify Inc., Toast Inc., Ingenico SA, PAX Technology, Lightspeed POS Inc, Toshiba Global Commerce Solutions, Verifone Inc., Clover Network Inc., GK Software SE, NEXGO (Shenzhen Xinguodu Technology Co. Ltd.), Helcim Inc., Newland Payment Technology, Bindo Labs Inc., Qashier PTE Ltd
Which key trends are expected to influence the point of sale system requirement market in the coming years?
Major companies operating in the point-of-sale system requirement market are focusing on developing technologically advanced solutions, such as digital onboarding platform. A digital onboarding platform is a technology solution that enables businesses to verify, register, and onboard customers or employees electronically. It benefits the point-of-sale (POS) system by streamlining user verification, reducing onboarding time, and enhancing customer experience, which is essential for faster and more secure transactions. For instance, in May 2023, Axis Bank, an India-based banking company, launched Sarathi, a digital onboarding platform designed to simplify the adoption of Electronic Data Capture (EDC) or Point of Sale (PoS) terminals for merchants. The platform offers a streamlined onboarding process, real-time database checks, live video verification, quick decision-making, instant PoS installation, and a paperless experience. Benefits include immediate status updates, same-day transaction capability, and quick installation of PoS terminals within 45 minutes. Sarathi aims to create digital differentiators for merchants and improve sales team productivity.
Which regional trends are influencing the point of sale system requirement market, and which area dominates the industry?
North America was the largest region in the point of sale system requirement market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the point of sale system requirement market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Point Of Sale System Requirement Market Report 2025 Offer?
The point of sale system requirement market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
A point of sale requirement (POS) system refers to a solution that enables seamless sales transactions by managing inventory, processing payments, and generating sales reports. It includes tools to enhance customer relationships, such as loyalty programs, point-based rewards, marketing tools, promotions and discounts, customer profiling, and insightful analytics.
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