Retail Point of Sale Market Scope
A Retail Point of Sale system is a software and hardware combination that helps businesses manage sales, inventory, and customer data at the point of purchase. It typically includes a cash register, barcode scanner, receipt printer, and payment terminal. These systems empower retail staff to deliver memorable service levels and build customer loyalty in an omnichannel world. A cashier machine will only record the sales and inventory portion. Rising demand for process automation and cloud-based terminals for inventory and stock management in retails and logistics. Increasing government initiative towards digital payment systems is growing retail Point of Sale service. Further the increasing self-check-out services can develop the market of Retail Point of Sale. The Retail POS market holds immense potential for future growth. Retailers who embrace new technologies and address the challenges effectively will be well-positioned to capitalize on this growing market.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Ingenico Group (Netherlands), NCR Corporation (United States), Toshiba Global Commerce Solutions (Japan), Square, Inc. (United States), AURES Technologies SA (France), VeriFone Systems Inc. (United States), Cegid (France), Samsung Electronics Co. Ltd. (South Korea), VeriFone Systems Inc. (United States) and Shopify Inc. (Canada) |
CAGR | 12.95% |
"According to AMA, the Global Retail Point of Sale market is expected to see growth rate of 12.95% and may see market size of USD34400.0 Million by 2028."The competitive landscape of the retail POS market is constantly evolving, and new players are emerging all the time. Retailers should carefully consider their needs and requirements when choosing a POS system and should be sure to choose a system that can grow with their business. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Retail Point of Sale market throughout the predicted period.
Ingenico Group (Netherlands), NCR Corporation (United States), Toshiba Global Commerce Solutions (Japan), Square, Inc. (United States), AURES Technologies SA (France), VeriFone Systems Inc. (United States), Cegid (France), Samsung Electronics Co. Ltd. (South Korea), VeriFone Systems Inc. (United States) and Shopify Inc. (Canada) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Clover (United States), Cegid Group (France), NCR GmbH (Germany), Revel Systems (Georgia), PAX Technology Inc. (China) and Fiserv (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Retail Point of Sale market by Type , by Application (Department Stores, Hypermarkets/Supermarkets, Warehouse, Convenience Stores, Discount Stores, Specialty Stores and Others) and Region with country level break-up.
On the basis of geography, the market of Retail Point of Sale has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In August 2023, Fiserv and Clover announced a partnership to offer Clover's cloud-based POS system to Fiserv's large network of financial institutions. This partnership will provide small businesses with access to a comprehensive suite of POS and financial services.
In June 2023, Revel Systems launched its POS 7.0 software the update includes new features such as self-service kiosks, table management, and delivery ordering, making it ideal for restaurants and hospitality businesses.
Influencing Trend:
Artificial Intelligence (AI) and Automation LIKE Fraud Detection and inventory management.
Market Growth Drivers:
Rising Demand of Cashless Transaction and Growing demand of data and analytics
Challenges:
Risk of malware and ransomware attacks
Restraints:
Data Security Concern
Opportunities:
Improved Data Accessibility and Develop innovative new POS features such as manage inventory, track customer data, and run targeted marketing campaigns.
Key Target Audience
Retail Business Owner, Technology Consultant, Payment Processing Companies, Potential Investors, Government Agencies and Others