The global Point Of Sale Software market size is expected to be worth around US$ 18.2 billion by 2028, according to a new report by Vision Research Reports.
The global Point Of Sale Software market size was valued at US$ 8.3 billion in 2020 and is anticipated to grow at a CAGR of 10.2% during forecast period 2021 to 2028.
The market is expected to witness substantial growth owing to increasing need for compatible software for point of sale system’s functioning. Point-of-Sale (POS) software facilitates functions such as inventory management, authorize cards payment, collect signatures and e-mail receipts, and manage employees and business operations to minimize human intervention and ensure smooth running of all processes.
POS software is used across different end-user industries for processing payments, bookkeeping, invoicing, tracking orders, and other functions. However, the functionality may significantly vary depending upon the end-user industry requirement. For instance, the restaurant POS software requires specific features such as order, inventory, table management, and employee scheduling to meet the needs of different restaurant types, which is not needed in retail or healthcare. Hence, increasing demand for customized POS software in restaurant, retail, hospitality, healthcare, entertainment business, and other industries is expected to boost the point of sale software market over the forecast period.
POS software for a fixed POS terminal has been used for decades and is trusted across all large business sectors due to its ability to provide robust business functions and management of inventory, loyalty programs and gift cards, credit/debit card payment, employee attendance, and cash drawer for large enterprises. While small and medium enterprises have largely opted for mobile POS software owing to its convenience in business to allow credit or debit card payments virtually as well as at any location on-the-go.
By the application, the point of sale software market has been classified into fixed POS and mobile POS segment. The fixed POS segment dominated the market in 2019, accounting for over 58% of the overall market share. The growth can be attributed to the current preference of most brick-and-mortar restaurants and retail stores for a fixed POS solution over mobile POS since they provide more functionality and features. The consumer is inclined toward using a fixed POS system due to benefits such as robust management solutions with business functionality, employee time clocks, a cash drawer, inventory management, loyalty programs, and gift card management.
The on-premise segment held the highest market share in 2019, owing to higher adoption by the large enterprises, which runs on the local server over the remote facility. Large enterprises have a huge volume of sensitive customer information prone to data breach. Hence, on-premise deployment of software provides more control to the owner, thus ensuring better security of crucial data.
The market for the Small and Medium Enterprise (SME) segment is expected to expand at the highest CAGR of 11.8% over the forecast period. The SMEs are readily adopting cloud-based mobile POS software solutions owing to its affordability and scalability. Moreover, small and medium-size businesses often expand at the city or state level and prefer budget-friendly systems based on word-of-mouth by similar business owners. Therefore, the SME user contribution to the POS software market has been vital in helping vendors expand their presence in the local market. The vendors targeting local business owners are focusing on small and medium-size local businesses across retail, hospitality, healthcare, and other major industries.
On the basis of end user, the market is segmented into hospitality, restaurants, healthcare, retail, warehouse, entertainment, and others. The retail segment dominated the market in 2019 and was valued at USD 2.8 billion. The retail sector is the prime user of POS software. The industry is changing rapidly with the growth of multi-channel and e-commerce retailing and can perform better during the forecast period.
The restaurant POS software segment is poised to register a CAGR of 10.3% over the forecast period since it is another lucrative segment for the vendors. Rising integration of restaurants with online delivery providers is a key feature influencing POS purchases. Online ordering and delivery are expected to drive POS investments in 2020 which will in turn help restaurants avoid costly third-party fees. Data analytics, order management, marketing, and payments in the restaurant industry have led to a staggering trajectory and are expected to augment over the coming years.
North America market was valued at USD 2.4 billion and also held the largest share of the overall market in 2019. The region has a presence of prominent POS software vendors and has a high demand and adoption for advanced integrated systems. The healthcare industry in the U.S. is expected to witness the fastest growth rate owing to the need for improving facilities in hospitals related to payment, insurance, and management of patients. According to the American Hospital Association’s survey in 2018, there were 6,148 hospitals that required cost-effective and robust POS software integrated with all insurance payment processing, patient financial services, reporting, and accounting to provide complete payment processing.
Diebold Nixdorf; Incorporated; Lightspeed; NCR Corporation; PAR Technology Corp.; Revel System Inc.; ShopKeep; Square; Inc.; Toast Inc.; TouchBistro; Vend Limited.
Deployment Mode Outlook
Organization Size Outlook
Small and Medium Enterprise (SME)
Middle East & Africa (MEA)
The Point Of Sale Software market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Point Of Sale Software market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Point Of Sale Software market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Point Of Sale Software market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Point Of Sale Software market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Point Of Sale Software capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Point Of Sale Software by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Point Of Sale Software market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Point Of Sale Software market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Point Of Sale Software market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Point Of Sale Software industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Point Of Sale Software market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Point Of Sale Software market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Point Of Sale Software market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Point Of Sale Software market. These factors have benefited the growth of the global market for Point Of Sale Software. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Point Of Sale Software. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Point Of Sale Software are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
Wires And Cables Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...
Optical Character Recognition Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...
Engineering Services Outsourcing Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...
Augmented Reality Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...
Automotive Finance Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...