Retail Point-of-Sale Terminals Market Size, Report 2023-2032
The global retail point-of-sale terminals market size was estimated at around USD 28.76 billion in 2022 and it is projected to hit around USD 59.06 billion by 2032, growing at a CAGR of 7.46% from 2023 to 2032. The retail point-of-sale terminals market in the United States was accounted for USD 6.3 billion in 2022.
Key Pointers
Report Scope of the Retail Point-of-Sale Terminals Market
| Report Coverage | Details |
| Revenue Share of Asia Pacific in 2022 | 33.47% |
| Revenue Forecast by 2032 | USD 28.76 billion |
| Growth Rate from 2023 to 2032 | CAGR of 7.46% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Companies Covered | Acrelec; Agilysys Inc.; AURES Group; Elo Touch Solutions, Inc.; Intuit, Inc.; Lightspeed; Clover Network, LLC (Acquired by Fiserv, Inc.); Block, Inc.; HP Development Company, L.P.; NCR Corporation; Oracle; Revel Systems; SAP SE; Toshiba Corporation; TOAST, Inc. |
Retail POS terminal software is benefitting retailers worldwide. The retail industry has undergone a significant transformation, especially in accounting systems for stores, owing to the continued advances in technology. The demand for wireless POS systems is rising as they can potentially offer employees and retailers more flexibility to perform transactions. Wireless systems allow sales representatives to move freely throughout the store, assist customers by providing more insights into the products they are looking for, and close deals on the spot.
The growing preference for non-cash transactions is particularly driving the demand for POS terminals for product delivery. The ability to fetch real-time data offered by cloud-based POS systems is emerging as the major factor driving the adoption of POS systems. The pandemic has increased hygiene and health concerns among sellers and buyers. To refrain from using cash and avoiding physical contact, there has been an increase in cashless transactions thereby supporting the adoption of advanced payment systems such as POS terminals across retail vendors.
However, growing concerns over data security and privacy protection are one of the key restraints of the retail POS terminals market. Online POS systems can be highly vulnerable to cyber risks. Given that POS systems handle sensitive information, such as customers’ debit card and credit card information, and retailers’ inventory data, among other critical information, hackers can potentially target POS systems to gain access to this sensitive data. The Payment Card Industry (PCI) Security Standards Council is playing a niche role in strengthening the security of payment systems by drafting standards and encouraging all stakeholders to implement these standards appropriately.
Product Insights
The fixed POS terminals segment held the largest revenue share of 61.81% in 2022. The growing demand for fixed POS solutions across the retail sector can be attributed to their vast benefits, including robust business functionality. These solutions enable retailers to manage and track their finances, employee time clock, gift cards, and loyalty programs, among other features.
The mobile POS terminals segment is likely to expand at a significant CAGR of 10.12% over the forecast period. The mobile POS solution is an enhancement to the traditional POS solution. Merchants highly engaged in their daily activities are more inclined toward adopting mPOS solutions with inbuilt scanners that enable reading credit/debit cards through the card reader attached to the tablet or smartphone.
Component Insights
The hardware segment held the largest revenue share of 63.36% in 2022. The growing demand for flexible and portable POS terminals in the retail sector is attributed to the need for faster service, reduced queues, and maintaining transactions through modern payment devices. Peripheral devices such as scanners, barcode readers, pole displays, keyboards, and receipt printers are also inseparable parts of a conventional POS system.
The software segment is likely to expand at a significant CAGR of 9.94% over the forecast period. The growth of the POS software segment can be attributed to the growing demand for new software features such as inventory tracking, customer data management, employee management analytics, sales monitoring, and reporting to improve business operations.
Deployment Insights
The on-premise segment held the largest revenue share of 73.89% in 2022. On-premise POS systems also called legacy POS or traditional POS, store and process information using local servers and save the data on a local drive. The growing demand for on-premise POS systems owing to their distinctive benefits to retailers, such as diverse functionalities and extensive display setup, has propelled the growth of the retail POS terminals industry.
The cloud segment is likely to expand at a significant CAGR of 10.06% over the forecast period. Cloud POS systems have gained immense popularity among small businesses owing to their numerous benefits such as remote access, subscription-based pricing, data security, all-in-one solution, inventory management, and sales management features.
Application Insights
The supermarkets/ hypermarkets segment held the largest revenue share of 46.68% in 2022. Supermarkets/ hypermarkets prefer reliable automated billing software over manually operated billing systems as they allow them to track and manage inventory, revenue, sales, and account information more easily and conveniently. These solutions enable supermarket/ hypermarket retailers to record an overall customer shopping experience to offer better customer service.
The convenience stores segment is likely to expand at a significant CAGR of 7.62% over the forecast period. Convenience stores adopt retail POS terminals to help them identify high-value points of sales features. These terminals also assist convenience store operators in inventory management, order management, and employee management, among other features.
Regional Insights
Asia Pacific held the largest revenue share of 33.47% in 2022 and is expected to register the highest CAGR from 2022 to 2032. The growth can be majorly attributed to the strategic initiatives taken by companies aimed at expanding their retail customer base. China has been witnessing an increase in the number of POS solution offerings in China. The companies are engaged in partnerships/collaboration/acquisitions aimed at providing better POS terminal solutions targeting retailers. Supportive initiatives taken by the government to encourage POS adoption and online payments are among the key factors driving the growth of the market in India.
North America held a significant revenue share in 2022. The growth can be attributed to the presence of some of the most prominent players, including Toast, Inc.; Lightspeed; and TouchBistro. The presence of leading players in the region has enabled the wider adoption of POS terminals among retail businesses owing to easy availability. The increasing adoption of digital technology across every business area and workplace is restructuring the U.S. economy. The post-pandemic effect has impacted the retail industry by digitally transforming businesses faster than previously planned. The adoption of retail POS terminals among stores to record sales, inventory management, and fulfill all the in-store activities has formed a huge base for market growth in the U.S.
Retail Point-of-Sale Terminals Market Segmentations:
By Product
By Component
By Deployment
By Application
By Regional
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Retail Point-of-Sale Terminals Market
5.1. COVID-19 Landscape: Retail Point-of-Sale Terminals Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Retail Point-of-Sale Terminals Market, By Product
8.1. Retail Point-of-Sale Terminals Market, by Product, 2023-2032
8.1.1. Fixed POS Terminals
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Mobile POS Terminals
8.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Retail Point-of-Sale Terminals Market, By Component
9.1. Retail Point-of-Sale Terminals Market, by Component, 2023-2032
9.1.1. Hardware
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Software
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Services
9.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Retail Point-of-Sale Terminals Market, By Deployment
10.1. Retail Point-of-Sale Terminals Market, by Deployment, 2023-2032
10.1.1. Cloud
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. On-premise
10.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global Retail Point-of-Sale Terminals Market, By Application
11.1. Retail Point-of-Sale Terminals Market, by Application, 2023-2032
11.1.1. Supermarkets/Hypermarkets
11.1.1.1. Market Revenue and Forecast (2020-2032)
11.1.2. Convenience Stores
11.1.2.1. Market Revenue and Forecast (2020-2032)
11.1.3. Grocery Stores
11.1.3.1. Market Revenue and Forecast (2020-2032)
11.1.4. Specialty Stores
11.1.4.1. Market Revenue and Forecast (2020-2032)
11.1.5. Gas Stations
11.1.5.1. Market Revenue and Forecast (2020-2032)
11.1.6. Others
11.1.6.1. Market Revenue and Forecast (2020-2032)
Chapter 12. Global Retail Point-of-Sale Terminals Market, Regional Estimates and Trend Forecast
12.1. North America
12.1.1. Market Revenue and Forecast, by Product (2020-2032)
12.1.2. Market Revenue and Forecast, by Component (2020-2032)
12.1.3. Market Revenue and Forecast, by Deployment (2020-2032)
12.1.4. Market Revenue and Forecast, by Application (2020-2032)
12.1.5. U.S.
12.1.5.1. Market Revenue and Forecast, by Product (2020-2032)
12.1.5.2. Market Revenue and Forecast, by Component (2020-2032)
12.1.5.3. Market Revenue and Forecast, by Deployment (2020-2032)
12.1.5.4. Market Revenue and Forecast, by Application (2020-2032)
12.1.6. Rest of North America
12.1.6.1. Market Revenue and Forecast, by Product (2020-2032)
12.1.6.2. Market Revenue and Forecast, by Component (2020-2032)
12.1.6.3. Market Revenue and Forecast, by Deployment (2020-2032)
12.1.6.4. Market Revenue and Forecast, by Application (2020-2032)
12.2. Europe
12.2.1. Market Revenue and Forecast, by Product (2020-2032)
12.2.2. Market Revenue and Forecast, by Component (2020-2032)
12.2.3. Market Revenue and Forecast, by Deployment (2020-2032)
12.2.4. Market Revenue and Forecast, by Application (2020-2032)
12.2.5. UK
12.2.5.1. Market Revenue and Forecast, by Product (2020-2032)
12.2.5.2. Market Revenue and Forecast, by Component (2020-2032)
12.2.5.3. Market Revenue and Forecast, by Deployment (2020-2032)
12.2.5.4. Market Revenue and Forecast, by Application (2020-2032)
12.2.6. Germany
12.2.6.1. Market Revenue and Forecast, by Product (2020-2032)
12.2.6.2. Market Revenue and Forecast, by Component (2020-2032)
12.2.6.3. Market Revenue and Forecast, by Deployment (2020-2032)
12.2.6.4. Market Revenue and Forecast, by Application (2020-2032)
12.2.7. France
12.2.7.1. Market Revenue and Forecast, by Product (2020-2032)
12.2.7.2. Market Revenue and Forecast, by Component (2020-2032)
12.2.7.3. Market Revenue and Forecast, by Deployment (2020-2032)
12.2.7.4. Market Revenue and Forecast, by Application (2020-2032)
12.2.8. Rest of Europe
12.2.8.1. Market Revenue and Forecast, by Product (2020-2032)
12.2.8.2. Market Revenue and Forecast, by Component (2020-2032)
12.2.8.3. Market Revenue and Forecast, by Deployment (2020-2032)
12.2.8.4. Market Revenue and Forecast, by Application (2020-2032)
12.3. APAC
12.3.1. Market Revenue and Forecast, by Product (2020-2032)
12.3.2. Market Revenue and Forecast, by Component (2020-2032)
12.3.3. Market Revenue and Forecast, by Deployment (2020-2032)
12.3.4. Market Revenue and Forecast, by Application (2020-2032)
12.3.5. India
12.3.5.1. Market Revenue and Forecast, by Product (2020-2032)
12.3.5.2. Market Revenue and Forecast, by Component (2020-2032)
12.3.5.3. Market Revenue and Forecast, by Deployment (2020-2032)
12.3.5.4. Market Revenue and Forecast, by Application (2020-2032)
12.3.6. China
12.3.6.1. Market Revenue and Forecast, by Product (2020-2032)
12.3.6.2. Market Revenue and Forecast, by Component (2020-2032)
12.3.6.3. Market Revenue and Forecast, by Deployment (2020-2032)
12.3.6.4. Market Revenue and Forecast, by Application (2020-2032)
12.3.7. Japan
12.3.7.1. Market Revenue and Forecast, by Product (2020-2032)
12.3.7.2. Market Revenue and Forecast, by Component (2020-2032)
12.3.7.3. Market Revenue and Forecast, by Deployment (2020-2032)
12.3.7.4. Market Revenue and Forecast, by Application (2020-2032)
12.3.8. Rest of APAC
12.3.8.1. Market Revenue and Forecast, by Product (2020-2032)
12.3.8.2. Market Revenue and Forecast, by Component (2020-2032)
12.3.8.3. Market Revenue and Forecast, by Deployment (2020-2032)
12.3.8.4. Market Revenue and Forecast, by Application (2020-2032)
12.4. MEA
12.4.1. Market Revenue and Forecast, by Product (2020-2032)
12.4.2. Market Revenue and Forecast, by Component (2020-2032)
12.4.3. Market Revenue and Forecast, by Deployment (2020-2032)
12.4.4. Market Revenue and Forecast, by Application (2020-2032)
12.4.5. GCC
12.4.5.1. Market Revenue and Forecast, by Product (2020-2032)
12.4.5.2. Market Revenue and Forecast, by Component (2020-2032)
12.4.5.3. Market Revenue and Forecast, by Deployment (2020-2032)
12.4.5.4. Market Revenue and Forecast, by Application (2020-2032)
12.4.6. North Africa
12.4.6.1. Market Revenue and Forecast, by Product (2020-2032)
12.4.6.2. Market Revenue and Forecast, by Component (2020-2032)
12.4.6.3. Market Revenue and Forecast, by Deployment (2020-2032)
12.4.6.4. Market Revenue and Forecast, by Application (2020-2032)
12.4.7. South Africa
12.4.7.1. Market Revenue and Forecast, by Product (2020-2032)
12.4.7.2. Market Revenue and Forecast, by Component (2020-2032)
12.4.7.3. Market Revenue and Forecast, by Deployment (2020-2032)
12.4.7.4. Market Revenue and Forecast, by Application (2020-2032)
12.4.8. Rest of MEA
12.4.8.1. Market Revenue and Forecast, by Product (2020-2032)
12.4.8.2. Market Revenue and Forecast, by Component (2020-2032)
12.4.8.3. Market Revenue and Forecast, by Deployment (2020-2032)
12.4.8.4. Market Revenue and Forecast, by Application (2020-2032)
12.5. Latin America
12.5.1. Market Revenue and Forecast, by Product (2020-2032)
12.5.2. Market Revenue and Forecast, by Component (2020-2032)
12.5.3. Market Revenue and Forecast, by Deployment (2020-2032)
12.5.4. Market Revenue and Forecast, by Application (2020-2032)
12.5.5. Brazil
12.5.5.1. Market Revenue and Forecast, by Product (2020-2032)
12.5.5.2. Market Revenue and Forecast, by Component (2020-2032)
12.5.5.3. Market Revenue and Forecast, by Deployment (2020-2032)
12.5.5.4. Market Revenue and Forecast, by Application (2020-2032)
12.5.6. Rest of LATAM
12.5.6.1. Market Revenue and Forecast, by Product (2020-2032)
12.5.6.2. Market Revenue and Forecast, by Component (2020-2032)
12.5.6.3. Market Revenue and Forecast, by Deployment (2020-2032)
12.5.6.4. Market Revenue and Forecast, by Application (2020-2032)
Chapter 13. Company Profiles
13.1. Acrelec
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. Agilysys Inc.
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. AURES Group
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. Clover Network, Inc.
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. Elo Touch Solutions, Inc.
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. Intuit, Inc.
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. Lightspeed
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. Clover Network, LLC (Acquired by Fiserv, Inc.)
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
13.9. Block, Inc.
13.9.1. Company Overview
13.9.2. Product Offerings
13.9.3. Financial Performance
13.9.4. Recent Initiatives
13.10. HP Development Company, L.P.
13.10.1. Company Overview
13.10.2. Product Offerings
13.10.3. Financial Performance
13.10.4. Recent Initiatives
Chapter 14. Research Methodology
14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions
Chapter 15. Appendix
15.1. About Us
15.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers