Retail Point of Sale Market worth $34.4 billion by 2026, Growing at a CAGR of 13.9%: Report by MarketsandMarkets™

As per the report by MarketsandMarkets, the global Retail Point of Sale Market size is projected to reach USD 34.4 billion by 2026, at a CAGR of 13.9% during the forecast period, 2021-2026

/EIN News/ -- Chicago, May 31, 2023 (GLOBE NEWSWIRE) -- The global Retail Point of Sale Market size is projected to grow from USD 15.8 billion in 2020 to USD 34.4 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 13.9% during the forecast period, according to a new report by MarketsandMarkets™.  The increasing venture capital funding and growing investments in retail POS to drive market growth.

Browse in-depth TOC on "Retail Point of Sale Market"

246 - Tables
52 - Figures
224 - Pages

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Scope of the Report

Report Metrics	Details
Market size available for years	2014–2026
Base year considered	2019
Forecast period	2020–2026
Forecast units	Value (USD Million/Billion)
Segments covered	Product (Fixed and Mobile), Component (Hardware, Software, and Services), End User (supermarkets/hypermarkets, grocery stores, specialty stores, convenience stores, gas stations, discount stores, and other end users), and Region
Regions covered	North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
Companies covered	Diebold Nixdorf (US), Ingenico (France), Intuit (US), NCR Corporation (US), SAP (Germany), Verifone (US), PAX Technology (Hong Kong), Square (US), Shopify (Canada), NEC Corporation (Japan), Toshiba Tec Corporation (Japan), Epicor (US), Lightspeed (Canada), Clover (US), Elavon (US), Castels Technology (Taiwan), Newland Payment Technology (China), New POS Technology (China), HP (US), Cegid Grou (France), Posiflex Technology (Taiwan), Centerm (China), Revel System (US), Vend (New Zealand), Zebra Technologies (US).

This report's scope covers the retail POS market by product, component, end user and region. Moreover, this study analyzes the retail POS market based on contemporary trends and developments, and its potential growth from 2020 to 2026. It provides detailed trends, vendors’ shares, size, forecast, and analysis of key players in the market.

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Based on regions, the retail POS market in Asia Pacific (APAC) is projected to grow at the highest CAGR during the forecast period. APAC countries are increasingly investing in retail POS projects. The retail POS market in APAC has been sub-segmented into China, Japan, India, and the rest of APAC. A rapidly growing customer base, due to the increasing prominence of SMEs, coupled with the reduction in TCO, is expected to drive the retail POS market growth in APAC. Benefits associated with retail POS systems, such as low queue time, high degree of security, paper-free receipt option, decrease in check-out space requirement, and increase in floor space, would help fuel the growth of the retail POS market in APAC. The booming retail sector and emerging infrastructures in the region would further facilitate the growth of the retail POS market in APAC. The major growth drivers for the market include growing interest in non-cash transactions among consumers, increased data visibility through cloud POS systems and enhanced service delivery. However, data security concerns may restrain the market growth.

Based on products, the mobile POS segment to register the highest CAGR during the forecast period. There is a myriad of advantages that the mobile POS system offers, such as maximum durability, ease of use, and simple set-up. Mobile POS systems are widely used by small retailers that do not possess a lot of inventory and capital resources. Training employees to use mobile POS is comparatively easy that ultimately lowers retailer’s operating training expenditures. The changing customer preferences for in-store contactless mobile payment options are expected to spur adoption of the mobile POS market globally. The popularity of tablets and other handheld devices and changing payment options, such as credit cards and mobile payments, have made mobile POS systems an attractive option for retailers. The emergence of new payment methods, such as Near Field Communication (NFC), Europay, MasterCard, and Visa (EMV), are urging retailers and merchants to necessarily comply with these technologies, which is expected to spur the demand for mobile POS worldwide.

Market Players

The major vendors covered in the Retail Point of Sale Market include Diebold Nixdorf (US), Ingenico (France), Intuit (US), NCR Corporation (US), SAP (Germany), Verifone (US), PAX Technology (Hong Kong), Square (US), Shopify (Canada), NEC Corporation (Japan), Toshiba Tec Corporation (Japan), Epicor (US), Lightspeed (Canada), Clover (US), Elavon (US), Castels Technology (Taiwan), Newland Payment Technology (China), New POS Technology (China), HP (US), Cegid Grou (France), Posiflex Technology (Taiwan), Centerm (China), Revel System (US), Vend (New Zealand), Zebra Technologies (US).

Frequently Asked Questions (FAQ)

What is the projected market value of the global retail POS market?

The global retail POS market size is projected to grow from USD 15.8 billion in 2020 to USD 34.4 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 13.9% during the forecast period.

Which region has the highest market share in the retail POS market?

North America is expected to hold the largest market share in the retail POS market.

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