Retail Point of Sale Market Size Worth USD 43.79 Billion in 2028 |Hewlett-Packard Inc., Micros Systems Inc., Cisco Systems Inc., NEC Corporation, Panasonic Corporation, Epicor Software Corporation, Ingenico Group.
Global retail point of sale market size is expected to reach USD 43.79 Billion at a steady CAGR of 13.8% in 2028, according to latest analysis by Emergen Research. Changing customer preference for cashless transactions at retail stores, convenience of paper-less billing, and reduced need for manual effort are some key factors driving growth of the global retail point of sale system market currently.
Point of sale systems enables streamlining and automating processes related to transactions and tracking of crucial sales data and product-related information and inventory. Retailers are rapidly enhancing their sales functionality by deploying data-capture devices and networks, including barcode scanners and card readers. Retailers are able to track price accuracy, gross revenue, inventory changes, and sales patterns, which aid in understanding and deploying strategies that can open up high potential revenue opportunities going ahead. Point of sale system manufacturers are focused on enhancing efficiency and developing more innovative products and solutions to drive adoption of products at larger scale.
Governments in countries across the globe are undertaking various initiatives to transform the global economy into a cashless society. This trend has prompted retailers to focus on deploying cashless payment options and processes at stores and also to explore opportunities to enhance consumer experience, build brand loyalty, expand consumer base, as well as to drive sales and profit margins.
Modern point of sale systems are designed to sync with third-party software systems. These are tailored with features such as membership programs that award points to regular buyers and offer discounts on future purchases. The retail point of sale has its own vulnerabilities and the software is prone to phishing, and hackers can infiltrate and gain access to valuable and confidential information such as credit card details of customers. Data security concerns is a key factor expected to continue to hamper growth of the market to a certain extent going ahead.
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This 265-page Retail Point of Sale market report examines the Retail Point of Sale market in detail and provides market sizing & outlook by technology and by region until 2026. The report also highlights key use cases, leading industry suppliers, adoption strategies, detailed case studies, disruptive trends, and other insights related to Retail Point of Sale.
The global Retail Point of Sale industry is highly consolidated due to the presence of powerful market competitors across several regional and local segments of the Retail Point of Sale market. These players are said to dominate the industry owing to their strong geographical reach and large production facilities. These companies are said to be in high competition with one another in terms of technological capabilities, product development and innovation, and product pricing strategies.
The major manufacturers covered in this report:
Hewlett-Packard Inc., Micros Systems Inc., Cisco Systems Inc., NEC Corporation, Panasonic Corporation, Epicor Software Corporation, Ingenico Group, Samsung Electronics Co. Ltd., VeriFone Systems Inc., and Toshiba Tec Corporation
A quick look at the industry trends and opportunities
The study evaluates the ever-changing industry dynamics that are expected to affect the trajectory of the overall market. Our expert analysts scrutinize the historical trends in the market and compare it to the contemporary market trends, to estimate the trajectory that the market might follow in the forecast period. For an in-depth discussion regarding the global Retail Point of Sale market, analysts segment the market parameters based on the application, product, and end-users.
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Segments Covered in this report are:
- Component Outlook (Revenue, USD Billion; 2018–2028)
- Product Outlook (Revenue, USD Billion; 2018–2028)
- Mobile POS Terminals
- Fixed POS Terminals
- End-use Outlook (Revenue, USD Billion; 2018–2028)
- Specialty Stores
- Grocery Stores
- Gas Stations
The global Retail Point of Sale market consists of various significant regional segments. Under this section of the report, the product demand, output, and estimated revenue share of each region have been ascertained. The most prominent regions dictating the global market include:
- North America (U.S., Canada, Mexico)
- South America (Brazil, Argentina, Ecuador, Chile)
- Europe (U.K., Germany, France, Italy)
- Asia Pacific (China, Japan, India, Korea)
- Middle East & Africa (Egypt, Turkey, Saudi Arabia, Iran)
For further information on this analysis, please visit @ https://www.emergenresearch.com/industry-report/retail-point-of-sale-market
Some Key Highlights in the Report
In February 2021, POS software developing company, GiftLogic, announced its partnership with Paystri, which is a payments technology company delivering solutions to businesses of all sizes and Independent Software Vendors (ISVs). Partnering with GiftLogic will expand Paystri’s presence in the retail market.
In February 2021, FinCanna Capital announced the launch of new product by its royalty portfolio company, Wholly Owned Green Compliance Inc. The company delivers HIPAA-compliant point-of-sale solutions for U.S. licensed cannabis cultivators and dispensaries. The new product – ezGreen POS solution – consists of robust tools and features that are efficient in reducing time and costs of managing product information and client data.
The incorporation of touch screens in mobile point of sale systems is expected to drive revenue growth of the hardware segment. The emergence of Internet of Things (IoT) will help in reducing product size and increase connectivity. The hardware segment revenue is expected to incline significantly during the forecast period due to technological advancements in hardware and devices and steady shift to a global cashless society.
Mobile POS functions through software installed on handheld mobile devices such as smartphones, android tablets, and iPads, and these systems are function wirelessly which is quite convenient and has no cables attached. In addition, employees are able to check-out customers or access information from inventory from anywhere in the store using such devices.
North America accounted for largest revenue share in 2020 due to increasing adoption of POS technology in countries in the region. Growing interest in enhanced service delivery, non-cash transactions among consumers, and increased data visibility through cloud point of sale systems are some key factors expected to fuel growth of the market in the region going ahead.
The professional intelligence study on the Retail Point of Sale market addresses some of the most critical questions:
What are the key trends in the Market?
What are the driving forces behind the Retail Point of Sale market?
What are the obstacles to market growth?
Which are the top vendors in this space?
What are the threats and opportunities in the market for key vendors?
What are the strengths or weaknesses of critical vendors?
What are the future opportunities for the players in the Retail Point of Sale market?
What are the main issues facing the global Retail Point of Sale market?
How does the competitive landscape look?
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Table of content
Chapter 1: Methodology & Scope
- Definition and forecast parameters
- Methodology and forecast parameters
- Data Sources
- Business trends
- Regional trends
- Product trends
- End-use trends
- Industry segmentation
- Industry landscape
- Vendor matrix
- Technological and innovation landscape
- Business Overview
- Financial Data
- Product Landscape
- Strategic Outlook
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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