POS Software Market by Functionality, Format, Deployment Type, Organization Size, End User

List of Tables

[196 Pages Report] The POS Software Market size was estimated at USD 11.23 billion in 2023 and expected to reach USD 12.29 billion in 2024, at a CAGR 9.57% to reach USD 21.31 billion by 2030.

Point of sale (POS) software is a pivotal tool for retail businesses, restaurants, and various service-oriented sectors, facilitating the processing and recording of transactions securely and efficiently. This digital solution streamlines the operations from sales transactions, inventory management, and customer relationship management to financial reporting. Modern POS systems are highly versatile, operating on multiple devices, including computers, tablets, and smartphones, providing real-time data analytics to empower businesses in making informed decisions. The increasing adoption of mobile POS systems, cloud-based solutions, and the integration of payment systems with other business operations has fuelled the need for POS software. Furthermore, the growth of eCommerce and the need for fast and secure transactions coupled with the demand for advanced analytics and big data tools in POS systems for personalized customer engagement strategies drive the adoption of POS software. However, the high initial setup and maintenance costs for advanced POS systems might deter small businesses from adopting the latest technologies. The growth of the POS software market faces limitations due to data security and privacy concerns. Moreover, key players are exploring the integration of blockchain technology and advanced encryption algorithms to improve cybersecurity concerns and privacy issues. The integration of AI and ML algorithms for predictive analytics, customer buying behavior analysis, and inventory management presents new growth opportunities. Embracing mobile wallets and contactless payment technologies within POS systems to cater to the rising consumer demand for convenience and speed is another major opportunity area.

KEY MARKET STATISTICS
Base Year [2023]	USD 11.23 billion
Estimated Year [2024]	USD 12.29 billion
Forecast Year [2030]	USD 21.31 billion
CAGR (%)	9.57%

Regional Insights

The Americas region, particularly the U.S. and Canada, features a robust and highly developed technological architecture and an established eCommerce industry, driving several innovations in POS software. The POS software market in the Americas has shown significant growth due to the increasing adoption of cloud-based solutions and mobile POS systems. The U.S. is a hub for retail innovation and witnesses a high demand for POS systems that offer analytics and insights to understand customer purchasing behavior better. Canada greatly emphasizes data privacy and multi-currency support due to its multicultural context. The demand for POS software in the EMEA region varies widely due to the diverse economic, cultural, and technological landscapes. European Union (EU) countries exhibit a high demand for integrated POS systems capable of navigating complex tax regulations and supporting multiple languages, emphasizing compliance, flexibility, and efficiency. Initiatives toward digital single-market strategies by the EU encourage the adoption of advanced POS systems. Stringent data privacy and security regulation and increasing inclinations toward adopting sustainable practices in the retail, eCommerce, and financial sectors have further shaped consumer dynamics in this region. The Middle East exhibits a robust growth trajectory driven by the retail and hospitality sectors. The APAC region, especially China, Japan, and India, is experiencing explosive growth in the POS software market, propelled by rapid urbanization, digitalization of the economy, and a booming eCommerce sector. China contributes significantly to the increasing adoption of POS with mobile payments and POS system innovations, which are integrated with social media platforms to enhance consumer engagement and sales. Moreover, Japan and India are highly inclined toward mobile POS, driven by the societal shift toward cashless transactions.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the POS Software Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Digitalization across the retail and hospitality sector
- Inclination of businesses toward cloud-based POS solutions
- Rising adoption of mobile based POS system

Market Restraints
- Technology issues and downtime associated with POS

Market Opportunities
- Integration of PoS software with artificial intelligence and Internet of Things
- Expanding application of POS software in the healthcare sector

Market Challenges
- Data breach and security concerns associated with the POS software

Market Segmentation Analysis
- Functionality: Emerging utilization of advanced POS software among large corporations to streamline inventory and employee management
- Deployment Type: Significant benefits of cloud-based POS software, offering ease of integration and scalability
- Organization Size: Growing demand for advanced POS software in large enterprises to handle a high volume of transactions
- Format: Higher preferences for mobile POS systems owing to their flexibility and cost efficiency, suitable for small or mobile businesses
- End User: Need for highly efficient POS software in the retail sector to handle the large volume of transactions between customers and businesses

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the POS Software Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the POS Software Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Zoho Launches PoS Solution Called Zakya for Small, Medium Enterprises

Zoho Corporation has launched a new division named Zakya, aimed at revolutionizing the point-of-sale (PoS) solutions sphere for retail shops. This innovative platform is designed to ease the technological challenges faced by small businesses by providing a user-friendly, quickly deployable solution that comprehensively covers their needs, from inventory management to omnichannel sales and various back-office operations. [Published On: 2024-02-27]

Metcalfe's Market Expands Adoption of Self-Checkout with Toshiba Global Commerce Solutions, North Country Business Products, and LOC Software

In a strategic move to enhance operational efficiency and elevate customer service, Metcalfe's Market adopted technological innovation by deepening its partnership with Toshiba Global Commerce Solutions. With an ambitious rollout, Metcalfe's integrated additional Toshiba Self Checkout System 7 solutions across its stores in collaboration with North Country Business Products (NCBP) and LOC Software. This expansion underscores Metcalfe's commitment to pioneering customer shopping experiences and also leverages the technology to support insightful data-driven decision-making and enrich loyalty programs. [Published On: 2024-02-22]

Dover Acquires Bulloch Technologies, Inc., a Provider of Point-of-Sale Solutions to the Convenience Retail Industry

Dover Corporation has completed its acquisition of Bulloch Technologies, Inc. to advance point-of-sale (POS) and electronic payment server solutions tailored for the convenience retail segment, Integrated into Dover's Fueling Solutions (DFS) unit within its Clean Energy and Fueling segment, Bulloch's inclusion solidifies DFS's footprint in North America by enhancing its POS and forecourt offerings and also capitalizes on Bulloch's acclaimed track record in Canada. [Published On: 2024-01-31]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the POS Software Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the POS Software Market, highlighting leading vendors and their innovative profiles. These include Block, Inc., Brilliant POS, LLC, Cavius International Limited, Clover Network, LLC by Fiserv, Inc., DBS, Inc., Epicor Software Corporation, Evosus,Inc., Fujitsu Limited, Guest Innovations, Inc., H&L Australia Pty Ltd., Heartland Payment Systems, LLC by Global Payments Inc., Helcim Inc., HitPay Payment Solutions Pte Ltd, HP Development Company, L.P., Idealpos Solutions Pty Ltd, Ingenico SA, International Business Machines Corporation, Intuit Inc., LAVU, Inc., Lightspeed Commerce Inc., Microsoft Corporation, NCR Voyix Corporation, NEC Corporation, Oracle Corporation, OVE, Inc., PayPal, Inc., Posist Technologies Pvt. Ltd., RepairDesk INC., Restaurant Revolution Technologies, Inc., Retail Innovation Labs LLC, Revel Systems, Inc., SAP SE, Sapaad Pte Ltd, Shopify Inc., SpotOn Transact, LLC, SwiftPOS Pty Ltd. by MSL Solutions Ltd., Toast, Inc., Toshiba Corporation, TouchBistro Inc., Wipro Limited, and Zoho Corporation Pvt. Ltd..

Market Segmentation & Coverage

This research report categorizes the POS Software Market to forecast the revenues and analyze trends in each of the following sub-markets:

Functionality
- Customer Engagement
- Employee Management
- Inventory Management
- Payment Processing
- Reporting & Analytics

Format
- Fixed POS
- Mobile POS

Deployment Type
- Cloud-Based POS Software
- On-Premises POS Software

Organization Size
- Large Enterprises
- Small and Medium-sized Enterprises (SMEs)

End User
- Healthcare
- Hospitality & Restaurants
- Media & Entertainment
- Retail
  - Specialty Stores
  - Supermarket/Hypermarket
Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-DD0700E81E63

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Digitalization across the retail and hospitality sector
  - 5.1.1.2. Inclination of businesses toward cloud-based POS solutions
  - 5.1.1.3. Rising adoption of mobile based POS system
- 5.1.2. Restraints
  - 5.1.2.1. Technology issues and downtime associated with POS
- 5.1.3. Opportunities
  - 5.1.3.1. Integration of PoS software with artificial intelligence and Internet of Things
  - 5.1.3.2. Expanding application of POS software in the healthcare sector
- 5.1.4. Challenges
  - 5.1.4.1. Data breach and security concerns associated with the POS software
5.2. Market Segmentation Analysis
- 5.2.1. Functionality: Emerging utilization of advanced POS software among large corporations to streamline inventory and employee management
- 5.2.2. Deployment Type: Significant benefits of cloud-based POS software, offering ease of integration and scalability
- 5.2.3. Organization Size: Growing demand for advanced POS software in large enterprises to handle a high volume of transactions
- 5.2.4. Format: Higher preferences for mobile POS systems owing to their flexibility and cost efficiency, suitable for small or mobile businesses
- 5.2.5. End User: Need for highly efficient POS software in the retail sector to handle the large volume of transactions between customers and businesses
5.3. Market Trend Analysis
- 5.3.1. The shift toward cashless transactions supplemented with technological advancements across Americas
- 5.3.2. The expansion of eCommerce and growing adoption of digital payment technology by the retail sector significantly boosted the POS software deployment in Asia-Pacific
- 5.3.3. Growth of small and medium-sized enterprises enriching the need for POS software in EMEA region
5.4. Cumulative Impact of High Inflation
5.5. Porter's Five Forces Analysis
- 5.5.1. Threat of New Entrants
- 5.5.2. Threat of Substitutes
- 5.5.3. Bargaining Power of Customers
- 5.5.4. Bargaining Power of Suppliers
- 5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework Analysis

6. POS Software Market, by Functionality

6.1. Introduction
6.2. Customer Engagement
6.3. Employee Management
6.4. Inventory Management
6.5. Payment Processing
6.6. Reporting & Analytics

7. POS Software Market, by Format

7.1. Introduction
7.2. Fixed POS
7.3. Mobile POS

8. POS Software Market, by Deployment Type

8.1. Introduction
8.2. Cloud-Based POS Software
8.3. On-Premises POS Software

9. POS Software Market, by Organization Size

9.1. Introduction
9.2. Large Enterprises
9.3. Small and Medium-sized Enterprises (SMEs)

10. POS Software Market, by End User

10.1. Introduction
10.2. Healthcare
10.3. Hospitality & Restaurants
10.4. Media & Entertainment
10.5. Retail

11. Americas POS Software Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific POS Software Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa POS Software Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Zoho Launches PoS Solution Called Zakya for Small, Medium Enterprises
- 14.3.2. Metcalfe's Market Expands Adoption of Self-Checkout with Toshiba Global Commerce Solutions, North Country Business Products, and LOC Software
- 14.3.3. Dover Acquires Bulloch Technologies, Inc., a Provider of Point-of-Sale Solutions to the Convenience Retail Industry
- 14.3.4. ROLLER Raises USD 50 Million to Accelerate Innovation
- 14.3.5. Toast Launches App, Enhances POS System
- 14.3.6. QueueBuster POS Joins Hands with TVS Electronics to Expand its Sales Merchant Base
- 14.3.7. Nayax to Acquire POS Software Form Retail Pro International
- 14.3.8. PAR Technology Corporation Has Entered into An Exclusive Unified Point-of-Sale Agreement
- 14.3.9. Shopify Brings Its POS Go Device To UK & Ireland
- 14.3.10. POSaBIT Announces Highly Anticipated Full Launch of POSaBIT POS 2.0, Setting a New Standard for Point-of-Sale Technology
- 14.3.11. Toshiba Launches Powerful and Compact TCx 900 Point-of-Sale System
- 14.3.12. Toshiba Taps BlueStar to Expand POS Network
- 14.3.13. Ingenico Acquires Phos, Extending its Offer for Merchant Payment Acceptance via Smartphone
- 14.3.14. PopID and Toshiba Partner on Facial Recognition POS Systems
- 14.3.15. Markt POS Launches First All-in-One, Cloud-Based Point-of-Sale Solution to Meet the Needs of Small to Medium Grocery and Specialty Markets

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio