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Point of Sale (POS) Software Market Size by Product (Mobile, Fixed), By Deployment Model (On-premise, Cloud), By Operating System (Windows, Linux, MAC), By Organization Size (SMEs, Large Enterprises), By End-Use (Restaurants, Hospitality, Healthcare, Retail, Warehouse/Distribution, Entertainment), By Application (Inventory Tracking, Sales Reporting, Customer Engagement, Billing Management), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032

  • Report ID: GMI5392
  • Published Date: Nov 2022
  • Report Format: PDF

Industry Growth Drivers

Point of Sale Software Market size valued at USD 7 billion in 2022 and is predicted to grow at more than 15% CAGR between 2023 and 2032.
 

Point of Sale Software Market

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The development of improved payment solutions by manufacturers, advancements in the networking infrastructure, and access to strong internet connectivity are estimated to positively impact the demand for POS software. Government initiatives that promote the adoption of software and support investments in the development of IT infrastructure in many nations are facilitating the sizable expansion of the market. Similarly, the widespread smartphone and internet penetration, along with the rapid digitization across diverse industries, is anticipated to create enormous opportunities for POS software market expansion.
 

Fixed POS systems to record proliferating demand among large businesses

The fixed segment is anticipated to expand at 13% growth rate up to 2032. A cash drawer, staff time clocks, robust business functionality, and the ability to manage loyalty and gift card programs are some advantages of fixed POS solutions. Enhanced data privacy and the escalating usage by local business owners for handling massive volumes of daily transactions are set to impel product adoption.
 

Ease of use and installation to push cloud-based POS software

The cloud deployment model segment captured more than 47.5% of the point of sale software market share in 2022 and is forecast to observe strong growth through 2032. Different end-use sectors are being influenced by the expanding digitization to use cloud-based POS services. Due to its low cost and simple installation, cloud-based POS software is becoming more popular, which is speculated to bolster segment progress.
 

Rising utilization by varied end users to fuel Windows OS market growth

Global POS Software Market Size, By OS

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The Windows OS segment held approximately 77% of the market share in 2022 and is projected to develop notably. A large number of end users in several industries utilize Windows. The surging popularity and high security of Windows operating systems are primed to complement segment growth.
 

Mounting need for personalized services to boost customer engagement segment expansion

The customer engagement segment is showcase 18% growth from 2023 to 2032 supported by the ability of POS software to create marketing emails and SMS according to consumer purchasing patterns. The soaring focus of all businesses on maintaining optimal customer satisfaction and engagement, as well as on offering customized services, is foreseen to foster segment outlook.
 

Strict regulatory policies may limit product uptake

The presence of numerous stringent regulations, such as fines for security breaches in EPOS systems and rules for safeguarding client details, is likely to hinder the growth of the point of sale software market. However, as more and more enterprises switch to POS systems and online payments and supportive government initiatives to protect consumer interest might help companies overcome this constraint in the future.
 

High frequency of transactions to propel product penetration in healthcare sector

The healthcare end-use segment is predicted to witness around 18.5% CAGR from 2023 to 2032. The COVID-19 outbreak accelerated the need for contactless payment transactions across all businesses. Furthermore, hospitals needed to upgrade their payment, insurance, and patient management infrastructure. This fueled the need for reliable, affordable payment software with efficient insurance processing, which increased the demand for POS software in healthcare facilities and is poised to augment segment revenues.
 

Growing preference for digital payments to stimulate APAC market

Asia Pacific POS Software Market Size

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The Asia Pacific POS software market size is expected to register over 18% gains between 2023 and 2032. The burgeoning popularity of digital payment methods in various nations is slated to drive market growth in the APAC region. Additionally, several countries are adopting initiatives & programs to promote the integration of contactless payment solutions across several industrial sectors, which is speculated to strengthen the regional business.
 

Product innovation to define the competitive landscape

The worldwide point of sale software market is consolidated by leading companies, including Toast Inc., Block Inc., Fujitsu, NCR Corporation, and Oracle Corporation. Through various strategies, such as mergers & acquisitions, product development, and partnerships, these firms are supplementing their technological capabilities and market presence.
 

Impact of COVID-19 on POS software business trends

The COVID-19 pandemic caused an upsurge in contactless payments as they were considered a safer solution by users for financial transactions in order to limit the spread of the coronavirus infection. In addition, increased consumer inclination toward POS systems for making purchases in different sectors, particularly in the retail and e-commerce spheres, positively influenced the usage of POS software, thereby bolstering market progression in recent years.
 

This point of sale (POS) software market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2019 to 2032, for the following segments:

Market Outlook, By Product

  • Mobile
  • Fixed

Market Outlook, By Deployment Model

  • On-premise
  • Cloud

Market Outlook, By OS

  • Windows
  • Linux
  • MAC

Market Outlook, By Organization Size

  • SMEs
  • Large Enterprises

Market Outlook, By End-Use

  • Restaurants
  • Hospitality
  • Healthcare
  • Retail
  • Warehouse/distribution
  • Entertainment
  • Others

Market Outlook, By Application

  • Inventory Tracking
  • Sales Reporting
  • Customer Engagement
  • Billing Management

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia & New Zealand
    • Southeast Asia
  • South America
    • Brazil
    • Mexico
    • Argentina
    • Chile
    • Colombia
  • MEA
    • UAE
    • Saudi Arabia
    • South Africa

 

Authors: Preeti Wadhwani , Smriti Loomba

Frequently Asked Questions (FAQ) :

The market size of point of sale software surpassed USD 7 billion in 2022 and is estimated to grow at over n 15% CAGR through 2032 owing to the development of smart payment systems, prevalent consumer inclination toward contactless payments, and supportive government initiatives to promote online transactions.

The cloud deployment model segment captured around 47.5% of the POS software market share in 2022 and is forecast to observe strong growth through 2032 due to its low cost and simple installation.

The COVID-19 outbreak has escalated the need for contactless payment transactions across all businesses, which is driving product demand in the healthcare sector. The healthcare end-use segment is likely to depict more than 18.5% growth rate between 2023 and 2032.

Some of the companies operating in the global POS software industry are Agilysys, Inc., Clover Network, Diebold Nixdorf, Epicor Software Corporation, Ingenico Group, Micros Systems, Inc., Panasonic Corporation, Systems, Samsung Electronics, Co., Ltd., Square, Inc., Toast, Inc., Toshiba Corporation, VeriFone Systems.

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 17
  • Tables & Figures: 473
  • Countries covered: 22
  • Pages: 280

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