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.
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Market Dynamics:
The report offers insightful information about the market dynamics of the Retail Point of Sale market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Retail Point of Sale market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Retail Point of Sale market.
The complete regional analysis covers:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key players in the market include 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.
Emergen Research has segmented the global retail point of sale market on the basis of component, product, end-use, and region:
Component Outlook (Revenue, USD Billion; 2018–2028)
- Hardware
- Software
- Services
Product Outlook (Revenue, USD Billion; 2018–2028)
- Mobile POS Terminals
- Fixed POS Terminals
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Specialty Stores
- Supermarkets/Hypermarkets
- Grocery Stores
- Gas Stations
- Others
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At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.
