POS Software Market Trends and Forecast to 2031
The POS Software Market size is projected to reach US$ 31.15 billion by 2031 from US$ 14.75 billion in 2023. The market is expected to register a CAGR of 9.8% from 2023 to 2031. The increasing usage of cloud computing services is likely to remain a key POS Software Market trend.
POS Software Market Analysis
The necessity of conducting cashless transactions, tracking sales and inventory data, and leveraging analytics to optimize sales strategy across retail chains, restaurants, hotels, drug stores, auto shops, and other places has driven the demand for point of sale (POS) software. The usage of POS software is anticipated to increase across a variety of industries due to rising demand for advanced capabilities including customer data management, inventory tracking, sales monitoring, employee management analytics, and reporting. Furthermore, the rising demand for cloud-based mobile point of sale software might be attributed to the growing acceptance of cloud-based solutions.
POS Software Market Overview
Point-of-sale (POS) software is a specialized application that businesses use to conduct transactions at the point of sale, typically in retail settings. By keeping track of sales, controlling inventory, and handling payments, it expedites the checkout process. To guarantee accuracy, point-of-sale software frequently interfaces with hardware such as barcode scanners, cash registers, and card readers. Additionally, it has tools for handling customer information, creating sales reports, and evaluating.
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POS Software Market: Strategic Insights
POS Software Market
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CAGR (2023 - 2031)
9.8%
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Market Size 2023
US$ 14.75 billion
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Market Size 2031
US$ 31.15 billion
Market Dynamics
GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players
- Infor Inc
- Intuit Inc
- Lightspeed
- Oracle Corporation
- Clover Network LLC
- NCR Corporation
- Salesforce Inc
- Revel Systems
- Smart POS Software
- TouchBistro Inc
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Component
- Software and Services
Deployment Type
- On-Premise and Cloud
Application
- Inventory Tracking
- Purchasing Management
- Sales Reporting
- Customer Engagement
End User
- Retail
- Hospitality
- Media and Entertainment
- Healthcare
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
POS Software Market: Strategic Insights
-
CAGR (2023 - 2031)9.8% -
Market Size 2023
US$ 14.75 billion -
Market Size 2031
US$ 31.15 billion
Market Dynamics
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- XXXXXXX
- XXXXXXX
- XXXXXXX
- XXXXXXX
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Key Players
- Infor Inc
- Intuit Inc
- Lightspeed
- Oracle Corporation
- Clover Network LLC
- NCR Corporation
- Salesforce Inc
- Revel Systems
- Smart POS Software
- TouchBistro Inc
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
- Software and Services
- On-Premise and Cloud
- Inventory Tracking
- Purchasing Management
- Sales Reporting
- Customer Engagement
- Retail
- Hospitality
- Media and Entertainment
- Healthcare
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
POS Software Market Drivers and Opportunities
Growing E-Commerce Industry
With the increasing prevalence of online and omnichannel shopping, businesses require point-of-sale (POS) software capable of seamlessly connecting their offline and online sales channels. This drives the demand for point-of-sale (POS) systems that include functions like inventory control, order fulfillment, and customer relationship management (CRM), which is fueling the growth of the POS software market.
Rising demand for Business Intelligence and Data Analytics
Point-of-sale (POS) software is becoming an increasingly popular tool used by businesses to gather and examine data regarding sales, customer behavior, inventory, and employee performance. Sophisticated analytics and reporting technologies can help businesses make data-driven decisions, increase customer happiness, and reduce procedures. Thus, such benefits of POS software is expected to propel the market growth in the forecasted period.
POS Software Market Report Segmentation Analysis
Key segments that contributed to the derivation of the POS software market analysis are component (software and services); deployment type (on-premise and cloud); application, and end user
- Based on component, the POS software market is bifurcated into software and services. The software segment held a larger market share in 2023.
- Based on deployment type, the market is bifurcated into on-premise and cloud. The on-premise segment held a larger market share in 2023.
- Based on application, the market is segmented into inventory tracking, purchasing management, sales reporting, customer engagement, and others. The inventory tracking segment held a larger market share in 2023.
- By end user, the market is segmented into retail, hospitality, media and entertainment, healthcare, and others. The retail segment held the largest share of the market in 2023.
POS Software Market Share Analysis by Geography
The geographic scope of the POS Software Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
In terms of revenue, North America accounted for the largest POS Software Market share. The market in this region is segmented into the US, Canada, and Mexico. The region has a number of well-known POS software manufacturers, as well as a high demand for complex integrated POS software. In addition, the retail industry is witnessing tremendous growth in the region, fueling the growth of the market. Furthermore, the US healthcare industry is expected to grow at the fastest rate due to the necessity of upgrading hospital facilities related to insurance, payment, and patient management..
POS Software Market News and Recent Developments
The POS Software Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for speech and language disorders and strategies:
- U.S. Bank , an industry leader in payment services, announced the launch of Avvance, an embedded, multi-channel point of sale lending solution. Avvance empowers businesses with the ability to offer consumer financing during checkout with a quick application and instant decisioning. (Source: Elavon Inc., Press Release, 2023)
- NCR Corporation has unveiled NCR Aloha Cloud, a cloud-based point of sale (POS) solution that provides capabilities robust enough to come to market under the industry-leading Aloha brand. Aloha Cloud delivers a refreshed user interface (UI), the smallest handheld device on the market and seamless payment processing with next-day funding of deposits, giving operators more time to focus on running their restaurant. (Press Release, 2022)
POS Software Market Report Scope
Report Attribute
Details
Market size in 2023
US$ 14.75 billion
Market Size by 2031
US$ 31.15 billion
Global CAGR (2023 - 2031)
9.8%
Historical Data
2021-2022
Forecast period
2023-2031
Segments Covered
By Component - Software and Services
By Deployment Type - On-Premise and Cloud
By Application - Inventory Tracking
- Purchasing Management
- Sales Reporting
- Customer Engagement
By End User - Retail
- Hospitality
- Media and Entertainment
- Healthcare
Regions and Countries Covered
North America - US
- Canada
- Mexico
Europe - UK
- Germany
- France
- Russia
- Italy
- Rest of Europe
Asia-Pacific - China
- India
- Japan
- Australia
- Rest of Asia-Pacific
South and Central America - Brazil
- Argentina
- Rest of South and Central America
Middle East and Africa - South Africa
- Saudi Arabia
- UAE
- Rest of Middle East and Africa
Market leaders and key company profiles
- Infor Inc
- Intuit Inc
- Lightspeed
- Oracle Corporation
- Clover Network LLC
- NCR Corporation
- Salesforce Inc
- Revel Systems
- Smart POS Software
- TouchBistro Inc
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Attribute | Details |
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Market size in 2023 | US$ 14.75 billion |
Market Size by 2031 | US$ 31.15 billion |
Global CAGR (2023 - 2031) | 9.8% |
Historical Data | 2021-2022 |
Forecast period | 2023-2031 |
Segments Covered |
By Component
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Regions and Countries Covered | North America
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Market leaders and key company profiles |
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
POS Software Market Report Coverage and Deliverables
The “POS Software Market Size and Forecast (2023–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Component ; Deployment Type ; Application ; End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Frequently Asked Questions
Increasing usage of cloud computing services is anticipated to play a significant role in the global POS Software Market in the coming years.
The global POS Software Market was estimated to be US$ 14.75 billion in 2023 and is expected to grow at a CAGR of 9.8% during the forecast period 2023 - 2031.
Growing e-commerce industry is the major factors that propel the global POS Software Market.
The global POS Software Market is expected to reach US$ 31.15 billion by 2031.
The key players holding majority shares in the global POS Software Market are Infor Inc, Intuit, Inc., Lightspeed, Oracle Corporation, Clover Network, LLC, NCR Corporation, Salesforce, Inc., Revel Systems, Smart POS Software, and TouchBistro Inc.
- Infor Inc
- Intuit, Inc.
- Lightspeed
- Oracle Corporation
- Clover Network, LLC
- NCR Corporation
- Salesforce, Inc.
- Revel Systems
- Smart POS Software
- TouchBistro Inc.