Retail Point-of-Sale Terminals Market Size Analysis | 2031

The retail point-of-sale terminals market size is expected to grow at a CAGR of 14.2% from 2023 to 2031. The retail point-of-sale terminals market includes growth prospects owing to the current retail point-of-sale terminals market trends and their foreseeable impact during the forecast period. The retail point-of-sale terminals market is growing due to the growing interest in non-cash transactions and huge growth in the retail industry. Increasing demand for cloud POS systems to provide lucrative opportunities for the retail point-of-sale terminals market growth.

Retail Point-of-Sale Terminals Market Analysis

Retail point-of-sale terminals are devices used by businesses to complete sales transactions with customers. They typically include a cash register, barcode scanners, receipt printer, and sometimes a card reader for credit or debit card payments. The usage of retail POS terminals streamlines the checkout process, allowing businesses to process transactions quickly and efficiently. They also help in managing inventory by automatically updating stock levels with each sale. Additionally, POS terminals can generate detailed sales reports, helping businesses track their performance and make informed decisions. Retail POS terminals are essential tools for businesses looking to streamline operations, improve customer service, and make data-driven decisions.

Retail Point-of-Sale Terminals Market Industry Overview

• The retail point-of-sale terminals market is growing significantly as more businesses are adopting POS systems to improve their operations.
• Customers want POS systems that are easy to use, reliable, and can integrate with other tools they use to run their businesses.
• Some trends in the market include the shift towards cloud-based POS systems, which offer more flexibility and scalability for businesses.

 

Retail Point-of-Sale Terminals Market Driver

Growing Interest in Non-Cash Transactions To Drive The Retail Point-of-Sale Terminals Market

• As more people prefer using cards and digital payments, the demand for Retail POS terminals is rising.
• Non-cash transactions are becoming increasingly popular, with a significant shift away from cash payments. Non-cash transactions, such as credit and debit card payments, mobile wallets, and contactless payments, offer speed, convenience, and enhanced security, which aligns with consumer preferences. Thus, businesses are recognizing the need to accommodate these payment methods, leading to increased adoption of POS systems.
• Retailers are recognizing the importance of offering diverse payment options to meet consumer demands and stay competitive in the market. Hence, investing in modern POS terminals that support non-cash transactions becomes imperative for businesses looking to thrive in the evolving retail landscape.

Retail Point-of-Sale Terminals Market Report Segmentation Analysis

• Based on type, the retail point-of-sale terminals market is segmented into fixed and mobile. The fixed segment is expected to hold a substantial retail point-of-sale terminals market share in 2023.
• The mobile segment is expected to grow with the highest CAGR over the forecast period.

Retail Point-of-Sale Terminals Market Share Analysis By Geography

The scope of the retail point-of-sale terminals market is primarily divided into five regions - North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is experiencing rapid growth and is anticipated to hold a significant retail point-of-sale terminals market share. The Retail POS terminals market in North America is growing significantly owing to factors such as technological advancements, changing consumer preferences, and the increasing adoption of digital payment methods. With a highly developed retail sector and a large consumer base, North America is a key region for POS terminal vendors.

Retail Point-of-Sale Terminals Market Report Scope

The "Retail Point-of-Sale Terminals Market Analysis" was carried out based on type, component, end user and geography. On the basis of type, the market is segmented into fixed and mobile. On the basis of component, the market is segmented into hardware, software, and services. Based on the end user, the market is segmented into supermarkets, grocery stores, specialty stores, convenience stores, and others. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Retail Point-of-Sale Terminals Market News and Recent Developments

Companies adopt inorganic and organic strategies such as mergers and acquisitions in the retail point-of-sale terminals market. A few recent key market developments are listed below:

• In June 2023, Payabl announced the launch of a new point-of-sale (POS) solution specifically designed to bolster the growth of European merchants. The POS solution has been developed in response to the growing trend of omnichannel shopping.

[Source: Payabl, Press Release]

• In January 2023, VMware, Inc., in collaboration with Stratodesk, announced the launch of a new solution-  VMware Retail POS modernization solution to help global retailers modernize point of sale (POS) and unlock more financial value from their POS systems. The new VMware Retail POS modernization solution extends the lifecycle of current POS systems to deliver tangible ROI, reduce security risks, maximize store uptime, and improve the customer experience.

[Source: VMware, Inc, Press Release]

• In October 2022, Unzer announced the launch of a new mobile POS system. The new product POS Go combines a POS system, card reader, printer, and scanner and accepts all common payment methods.

[Source: Unzer, Press Release]

Retail Point-of-Sale Terminals Market Report Coverage & Deliverables

The retail point-of-sale terminals market forecast is estimated based on various secondary and primary research findings, such as key company publications, association data, and databases. The market report "Retail Point-of-Sale Terminals Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering below areas-

• Market size & 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 & SWOT analysis
• Global and regional market analysis covering key market trends, key players, regulations, and recent market developments.
• Industry landscape and competition analysis covering market concentration, heat map analysis, key players, and recent developments.
• Detailed company profiles.

REGIONAL FRAMEWORK

Retail Point-of-Sale Terminals Market Report Analysis

MARKET PLAYERS

Retail Point-of-Sale Terminals Market Report Scope