Dallas, Texas, Oct. 21, 2022 (GLOBE NEWSWIRE) -- Digital payments have increased in popularity over time as a result of rising internet and smartphone usage. Along with technology, the global retail point-of-sale market is developing. Businesses may now choose a model that gives the features and functionality they require because there are a variety of models available. Likewise, there are now a lot of providers ready to match demand because of their rising popularity. Government initiatives to promote digital payment systems are fueling the growth of the global retail POS market.
The global retail point-of-sale market is anticipated to grow to USD 42.81 billion by 2028, with a CAGR of 12.6% over the forecast period.
The development of self-checkout services, especially in industrialized nations, is another factor driving the demand for retail POS. On the other hand, security risks can prohibit the company from growing. The rising customer preference for cashless transactions is the main factor driving the global retail point of sale industry.
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Global retail point-of-sale market market scope:
| Metrics | Details |
| Study Period | 2018-2028 |
| Market Size in 2028 | USD 42.81 billion |
| Segment Covered | Type, Component, Deployment, End-User, Regions |
| by Type Covered | Fixed PoS, Mobile PoS |
| Component Covered | Software, Services, Hardware |
| Regions Covered | North America, Europe, Asia Pacific, Middle East, and Africa and South America |
| Key Players Profiled | SAP SE, Oracle Corporation, Epicor Software Corporation, Microsoft Corporation, and Infor Global Solutions |
Because a POS system expedites decision-making, saves time, and boosts shop profitability, small businesses are becoming more and more interested in POS systems for retail. Therefore, it is projected that throughout the course of the projection period, the retail POS market will expand at a faster pace. The flaws in software and networks, as well as phishing and skimming, which allow hackers to easily steal vital information such customer credit card information and company account information. This will restrain the growth of the market.
As POS systems are inexpensive and simple to use via the internet, small and medium-sized merchants are keen to install them. This is predicted to fuel the retail POS market's expansion over the course of the forecast year.
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The mobile retail POS terminals segment is anticipated to exhibit substantial growth trends during the anticipated period and reach a sizeable valuation by 2030, based on the products it sells. mPOS have become a popular and cost-effective replacement for traditional POS because they enable small business owners to conduct a variety of transactions without being restricted to a single location, needing any software support, or using an electronic register. The market growth for retail POS will be aided by the continual quick product deployment in mobile enterprises such industry vendors, flea markets, and food trucks, along with increased efforts to shorten checkout and service lines.
The Asia-Pacific region is predicted to have the highest growth rate during the projection period. The retail point of sale market is expected to increase in this region as a result of the greatly expanding client base brought on by the prominence of SMEs and the declining TCO. The advantages that retail POS systems have, such as shorter wait times, more security, the possibility of paperless receipts, reduced demand for check-out area, and expanding floor space, will allow the Asia-Pacific region's retail POS industry to expand.
Zebra and Katapult, the top supplier of eCommerce point-of-sale lease-purchase solutions for non-prime US consumers, collaborated in February 2021. As part of this partnership, Katapult offers retailers in the durable goods sector access to its lease-purchase solution, which integrates seamlessly with online platforms. With Zebra, a retailer of electronic transportation, Katapult offers a checkout alternative.
Important points from the Table of Contents:
1. Introduction
2. Research Methodology
3. Market Outlook
4. Retail Point of Sale Market by Type Overview, 2019-2029 (USD Billion)
5. Retail Point of Sale Market by Component Overview, 2019-2029 (USD Billion)
6. Retail Point of Sale Market by Deployment Overview, 2019-2029 (USD Billion)
7. Retail Point of Sale Market by End-User Overview, 2019-2029 (USD Billion)
8. Retail Point of Sale Market by Regional Overview, 2019-2029 (USD Billion)
North America
• U.S
• Canada
Europe
• Germany
• France
• UK
• The rest of Europe
Asia Pacific
• China
• India
• Japan
• Asia-Pacific as a whole
South America
• Mexico
• Brazil
• South America's remaining countries
Middle East and South Africa
9. Company Profiles
10. Appendix
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