Point-of-Sale Software Market to be Worth $27.71 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, March 29, 2023 /PRNewswire/ -- The global point-of-sale software market size is expected to reach USD 27.71 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 10.8% over the forecast period. The industry is expected to witness substantial growth owing to the need for compatible software for POS system functioning. The point of sale (POS) software facilitates various functions, such as inventory management, authorizing cards payment, collecting signatures and e-mail receipts, and managing employees and other business operations to minimize human intervention and ensure the smooth running of all business processes. The POS software is mostly used across different end-user industries for processing payments, bookkeeping, invoicing, tracking orders, and other functions.

Key Industry Insights & Findings from the report:

• The global industry accounted for the largest share in 2022 due to increasing demand for payment and operation management solutions in restaurants, retail, and travel industry among others.
• The on-premises segment held the largest revenue share in 2022 on account of the higher demand for on-premise deployment due to concerns over data security, as crucial customer data can be vulnerable to cyber-attack when exposed to third-party or unknown sources.
• The mobile POS segment is anticipated to witness the highest CAGR over the forecast period. The demand for mobile-based POS systems in restaurants and retail for quick payment and portability is boosting the mPOS growth.

Read full market research report, "Point-of-Sale Software Market Size, Share & Trends Analysis Report By Application (Fixed, Mobile), By Deployment Mode (On-premise, Cloud), By Organization Size (Large, SME), By End-user, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

 Point-of-Sale Software Market Growth & Trends

However, the POS software functionality may significantly vary depending upon the end-user industry requirement. For instance, the restaurant POS software requires specific features, such as order, inventory, table management, employee scheduling, and others, to meet the needs of different restaurant types; which is not needed in retail or healthcare POS software. Hence, the increasing demand for customized POS software in restaurants, retail, hospitality, healthcare, entertainment business, and other industries is expected to boost the market over the forecast period. The POS software for a fixed POS terminal has been used for decades and is trusted across all large business sectors due to its ability to provide robust business functions and management of inventory, loyalty programs & gift cards, credit/debit card payment, employee attendance, and cash drawer for large enterprises.

While small and medium enterprises have largely opted for mobile POS software owing to its convenience in business to allow credit or debit card payments virtually as well as at any location. The POS software system has become an integral part of the small- and medium-scale business environment to process sales securely, carry out administrative tasks as well as provide seamless customers. The substantial growth of this segment is attributed due to the increasing adoption of cloud-based mobile POS solutions by the small business having software packages, such as payment processing, customer, and inventory management payroll and accounting, and others to manage their day-to-day business operations.

For instance, in Jan 2023 Markt POS launched its first all-in-one cloud-based point-of-sale solution, which is expected to meet the requirements of small and medium grocery shops. Markt POS delivers all essential functionalities, such as inventory management systems, innovative self-service, AI-powered business details, and enterprise checkout required by grocery stores. Asia Pacific is expected to grow at the highest CAGR over the forecast period due to the growing demand for POS systems with advanced software features in end-user areas including retail, restaurant, and others in countries, such as China and India. Key players in the industry focus on offering updated and customized software solutions as per end-user requirements.

Point-of-Sale Software Market Segmentation

Grand View Research has segmented the global point-of-sale software market on the basis of application, deployment mode, organization size, end-user, and region:

Point-of-Sale (POS) Software Market - Application Outlook (Revenue, USD Million, 2018 - 2030)

• Fixed POS
• Mobile POS

Point-of-Sale (POS) Software Market - Deployment Mode Outlook (Revenue, USD Million, 2018 - 2030)

• Cloud
• On Premise

Point-of-Sale (POS) Software Market - Organization Size Outlook (Revenue, USD Million, 2018 - 2030)

• Large Enterprise
• Small & Medium Enterprise (SME)

Point-of-Sale (POS) Software Market - End-user Outlook (Revenue, USD Million, 2018 - 2030)

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

Point-of-Sale (POS) Software Market - Regional Outlook (Revenue, USD Million 2018 - 2030)

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Latin America
• Brazil
• Mexico
• Argentina
• MEA
• UAE
• Saudi Arabia
• South Africa

List of Key Players of Point-of-Sale Software Market

• Clover Network, Inc.
• H&L POS
• IdealPOS
• Lightspeed
• NCR Corp.
• Oracle Micros
• Revel Systems
• SwiftPOS
• Square Inc.
• TouchBistro Toast Inc.

Check out more related studies published by Grand View Research:

• Mobile POS Terminals Market - The global mobile POS terminals market size is expected to reach USD 85.11 billion by 2030, expanding at a CAGR of 11.1% from 2023 to 2030 according to a new study by Grand View Research, Inc. Mobile POS terminals have evolved from basic payment processing tools to advanced analytics solution providers with greater processing capability and wireless communication support. The inflection of these terminals came with the adoption of consumer-grade devices such as tablets for business use. Ubiquitous wireless connectivity such as Bluetooth, availability of mobile printers, scanners, card readers, and peripheral devices; and multiple platform support have driven the mobile POS terminals market in various applications.
• Social Commerce Market - The global social commerce market size is anticipated to reach USD 6,243.94 billion by 2030, and it is set to expand at 31.6% CAGR from 2023 to 2030, according to a new study by Grand View Research Inc. Growing ease of online purchases is considered the most significant factor driving social commerce demand. Combining entertainment with impulsive purchasing habits continues to drive social commerce. It provides brands, and retailers with a new medium, which holds enormous potential for value generation.
• E-commerce Fulfillment Services Market - The global e-commerce fulfillment services market size is anticipated to reach USD 272.14 billion by 2030, growing at a CAGR of 13.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. The rapid penetration of internet services and a resultant rise in the number of online shoppers is the major factor driving the demand for e-commerce fulfillment services worldwide. Consumer expectations with regards to delivery time, shipping speed, and associated costs are changing rapidly. As per the GVR analysis, the major reason for consumers abandoning online shopping carts include delayed shipping. Therefore, established merchants, such as Amazon.com, Inc., have started delivering orders in the shortest turnaround time, in some cases within an hour across large cities.

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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