Published Date: 31-Mar-23
Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
According to a new report, published by KBV research, The Global Point-of-Sale Software Market size is expected to reach $20 billion by 2028, rising at a market growth of 10.6% CAGR during the forecast period.
The Mobile POS segment is showcasing a CAGR of 11.2% during (2022 - 2028). The development of technology has changed how individuals make payments, and the implementation of mPOS ensures quick payments through applications without the system's need for a local network connection. Instead, payments are made using the credit card reader on a phone or tablet with apps installed to manage the scanner and charging mechanism.
The On-Premise segment is leading the Global Point-of-Sale Software Market by Deployment Mode in 2021 thereby, achieving a market value of $11.2 billion by 2028. This is because major businesses use on-premise POS software more frequently than remote POS systems, which run on local servers. Sensitive client data from large companies are exposed to data breaches in large quantities. As a result, the owner of the POS system has more control over the software's on-premises deployment, improving the security of sensitive data.
The SMEs segment has shown the growth rate of 11.7% during (2022 - 2028). Because of its cost and scalability, SMBs are rapidly adopting cloud-based mobile POS software solutions. Moreover, many small and medium-sized enterprises worldwide frequently develop at the municipal or state level and prefer cost-effective POS software solutions based on other business owners' recommendations. Thus, the contribution of SME users to the sector has been crucial in assisting POS software providers in increasing their position in local marketplaces.
The Retail segment acquired maximum revenue share in the Global Point-of-Sale Software Market by End User in 2021 thereby, achieving a market value of $6.5 billion by 2028. With the expansion of e-commerce and multi-channel retailing, the industry is undergoing a rapid transformation and is expected to perform better throughout the projected period. Furthermore, the increased acceptance of new payment solutions by small merchants worldwide has propelled the POS software market in the retail industry.
The North America market dominated the Global Point-of-Sale Software Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $6.7 billion by 2028. The Europe market is exhibiting a CAGR of 9.9% during (2022 - 2028). Additionally, The Asia Pacific market would display a CAGR of 11.5% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/point-of-sale-software-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Fiserv, Inc. (Clover Network, Inc.), Oracle Corporation, Toast, Inc., NCR Corporation, Revel Systems (Welsh, Carson, Anderson & Stowe), MSL Solutions Limited (Pemba Capital Partners), Block, Inc., H&L POS (Valsoft Corporation), Idealpos Solutions Pty Ltd and TouchBistro, Inc.
By Deployment Mode
By Organization Size
By End User
Unique Offerings from KBV Research
North America Point-of-Sale Software Market size & Opportunities 2022-2028
Europe Point-of-Sale Software Market & Growth Forecast 2022-2028
Asia Pacific Point-of-Sale Software Market Share & Industry Outlook to 2028
LAMEA Point-of-Sale Software Market Growth, Trends & Forecasts 2022-2028