Point of Sale (POS) Software Market Share, Size Report 2023-2028 | Growth, Trends, Global Analysis And Forecast

The global POS software market size reached US$ 10.9 Billion in 2022. By 2028, It will reach US$ 18.5 Billion, exhibiting a CAGR of 8.4% during 2023-2028.

BROOKLYN, NEW YORK, UNITED STATES, February 14, 2023 /EINPresswire.com/ -- According to the latest report by IMARC Group, title “POS Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, the global Point of Sale (POS) software market size reached US$ 10.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 18.5 Billion by 2028, exhibiting a growth rate (CAGR) of 8.4% during 2023-2028.

POS Software Industry Outlook:

POS or point-of-sale software enables businesses and merchants to manage store operations and perform online retail transactions. It assists in handling inventory, searching for products, supervising sales, accepting payments, scanning consumer goods information faster, tracking taxes, analyzing and representing sales reports to provide accurate business insights, etc. This, in turn, aid enterprises in offering a better customer experience, ensuring quicker payments, maintaining price consistency, simplifying business operations, optimizing workflow, etc. Presently, POS software is commonly available in fixed and mobile solution types.

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Market Trends:

The inflating need for efficient in-store or electronic payment facilities to ensure safe, flexible, and accurate money management while eliminating human errors is primarily driving the POS software market. Additionally, the widespread adoption of e-wallets for storing debit and credit card information to provide flexibility and convenience to the user during online transactions is further catalyzing the market growth. Besides this, the escalating demand for contactless payment options, on account of the sudden outbreak of the COVID-19 pandemic, is acting as another significant growth-inducing factor.

Moreover, the easy availability of high-speed internet connectivity and the emerging trend of digitalization are also positively influencing the global market. Apart from this, the growing integration of cloud computing and customer relationship management (CRM) solutions that help in collecting data, tracking consumer behavior, increasing business revenue, etc., is anticipated to fuel the POS software market over the forecasted period.

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Key Market Segmentation:

The report has been segmented the market into following categories:

Breakup by Component:
• Software
• Service

Breakup by Type:
• Fixed POS
• Mobile POS

Breakup by Deployment Mode:
• Cloud-based
• On-premises

Breakup by Organization Size:
• Large Enterprises
• Small and Medium-sized Enterprises

Breakup by Application:
• Inventory Tracking
• Sales Reporting
• Purchasing Management
• Customer Engagement
• Others

Breakup by End User:
• Restaurants
• Hospitality
• Healthcare
• Retail
• Warehouse
• Entertainment
• Others

Breakup by Geography:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

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List of Key Companies Covered in this Market Report:

The major players in the market are Block Inc., Clover Network LLC (Fiserv Inc.), HP Development Company L.P., Idealpos Solutions Pty Ltd, Intel Corporation, Microsoft Corporation, NCR Corporation, Panasonic Canada Inc (Panasonic Holdings Corporation), Revel Systems Inc., SwiftPOS (MSL Solutions), Toast Inc., Toshiba Corporation and Vend Limited (Lightspeed).

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About IMARC Group:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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