Summary
- • The global POS industry is projected to reach a value of $109.3 billion by 2025.
- • The hospitality sector is the largest user of POS systems, with a market share of 35.5% in 2020.
- • Mobile POS transactions are estimated to reach $1.18 trillion in 2021.
- • The market size of the global POS software market is expected to reach $34.77 billion by 2026.
- • In 2019, the retail sector accounted for 34% of POS terminal shipments worldwide.
- • The Asia-Pacific region is expected to have the fastest growth rate in the POS terminal market through 2025.
- • By 2026, the cloud-based POS market is projected to reach a value of $6.64 billion.
- • The adoption of contactless POS terminals is expected to grow by 66.9% from 2020 to 2025.
- • 67% of retailers have implemented mobile POS solutions in their stores.
- • The healthcare sector is expected to witness significant growth in the POS terminal market by 2026.
- • The average spending on POS software by small businesses is $1,250 annually.
- • The market for tablet POS systems is projected to reach $4.25 billion by 2026.
- • The food and beverage industry accounts for 20% of POS terminal shipments globally.
- • The adoption rate of self-service kiosks in retail is expected to grow by 30% by 2025.
- • Vendors are focusing on offering integrated POS solutions, leading to a 9% growth in the POS software market by 2026.
Hold onto your receipts, because the POS industry is on a wild ride! With the global POS market projected to hit a staggering $109.3 billion by 2025, its clear that point-of-sale systems are more than just a way to ring up your morning latte. From the hospitality sector dominating with a 35.5% market share to the meteoric rise of mobile POS transactions estimated to reach $1.18 trillion in 2021, these stats showcase the industrys explosive growth. So, whether youre tapping away at a contactless terminal or eyeing that sleek tablet POS system, get ready for a whirlwind tour of the POS landscape thats anything but business as usual.
Adoption rates and trends for new technologies in the POS industry
- The adoption of contactless POS terminals is expected to grow by 66.9% from 2020 to 2025.
- 67% of retailers have implemented mobile POS solutions in their stores.
- The adoption rate of self-service kiosks in retail is expected to grow by 30% by 2025.
- Retailers using cloud-based POS solutions report an average increase in sales of 20%.
- 57% of consumers prefer to use contactless payments at POS terminals.
- The adoption of cloud POS systems is projected to increase by 20% in the next five years.
- The penetration rate of POS systems in the retail sector is expected to reach 90% by 2024.
- 82% of retailers plan to upgrade their POS systems in the next two years.
- The adoption of NFC-enabled POS terminals is expected to increase by 22% by 2025.
- The penetration rate of mobile POS devices is expected to reach 42% in the United States by 2024.
- The adoption of biometric POS solutions is expected to increase by 15% by 2025.
- 40% of small businesses plan to invest in POS technology within the next year.
- The penetration rate of POS systems in the healthcare sector is expected to reach 60% by 2024.
Interpretation
The numbers don't lie, and in the dynamic world of POS industry statistics, it seems the only way is up. From the rapid embrace of contactless terminals to the soaring popularity of mobile POS solutions, retailers are steering their ships towards a bright and technologically advanced future. With self-service kiosks, cloud-based systems, and NFC-enabled terminals on the rise, coupled with the promising sales boost reported by cloud users, it's clear that innovation is not just an option but a necessity. So, buckle up as the POS revolution unfolds, because in this game of digits and devices, staying ahead is the name of the game.
Global POS Industry Projections:
- Mobile POS transactions are estimated to reach $1.18 trillion in 2021.
- Vendors are focusing on offering integrated POS solutions, leading to a 9% growth in the POS software market by 2026.
Interpretation
In the fast-paced world of payment technology, it seems the only way to go is up – up to the tune of $1.18 trillion in mobile POS transactions by 2021, that is. With vendors now honing their focus on integrated POS solutions, it's no wonder the POS software market is set to grow by 9% come 2026. Looks like cash might soon be taking a back seat, while convenience and innovation ride shotgun in the ever-evolving realm of point-of-sale systems.
Market share and penetration rates of different types of POS solutions
- The hospitality sector is the largest user of POS systems, with a market share of 35.5% in 2020.
- In 2019, the retail sector accounted for 34% of POS terminal shipments worldwide.
- The food and beverage industry accounts for 20% of POS terminal shipments globally.
- In 2020, the restaurant industry accounted for 27% of POS terminal shipments globally.
- Out of all retail transactions in Europe, 78% are completed using a POS terminal.
Interpretation
In the thrilling world of Point of Sale (POS) systems, it seems the hospitality sector is leading the charge, flexing its digital muscles with a hefty 35.5% market share in 2020. Meanwhile, the retail sector in 2019 was snapping at its heels with a respectable 34% of POS terminal shipments. Let's not forget our foodie friends, as the food and beverage industry claimed a tasty 20% slice of the global POS terminal shipments pie. In another twist, the restaurant industry cooked up a solid 27% share in 2020. In Europe, where the retail game is strong, 78% of transactions are sealed with the classic beep of a trusty POS terminal. It's a digital dance where every sector wants to lead, but there's always room for bubbly growth and innovation.
Market size and growth projections for the global POS industry
- The global POS industry is projected to reach a value of $109.3 billion by 2025.
- The market size of the global POS software market is expected to reach $34.77 billion by 2026.
- By 2026, the cloud-based POS market is projected to reach a value of $6.64 billion.
- The average spending on POS software by small businesses is $1,250 annually.
- The market for tablet POS systems is projected to reach $4.25 billion by 2026.
- The hardware segment of the POS terminal market is forecasted to be worth $7.6 billion by 2026.
- In 2020, the average annual growth rate of POS terminals in the US was 7.5%.
- The global mobile POS market is expected to grow at a CAGR of 18% from 2021 to 2026.
- The POS terminal market in North America is expected to grow at a CAGR of 11.5% from 2021 to 2028.
- The global mPOS market is estimated to reach $55.1 billion by 2026.
- The POS software market is projected to witness a CAGR of 11.8% from 2021 to 2028.
- The global mobile POS market is anticipated to grow at a rate of 9.8% from 2021 to 2028.
- The global market for POS hardware is projected to exceed $30 billion by 2026.
- The market for Android POS devices is estimated to grow at a CAGR of 6.1% from 2021 to 2028.
- The market for handheld POS terminals is projected to grow by 8% annually through 2026.
- The Asia-Pacific POS terminal market is anticipated to grow at a CAGR of 12% from 2021 to 2028.
- The global market for POS peripherals is expected to reach $8.4 billion by 2026.
- The market for contactless payments at POS terminals is estimated to grow by 25% annually through 2025.
Interpretation
The world of POS is clearly on the move, with numbers that are not just digits but signposts to the future of commerce. From the skyrocketing values of the global POS industry to the buoyant projections for cloud-based solutions and mobile innovations, it's evident that Point of Sale technology is not just a back-office support system but a thriving ecosystem in its own right. As small businesses flex their financial muscles with an average annual spend on POS software, and the hardware segment steels itself for a hefty future value, the stage is set for a performance that blends cutting-edge technology with pragmatic business sensibilities. As the tale of terminals, tablets, and peripherals unfolds, one thing is crystal clear – in the symphony of sales and transactions, the POS industry is composing a harmonious crescendo that resonates not just in North America but across the globe.
Projections for specific regions or sectors within the global POS market
- The Asia-Pacific region is expected to have the fastest growth rate in the POS terminal market through 2025.
- The healthcare sector is expected to witness significant growth in the POS terminal market by 2026.
Interpretation
In a world where even our cash registers are getting smarter, it seems the Asia-Pacific region is poised to become the brainiac of the POS terminal market, with growth rates that put the rest of the world to shame. And if you thought doctors couldn't get any more efficient, think again, as the healthcare sector gears up to revolutionize its operations with POS technology. Looks like swipe left will soon be replaced with swipe card—even in the doctor's office. Welcome to the age of smart transactions.
