Point of Sale Market Size

Point of Sale (POS) Market size was valued at USD 28.79 billion in 2023 and is expected to exceed USD 202.73 billion by 2036, registering over 16.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of point of sale is assessed at USD 32.52 billion.

The growth of the market can be attributed to the increasing number of identity thefts and financial frauds across the globe, and rising government initiatives to secure payment transactions since the last few years. According to the Insurance Information Institute, 1.4 million complaints were filed for identity theft in the United States alone, up from 651,000 in 2019. Identity thefts accounted for 29 percent of all the complaints received by the Federal Trade Commission.

Along with these, growing requirement for contactless payment options, and escalating demand tailor-made POS or check out systems across a variety of applications, are also expected to boost market growth in the forthcoming years. Furthermore, rapid growth of e-commerce industry, and surge in deployment if web-based services, especially in small and medium-sized businesses are projected to offer profitable opportunities for market growth in the near future.