US Point-Of-Sale Systems Market Size
The size of the United States point-of-sale (POS) software market was $1.81 billion in 2018. Globally, the market is expected to grow at 11% CAGR between 2019 and 2025. The growth will be led by increased adoption of cashless and online payment modes enabled by the evolution of NFC (Near Field Communication).
- The size of the United States POS software market was $1.81 billion in 2018.
- The size of the United States POS services market was $5.49 billion in 2018
- The size of the United States POS hardware market was $7.73 billion in 2018
- The United States POS terminal market, which includes software, services, and hardware, was valued at $15.04 billion in 2018.
- The size of the United States POS software market was projected to be $2.2 billion in 2019.
- According to Transparency Research, the POS terminal market in North America was valued at $17.07 billion in 2017.
- According to Grand View Research, the size of the POS terminal market in the United States was $12.44 billion in 2016.
- The global POS software market is expected to grow at a CAGR of 11% in the 2019-25 period. The growth will result from advancements in cloud computing and increased adoption of debit and credit cards.
- Consumers are also shifting from traditional modes of payments to online payments. The development of NFC (near field communication) is increasing the adoption of the technology at POS. However, the complexity and cost involved in upgrading the POS software are hindering rapid adoption.
The market size of the software services market provided by Statista is $1.81 billion in 2018. We used data from two other research agencies to validate it.
The size of the US POS terminal market = The size of the US POS software market + The size of the US POS services market + The size of the US POS hardware market = $1.81B + $5.49B + $7.72B = $15.04B
Grand View Research estimated the size of the US POS terminal market to be $12.44 billion in 2016. According to Statista, the size of the US POS terminal market in 2016 was $12.44 billion ($4.32B+$1.49B+$6.63B). The two estimates match--most likely Statista published data provided by Grand View Research.
Transparency Research estimated that the size of the North American POS market was $17.07 billion in 2017. According to Statista, the size of the POS terminal market in 2017 was $13.7 billion ($7.1B+$1.73B+$4.87) in 2017. Therefore, the United States market represents 80% ($13.7B/$17.07B) of the North American market.
Retail sales in North America amount to over $5 trillion, with most of it coming from the United States ($3.8 trillion). The United States represents roughly 76% ($3.8T/$5T) of sales in North America. As there is unlikely to be a great divergence between the United States' share of total retail sales in North America and United States' share of POS terminal sales in North America, Transparency Research's estimate further validates the accuracy of data published by Statista.