Innovations, Cloud Kitchens Driving Growth in POS Systems for the Hospitality Sector

05 October 2023 10:40pm

The global POS Machines market, estimated at $82.7 billion in 2022, is projected to witness significant growth, reaching a size of $151.5 billion by 2030. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 7.9% during the analysis period from 2022 to 2030.

In today's dynamic business landscape, staying informed about industry trends and market dynamics is essential. Within the Point of Sale (POS) machines sector, the global market is experiencing significant growth. To navigate this evolving landscape successfully, the POS Machines Market Research Report serves as a vital resource, providing comprehensive insights into market dynamics, competitive landscapes, challenges, and opportunities.

The report underscores a market poised for robust expansion in key regions, including the United States, China, Japan, Canada, and Germany. It presents in-depth analysis of hardware and software segments. The hardware segment is projected to achieve a strong 6.9% Compound Annual Growth Rate (CAGR), reaching $86.6 billion by the end of the analysis period, while the software segment is estimated to experience robust growth at a 9.8% CAGR over the next eight years.

Key Market Players (Total 157 Featured)

AURES Group
Diebold Nixdorf, Incorporated
Hewlett Packard Enterprise Development LP
Ingenico SA
MiTAC Computing Technology Corporation (MiTAC Group)
Mswipe Technologies Pvt. Ltd.
NCR Corp.
NGX Technologies Pvt. Ltd.
Oracle Corp.
PAX Technologies Pvt Ltd.
Presto Automation Inc.
Qu, Inc.
Revel Systems, Inc.
Toast, Inc.
Toshiba Corp.
TouchBistro, Inc.
VeriFone, Inc.
Worldline S.A.
Xenial, Inc.

Economic Outlook

The global economic outlook is showing signs of improvement, with cautious optimism for the coming years. The United States, despite experiencing slower GDP growth due to tight monetary and financial conditions, has successfully overcome the recession threat. In the Euro area, easing headline inflation is contributing to increased real incomes and economic activity.

China is expected to witness substantial GDP growth as the pandemic threat diminishes, and the government revises its zero-COVID policy. India remains on track to become a trillion-dollar economy by 2030, surpassing Japan and Germany.

However, challenges persist, including uncertainty surrounding the war in Ukraine, slower-than-expected global inflation decline, and ongoing food and fuel inflation in developing nations. High retail inflation continues to impact consumer confidence and spending.

Governments are addressing these challenges, which is boosting market sentiments. As governments work to combat inflation by raising interest rates, new job creation may slow down and impact economic activity. The regulatory landscape is evolving, with increasing pressure to incorporate climate change considerations into economic decisions.

Despite potential challenges to corporate investments due to inflation concerns and weaker demand, the rise of new technologies offers opportunities. Technologies such as generative AI, applied AI, machine learning, next-generation software development, Web3, cloud and edge computing, quantum technologies, electrification, renewables, and climate technologies beyond electrification and renewables have the potential to drive substantial incremental growth and value to global GDP in the coming years.