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Retail Point of Sale Market to Reach $18.34 Billion by 2030: Cognitive Market Research

Retail Point of Sale Market to Reach $18.34 Billion by 2030: Cognitive Market Research
PR Newswire
CHICAGO, Jan. 31, 2023

CHICAGO, Jan. 31, 2023 /PRNewswire/ — The Global Retail Point of Sale (POS) Market size is projected to be USD 18.34 Billion …



Retail Point of Sale Market to Reach $18.34 Billion by 2030: Cognitive Market Research

PR Newswire

CHICAGO, Jan. 31, 2023 /PRNewswire/ -- The Global Retail Point of Sale (POS) Market size is projected to be USD 18.34 Billion by 2030 at a CAGR of 10.2 % from 2023-2030, as per recent report by Cognitive Market Research. VMware, Inc. has recently launched a new solution to help global retailers modernize their point of sale which will boost growth of the market.

Major findings during the study of the Retail Point of Sale (POS) Market:

  • Increasing need for superior features such as inventory tracking, staff management analytics, sales monitoring, customer data management, and reporting is the main factor driving the global retail point of sale (PoS) industry.
  • Increasing popularity of cloud-based solutions has increased demand for cloud-based Point-Of-Sale Software, propelling the expansion of the retail point of sale.
  • Furthermore, the requirement to conduct a cashless transaction, keep track of sales and inventory reports, and develop sales strategy using analytics across retail chains, restaurants, and others, etc., is spurring the demand for the retail point of sale market.
  • Among the component segments, the hardware segments are projected to account for higher revenue shares in the global retail point of sale market. This is attributed to the growing installation of POS systems hardware in retail.
  • Based on Type, the market is divided into a fixed point of sale and a mobile point of sale . The fixed POS segment is expected to hold the largest market share as it offers more features and functionality. The fixed POS system resembles the traditional form of payment technology, and it has been the most recognized, accepted, and reliable way to process payments by cash, credit, and debit cards.
  • Based on Deployment, the market is bifurcated into on-premise and cloud-based. The cloud-based segment is expected to account for the largest market share. The increasing demand for cloud-based systems is accelerating the segment's growth, providing numerous additional benefits such as on-demand services and flexibility.
  • Among the End-ser segments, the grocery stores segment is projected to maintain dominance in terms of revenue share over the supermarket and hypermarket segment over the forecast period.


Global Retail Point of Sale Market


Global Revenue (USD Billion)


CAGR – (2022-2029)

10.2 %

Key Component Share


Key Type Share

Fixed Point of Sale Terminals: 61.74%

Key Deployment Share

Cloud: 58.74%

Key End-User Share

Grocery Stores: 31.43%

Key Regional Share

North America:38.11%


Read Full Report with Table of Contents:

Retail Point of Sale Market Growth and Trends

Growing demand for smart technologies in various industries is one of the factors expected to drive the global market growth. The rising adoption of cloud-based POS in supermarket, hypermarket, and grocery stores are expected to drive the growth of the retail POS market. The increasing adoption of cashless transactions for better money management is expected to augment growth over the forecast period. VMware, Inc. has introduced a new solution to help global retailers modernize their POS and unlock more financial value from their POS systems. New VMware Retail POS Modernization Solution, developed in collaboration with VMware Retail ISV partner Stratodesk, extends the lifecycle of current POS systems to deliver tangible ROI, reduce security risks, maximize store uptime, and improve the customer experience. With the VMware Retail POS Modernization Solution, store operators, large and small, can minimally modernize their customer-facing POS while taking on technical debt.

Current Development of Manufacturers in the Retail POS Market:

  • January 2022:

NCR Corporation partnered with Google Cloud

NCR Corporation partners with Google Cloud to bring additional platforms and cloud capabilities. The partnership allows users to run NCR's retail PoS software on the Google Cloud Platform. This partnership enables retailers to control modern cloud infrastructure, combined with valuable insights into their software.

  • April 2022:

PAX launches M8 Android PayTablet - PAX Global Technology

PAX Global Technology Limited launches its Android PayTablet, M8, with a fully integrated smart PoS payment processing system. The device is designed for hotel operators and high-end retailers, where online orders, in-store checkouts, and VAT refunds can run in parallel with accepting payments.

Read Full Report with Table of Contents:

The COVID-19 pandemic has negatively impacted the market owing to government restrictions, mandated closures, and retail store closures in several countries. Consumer spending has also plummeted during the pandemic. The PoS hardware supply chain has been disrupted for some time due to lockdown measures and the closure of imports and exports. These directly affected the global manufacturing facilities of the point-of-sale terminals. Reliance on online business has increased significantly due to the COVID-19 pandemic. The retail industry is using the internet to provide essential services to consumers.

Retail Point of Sale Market Report Scope

  • By Component
    • Hardware
    • Software
    • Service
  • By Type
    • Fixed Point of Sale Terminals
    • Mobile Point of Sale Terminals
  • By Deployment
    • On-Premise
    • Cloud-based
  • By End User
    • Supermarket and Hypermarket
    • Grocery Stores
    • Specialty Stores
    • Convenience Stores
    • Others
  • By Regions:
    • North America (U.S., Canada, Mexico)
    • Europe (Germany, France, UK, Italy, Spain, Russia, Rest of Europe)
    • Asia Pacific (China, Japan, India, South Korea, Australia, Southeast Asia, Rest of APAC)
    • Latin America (Brazil, Argentina, Columbia, Rest of Latin America)
    • Middle East & Africa (GCC, Saudi Arabia, Turkey, Egypt, rest of MEA)
  • List Of Key Companies
    • Diebold Nixdorf
    • PAX technology
    • NCR Corporation
    • Shopify Inc.
    • Ingenico Inc
    • Elavon Inc.
    • Clover Network
    • Epicor software corporation
    • Cegid Group
    • Revel System

Related Reports to Retail Point of Sale (POS) Market:

Global cloud (PoS) market is expected to reach USD 18.45 billion by 2030 growing at a CAGR of 23.65%. The rising use of digital platforms is considered among the crucial driving factors of the Cloud Point of Sale Market. As a result, the rise in the use of digital platforms for payments and money transfers is increasing at a rapid speed. Also, the cloud point of sales improves flexibility and mobility with help for safe and fast transactions.

The global restaurant (PoS) terminal market is projected to reach USD 42.6 billion by 2030, growing at CAGR of 11.65%. The increasing adoption of POS systems by restaurants for smoother business operations is expected to drive the growth of the global market. In addition, restaurant POS enables transactions and provides a convenient and hassle-free payment experience for the customer, which drives the development of the global market to certain extent.

Other Related Reports:

  • Global Mobile Point Of Sale  market is estimated to reach USD 421.67 billion by 2030, growing at an impressive CAGR of 32.65%.
  • Global Point Of Sale Software market size was valued at USD 39.26 billion by 2030 and is expected to CAGR of 9.5%.

Explore Other Cognitive Market Research's  Service & Software Industry Report

About Cognitive Market Research Company:

Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operational across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.

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How to Contact Us:

Nicolas Shaw
Global Sales Manager
Cognitive Market Research
Phone: +1 312-376-8303
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Shipping company files surprise Chapter 7 bankruptcy, liquidation

While demand for trucking has increased, so have costs and competition, which have forced a number of players to close.



The U.S. economy is built on trucks.

As a nation we have relatively limited train assets, and while in recent years planes have played an expanded role in moving goods, trucks still represent the backbone of how everything — food, gasoline, commodities, and pretty much anything else — moves around the country.

Related: Fast-food chain closes more stores after Chapter 11 bankruptcy

"Trucks moved 61.1% of the tonnage and 64.9% of the value of these shipments. The average shipment by truck was 63 miles compared to an average of 640 miles by rail," according to the U.S. Bureau of Transportation Statistics 2023 numbers.

But running a trucking company has been tricky because the largest players have economies of scale that smaller operators don't. That puts any trucking company that's not a massive player very sensitive to increases in gas prices or drops in freight rates.

And that in turn has led a number of trucking companies, including Yellow Freight, the third-largest less-than-truckload operator; J.J. & Sons Logistics, Meadow Lark, and Boateng Logistics, to close while freight brokerage Convoy shut down in October.

Aside from Convoy, none of these brands are household names. but with the demand for trucking increasing, every company that goes out of business puts more pressure on those that remain, which contributes to increased prices.

Demand for trucking has continued to increase.

Image source: Shutterstock

Another freight company closes and plans to liquidate

Not every bankruptcy filing explains why a company has gone out of business. In the trucking industry, multiple recent Chapter 7 bankruptcies have been tied to lawsuits that pushed otherwise successful companies into insolvency.

In the case of TBL Logistics, a Virginia-based national freight company, its Feb. 29 bankruptcy filing in U.S. Bankruptcy Court for the Western District of Virginia appears to be death by too much debt.

"In its filing, TBL Logistics listed its assets and liabilities as between $1 million and $10 million. The company stated that it has up to 49 creditors and maintains that no funds will be available for unsecured creditors once it pays administrative fees," Freightwaves reported.

The company's owners, Christopher and Melinda Bradner, did not respond to the website's request for comment.

Before it closed, TBL Logistics specialized in refrigerated and oversized loads. The company described its business on its website.

"TBL Logistics is a non-asset-based third-party logistics freight broker company providing reliable and efficient transportation solutions, management, and storage for businesses of all sizes. With our extensive network of carriers and industry expertise, we streamline the shipping process, ensuring your goods reach their destination safely and on time."

The world has a truck-driver shortage

The covid pandemic forced companies to consider their supply chain in ways they never had to before. Increased demand showed the weakness in the trucking industry and drew attention to how difficult life for truck drivers can be.

That was an issue HBO's John Oliver highlighted on his "Last Week Tonight" show in October 2022. In the episode, the host suggested that the U.S. would basically start to starve if the trucking industry shut down for three days.

"Sorry, three days, every produce department in America would go from a fully stocked market to an all-you-can-eat raccoon buffet," he said. "So it’s no wonder trucking’s a huge industry, with more than 3.5 million people in America working as drivers, from port truckers who bring goods off ships to railyards and warehouses, to long-haul truckers who move them across the country, to 'last-mile' drivers, who take care of local delivery." 

The show highlighted how many truck drivers face low pay, difficult working conditions and, in many cases, crushing debt.

"Hundreds of thousands of people become truck drivers every year. But hundreds of thousands also quit. Job turnover for truckers averages over 100%, and at some companies it’s as high as 300%, meaning they’re hiring three people for a single job over the course of a year. And when a field this important has a level of job satisfaction that low, it sure seems like there’s a huge problem," Oliver shared.

The truck-driver shortage is not just a U.S. problem; it's a global issue, according to

"IRU’s 2023 driver shortage report has found that over three million truck driver jobs are unfilled, or 7% of total positions, in 36 countries studied," the global transportation trade association reported. 

"With the huge gap between young and old drivers growing, it will get much worse over the next five years without significant action."

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Wendy’s has a new deal for daylight savings time haters

The Daylight Savings Time promotion slashes prices on breakfast.



Daylight Savings Time, or the practice of advancing clocks an hour in the spring to maximize natural daylight, is a controversial practice because of the way it leaves many feeling off-sync and tired on the second Sunday in March when the change is made and one has one less hour to sleep in.

Despite annual "Abolish Daylight Savings Time" think pieces and online arguments that crop up with unwavering regularity, Daylight Savings in North America begins on March 10 this year.

Related: Coca-Cola has a new soda for Diet Coke fans

Tapping into some people's very vocal dislike of Daylight Savings Time, fast-food chain Wendy's  (WEN)  is launching a daylight savings promotion that is jokingly designed to make losing an hour of sleep less painful and encourage fans to order breakfast anyway.

Wendy's has recently made a big push to expand its breakfast menu.

Image source: Wendy's.

Promotion wants you to compensate for lost sleep with cheaper breakfast

As it is also meant to drive traffic to the Wendy's app, the promotion allows anyone who makes a purchase of $3 or more through the platform to get a free hot coffee, cold coffee or Frosty Cream Cold Brew.

More Food + Dining:

Available during the Wendy's breakfast hours of 6 a.m. and 10:30 a.m. (which, naturally, will feel even earlier due to Daylight Savings), the deal also allows customers to buy any of its breakfast sandwiches for $3. Items like the Sausage, Egg and Cheese Biscuit, Breakfast Baconator and Maple Bacon Chicken Croissant normally range in price between $4.50 and $7.

The choice of the latter is quite wide since, in the years following the pandemic, Wendy's has made a concerted effort to expand its breakfast menu with a range of new sandwiches with egg in them and sweet items such as the French Toast Sticks. The goal was both to stand out from competitors with a wider breakfast menu and increase traffic to its stores during early-morning hours.

Wendy's deal comes after controversy over 'dynamic pricing'

But last month, the chain known for the square shape of its burger patties ignited controversy after saying that it wanted to introduce "dynamic pricing" in which the cost of many of the items on its menu will vary depending on the time of day. In an earnings call, chief executive Kirk Tanner said that electronic billboards would allow restaurants to display various deals and promotions during slower times in the early morning and late at night.

Outcry was swift and Wendy's ended up walking back its plans with words that they were "misconstrued" as an intent to surge prices during its most popular periods.

While the company issued a statement saying that any changes were meant as "discounts and value offers" during quiet periods rather than raised prices during busy ones, the reputational damage was already done since many saw the clarification as another way to obfuscate its pricing model.

"We said these menuboards would give us more flexibility to change the display of featured items," Wendy's said in its statement. "This was misconstrued in some media reports as an intent to raise prices when demand is highest at our restaurants."

The Daylight Savings Time promotion, in turn, is also a way to demonstrate the kinds of deals Wendy's wants to promote in its stores without putting up full-sized advertising or posters for what is only relevant for a few days.

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Comments on February Employment Report

The headline jobs number in the February employment report was above expectations; however, December and January payrolls were revised down by 167,000 combined.   The participation rate was unchanged, the employment population ratio decreased, and the …



The headline jobs number in the February employment report was above expectations; however, December and January payrolls were revised down by 167,000 combined.   The participation rate was unchanged, the employment population ratio decreased, and the unemployment rate was increased to 3.9%.

Leisure and hospitality gained 58 thousand jobs in February.  At the beginning of the pandemic, in March and April of 2020, leisure and hospitality lost 8.2 million jobs, and are now down 17 thousand jobs since February 2020.  So, leisure and hospitality has now essentially added back all of the jobs lost in March and April 2020. 

Construction employment increased 23 thousand and is now 547 thousand above the pre-pandemic level. 

Manufacturing employment decreased 4 thousand jobs and is now 184 thousand above the pre-pandemic level.

Prime (25 to 54 Years Old) Participation

Since the overall participation rate is impacted by both cyclical (recession) and demographic (aging population, younger people staying in school) reasons, here is the employment-population ratio for the key working age group: 25 to 54 years old.

The 25 to 54 years old participation rate increased in February to 83.5% from 83.3% in January, and the 25 to 54 employment population ratio increased to 80.7% from 80.6% the previous month.

Both are above pre-pandemic levels.

Average Hourly Wages

WagesThe graph shows the nominal year-over-year change in "Average Hourly Earnings" for all private employees from the Current Employment Statistics (CES).  

There was a huge increase at the beginning of the pandemic as lower paid employees were let go, and then the pandemic related spike reversed a year later.

Wage growth has trended down after peaking at 5.9% YoY in March 2022 and was at 4.3% YoY in February.   

Part Time for Economic Reasons

Part Time WorkersFrom the BLS report:
"The number of people employed part time for economic reasons, at 4.4 million, changed little in February. These individuals, who would have preferred full-time employment, were working part time because their hours had been reduced or they were unable to find full-time jobs."
The number of persons working part time for economic reasons decreased in February to 4.36 million from 4.42 million in February. This is slightly above pre-pandemic levels.

These workers are included in the alternate measure of labor underutilization (U-6) that increased to 7.3% from 7.2% in the previous month. This is down from the record high in April 2020 of 23.0% and up from the lowest level on record (seasonally adjusted) in December 2022 (6.5%). (This series started in 1994). This measure is above the 7.0% level in February 2020 (pre-pandemic).

Unemployed over 26 Weeks

Unemployed Over 26 WeeksThis graph shows the number of workers unemployed for 27 weeks or more.

According to the BLS, there are 1.203 million workers who have been unemployed for more than 26 weeks and still want a job, down from 1.277 million the previous month.

This is down from post-pandemic high of 4.174 million, and up from the recent low of 1.050 million.

This is close to pre-pandemic levels.

Job Streak

Through February 2024, the employment report indicated positive job growth for 38 consecutive months, putting the current streak in 5th place of the longest job streaks in US history (since 1939).

Headline Jobs, Top 10 Streaks
Year EndedStreak, Months
6 tie194333
6 tie198633
6 tie200033
1Currrent Streak


The headline monthly jobs number was above consensus expectations; however, December and January payrolls were revised down by 167,000 combined.  The participation rate was unchanged, the employment population ratio decreased, and the unemployment rate was increased to 3.9%.  Another solid report.

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