U.K. Point Of Sale Software Industry Overview
The U.K. point of sale software market size was valued at USD 549.0 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 8.1% from 2021 to 2028.
The demand for Point-Of-Sale (POS) software can be attributed to the rise in cashless economy, demand for mobile POS terminals, and increasing number of payment applications. The U.K. is rapidly moving toward a cashless economy, furthered by the COVID-19 pandemic. This is expected to increase the usage of payment wallets and budget-friendly mPOS terminals, favoring the market growth. Moreover, mobile and tablet-based POS terminals are more economical for small and medium-sized businesses and the availability of affordable iOS and Android compatible software is driving the adoption of POS software over the forecast period.
Gather more insights about the market drivers, restrains and growth of the U.K. Point Of Sale Software Market
A POS system has become a vital tool for many businesses in the U.K. to manage long queues and provide quick payment facilities. Initially, POS terminals with compatibly integrated software facilitated cashless payment transactions. However, upgrades in POS software offer multiple functions such as employee management, loyalty and gift card management, inventory management, everyday sales tracking, and insights on popular products and sales trends.
The add-on POS functions help scale the business competitively and manage multiple location information for a holistic view of sales and other functions. The U.K. restaurant industry has more widely adopted POS solutions to run the business. The average cost of POS software ranges between USD 79 to USD 150 per month while the hardware is a one-time investment starting at nearly USD 799. The cost of software usually increases for retailers as they need multiple functions for a successful business operation. The robust online retail industry in the U.K. and the increased offline retail space has further bolstered the demand for POS terminals and their software.
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U.K. Point Of Sale Software Market Segmentation
Grand View Research has segmented the U.K. point of sale software market based on application, deployment, organization size, and end-user:
U.K. POS Software Application Outlook (Revenue, USD Million, 2016 - 2028)
- Fixed POS
- Mobile POS
U.K. POS Software Deployment Outlook (Revenue, USD Million, 2016 - 2028)
- Cloud
- On-premises
U.K. POS Software Organization Size Outlook (Revenue, USD Million, 2016 - 2028)
- Large Enterprises
- SMEs
U.K. POS Software End-user Outlook (Revenue, USD Million, 2016 - 2028)
- Restaurant
- Hospitality
- Healthcare
- Retail
- Entertainment
- Other
Key Companies profiled:
- Lightspeed
- Square Inc.
- PayPal Inc. (iZettle)
- TouchBistro
- Oracle
- NCR Corporation
- ShopKeep
- Revel Systems
- iiko UK & Europe
- Clover Network Inc.
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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