Asia Pacific Point of Sale System Market Size was valued at USD 26.5 Billion in 2022. The Point of Sale System market industry is projected to grow from USD 31.2 Billion in 2023 to USD 117.5 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 18.0% during the forecast period (2024 - 2032). The major market driver for the Asia Pacific point-of-sale system market is the requirement for conducting cashless transactions, monitoring sales and inventory records, and implementing sales strategies via analytics across various sectors such as retail chains, restaurants, hotels, pharmacies, and auto shops.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Asia Pacific Point of Sale System market CAGR is expanding due to the rising demand for digitalization, the adoption of cutting-edge payment technologies, and the growing popularity of e-commerce and m-commerce. The surge in global financial fraud cases has spurred government regulatory bodies to bolster security measures for payment transactions in recent years. With consumers increasingly prioritizing safe and dependable digital transactions, the demand for secure payment processes has surged. Consequently, regulatory initiatives have played a pivotal role in driving the adoption of point-of-sale terminals. Furthermore, the escalating prevalence of mobile technology worldwide has propelled the uptake of mobile POS terminals. The emergence of cashless transaction technologies has further fueled the proliferation of POS systems. Moreover, the burgeoning e-commerce landscape in the Asia Pacific region presents lucrative opportunities for the POS terminals market. A study conducted by Google in the first half of 2021 revealed a significant shift towards online shopping in the region, with regular online shoppers surpassing their offline counterparts by 42% vs. 31%. Additionally, those who shop online occasionally exceed offline shoppers by 66%, indicating a substantial shift towards digital commerce. The region's remarkable growth has even exceeded projections for 2025, underscoring the rapid pace of digital adoption.
To meet evolving consumer preferences and adhere to social distancing protocols, numerous businesses have embraced contactless payment options, offering customers touch-free alternatives. As consumers increasingly acclimate to these payment methods, they anticipate broader availability across various businesses. In a notable development, the National Payments Corporation of India (NPCI) joined forces with SBI Payments in March 2021 to introduce a RuPay SoftPoS solution tailored for Indian merchants. This innovative solution transforms NFC-enabled smartphones into POS terminals, enabling retailers to accept contactless payments of up to INR 5000 through simple tap-and-pay mechanisms. Such strategic initiatives by governmental entities are catalyzing the growth of contactless payments. Thus, driving the Point of Sale System market revenue.
The Asia Pacific Point of Sale System market segmentation, based on Product, includes Fixed (Kiosks, Others) and mobile (Tablet, Others). The fixed segment dominated the market. Larger vendors' increased demand for fixed POS terminals is driven partly by the extensive installation requirements, thereby fostering market growth. Due to the numerous risks linked with cloud data usage, there is a heightened demand for on-premises services. Major vendors are actively pursuing terminal installations at their facilities and enhancing security measures. This system offers various functionalities, including bill printing, inventory management, customer relationship management, and support for payment devices.
The Asia Pacific Point of Sale System market segmentation, based on Components, includes Hardware, Software, and Services. The hardware category generated the most income. The hardware segment encompasses a wide array of devices crucial for daily operational activities. These hardware devices play a fundamental role within the fixed terminal system, facilitating efficient management of day-to-day tasks.
Figure 1: Asia Pacific Point of Sale System Market, by Component, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Asia Pacific Point of Sale System market segmentation, based on Deployment, includes On-premise and cloud. The cloud category generated the most income. Many consumers opt for cloud-based services on a subscription basis rather than owning the entire system. The expense associated with setting up a fixed product is significantly reduced, which proves highly beneficial for numerous restaurants and other sectors. The installation process is lengthy and costly. Consequently, most companies have embraced cloud-based products due to the wide array of benefits they offer. Cloud-based products are highly efficient in providing updates and enhancing user experience by improving processes.
The Asia Pacific Point of Sale System market segmentation, based on End Users, includes Restaurants, Retail, Hospitality, Healthcare, Warehouse, Entertainment, and Others. The retail category generated the most income. The product is experiencing a surge in demand due to its time-saving capabilities, effectively reducing significant delays already prevalent in various operations. Within the retail segment, traditional brick-and-mortar stores are prevalent. The introduction of new technology, such as mobile wallets, is poised to drive substantial market growth, facilitating enhanced market penetration and provision of efficient services.
The prevalence of cashless transactions across various nations presents fresh opportunities for the Asia Pacific market. As per data from the Reserve Bank of India (RBI), there was a notable 28.6% increase in the number of Point-of-Sale terminals, reaching a total of 60.7 million, alongside a significant 39.3% rise in the deployment of Bharat Quick Response (BQR) codes, reaching 49.7 million. Additionally, the count of Automated Teller Machines (ATMs) saw an uptick from 2.39 million in 2021 to 2.48 million in 2022. Moreover, the COVID-19 pandemic has spurred the need for cashless payment acceptance in healthcare settings, driving demand for POS terminals in the healthcare sector. In a noteworthy development, in September 2021, Mswipe launched e-RUPI for all its 675 thousand POS and 1.1 million QR merchants, aimed at enhancing digital payment acceptance among MSMEs throughout India. Mswipe's initiative has facilitated hospitals and healthcare facilities in accepting digital vouchers from beneficiaries, thereby bolstering the vaccination campaign against COVID-19. China led the Asia Pacific point of sale system market as a result of fast urbanisation, robust economic growth and a flourishing retail industry. China is witnessing a noteworthy increase in demand for PoS software solutions as businesses across many sectors recognise its critical role in enhancing operational efficiency and customer experience.
Figure 2: ASIA PACIFIC POINT OF SALE SYSTEM MARKET SHARE BY COUNTRY 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Leading market players are investing heavily in research and development to expand their product lines, which will help the Point-of-Sale System market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the point-of-sale system industry must offer cost-effective items.
Major players in the Point of Sale System market are attempting to increase market demand by investing in research and development operations, including Presto, Acrelec, Toshiba Corporation, Quail Digital, and Oracle Corporation.
March 2022: Ingenico, a brand under Worldline, and BharatPe, a rapidly growing fintech company in India, announced a five-year strategic agreement aimed at accelerating the adoption of POS devices. Under this collaboration, Ingenico will deploy 100,000 units of its Axium line of Android Smart POS devices and PPaaS (Payments Platform as a Service) to BharatPe's merchant network in India within the next 12 months. These Axium DX8000 Android-based terminals, along with PPaaS, provide BharatPe, a unicorn company based in Delhi, with a technology stack designed to meet the evolving needs of a rapidly expanding market.
August 2021: BharatPe forged a strategic partnership with Axis Bank, wherein the private lender will serve as the acquiring bank for BharatPe's PoS business, BharatSwipe. This collaboration is set to enhance the overall merchant experience by leveraging Axis Bank's advanced technology platform
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 26.5 Billion |
| Market Size 2023 | USD 31.2 Billion |
| Market Size 2032 | USD 117.5 Billion |
| Compound Annual Growth Rate (CAGR) | 18.0% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019-2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Component, Deployment, End User, and Region |
| Region Covered | Asia Pacific |
| Countries Covered | China, Japan, India, Australia, South Korea, Indonesia, Thailand, Vietnam, Malaysia, Singapore, and Rest of Asia-Pacific |
| Key Companies Profiled | Presto, Acrelec, Toshiba Corporation, Quail Digital, and Oracle Corporation |
| Key Market Opportunities | ·      Prominence of cashless payments |
| Key Market Dynamics | ·      Growing demand for digital payment methods ·      Increased use of the point-of-sale terminals through the mobile phone |
Frequently Asked Questions (FAQ) :
The Asia Pacific Point of Sale System market size was valued at USD 31.2 Billion in 2023.
The market is projected to grow at a CAGR of 18.0% during the forecast period, 2024-2032.
The key players in the market are Presto, Acrelec, Toshiba Corporation, Quail Digital, and Oracle Corporation.
The Fixed category dominated the market in 2023.
The Retail category had the largest share of the market.
Senior Research Analyst Ankit gupta is an analyst in market research industry in ict and semi industry. with post-graduation in "telecom and marketing management" and graduation in "electronics and telecommunication" vertical he is well versed with recent development in ict industry as a whole. having worked on more than 150+ reports including consultation for fortune 500 companies such as microsoft and rio tinto in identifying solutions with respect to business problems his opinions are inclined towards mixture of technical and managerial aspects.
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