U.K. Point Of Sale Software Industry Overview

The global U.K. point of sale software market size is expected to reach USD 1.05 billion by 2028, expanding at a CAGR of 8.1% from 2021 to 2028, according to the new study conducted by Grand View Research, Inc. The integration of a Point-Of-Sale (POS) solution with capabilities such as sales reports monitoring, cash flow recording, product demand analysis, tracking delivery status, and inventory management ensure systematic functioning and upscaling of a business. The adoption of POS software is directly impacted by the demand for POS terminals, which is witnessing growth in demand due to changing lifestyles and government policies. However, the COVID-19 pandemic disrupted the industry's business, wherein retail stores, restaurants, and hotels witnessed a shutdown and revenue loss. Although the overall POS terminal market is witnessing a decline in demand, the need for POS software to continue running an online business and the adoption of mobile POS aggregated the POS software market growth in the U.K.

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:

Based on the Application Insights, the market is segmented into Fixed POS and Mobile POS

• The mPOS terminals segment is expected to expand at the highest CAGR of over 10% during the forecast period. The low cost of installation and portability is contributing to the increasing demand for mPOS terminals. 
• Mobile-based POS systems are capable of creating revenue growth channels, thereby attracting retail, restaurant, and other industries to leverage numerous marketing channels for gaining a competitive edge in the market. The POS software application in mPOS is driven by the demand across SMBs, as mPOS provides the flexibility of using tablets or smartphonesas a POS with minimal investment in software subscriptions.
• The POS software application is segmented into fixed POS terminal and mobile POS terminal. The integration of POS software in fixed POS terminals is often provided by the vendor’s partners. The end users can also select a software vendor of their choice based on the nature of the business. 

Based on the Deployment Insights, the market is segmented into Cloud and On-premises

• The on-premises deployment POS software is preferred by large enterprises that need to protect large volumes of confidential customer financial and identity information. Although on-premises deployment offers access to data even in offline mode, cloud deployment is an economical option for small-size businesses.
• The POS deployment on the cloud helps leverage Software as a Service (SaaS) capability in the existing personal computers, mobiles, and tablets. The inclination toward deploying a POS solution on the cloud is supported by the low cost of installation as there is no need for separate hardware. 

Based on the Organization Size Insights, the market is segmented into Large Enterprises and SMEs

• The large enterprises segment contributed the highest revenue share of over 58% and is expected to dominate the market over the forecast period. POS software is used by large enterprises to carry out hassle-free transactions, track sales, and link the data back to an inventory control system, which provides large enterprises insightful information to make critical business decisions.
• The SMEs segment is expected to witness high growth over the forecast period. The software for mobile POS (mPOS) terminals is widely adopted by small vendors owing to the low cost of installation and scaling of business without the hassle of installing the complete hardware system.

Based on the End-user Insights, the market is segmented into Restaurant Hospitality Healthcare Retail Entertainment and Other

• POS solutions compatible with POS terminals help avoid billing errors and ensure reliability by managing inventory, employees, and other information crucial for business. The healthcare segment is expected to expand at the highest CAGR of over 9% during the forecast period with the influx of patients during the COVID-19 pandemic.
• With the combination of a traditional POS strategy with a mobile POS strategy, retailers and other end users have more flexibility for leveraging the benefits of a sophisticated retail management solution. POS software provides the capability of using mobile devices to connect with customers, sell anywhere, and run the business smoothly. 
• mPOS software offers several payment alternatives that are outside the control of the major brand card interchange processors such as MasterCard and Visa. However, mobile payment providers are expected to modify the transaction processing structure in the country by capturing a growing share of the payment volume.

Key Companies Profile Market Share Insights

The prominent vendors in the U.K. market partner with the payment provider, application integrator, or distributors to increase their revenue and strong product offering.

Some of the prominent players operating in the U.K. point of sale software market are:

• Lightspeed
• Square Inc.
• PayPal Inc. (iZettle)
• TouchBistro
• Oracle
• NCR Corporation
• ShopKeep
• Revel Systems
• iiko UK Europe
• Clover Network Inc.

Order a free sample PDF of the U.K. Point Of Sale Software Market Intelligence Study, published by Grand View Research.