Point of sale (POS) systems are important digital tools for managing and processing orders, payments, inventory, and customer data. Managing restaurants or retail stores through touchscreen operations can greatly improve customer experience!
According to UIPOS survey data, the total revenue of the US POS industry in 2024 is $10.8 billion, with a compound annual growth rate of 4.2% since 2019. The compound annual growth rate is expected to be around 1.1% in the next five years.
With the recovery of the economy, the demand for POS systems in various industries has increased sharply. UIPOS survey found that the revenue distribution of the US POS industry in 2024 is mainly in four major sectors: the food service industry, the retail industry, the medical industry, and other industries. Among them, the food service industry is the largest source of revenue for the entire US POS industry in 2024, accounting for 40.6%; followed by the retail industry, accounting for 19.1% of the total revenue of the entire POS industry in 2024; followed by the medical industry, accounting for 13.6%; other industries accounted for the remaining 26.7%.
Although there are certain technical barriers in the current US POS industry, there are many technical talents on the market, and the impact of changes in the regulatory environment on POS systems is not very high, and the overall development of the POS industry has been relatively mature.
Moreover, the POS industry has made full use of the growth in consumer spending and the trend of changing consumption habits in the past two years. The most obvious is the rapid shift of the market from contact to contactless payment. Due to the increased coverage of functions such as NFC and self-service checkout, consumers have enjoyed the convenience, security and efficiency of mobile payment, and more and more people choose to bypass traditional POS credit card payment.
According to UIPOS’s survey of US POS companies in 2024, nearly 21.5% of POS companies in the United States are located in California, 6% of POS companies are located in New York, 6% of POS companies are located in Texas, and 4.7% of POS companies are located in Florida, which is equivalent to the number of Massachusetts and Washington State.
From the above data, we can see that there are many POS companies in the United States, and the US POS system industry will continue to maintain steady growth in 2024. Despite the challenges of technological innovation and market competition, the overall outlook of the industry remains optimistic.