SoftPoS Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of SoftPoS Market
The SoftPos market size was valued at USD 293.6 million in 2023, and the market is now projected to grow from USD 349.6 million in 2024 to USD 1,457.1 million by 2032, exhibiting a CAGR of 19.5% during the forecast period of 2024-2032.
The COVID-19 pandemic multiplied the adoption of digital payments, riding a surge within the use of contactless and cashless price methods globally. This expanded reliance on digital monetary offerings converted fee behaviors, encompassing transactions including receipt, borrowing, and saving. The growing preference for digital payment answers propelled the boom of the SoftPoS market, imparting handy and steady charge alternatives without the need for bodily contact. This shift closer to digitalization not simplest facilitated financial inclusion but additionally contributed to the overall development of the monetary atmosphere, marking a good sized fashion at some stage in the pandemic duration.
The proliferation of smartphones gives an opportunity for extended adoption of SoftPoS solutions. By utilizing the brand new smartphones or pills, SoftPoS generation transforms them into contactless fee attractiveness devices. This streamlines setup for retailers and eliminates the prices related with traditional POS structures. For instance, Nets, a Nexi Group subsidiary, released ""SoftPay.Io"" in March 2022, enabling traders to accept contactless payments the usage of their Android-based totally cell telephones as fee terminals, without requiring extra hardware.
The upward push of wearable price bands offers a handy alternative to traditional hardware for contactless transactions, providing mobility benefits over POS terminals. These gadgets make use of barcode, NFC, and RFID technology for seamless contactless bills. For example, BillBox introduced TapTap in November 2022, a wearable device allowing consumers to make contactless payments thru a partnership with Visa and NSDL Payments Bank.
Comprehensive SoftPos Market
The SoftPos market growth is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the industry. These segmentations are methodically segregated by enterprise type analysis and by end-user analysis. By enterprises type analysis include, small business and medium business. By end-user analysis include, etail, restaurants/hospitality, service based business (theater and beauty salons), and others (trade people and charity collectors).
The North America region lead the SoftPos market share by benefitting a market size of USD 102.6 million in 2023 due to the presence of a large number of market players and a large number of SoftPoS solution users across the region.
The top players in the market play a crucial role in the industry assuring market growth and setting market standards. These players include Tidypos AS (Norway) CM.Com (Netherland) Bindo Labs Group Limited (U.S.) Worldline (France) Fairbit LLC (U.S.) Asseco SEE (Payten) (Turkey) Alcineo (France) Fime SAS (France) Ingenico (Phos) (Bulgaria) WIZZIT (Pty) Ltd (South Africa) EMI Global Corp (M4 Bank) (UAE), these market players provide a level-playing competitive landscape.
In February 2024, PayTabs Group entered into a strategic partnership with Nearpay to enhance soft POS payment experience for users across Jordan and other company markets in the region.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 19.5% from 2024 to 2032
Unit Value (USD Million)
Segmentation By Enterprise Type
Small Business
Medium Business
By End-User
Retail
Restaurants/Hospitality
Service Based Business (Theater, Beauty Salons)
Others (Trade People, Charity Collectors)
By Region
North America (By Enterprise Type, By End-User, and By Country)
- U.S. (By End-User)
- Canada (By End-User)
- Mexico (By End-User)
Europe (By Enterprise Type, By End-User, and By Country)
- U.K. (By End-User)
- Germany (By End-User)
- France (By End-User)
- Italy (By End-User)
- Spain (By End-User)
- Russia (By End-User)
- Benelux (By End-User)
- Nordics (By End-User)
- Rest of Europe
Asia Pacific (By Enterprise Type, By End-User, and By Country)
- China (By End-User)
- Japan (By End-User)
- India (By End-User)
- South Korea (By End-User)
- ASEAN (By End-User)
- Oceania (By End-User)
- Rest of Asia Pacific
Middle East & Africa (By Enterprise Type, By End-User, and By Country)
- Turkey (By End-User)
- Israel (By End-User)
- GCC (By End-User)
- North Africa (By End-User)
- South Africa (By End-User)
- Rest of Middle East & Africa
South America (By Enterprise Type, By End-User, and By Country)
- Brazil (By End-User)
- Argentina (By End-User)
- Rest of South America
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- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global SoftPoS Market Key Players Market Share/Ranking, 2023
- 5. Global SoftPoS Market Size Estimates and Forecasts, By Segments, 2019-2032
- 5.1. Key Findings
- 5.2. By Enterprise Type (USD)
- 5.2.1. Small Business
- 5.2.2. Medium Business
- 5.3. By End-User (USD)
- 5.3.1. Retail
- 5.3.2. Restaurants/Hospitality
- 5.3.3. Service Based Business (Theater, Beauty Salons)
- 5.3.4. Others (Trade people, Charity Collectors etc.)
- 5.4. By Region (USD)
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Middle East & Africa
- 5.4.5. South America
- 6. North America SoftPoS Market Size Estimates and Forecasts, By Segments, 2019-2032
- 6.1. Key Findings
- 6.2. By Enterprise Type (USD)
- 6.2.1. Small Business
- 6.2.2. Medium Business
- 6.3. By End-User (USD)
- 6.3.1. Retail
- 6.3.2. Restaurants/Hospitality
- 6.3.3. Service Based Business (Theater, Beauty Salons)
- 6.3.4. Others
- 6.4. By Country (USD)
- 6.4.1. United States
- 6.4.1.1. By End-User
- 6.4.2. Canada
- 6.4.2.1. By End-User
- 6.4.3. Mexico
- 6.4.3.1. By End-User
- 7. Europe SoftPoS Market Size Estimates and Forecasts, By Segments, 2019-2032
- 7.1. Key Findings
- 7.2. By Enterprise Type (USD)
- 7.2.1. Small Business
- 7.2.2. Medium Business
- 7.3. By End-User (USD)
- 7.3.1. Retail
- 7.3.2. Restaurants/Hospitality
- 7.3.3. Service Based Business (Theater, Beauty Salons)
- 7.3.4. Others
- 7.4. By Country (USD)
- 7.4.1. United Kingdom
- 7.4.1.1. By End-User
- 7.4.2. Germany
- 7.4.2.1. By End-User
- 7.4.3. France
- 7.4.3.1. By End-User
- 7.4.4. Italy
- 7.4.4.1. By End-User
- 7.4.5. Spain
- 7.4.5.1. By End-User
- 7.4.6. Russia
- 7.4.6.1. By End-User
- 7.4.7. Benelux
- 7.4.7.1. By End-User
- 7.4.8. Nordics
- 7.4.8.1. By End-User
- 7.4.9. Rest of Europe
- 8. Asia Pacific SoftPoS Market Size Estimates and Forecasts, By Segments, 2019-2032
- 8.1. Key Findings
- 8.2. By Enterprise Type (USD)
- 8.2.1. Small Business
- 8.2.2. Medium Business
- 8.3. By End-User (USD)
- 8.3.1. Retail
- 8.3.2. Restaurants/Hospitality
- 8.3.3. Service Based Business (Theater, Beauty Salons)
- 8.3.4. Others
- 8.4. By Country (USD)
- 8.4.1. China
- 8.4.1.1. By End-User
- 8.4.2. India
- 8.4.2.1. By End-User
- 8.4.3. Japan
- 8.4.3.1. By End-User
- 8.4.4. South Korea
- 8.4.4.1. By End-User
- 8.4.5. ASEAN
- 8.4.5.1. By End-User
- 8.4.6. Oceania
- 8.4.6.1. By End-User
- 8.4.7. Rest of Asia Pacific
- 9. Middle East & Africa SoftPoS Market Size Estimates and Forecasts, By Segments, 2019-2032
- 9.1. Key Findings
- 9.2. By Enterprise Type (USD)
- 9.2.1. Small Business
- 9.2.2. Medium Business
- 9.3. By End-User (USD)
- 9.3.1. Retail
- 9.3.2. Restaurants/Hospitality
- 9.3.3. Service Based Business (Theater, Beauty Salons)
- 9.3.4. Others
- 9.4. By Country (USD)
- 9.4.1. Turkey
- 9.4.1.1. By End-User
- 9.4.2. Israel
- 9.4.2.1. By End-User
- 9.4.3. GCC
- 9.4.3.1. By End-User
- 9.4.4. North Africa
- 9.4.4.1. By End-User
- 9.4.5. South Africa
- 9.4.5.1. By End-User
- 9.4.6. Rest of MEA
- 10. South America SoftPoS Market Size Estimates and Forecasts, By Segments, 2019-2032
- 10.1. Key Findings
- 10.2. By Enterprise Type (USD)
- 10.2.1. Small Business
- 10.2.2. Medium Business
- 10.3. By End-User (USD)
- 10.3.1. Retail
- 10.3.2. Restaurants/Hospitality
- 10.3.3. Service Based Business (Theater, Beauty Salons)
- 10.3.4. Others
- 10.4. By Country (USD)
- 10.4.1. Brazil
- 10.4.1.1. By End-User
- 10.4.2. Argentina
- 10.4.2.1. By End-User
- 10.4.3. Rest of South America
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. Tidypos AS
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. CM.Com
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. Bindo Labs Group Limited
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. Worldline
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. Fairbit LLC
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. Asseco SEE (Payten)
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. Alcineo
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. Fime SAS
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. Ingenico (Phos)
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. WIZZIT (Pty) Ltd
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
- 12. Key Takeaways
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