According to the Market Statsville Group (MSG), the global cannabis retail point of sale software (POS) is estimated to grow at a CAGR of 15.2% from 2022 to 2030. Cannabis retailers and dispensaries often uses POS solutions to sell their products, by staying in compliance with federal and state regulations using POS solutions. Factors, including the integration of various features such as CRM, inventory management, and others, along with rising awareness regarding the cannabis retail point of sale (POS) software over the physical point of sale (POS) system, are estimated to fuel the market’s growth in forthcoming years across the globe. Additionally, the growing internet penetration, online payment solutions, and supportive government initiatives will further pave the way for the market’s growth in the future.

COVID-19 Impact on the Global Cannabis Retail Point of Sale (POS) Software Market

COVID-19 negatively impacted the market’s growth as global lockdowns had affected the manufacturing processes and disrupted supply chains, resulting in a steep downslope of the market amid the pandemic. Further, the people are saving money for future uncertainties, and this factor has drastically affected the demand for cannabis, resulting in low demand for the software from end-users.

However, with the ease of COVID-19 guidelines, the software turned out to be an effective solution. By using software, minimum contact or social distancing can be practiced, and work is not hampered due to the absence of a workforce. Hence, the COVID-19 initially had a negative impact on the market in the first half of 2020 and supported the market’s growth during the second half of 2020, resulting in a significant COVID-19 impact.

Scope of the Global Cannabis Retail Point of Sale (POS) Software Market

The study categorizes the cannabis retail point-of-sale software market based on type, mode of application, device, and application, at the regional and global levels.

By Type Outlook (Sales, USD Million, 2017-2030)

• Cloud-Based
• Web-Based   

By Mode of Application Outlook (Sales, USD Million, 2017-2030)

• Online
• Offline

By Device Outlook (Sales, USD Million, 2017-2030)

• Android
• Tablets
• Laptop
• Others

By Application Outlook (Sales, USD Million, 2017-2030)

• Large Enterprises
• SMEs

By Region Outlook (Sales, USD Million, 2017-2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

Large enterprise's segment accounts for major market share by application

On a segmental basis, large enterprises accounted for the major market share in 2021. Large enterprises already have high operational costs, and in addition, inventory management requires an additional workforce which significantly increases the cost of operation and price of cannabis. However, with the adoption of software, the operational cost will be reduced and will offer ease in operations without requiring an additional workforce, thereby catering to the needs of large enterprises. This, in turn, increases the adoption of software in large enterprises, propelling the segment’s growth during the forecast period.

North America dominates the global cannabis retail point of sale (POS) software market

Based on the regional analysis, the North American region will dominate the cannabis retail point of sale (POS) software market in 2021 and is estimated to hold a major market share during the forecast period. Due to the increasing usage of POS software systems for the consumption of cannabis.

Following this, Europe is estimated to show immense growth opportunities due to rapid economic development, technological advancement, and ever-increasing demand for point of sale (POS) solutions with advanced features. Such factors will propel the market's growth across the region.

However, the Asia-Pacific region is estimated to showcase the highest CAGR during the forecasting period. The growth is attributed to the enhanced overall operations and cost-saving benefits.

Key Market Players in the Global Cannabis Retail Point of Sale (POS) Software Market

The global cannabis retail POS software market is concentrated in nature and has a high competitive rivalry. Further, major market players operating in the market adopt various strategies to enhance their customer base and global market presence.

Major players in the global cannabis retail point-of-sale software market are:

• POSaBIT
• Waitr Holdings Inc
• BLAZE
• Magestore
• Flowhub
• Green Bits
• Ample Organics
• Canix
• Flourish
• Treez

Recent Developments

• In December 2021, Waitr Holdings Inc. acquired a cannabis-focused point of sale (POS), inventory, and compliance software platform from Retail Innovation Labs Inc. dba Cova. This acquisition will enhance the company’s product offerings and global presence.
• In October 2021-POSaBIT Systems Corporation announced a deeply integrated partnership with Alpine IQ, one of the leading data and marketing solutions providers for cannabis retailers. This integration enhances the experience for dispensaries and customers. It also provides a 360° program, enabling dispensaries to cultivate unmatched guest loyalty and drive incremental sales.
• In September 2020, POSaBIT Systems Corporation, one of the leading financial technology companies, unveiled POSaBIT Unlimited. POSaBIT Unlimited includes handheld point of sale hardware (“The Pocket POS”), countertop point of sale hardware (“POSaBIT POS”), a host of card payment options built to satisfy the needs of any cannabis retailer in the country, and the company’s proprietary point of sale software, among others.

Key Issues Addressed

• What is the market size by various segmentation of the cannabis retail point-of-sale software market by region and its respective countries?
• What are the customer buying behavior, key takeaways, and Porter's 5 forces of the cannabis retail point-of-sale software market?
• What are the key opportunities and trends for manufacturers involved in the cannabis retail point-of-sale software market supply chain?
• What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
• What and how regulations, schemes, patents, and policies are impacting the growth of the market?
• What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
• The market player positioning, top winning strategies by years, company product developments, and launches will be?
• How has COVID-19 impacted the demand and sales of cannabis retail point-of-sale software market in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
• Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of leading and prominent companies in the market.