Scandinavian POS Terminal Market – 2024

By Lee Holman Mar 7, 2024 3 Min Read

The Scandinavian retail market (Sweden, Norway, Denmark, and Finland) is a dynamic landscape that offers significant opportunities for international retailers and vendors. Across the region, consumers are tech-savvy and early adopters of new technologies. This digital-savvy consumer base presents opportunities for retailers to leverage innovative retail technologies and e-commerce platforms. This market is also characterized by a strong preference for sustainability and ethical practices. As a result, the Scandinavian POS terminal market tends to be among the most modern anywhere.

Total Retail Sales: €245 Billion ($265 Billion), down 6.2% from 2022

Scandinavian POS Terminal Market – Country Overview

8^th Largest EMEA economy €1.5 Trillion ($1.7 Trillion)
8^th Largest retail market in the region
9^th Largest POS Installed Base in Europe/Middle East/Africa
€8,855 ($9,581 USD) per capita retail sales

Leading Retailers

Hennes & Mauritz (#53 worldwide), S Group (#83), ICA (#85), NorgesGruppen (#106), Salling Group (#116), Kesko (#133), Reitan Group (#151), Axel Johnson (#157), Coop Norge (#180), Coop Danmark (#206), JYSK Group (#231)

Key Scandinavian POS Terminal Market Trends

Not surprisingly, this is the most technologically advanced region in all of EMEA, with abundant R&D efforts in Defense, Healthcare, Manufacturing and Industrial Processes.
Since 2014, retail sales have grown 25%, compared to 19% for France, 35% for UK and 25% for Germany.
Consists of Denmark, Finland, Norway and Sweden, who differ greatly in their approach to retail. Denmark tends to be territorial, with little foreign retail intervention besides Lidl, Aldi, Reitan and H&M. Finland is the only one of the four that adopted the Euro. Four companies dominate Finnish retail (SOK, Kesko, Lidl and Suomen Lähikauppa OY) who control 50% of retail sales. For their part, Norway prefers cooperatives, and the top 4 command 90% of all food sales. Sweden has had the most success in their retailers expanding into other markets. These include H&M (4,800+ stores outside of Sweden), Lindex (270+) and IKEA (nearly 430).

Key Scandinavian POS Terminal Market Size

2023 market was €159 Million and is expected to grow to €200 Million (26.0%, 4.7% CAGR ) by 2028.

Key POS Hardware Vendors/Key POS Software Vendors

Among the key POS hardware vendors in the Scandinavian POS market are Diebold Nixdorf, Fujitsu, Toshiba and NCR Voyix.
Key POS software vendors in the Scandinavian POS market include Extenda, Diebold Nixdorf, Oracle and GK Software.

IHL Studies for Scandinavian POS Terminal Market

2024 EMEA POS Terminal Market Study

This study includes market sizing, POS shipments, POS installed base and trends for the key EMEA countries (Germany, France, UK, etc) and the region as a whole.

Includes POS market share by software vendor by segment

Provides POS shipments and POS installed base by quarter for each retail segment for the EMEA region.

2024 EMEA Retail Stores/POS Sizing by Retail Chain Size

Included in this study are Market Sizing by store locations and chain size for Europe/Middle East/Africa