Point Of Sales Marketing Market
Market Research Future (MRFR), in their latest report has stated that the global POS software market is anticipated to project a robust CAGR of 14.27% during the forecast period. The report has also mentioned that the global POS software market was valued at USD 14.10 billion at the beginning of teh forecast period and is expected to grow at USD 34.77 billion by the end of 2025. POS software, or point-of-scale software refers to a solution that is used in combination with POS hardware terminals like cash registers, debit card and credit card processing equipment, displays, special terminals, optical scanners, and magnetic card readers.
The POS software system has the capability of analyzing the inventories, sales reports, and optical scanners, along with magnetic card readers. The POS software system can analyze inventories, sales reports, and many other parameters that are offering a graphical and pictoral representation for facilitating better business insights. This, in turn, aids a simplification of business operations and a rise in employee productivity, customer satisfaction, and operational efficiency.
The global POS software market is majorly driven by the increasing adoption of smartphones, tablets, and other smart handheld devices. Apart from that, changing payment options that include a growing use of debit cards, credit cards, and other digital payment wallets has also supplemented the market growth for POS software, globally. Government has introduced various regulations which is supporting the development of high-speed networks, which in turn, is also aiding the mushrooming of the global POS software market over the forecast period.
Regional Analysis
The geographic analysis of POS software market has been done for North America (the US, Canada, and Mexico), Europe (Germany, the UK, France, Spain, Norway, Benelux, and Italy), Asia-Pacific (China, Japan, India, South Korea, Australia, Malaysia, Indonesia, and the Philippines), Middle East and Africa (Saudi Arabia, Israel, Turkey, and South Africa) and South America (Brazil, Peru, Chile, and Argentina).
North America is currently dominating the global POS software market. The US followed by Canada is currently leading the market as the country has been the earliest adopter of advanced technologies. Additionally, well-established network infrastructure, developed economy, and increasing demand for POS terminals are driving the growth of POS software market in the US. Furthermore, the region houses the majority of the key players who are focused on developing POS solutions to meet the consumer demand which is contributing to the growth of POS software market in the region.
Europe holds a significant share in the global POS software market. Increasing number of initiatives by the European government to reduce dependency on cash payments and digitalize the payment process and replacement of non-EMV Master, Visa and Europe POS terminals with PCI-compliant EMV POS terminals to reduce fraudulent activities is driving the growth of POS software market in Europe. Furthermore, growing adoption of cloud-based POS solutions has significantly increased the demand in the region.
Asia-Pacific region is projected to grow at the fastest CAGR in the global POS software market. Increasing demand for POS terminals across retail and hospitality sectors and increasing popularity and ease of cashless transactions is driving the market growth. Furthermore, the growing number of SMEs across the region which demands cloud-based POS software is further contributing to the market growth.
The Middle East and Africa and South America are expected to grow at a steady pace in the POS software market. Growing demand across enterprises in the region to streamline the transaction process, increasing government initiatives regarding secure payment transaction, and rising adoption of mobile POS solution to improve customer engagement, customer satisfaction ratio, and customer experience is expected to increase the demand for POS software.
Key players
MRFR has considered Microsoft Corporation (US), Toast Inc (US), Square Inc (US), TouchBistro Inc (Canada), Poster POS (Ukraine), Vend (New Zealand), Miva, Inc (US), Lightspeed (Canada), Shopify (Canada), Salesforce.com, Inc (US), Intuit (US), Bindo POS (US), Erply (US), GOFRUGAL (Dubai), Toshiba Corporation (Japan), PAX Global Technology Limited (Hong Kong), Panasonic Corporation (Japan), Intel Corporation (US), and HP Inc (US) as some of the key players in the Global POS Software Market.
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Point Of Sales Marketing MarketThe sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Point Of Sales Marketing Market.
The growth sectors of the Point Of Sales Marketing Market are identified with precision for a better growth perspective.As per MRFR’s analysis, the Global POS Software Market 2020 was valued at USD 14.10 billion in 2018 and is slated to reach USD 34.77 billion by 2025, expanding at a CAGR of 14.27% during the forecast period, 2019–2025.Market HighlightsThe growing adoption of smartphones , tablets, and other smart handheld devices, changing payment options that include increasing use of credit cards, debit cards , and other digital payment wallets, and government support driving the development of high-speed networks such as 3 G , 4 G, and 5 G are some of the major drivers of POS software market growth.
Increasing demand among retailers , restaurants, hotels , resorts, grocery stores / supermarkets and cafés to manage entire business operations such as inventories, sales, customer loyalty and single platform marketing have created a significant demand for POS systems.
POS payment gateway software helps companies improve customer engagement, customer satisfaction ratio, and overall customer experience.Owing to the increasing adoption of contactless payment solutions and the integration of AI technology with the software the market is expected to offer growth opportunities.
However, growing concerns regarding data security are a major market restraining factor.
Emerging technologies like IoT and machine learning have a major impact on the market for POS software.
Global POS Software Market Research Report: by Component (Software, Service), by Type (Fixed POS, Mobile POS), by Deployment (On-Cloud, On-Premise), by Operating System (iOS, Android, Windows), by Application (Inventory Tracking, Sales Reporting, Purchasing Management, Customer Engagement, Others), by End-User ( BFSI, Retail, Media & Entertainment, Transportation, Hospitality, Others), by Region (North America, Europe, Asia-Pacific, Middle East and Africa, South America) - Forecast till 2027Market OverviewThe Global POS Software Market was valued at USD 14.10 billion in 2018; it is estimated to reach USD 34.77 Billion by 2025 growing at a CAGR of 14.27% during the forecast period 2020–2027.
Market Research Future (MRFR) has segmented the POS software market on the basis of component, type, deployment, operating system, application, end-user, and region.By component, the point of sales marketing market has been segmented into software and services.
POS software provides inventory management, price lookup, serial number support, discount management, barcode scanning, customer scanning, loyalty card management, customer accounts, access & security, and other features which simplify the digital transactions, increase employee productivity, operational efficiency and enhance customer satisfaction.
Fixed POS systems have witnessed high adoption as they offer ease of operations owing to features including display screens, barcode scanners, cash drawers, keyboards, printers, and others; this has increased the demand for POS software for PCs and other fixed terminals.
Rising ownership of smart handheld devices such as smartphones, tablets, card readers, PIN pad devices, and others drive the demand for mobile POS systems.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/8384By deployment, the market has been segmented into on-cloud and on-premise segments.
Cloud-based POS software offers scalability, flexibility, mobility, and cost-efficiency which increases its demand across various verticals.By operating system, the market has been segmented into iOS, Android, and Windows.
The last few years saw major technological advancements in the payment environment.
There is a drastic change in the payment experiences with the introduction of mobile point of sales (M-POS) systems replacing the cash registers.
