Pune, India, Feb. 15, 2022 (GLOBE NEWSWIRE) -- The global Point of Sale (POS) Market size was USD 8.71 billion in 2020. The market is anticipated to reach from USD 9.95 billion in 2021 to USD 26.61 billion by 2028 at a CAGR of 15.1% during the 2021-2028 period. This information is provided by Fortune Business Insights™ in its report titled, “Point of Sale (POS) Market, 2021-2028.”
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According to our researchers, the number of smartphone users is also rising each year. Consumers are inclining toward using e-wallets and mobile payment as they offer more suitability and flexibility in payment option over carrying huge wallets, credit and debit cards everywhere.
Top Players Covered in the Point of Sale (POS) Market are:
- Ingenico Group (Paris, France)
- NCR Corp. (Georgia, U.S.)
- VeriFone Systems, Inc. (California, U.S.)
- Revel System, Inc. (California, U.S.)
- PAX Technology (Shenzhen, China)
- Oracle(Texas, U.S.)
- HP Inc. (California, U.S.)
- Lightspeed (Montreal, Canada)
- Square, Inc. (California, U.S.)
- Fujitsu (Tokyo, Japan)
COVID-19 Impact
COVID-19 to have ModerateImpression on Point of Sale (POS) Market Growth
The COVID-19 pandemic has made governments around the globe tackle prime contests in maintaining the safety and protection of their cities as well as embracing inventive digital technologies. The steps initiated by governments to avert the spread of the virus are extraordinary. During the COVID-19 pandemic, the commercial business sector, which encompasses retail stores and restaurants, is experiencing several challenges, such as administering the health of the workforce and guaranteeing optimal business operations.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/point-of-sale-pos-market-106336
Segmentation
Type, Deployment, End-User, and Region are studied for the Market
Based on type, the market is divided into fixed POS and mobile POS. In terms of components, it is segregated into hardware, software, and services. On the basis of deployment, it is classified into on-premise and cloud-based. By end-user, it is categorized into restaurants, retail, entertainment, and others. Among these, the retail segment holds the largest market share due to the growing adoption of point of sale systems in retail shops, as it offers a track of real-time data about sales performance. Region-wise, it is studied across North America, Europe, Asia Pacific, the Middle East & Africa, and South America
Report Scope and Segmentation-
| Report Coverage | Details |
| Forecast Period | 2021to 2028 |
| Forecast Period 2020 to 2028 CAGR | 15.1% |
| 2028 Value Projection | USD 26.61 billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 8.71 billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 150 |
| Segments covered | By Type, By Component, By Deployment, By End User, By Geography |
| Growth Drivers | Growing Interest in Non-Cash Transactions among Consumers to Drive Market Growth |
| Pitfalls & Challenges | Data Security Concerns Might Hamper Market Growth |
Report Coverage
We offer our reports, which are directed with an all-inclusive examination approach that primarily accentuates on offering accurate material. Our scholars have used a data navigation method, which further helps us to offer reliable approximations and test the general market dynamics correctly. Additionally, our analysts have gained access to various international as well as domestically funded registers for delivering the up-to-date material so that the stakeholders and business experts can capitalize their money only in fundamental zones.
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Drivers& Restraints
RisingInclinationtoward Non-Cash Transactions amidUsers to BoostMarket Growth
Digital transformation is powered by rising digitization, connectivity as well as data. This transformation is being conducted across industries to create novel services, refine operational proficiencies, and enrich customer fulfillment. Acceptance of electronic payment process has amplified the demand for point of sale systems as it comprises protection, flexibility, precise money management, and abolishes human errors by minimalizing human intrusion for billing.
Regional Insights
North America is anticipated to lead the market in terms of revenue during the forecast period. The prompt progression and implementation of developing technologies and vital players are projected to navigate the market growth across the region.
Asia Pacific is estimated to be the quickest emerging region in the future. The rising implementation of electronic payment, prompt urbanization, and the huge population of the continent is predicted to be the vital factors driving the Asia Pacific market growth.
Europe accounts for a significant amount of the point of sale market share, owing to = growing capitalization by retail stores and restaurants to refine inventory regulation, track sales by individual employees, and administer taxes.
Competitive Landscape
Groundbreaking Product UnveilingDeclarations by Vital Players to Boost Market Growth
The fundamental players implement numerous tactics to spur their position in the market as leading companies. Animportanttactic is procuring companies to elevate the brand value among users. Another operative stratagem is intermittently unveiling innovative products with a methodical study of the market and its target audience.
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Industry Development
June 2021: Oracle procured GloriaFood, an online marketing and ordering platform, to extend its Oracle Micros Simphony Cloud POS platform and holda larger share of the market.
Table of Content
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Key Takeaways
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints,Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Point of Sale (POS) Key Players Market Share Insights and Analysis, 2020
- Key Market Insights and Strategic Recommendations
- Companies Profiled(Covered for key 10 players only)
- Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details (Subjected to data availability in public domain and/or on paid databases)
- Employee Size
- Key Financials
- Past and Current Revenue
- Geographical Share
- Business Segment Share
- Recent Developments
- Overview
- Annexure / Appendix
- Global Point of Sale (POS) Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- By Type(USD)
- Fixed POS
- Mobile POS
- By Component(USD)
- Hardware
- Software
- Services
- By Type(USD)
- Global Point of Sale (POS) Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
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