Pune, April 10, 2023 (GLOBE NEWSWIRE) -- A global Information Technology & Telecommunication business consulting firm, Maximize Market research, has published a market intelligence and competitive landscape report on the “POS Security Market”. The report is a combination of primary data and secondary data and domain expert has analyzed the POS Security Market from global point and regional standpoint. Over the forecast period, Maximize Market research expects, the market to grow from USD 4.33 Bn in 2022 to USD 9.15 Bn in 2029 at a CAGR of 11.28 percent.
POS Security Market Report Scope and Research Methodology
| Market Size in 2021 | USD 4.33 Bn. |
| Market Size in 2029 | USD 9.15 Bn. |
| CAGR | 11.28 percent (2023-2029) |
| Forecast Period | 2023-2029 |
| Base Year | 2022 |
| Number of Pages | 281 |
| No. of Tables | 116 |
| No. of Charts and Figures | 115 |
| Segment Covered | Product, Type, Application and End-User |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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The POS Security Market report includes a comprehensive analysis of emerging trends, market drivers, growth opportunities, and major restraints in the industry. It also provides a detailed analysis of the major segments of the POS Security Market with their sub-segments. The report covers historical data for understanding the past trends and forecasting future trends in the POS Security industry. To understand the structure of the market and the prevailing competition in the industry, a thorough regional and competitive analysis of the POS Security Market is covered in the report. The competitive landscape includes key players of the market along with new entrants. Regional analysis of the market is covered at global, regional and at a country level for understanding the market penetration, dominant players and growth strategies used by them.
The bottom-up approach was used to estimate the global and regional POS Security Market size. The main research methodology used by the Maximize Market Research team is data triangulation which involves data mining, analysis of the impact of data variables on the POS Security Market, and primary (industry expert) validation. The report includes extensive use of secondary sources directories and databases such as Bloomberg, Hoovers, Statista and other government associations. The company websites and private websites have also been used to identify and collect information useful for the technical, market-oriented and commercial study of the POS Security Market. To provide strengths, weaknesses, opportunities and threats in the POS Security Market, a SWOT analysis was used. PESTLE was employed to understand the potential impact of the micro-economic and macro-economic factors affecting the POS Security Market.
POS Security Market Overview
Global point of sale (POS) security market includes solutions, technologies, and services that protect POS systems from cyber-attacks and threat. POS systems are used by businesses to process financial transactions, and they contain sensitive customer data, such as credit card information, making them an attractive target for cybercriminals.
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POS Security Market Dynamics
The global market for POS security is expected to continue to grow during the forecast period, driven by the growing use of electronic payment systems and the rising need for businesses to protect their POS systems from cyber threats and ensure compliance with regulatory standards. POS security solutions are being designed with user-friendliness in mind, to make it easier for businesses to implement and manage security measures. This is expected to help to increase adoption rates and ensure that businesses are able to effectively protect their POS systems from cyber threats.
Nevertheless, there are also some challenges facing the POS security market, including the high cost of implementing and maintaining POS security solutions, the complexity of integrating these solutions with existing POS systems, and the difficulty of keeping up with evolving cyber threats.
POS Security Market Regional Insights
In 2022, North American region held the largest market share of 34.85% and dominated the global POS security market. The region has a highly developed retail industry, which is a major user of POS systems, and there is a high level of awareness of the risks of cyberattacks targeting POS systems. The regulatory environment in North America is also strict, with the PCI DSS requiring businesses to comply with strict security standards for processing credit and debit card transactions.
APAC is expected to grow at the highest rate in the coming years, owing to the growing adoption of POS systems in emerging economies like China and India. The region has a large and rapidly rising retail industry, which is driving the adoption of POS systems, and there is a increasing awareness of the risks of cyberattacks targeting these systems.
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POS Security Market Segmentation
By Product
- Solution
- Services
In 2022, Services segment is estimated to account for 66 percent of the total market share. It consists of a number of services necessary for distributing, implementing, and maintaining POS security solutions in businesses. Customers are assisted in using and maintaining POS security solutions by the services offered by vendors in the market for POS security.
By Type
- On-Premise
- Cloud
By Application
- Large Enterprises
- Small and Medium-sized Enterprises
By Industry Vertical
- Retail
- Hospitality
- Entertainment
- Healthcare
- Transportation
- Others.
The retail industry is expected to hold the largest share of the POS security market, thanks to the growing adoption of POS systems in retail stores & the high risk of cyber threats and attacks in retail industry. The healthcare industry is also expected to grow at a significant rate, owing to the growing use of electronic health records and the sensitive nature of the data that is stored in these systems.
POS Security Market Key Competitors include:
- Acunetix
- Bluefin
- BPAPOS
- CardConnect
- Check Point
- Clover
- Elavon
- Fortinet
- Helcim
- Hideez
- Kaspersky
- Micro Focus
- Morphisec
- NCR
- Oracle
- PayPal
- Sophos
- SquareUp
- TempusPayment
- TeskaLabs
- Thales
- TokenEx
- Tripwire
- Upserve
- Vend
- Verifone
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by Product, Type, Application, End-User and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Key questions answered in the POS Security Market are:
- What is the growth potential of the POS Security Market?
- What was the POS Security Market size in 2021?
- What are the global trends in the POS Security Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for POS Security Market?
- How is the intervention from regulatory authority is shaping the POS Security Market?
- What growth strategies are the players considering to increase their presence in the POS Security Market?
- Who are the leading companies and what are their portfolios in POS Security Market?
- What are the major challenges posed to POS Security Market?
- Who held the largest market share in POS Security Market?
Maximize Market Research is leading Information Technology and Telecommunication research firm, has also published the following reports:
Point of Sale (PoS) Software Market- The market is expected to grow from USD 9.20 Bn at a CAGR of 10.1 percent during the forecast period and market is expected to reach USDD 19.49 Bn. by 2029. POS software with payment gateways helps businesses to improve customer engagement, customer satisfaction ratio, and the overall customer experience.
Restaurant Point-Of-Sale Terminal Market- The market was valued at USD 16.83 Bn. in 2021 and is estimated to grow at a CAGR of 6.4 percent reaching USD 24.42 Bn over the forecast period. Increased demand for portable restaurant Point-Of-Sale terminals due to their compact size and portability to support market continuity.
Payment Security Market- The market was worth USD 20.45 Mn. in 2021 and total revenue is expected to grow at a rate of 16.2 percent CAGR from 2022 to 2029, reaching almost USD 67.97 Mn. The demand for payment security solutions is increasing. Payment security solutions' increasing popularity can also be related to the needs of the Payment Card Industry Data Security Standard (PCI DSS) rules, increased end-user knowledge of payment security, and government attempts to promote cashless payments.
Security Screening Market- The market size was USD 7.31 Bn in 2021 and is expected to reach USD 10.89 Bn by 2029, at a CAGR of 5.10 percent during the forecast period. Growing technological advancements in 3D technology for checkpoint security is propelling the growth of the market.
Crypto Payment Gateway Market- The market is expected to hit USD 4.12 Bn by 2029 from USD 1.19 Bn. in 2021 at a CAGR of 16.8 percent during the forecast period. The Crypto Payment Gateway Market report states that flaws in the banking system are expected to become opportunities for Crypto Payment Gateway Market.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
