Market Highlights
The 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.
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 2027, expanding at a CAGR of 14.27% during the forecast period, 2020-2027.
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. Some of the recent trends in the POS software market include AI integrated POS software, mobile POS system, customized shopping experience and cloud-based POS software.
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Segmental Analysis
By component, the POS software market has been segmented into software and services. Among these, currently, the software segment is dominating the market and is projected to be the fastest-growing segment during the forecast period owing to increasing adoption of POS software systems among the retail, hospitality, and other sectors. 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. The software also offers business insights to the user such as reporting and analytics which helps the organization to enhance its operational performance and customer satisfaction. Furthermore, the software also provides customization capabilities which offer flexibility of implementation to the user according to its requirement which is expected to fuel the demand for POS software during the forecast period.
By type, the market has been segmented into fixed POS and mobile POS. Among these, the fixed POS segment is currently dominating the market, whereas mobile POS is projected to be the fastest-growing segment. 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.
By deployment, the market has been segmented into on-cloud and on-premise segments. Among these, the on-premise segment is expected to dominate the market whereas, the on-cloud segment is projected to grow at the fastest CAGR. 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. Among these, the Android is projected to be the fastest-growing operating segment owing to the ease adopted by android platforms to develop POS solutions and increasing adoption of Android-based smart devices.
By application, the POS software market has been segmented into inventory tracking, sales reporting, purchasing management, customer engagement, and others. Among these, currently, the sales reporting segment is expected to dominate the market due to the high adoption of POS systems for managing payments and other transaction processes.
By end-user, the market has been segmented into BFSI, retail, media & entertainment, transportation, hospitality, and others. Among these, the retail segment is expected to dominate the market due to the growing adoption of POS software among retail organizations to simplify the payment and other business operations.
Regional Assessment
By region, the market has been segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. North America has been further segmented into the US, Canada, and Mexico. Europe has been further segmented into Germany, the UK, France, Spain, Norway, Benelux, and Italy. Asia-Pacific has been sub-segmented into China, Japan, India, South Korea, Australia, Malaysia, Indonesia, and the Philippines. The Middle East and Africa have been further segmented into Saudi Arabia, Israel, Turkey, and South Africa and South America has been classified into Brazil, Peru, Chile, and Argentina.
Key Players
The prominent players active in the global market of POS software are Square Inc. (US), Microsoft Corporation (US), Toast Inc. (US), TouchBistro Inc. (Canada), Poster POS (Ukraine), Lightspeed (Canada), Vend (New Zealand), Miva, Inc. (US), Intel Corporation (US), Shopify (Canada), Erply (US), Salesforce.com, Inc. (US), Intuit (US), Bindo POS (US), GOFRUGAL (Dubai), PAX Global Technology Limited (Hong Kong), Toshiba Corporation (Japan), Panasonic Corporation (Japan), and HP Inc. (US).
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Table of Contents
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Market Structure
Continued…
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The 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.
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 2027, expanding at a CAGR of 14.27% during the forecast period, 2020-2027.
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. Some of the recent trends in the POS software market include AI integrated POS software, mobile POS system, customized shopping experience and cloud-based POS software.
Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/8384
Segmental Analysis
By component, the POS software market has been segmented into software and services. Among these, currently, the software segment is dominating the market and is projected to be the fastest-growing segment during the forecast period owing to increasing adoption of POS software systems among the retail, hospitality, and other sectors. 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. The software also offers business insights to the user such as reporting and analytics which helps the organization to enhance its operational performance and customer satisfaction. Furthermore, the software also provides customization capabilities which offer flexibility of implementation to the user according to its requirement which is expected to fuel the demand for POS software during the forecast period.
By type, the market has been segmented into fixed POS and mobile POS. Among these, the fixed POS segment is currently dominating the market, whereas mobile POS is projected to be the fastest-growing segment. 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.
By deployment, the market has been segmented into on-cloud and on-premise segments. Among these, the on-premise segment is expected to dominate the market whereas, the on-cloud segment is projected to grow at the fastest CAGR. 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. Among these, the Android is projected to be the fastest-growing operating segment owing to the ease adopted by android platforms to develop POS solutions and increasing adoption of Android-based smart devices.
By application, the POS software market has been segmented into inventory tracking, sales reporting, purchasing management, customer engagement, and others. Among these, currently, the sales reporting segment is expected to dominate the market due to the high adoption of POS systems for managing payments and other transaction processes.
By end-user, the market has been segmented into BFSI, retail, media & entertainment, transportation, hospitality, and others. Among these, the retail segment is expected to dominate the market due to the growing adoption of POS software among retail organizations to simplify the payment and other business operations.
Regional Assessment
By region, the market has been segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. North America has been further segmented into the US, Canada, and Mexico. Europe has been further segmented into Germany, the UK, France, Spain, Norway, Benelux, and Italy. Asia-Pacific has been sub-segmented into China, Japan, India, South Korea, Australia, Malaysia, Indonesia, and the Philippines. The Middle East and Africa have been further segmented into Saudi Arabia, Israel, Turkey, and South Africa and South America has been classified into Brazil, Peru, Chile, and Argentina.
Key Players
The prominent players active in the global market of POS software are Square Inc. (US), Microsoft Corporation (US), Toast Inc. (US), TouchBistro Inc. (Canada), Poster POS (Ukraine), Lightspeed (Canada), Vend (New Zealand), Miva, Inc. (US), Intel Corporation (US), Shopify (Canada), Erply (US), Salesforce.com, Inc. (US), Intuit (US), Bindo POS (US), GOFRUGAL (Dubai), PAX Global Technology Limited (Hong Kong), Toshiba Corporation (Japan), Panasonic Corporation (Japan), and HP Inc. (US).
Browse Full Report Details @ https://www.marketresearchfuture.com/reports/pos-software-market-8384
Table of Contents
1 Executive Summary
2 Scope of The Report
2.1 Market Definition
2.2 Scope of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Market Structure
Continued…
Similar Report:
Application Management Services Market: By Service-Type (System Integration, Consulting Services, Modernization Services, And Others), By Organization Size, By Deployment, And By End-Users
Open Source Intelligence (OSINT) Market: By Security Type (Human Intelligence, Content Intelligence, Dark Web Analysis, Link/Network Analysis, Data Analytics, Text Analytics, Artificial Intelligence, Big Data, Others), Technology (Bid Data Software, Video Analytics, Text Analytics, Visualization Tool, Cyber Security, Web Analysis, Social Media Analysis, Others), Application (Military & Defense, Homeland Security, Private Sector, Public Sector, National Security, Others)
About Market Research Future
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Contact
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
- 1 628 258 0071 (US)
- 44 2035 002 764 (UK)
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