Selbyville, Delaware,, Nov. 10, 2022 (GLOBE NEWSWIRE) --
Point of Sale Software Market valuation is expected to cross USD 31 billion by 2032, as reported in a research study by Global Market Insights Inc.
The rise in consumer inclination toward card-based transactions, high adoption of network-connected smart devices, and mounting demand for mobile point-of-sale terminals have all contributed to a growth in the adoption of POS software by varied end-user industries. Additionally, the increased need for personalized offers and recommendations for food, drink, and items, particularly in the entertainment sector, is foreseen to drive product penetration in the forthcoming years.
Growing implementation of POS system through retail channels to fuel industry revenue
The retail end-use segment held approximately 34% of the point of sale software market share in 2022. The POS system's expanding use in retail stores will aid business expansion on account of its ability to provide real-time data quickly and inexpensively on sales performance. Additionally, the speedy payment process that results in quick transactions offers better consumer satisfaction, which is likely to aid segment progress.
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Effective resource management to aid MAC OS segment share
The MAC OS segment is projected to showcase robust development at over 17.5% CAGR from 2023 to 2032. The Mac OS manages resources more efficiently than the previous versions of the system. The OS has been optimized to deliver maximum performance on Mac hardware, which is slated to bolster segment uptake.
Rising preference for digital payments to expand billing management market share
The billing management application segment attained more than 37% of the POS software market share in 2022. Retailers are leveraging the benefits of accepting digital payments with the upsurge in e-commerce sales in recent years. The soaring product adoption in the retail sector due to the time- and cost-effectiveness of POS software is speculated to complement the segment outlook. The demand for billing management in the POS software industry is anticipated to increase as cashless transactions gain popularity.
Extensive deployment of POS systems to boost SMEs segment growth
The SMEs segment is set to depict around 17% growth rate through 2032. SMEs are expanding their businesses in different cities and prefer POS software to manage different operations while ensuring an optimal budget for procuring the solution, which is primed to push product utilization by these enterprises in the coming years.
Mounting investments toward infrastructural development to favor South America industry
The South America point of sale software market is estimated to reach USD 3.2 billion by 2032. Increased investments by both private and government organizations to support infrastructure development are advancing digital transformation and thereby impelling product demand. In addition, the growing adoption of digital payment systems by financial institutes and banks is poised to propel regional market expansion.
Strategic collaborations to define the business outlook
The competitive landscape of the POS software market is of inclusive Block Inc, Fujitsu, NCR Corporation, Oracle Corporation, Panasonic Corporation, PAR Tech, PAX Technology, Revel Systems, Samsung Electronics, Co., Ltd., Square, Inc., Toshiba Corporation, and Toast Inc. These companies are engaging in lucrative alliances to enhance their business presence.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 POS software industry 3600 synopsis, 2019 – 2032
2.2 Business trends
2.2.1 Total Adressable Market (TAM), 2023-2032
2.3 Regional trends
2.4 Product trends
2.5 Deployment model trends
2.6 Operating system trends
2.7 Organization size trends
2.8 End-use trends
2.9 Application trends
Chapter 3 POS Software Industry Insights
3.1 Introduction
3.2 Impact of COVID-19 outbreak
3.3 Impact of Russia-Ukraine conflict
3.4 POS software industry ecosystem analysis
3.5 Technology & innovation landscape
3.6 Regulatory landscape
3.7 Industry impact forces
3.7.1 Growth drivers
3.7.2 Industry pitfalls & challenges
3.8 Key initiatives & news
3.9 Patent analysis
3.10 Investment portfolio
3.11 Growth potential analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
