New York, USA, April 19, 2023 (GLOBE NEWSWIRE) -- Research Dive has published a new report on the NA and EMEA POS software market. According to the report, the market is projected to surpass $21,140.1 million and grow at a CAGR of 12.7% in the estimated period, 2022–2031. This all-inclusive report delivers a comprehensive overview of the current and future situation of the NA and EMEA POS software market by stating its main characteristics including growth drivers, growth opportunities, limitations, and developments in the forecast period. The report also offers all the required and vital market statistics to help new players obtain an insight into the status of the market.
Impact of the COVID-19 Pandemic on the NA and EMEA POS Software Market
The outburst of the COVID-19 pandemic in 2020 has had an adverse impact on the growth of the NA and EMEA POS software market. Before the emergence of COVID-19, the digital payments sector experienced significant growth across a variety of end-use industries, primarily retail, hotel, and e-commerce. However, numerous attacks on POS terminals were noted before the pandemic, which ultimately had an impact on the entire POS sector. According to secondary sources, the most common malware families in 2019 were HydraPoS and AbaddonPoS, which accounted for a large portion of all detections. However, after the pandemic occurred, the number of attacks fell drastically from over 8000 in 2019 to 5000 in 2020. These factors significantly hindered the market growth amidst the pandemic.
Factors Impacting the NA and EMEA POS Software Market Growth
The key factor boosting the growth of the NA and EMEA POS software market is a significant rise in the need for POS software owing to using POS software, healthcare practitioners can obtain information about patients' meals as it can accurately retain patients' data. Furthermore, the rising use of data analytics in POS software to handle customer preferences, personal information, and purchase history is estimated to unlock lucrative opportunities for the market growth in the forecast period. However, the time-consuming process of resolving technological challenges, such as software or hardware failures, is anticipated to deter the market’s growth.
The report segments the NA and EMEA POS software market into application, deployment mode, end user, organization size, and region.
Mobile POS Sub-Segment to Grab a Foremost Share of the Market
The mobile POS sub-segment of the application segment is foreseen to observe leading growth in the forecast period. This growth is mainly because mobile POS is allowing more firms to move beyond traditional POS software.
Cloud Sub-Segment to Witness Rapid Growth
The cloud sub-segment of the deployment mode segment is predicted to grow enormously in the forecast period. This growth is mainly owed to the increasing adoption of cloud-based POS software, which allows retail stores to process consumer orders quickly and without the need to maintain multiple product records.
Restaurants Sub-Segment to Grab a Foremost Share of the Market
The restaurants sub-segment of the end user segment is foreseen to observe leading growth in the forecast period. This growth is mainly due to the technological improvements in the restaurant sector and the growth in the need for restaurant software, such as those utilized for table management, inventory control, invoicing, and payment.
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Large Enterprises Sub-Segment to Witness Rapid Growth
The large enterprise sub-segment of the organization size segment is predicted to grow enormously in the forecast period. This growth is mainly due to factors such as enhanced service timing, order accuracy, effective management operations relevant to restaurants and bars, a shift towards a cloud database, and real-time monitoring of sales and generating reports.
EMEA POS Market to Perceive Maximum Growth
The report analyzes the NA and EMEA POS software market across several regions such as North America and EMEA. Among these, the EMEA market is projected to observe significant growth in the estimated period. This growth is mostly owing to a rise in technological advancements and an increase in the adoption of POS software.
Key Players of the NA and EMEA POS Software Market
The report states some of the foremost players operating in the market including
- GK Software SE
- Enactor Limited
- NCR Corporation
- Aptos LLC
- Sitoo
- Diebold Nixdorf
- Oracle Corporation
- Incorporated
- Fujitsu
- Enactor Limited
- Toshiba Corporation
These players are taking various initiatives such as investing in novel product launches, strategic alliances and collaborations, etc. to obtain a leading edge in the market.
For instance, in September 2022, Adyen, a Dutch payment firm with the status of an acquiring bank that let companies take payments via e-commerce, mobile, and point-of-sale, launched two POS terminals — the NYC1 and AMS1.
Also, the report provides numerous industry insights such as top strategic initiatives & developments, the novel launch of products, business performance, Porter’s five forces analysis, and SWOT analysis of the foremost players functioning in the market.
More about NA and EMEA POS Software Market:
- How do Recent Innovations in POS Systems Deliver New Level Capabilities to Various End-Use Industries?
- Increasing Popularity of Point-Of-Sale Software across the Retail and Restaurant Sector to Boost the Growth of the NA and EMEA POS Software Market
