Pune, India, June 08, 2022 (GLOBE NEWSWIRE) -- The global POS market size 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 forecast period 2021-2028. This information is provided by Fortune Business Insights™ in its report titled, “Point of Sale (POS) Market Forecast, 2021-2028”. As per the report, the global market was worth USD 8.71 billion in 2020.
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.
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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 hold a larger share of the market.
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 15.1% |
| 2028 Value Projection | USD 26.61 Billion |
| Base Year | 2020 |
| POS Market Size in 2020 | USD 8.71 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 150 |
| Segments covered | Type, Component, Deployment, End-user and Geography |
| POS Market Growth Drivers | Type, Deployment, End-User, and Region are studied for the Market |
| Rising Inclination toward Non-Cash Transactions amid Users to Boost Market Growth | |
| Groundbreaking Product Unveiling Declarations by Vital Players to Boost Market Growth |
COVID-19 to have Moderate Impression on Point of Sale 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.
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Drivers& Restraints
Rising Inclination Toward Non-Cash Transactions amid Users to Boost Market 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 fulfilment. 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.
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.
| POS Market Segments | By Type
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By Component
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By Deployment
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By End-Users
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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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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
Ground-breaking Product Unveiling Declarations by Vital Players to Boost Market Growth
The fundamental players implement numerous tactics to spur their position in the market as leading companies. An important tactic 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.
Top Players Covered in the Point of Sale 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)
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Major Table of Contents:
- Global Point of Sale Key Players Market Share Insights and Analysis, 2020
- Key Market Insights and Strategic Recommendations
- Companies Profiled
- Overview
- Key Management
- Headquarters etc.
- Offerings/Business Segments
- Key Details
- Employee Size
- Key Financials
- Past and Current Revenue
- Geographical Share
- Business Segment Share
- Recent Developments
- Overview
- Annexure / Appendix
- Global 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 Deployment (USD)
- On-Premises
- Cloud-based
- By End-Users (USD)
- Restaurants
- Retail
- Entertainment
- Others (Gas Stations, Transportation, etc.)
- By Region (USD)
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
- By Type (USD)
- North America Point of Sale 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 Deployment (USD)
- On-Premises
- Cloud-based
- By End-Users (USD)
- Restaurants
- Retail
- Entertainment
- Others (Gas Stations, Transportation, etc.)
- By Country (USD)
- United States
- Canada
- Mexico
- By Type (USD)
- Global POS Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
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