November 7, 2019 by Market-NewsFlash
Global POS Software Market Research Report: by Component (Software, Service), by Type (Fixed POS, Mobile POS), by Deployment (On-Cloud, On-Premise), by Operating System (iOS, Android, Windows), by Application (Inventory Tracking, Sales Reporting, Purchasing Management, Customer Engagement, Others), by End-User ( BFSI, Retail, Media & Entertainment, Transportation, Hospitality, Others), by Region (North America, Europe, Asia-Pacific, Middle East and Africa, South America) — Forecast till 2025
The global POS software market was valued at USD 14.10 billion in 2018; it is estimated to reach USD 34.77 billion by 2025 growing at a CAGR of 14.27% during the forecast period 2019–2025. Market Research Future (MRFR) has segmented the POS software market on the basis of component, type, deployment, operating system, application, end-user, and region.
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.
The geographic analysis of POS software market has been done for North America (the US, Canada, and Mexico), Europe (Germany, the UK, France, Spain, Norway, Benelux, and Italy), Asia-Pacific (China, Japan, India, South Korea, Australia, Malaysia, Indonesia, and the Philippines), Middle East and Africa (Saudi Arabia, Israel, Turkey, and South Africa) and South America (Brazil, Peru, Chile, and Argentina).
North America is currently dominating the global POS software market. The US followed by Canada is currently leading the market as the country has been the earliest adopter of advanced technologies. Additionally, well-established network infrastructure, developed economy, and increasing demand for POS terminals are driving the growth of POS software market in the US. Furthermore, the region houses the majority of the key players who are focused on developing POS solutions to meet the consumer demand which is contributing to the growth of POS software market in the region.
Europe holds a significant share in the global POS software market. Increasing number of initiatives by the European government to reduce dependency on cash payments and digitalize the payment process and replacement of non-EMV Master, Visa and Europe POS terminals with PCI-compliant EMV POS terminals to reduce fraudulent activities is driving the growth of POS software market in Europe. Furthermore, growing adoption of cloud-based POS solutions has significantly increased the demand in the region.
Asia-Pacific region is projected to grow at the fastest CAGR in the global POS software market. Increasing demand for POS terminals across retail and hospitality sectors and increasing popularity and ease of cashless transactions is driving the market growth. Furthermore, the growing number of SMEs across the region which demands cloud-based POS software is further contributing to the market growth.
The Middle East and Africa and South America are expected to grow at a steady pace in the POS software market. Growing demand across enterprises in the region to streamline the transaction process, increasing government initiatives regarding secure payment transaction, and rising adoption of mobile POS solution to improve customer engagement, customer satisfaction ratio, and customer experience is expected to increase the demand for POS software.
MRFR has considered Microsoft Corporation (US), Toast Inc (US), Square Inc (US), TouchBistro Inc (Canada), Poster POS (Ukraine), Vend (New Zealand), Miva, Inc (US), Lightspeed (Canada), Shopify (Canada), Salesforce.com, Inc (US), Intuit (US), Bindo POS (US), Erply (US), GOFRUGAL (Dubai), Toshiba Corporation (Japan), PAX Global Technology Limited (Hong Kong), Panasonic Corporation (Japan), Intel Corporation (US), and HP Inc (US) as some of the key players in the Global POS Software Market.
Brows full report @ https://www.marketresearchfuture.com/reports/pos-software-market-8384
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