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Point of Sale Software Market 2021 Global Industry Future Trends, Growth, Strategies, Size, Share, Segmentation, In-depth Analysis Research Report by Forecast to 2024

Kenneth Research has recently added a market research study on Point of Sale Software Market 2024 which provides a complete comprehensive analysis including the data by Segmentations, by Geography and as well as the competitive landscape of the top 10 Vendors in this market

In 2018, the worldwide GDP stood at USD 84,740.3 Billion as compared to the GDP of USD 80,144.5 Billion in 2017, marked a growth of 5.73% in 2018 over previous year according to the data quoted by International Monetary Fund. This is likely to impel the growth of Point of Sale Software Market over the period 2019-2026. As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017.

In this sector, the ICT services account for the major share as it is predicted to be ten times larger than the share held by ICT manufacturing. ICT services consist of computer programming, consultancy and related activities which held about 49.1% share while the telecommunications activities held around 30.3% share in the segment in 2017. These factors are estimated to impact the market growth in a positive manner in the next few years.

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The Global POS Software Market was valued at USD 14.10 billion in 2018 and is expected to reach USD 34.77 billion by 2025 growing at a CAGR of 14.27% during the forecast period, 2019–2025.

POS software or point-of-sale software is a solution used in combination with POS hardware terminals such as cash registers, credit and debit card processing equipment, special terminals, displays, optical scanners, and magnetic card readers. The POS software system is capable of analyzing the inventories, sales reports, and other parameters and offering a graphical and pictorial representation to facilitate business insights. This helps the vendors to simplify its business operations, increase employee productivity, operational efficiency, and customer satisfaction.

The Final Report will cover the impact analysis of COVID-19 on this industry:

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Increasing adoption of smartphones, tablets, and other smart handheld devices, changing payment options which include the growing use of debit cards, credit cards, and other digital payment wallets, and government support fueling the development of high-speed networks such as 3G, 4G, and 5G are some of the major factors driving the growth of POS software market. Rising demand among retailers, restaurants, hotels, resorts, groceries/supermarkets, and cafes to manage entire business operations such as sales, inventories, customer loyalty, and marketing from a single platform have created a significant demand for POS systems. POS software with payment gateways help businesses to improve customer engagement, customer satisfaction ratio, and the overall customer experience.

The market is expected to offer growth opportunities owing to the rising adoption of contactless payment solutions and integrating AI technology with the software. However, growing data security concerns are a major restraining factor for the market. Emerging technologies such as IoT and machine learning have a significant impact on the POS software market. AI integrated POS software, mobile POS system, personalized shopping experience, and cloud-based POS software are some of the recent trends prevailing in the POS software market.

Key Players:

The prominent players active in the global market of POS software are 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).

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Source: Company websites, Annual Reports, Secondary research, Press Releases, Paid Database, Expert interviews, White papers, Journals, Case Studies, MRFR Analysis

Segmentation

The global POS software market has been segmented on the basis of component, type, deployment, operating system, application, end-user, and region.By component, the market has been segmented into software and services.By type, the market has been segmented into fixed POS and mobile POS.By deployment, the market has been segmented into on-cloud and on-premise.By operating system, the market has been segmented into iOS, Android, and Windows.

By application, the market has been segmented into inventory tracking, sales reporting, purchasing management, customer engagement, and others.By end-user, the market has been categorized into BFSI, retail, media & entertainment, transportation, hospitality, and others.By region, the market has been segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.

Regional Analysis

Market Research Future (MRFR) has covered the following countries in the regional analysis of POS software market: the US, Canada, and Mexico in North America. Germany, the UK, France, Spain, Norway, Benelux, and Italy in Europe. China, Japan, India, South Korea, Australia, Malaysia, Indonesia, and the Philippines in Asia-Pacific. Saudi Arabia, Israel, Turkey, and South Africa in the Middle East & Africa; and Brazil, Peru, Chile, and Argentina in South America.

North America currently dominates the global POS software market. The region is an early adopter of new technologies and hub to a number of POS software providers. The US, among all the countries in the region, accounts for the largest market share owing to highly skilled expertise and research and development capabilities, aiming at developing AI sourcing tools for enhancing the quality of hiring process, which has propelled the market growth of POS software in the country. Europe follows North America; it is expected to have a considerable market share in the global POS software market. Growth in the hospitality sector across Europe which increases the demand for POS software for restaurants, resorts, and other end users is driving the market growth in the region.

Asia-Pacific is projected to be the fastest-growing region during the forecast period. Growing retail and e-commerce sectors and government initiatives supporting digital payments are increasing the demand for POS software for small businesses. Furthermore, increasing adoption of cloud-based point of sale software has accelerated the demand for POS software systems in the region. The global POS software market in the Middle East & Africa and South America is also expected to grow at a considerable rate during the forecast period due to the rising penetration of smart devices which increases the demand for pos software for pc.

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Intended Audience

POS software providers
Investors and consultants
Research/Consultancy firms
Technology solution providers
Government agencies
Software vendors
Retail Enterprises
Payment gateway service provider
Cloud service providers
E-commerce vendors
POS system developers

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