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Global and United States Fuel & Convenience Store POS Market Segmentation by Product (Fixed, Mobile, and Cloud POS); by Deployment {Traditional (Non-SaaS), and Cloud-Based (SaaS)}; by Component (Hardware, Software, and Services); by Application (Inventory, Cash, and Operations Management, Reporting & Analytics, and Others); and by End-Use (Fuel Stations, and Convenience Stores) – Demand Analysis & Opportunity Outlook 2020-2026

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Extensive insights into the Growth of Fuel & Convenience Store POS Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • March 25, 2021: Shift4 Payments, LLC announced that it has been selected as a Payment Processing Partner for all payment transactions at Petco Park of the San Diego Padres.

  • September 21, 2021: Square, Inc. announced that it has launched its services for businesses in France. The launch of the services would benefit businesses of all sizes to expand and enhance their business processes.

Global Fuel & Convenience Store POS Market Highlights Over 2020 - 2026

The global fuel & convenience store POS market is estimated to garner a revenue of USD 7263.6 Million by the end of 2026 by growing at a CAGR of 10.74% over the forecast period, i.e., 2021 – 2026. Moreover, in the year 2020, the market registered a revenue of USD 3992.3 Million. The growth of the market can be attributed to growing number of convenience stores worldwide, and the rising sales of these stores, followed by the need amongst the fuel and convenience stores to adopt point of sale (POS) systems. According to the statistics by The Association for Convenience & Fuel Retailing (NACS), in the year 2019, the in-store sales of the United States convenience and fuel retailing industry grew by 4.4% to reach USD 251.9 Billion, as compared to USD 242.2 Billion in the year 2018.

Fuel & Convenience Store POS Market GraphMoreover, the surge in cashless transactions, especially during the COVID-19 pandemic, along with the focus of the government of nations worldwide to raise awareness on non-cash transactions, are some of the additional factors anticipated to drive the growth of the market in the coming years. Globally, the volume of non-cash transactions grew by around 15% in the year 2019 from its previous year, reaching a volume count of close to 700 billion transactions. Besides this, the growing sales of point of sale (POS) terminals, along with the rapid advancements in cloud technologies, surge in the penetration of internet, and the increasing sales of smartphones, are some of the additional factors anticipated to contribute to the market growth during the forecast period. According to the statistics by the International Telecommunication Union (ITU), the total number of people using the internet grew from 1.1 Billion in the year 2005 to 3.7 Billion in the year 2018, and was further estimated to be around 4.0 Billion in the year 2019. CLICK TO DOWNLOAD SAMPLE REPORT

Population Using the Internet Graph

United States Fuel & Convenience Store POS Market Regional Synopsis

The fuel & convenience store POS market in the United States is anticipated to generate a revenue of USD 558.8 Million by the end of 2026, up from a revenue of USD 403.9 Million in the year 2020. The market in the country is further projected to grow with a CAGR of 5.63% during the forecast period. One of the major factors anticipated to drive the growth of the market in the country is the growing number of convenience stores and for the fact that majority of these stores are single-store operators. As a result, for increasing the effectiveness of the stores, especially during peak hours, there is a growing need amongst businesses to deploy POS systems, which in turn, is anticipated to contribute to the market growth during the forecast period. In the other statistics by NAICS, the total number of convenience stores in the United States grew from 146341 numbers in the year 2011 to 154958 numbers in the year 2018.

Total Number of Convenience Stores Image

Growth Drivers and Challenges Impacting the Growth of the Global and United States Fuel & Convenience Store POS Market

Growth Drivers

  • Growing Number of Fuel & Convenience Stores
  • Increasing Cashless Transactions

Challenges

  • Rising Concerns for Data Privacy
  • Technical Challenges

Global and United States Fuel & Convenience Store POS Market Segmentation Synopsis

The global and United States fuel & convenience store POS market is segmented by product into fixed POS, mobile POS, and cloud POS. Out of these, globally, the fixed POS segment is expected to generate the largest revenue of USD 3683.4 Million by the end of 2026, up from a revenue of USD 2148.8 Million in the year 2020. The segment is further anticipated to grow with a CAGR of 9.64% during the forecast period. The mobile POS segment, on the other hand, is anticipated to attain the fastest growth of 2.0X and further grow with the highest CAGR of 12.53% during the forecast period. By deployment, the market is segmented into traditional (non-SaaS), and cloud-based (SaaS), out of which, the cloud-based (SaaS) segment is anticipated to grow with the highest CAGR of 11.48% during the forecast period. By component, the market is segmented into hardware, software, and services. Out of these, the hardware segment is expected to generate the largest revenue of USD 4119.9 Million by the end of 2026, and further grow with a CAGR of 9.89% during the forecast period. By application, the market is segmented into inventory management, cash management, operations management, reporting & analytics, and others. Out of these, the operations management segment is anticipated to generate the largest revenue of USD 2670.8 Million by the end of 2026. The market is also segmented by end-use into fuel stations, and convenience stores. Out of these, the convenience stores segment is expected to grow with the highest CAGR of 11.22% during the forecast period.

Key Companies Dominating the Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global and United States fuel & convenience store POS market that are included in our report are Square, Inc., Fujitsu Limited, Bridge SMS Retail Solutions (AM/PM Systems Inc.), Clover Network, Inc., NCR Corporation, VeriFone, Inc., Gilbarco Inc., Oracle (MICROS), H&L POS, Petrosoft LLC, Shift4 Payments, LLC, and others.

Key Reasons to Buy Our Report

  • The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
  • It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
  • The report includes detailed company profiles of the major players dominating the market.
  • We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
  • We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

FREQUENTLY ASKED QUESTIONS

Global and United States Fuel & Convenience Store POS Market TOC

  1. Market Definition
    1. Definition
    2. Segmentation
  2. Assumptions and Acronyms
  3. Research Methodology
    1. Research Process
    2. Primary Research
    3. Secondary Research
    4. Market Size Estimation
  4. Executive Summary – Global Fuel and Convenience Store POS Market
  5. Market Dynamics
    1. Market Drivers
    2. Market Trends
  6. Key Market Opportunities
  7. Major Roadblocks for the Market Growth
  8. Regulatory and Standards Landscape
  9. Industry Risk Analysis
  10. Industry Growth Outlook
  11. Feature Analysis
  12. Competitive Positioning
  13. Cloud Based (SaaS) vs Traditional (Non-SaaS) Cost Analysis – 2020
  14. Competitive Landscape
    1. Market Share Analysis, 2020
      1. Global Market Share Analysis
      2. United States Market Share Analysis
    2. Competitive Benchmarking
    3. Company Profiles
      1. Square, Inc.
      2. Fujitsu Limited
      3. Bridge SMS Retail Solutions (AM/PM Systems Inc.)
      4. Clover Network, Inc.
      5. NCR Corporation
      6. VeriFone, Inc.
      7. Gilbarco Inc.
      8. Oracle (MICROS)
      9. H&L POS
      10. Petrosoft LLC
      11. Shift4 Payments, LLC
  15. Global Fuel and Convenience Store POS Market 2020-2026
    1. Market Overview
    2. By Value (USD Million)
    3. By Volume (Thousand Units)
  16. Global Fuel and Convenience Store POS Market – Segmentation Analysis 2020-2026
    1. Product
      1. Fixed POS, 2020-2026F (USD Million) (Thousand Units)
      2. Mobile POS, 2020-2026F (USD Million) (Thousand Units)
      3. Cloud POS, 2020-2026F (USD Million) (Thousand Units)
    2. Deployment
      1. Traditional (Non-SaaS), 2020-2026F (USD Million) (Thousand Units)
      2. Cloud-Based (SaaS), 2020-2026F (USD Million) (Thousand Units)
    3. Component
      1. Hardware, 2020-2026F (USD Million) (Thousand Units)
      2. Software, 2020-2026F (USD Million) (Thousand Units)
      3. Services, 2020-2026F (USD Million) (Thousand Units)
        1. Managed Services, 2020-2026F (USD Million) (Thousand Units)
        2. Professional Services, 2020-2026F (USD Million) (Thousand Units)
    4. Application
      1. Inventory Management, 2020-2026F (USD Million) (Thousand Units)
      2. Cash Management, 2020-2026F (USD Million) (Thousand Units)
      3. Operations Management, 2020-2026F (USD Million) (Thousand Units)
      4. Reporting and Analytics, 2020-2026F (USD Million) (Thousand Units)
      5. Others, 2020-2026F (USD Million) (Thousand Units)
    5. End-Use
      1. Fuel Stations, 2020-2026F (USD Million) (Thousand Units)
      2. Convenience Stores, 2020-2026F (USD Million) (Thousand Units)
  17. United States Fuel and Convenience Store POS Market – Segmentation Analysis 2020-2026
    1. Market Overview
    2. By Value (USD Million)
    3. By Volume (Thousand Units)
    4. Segmentation Analysis By:
      1. Product
        1. Fixed POS, 2020-2026F (USD Million) (Thousand Units)
        2. Mobile POS, 2020-2026F (USD Million) (Thousand Units)
        3. Cloud POS, 2020-2026F (USD Million) (Thousand Units)
      2. Deployment
        1. Traditional (Non-SaaS), 2020-2026F (USD Million) (Thousand Units)
        2. Cloud-Based (SaaS), 2020-2026F (USD Million) (Thousand Units)
      3. Component
        1. Hardware, 2020-2026F (USD Million) (Thousand Units)
        2. Software, 2020-2026F (USD Million) (Thousand Units)
        3. Services, 2020-2026F (USD Million) (Thousand Units)
          1. Managed Services, 2020-2026F (USD Million) (Thousand Units)
          2. Professional Services, 2020-2026F (USD Million) (Thousand Units)
      4. Application
        1. Inventory Management, 2020-2026F (USD Million) (Thousand Units)
        2. Cash Management, 2020-2026F (USD Million) (Thousand Units)
        3. Operations Management, 2020-2026F (USD Million) (Thousand Units)
        4. Reporting and Analytics, 2020-2026F (USD Million) (Thousand Units)
        5. Others, 2020-2026F (USD Million) (Thousand Units)
      5. End-Use
        1. Fuel Stations, 2020-2026F (USD Million) (Thousand Units)
        2. Convenience Stores, 2020-2026F (USD Million) (Thousand Units)

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