Segmentation by Component (Hardware, Software, and Service); by Type (Fixed, and Mobile); by Deployment Mode (On-Premise, and Cloud); and by End-User Industry (Entertainment, Hospitality, Healthcare, Retail, and Others) – Global Demand Analysis & Opportunity Outlook 2030
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On the basis of geographical analysis, the global point of sale (POS) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the growing number of small and medium sized enterprises, and a rapidly increasing consumer base of POS software. As of July 2020, there are more than 65 million micro, small and medium sized enterprises in the Southeast Asia today that employ about 150 million people and account for almost 98 percent of all the business in the region.
Apart from these, reduction in the total cost of ownership is also projected to fuel the region’s market growth in the coming years. Moreover, the market in North America is expected to gather the largest share during the forecast period ascribing to the high adoption of POS software across several industry verticals, including employment of restaurant POS terminals, and rising usage of cloud-based applications in the region.
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The global point of sale (POS) market is further classified on the basis of region as follows:
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The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.
Our in-depth analysis of the global point of sale (POS) market includes the following segments:
January 2021- NCR Corporation announced the acquisition of Cardtronics, which is aimed at accelerating and expanding the NCR-as-a-service strategy.
November 2019- Ingenico partnered with FinTech Pundi X to enable crypto transactions across the globe. Pundi X declared that it completed the integration of its XPOS software with the Point-Of-Sale (POS) APOS A8 devices of Ingenico.
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Ans: The major factors driving market growth are increasing number of financial frauds globally and rising government initiatives to secure payment transactions.
Ans: The market is anticipated to attain a CAGR of ~9% over the forecast period, i.e., 2022 – 2030.
Ans: Data security concerns associated with use of POS is estimated to hamper the market growth.
Ans: Asia Pacific will provide more business opportunities for market growth owing to the small and medium sized enterprises, and a rapidly increasing consumer base of POS software.
Ans: The major players in the market are Infor Inc., Samsung Electronics Inc., Seiko Epson Corporation, Hewlett Packard Enterprise, NCR Corporation, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by component, type, deployment mode, end-user industry, and by region.
Ans: The fixed segment is anticipated to hold largest market size and is estimated to grow at a notable CAGR over the forecast period and display significant growth opportunities.
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