A point of Sale (POS) software is used to implement the functions associated with acceptance, processing, storage and transmission of sensitive card data. The software usually works as a cash register that keeps the sales record and allows users to quickly view the sales report as the data is stored in the software on a consistent basis. The market for Point of Sale Software is developing and expanding at a significant pace.
The growth of the market is primarily driven owing to fast remittance, extensive utility of credit and debit cards for transactions and ease of payment process considering the global scenario. Additionally, the escalating adoption of smartphones across the world is further propelling the growth of the market. Moreover, initiatives taken by governments in emerging countries to encourage the acceptance of technology in numerous services such as government services and public transport are anticipated to fuel the market growth in the near future. However, concerns associated with data security are expected to hamper the market growth.
“Global Point of Sale Software Market valued approximately USD 14.58 billion in 2018 is anticipated to grow with a healthy growth rate of more than 13.25% over the forecast period 2019-2026”
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Organization Type:
- Large Enterprises
- Small & Medium Enterprises
- Field Service
The regional analysis of Point of Sale Software Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. In region such as Asia-Pacific, Middle-East and Africa, rise in usage of passenger vehicles set the growth in Point of Sale Software Market over the forecasted period 2019-2026. Asia-Pacific is estimated to hold a prominent share of the Point of Sale Software market. Developing countries, such as India and China, are significant players boosting the demand for the Point of Sale Software Market.
Europe, North America and the Middle East and Africa are continuously witnessing infrastructural growth which fueling the demand of Point of Sale Software Market over the coming years. Asia Pacific region is contributing towards the growth of global Point of Sale Software Market and anticipated to exhibit higher growth rate / CAGR over the forecast period 2019-2026.
The leading Market key players mainly include-
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