This report studies the global POS System market, analyzes and researches the POS System development status and forecast in United States, EU, Japan, China, India and Southeast Asia. This report focuses on the top players in global market.
Global “POS System Market 2020-2023” has been providing up and changing the worldwide economy as far as growth rate, revenue, deal, market proposition, and scope. The Global POS System market Consumption market report is an extensive analysis of this corporate field, which has been established to be one of the most profitable business verticals in futures. The Reportspecifies the complete estimate of Global POS System market business terms, in addition to presenting a brief segmentation of the industry, the expansion opportunities, as well as Key region.
Top-Listed Playersin POS System Market Research Report 2020-2023
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Overview of POS System Market:
The POS systems market is expected to register a CAGR of over 10.9%, during the forecast period of 2020-2023. The report profiles the POS hardware, software, and service providers for various industries.POS systems have evolved from being transaction-oriented terminals/devices to a system that can integrate with the company’s CRM and other financial solutions. This evolution has empowered end users with business intelligence, to better manage their revenue streams and inventory. Owing to these functional benefits that the advanced POS systems offer, companies have replaced their traditional billing software with POS systems, thus augmenting the growth of the POS system market.The POS system market includes POS terminals, in addition to supporting devices, such as barcode scanners, card readers, printer devices, cash drawers, etc. Mobile POS systems that can be integrated with other business solutions, like CRM, are also included under the scope of the report.The growing end-user industries provide significant scope for growth of the market studied, during the forecast period. The need for customer retention and growth of the industries facilitate the growth of POS systems. The rising financial frauds across the globe have influenced the governments and regulatory bodies to secure the payment transactions, in the recent times. With customers demanding safe and reliable digital transactions, the need for secure payment processes has only increased. These regulatory bodies have positively influenced the adoption of POS systems.With the increasing mobility trends across the globe, mobile POS systems are gaining traction. In addition to eliminating long payment lines, mobile POS solutions in the market are capable of tracking inventory and ordering necessary shipments.Cloud-based POS systems are on the rise, compared to the on-premise systems, due to the functional benefits that they offer. According to the Retail Solutions Providers Association (RSPA), around 62% of new merchants prefer cloud-based POS systems, while the remaining opt for on-premise systems.The market studied is fragmented, and comprises POS hardware and accessory providers (such as Epson, Ingenico, VeriFone, etc.,) and cloud-based POS solution providers (such as ShopKeep, Vend, etc.). Technology majors, such as HP, Honeywell, Dell, etc., are offering POS hardware, software, service, and support, in one integrated system.Customer Experience is Top PriorityCustomer engagement by personalization is one of the top priorities for retailers/merchants, as mentioned by Forbes, in its report titled ‘Five Trends Shaping the Future of Customer Experience, 2020’. The other priorities are – adoption of cloud-based systems, augmented reality, etc.Mobile wireless printers, for use with in-store mobile POS systems, make customer engagement easier and are available in the market. Mobile POS systems are being equipped with software that enable communication of customer data with the store’s centralized system.Studies by Revel Systems, a prominent player in the POS system market, mentioned that around 80% of US consumers were willing to shop more in places that offer high-quality customer engagement and experience. According to the Harvard Business Review, increasing customer retention rates by 5% could potentially increase profits from 25% to 95%. On the basis of the technological availability and retailer/merchant benefits, it can be implied that the capabilities of the POS systems are in line with the need the retailers/merchants have to address.Asia-Pacific Estimated to Account for the Largest Share in POS System MarketOwing to the projected rise of digital payments and the growth of the regional retail and hospitality industries, Asia-Pacific is estimated to be the fastest growing region in the POS system market, during the forecast period.According to the non-cash transaction by volume analysis of Capgemini, in emerging Asian regions, cashless transactions are estimated to grow almost three times more than that of global growth, by 2020. The growth of the regional retail industry, with a substantial increase in the number of retail outlets (including shopping malls, mom-and-pop stores, warehouses, and specialty stores) is projected to facilitate the need for better customer experience management, to boost the growth of the business.
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Key Highlights from POS System Market Report 2020.
Revenue and Sales Estimation — Historical Revenue and sales volume is presented and further data is triangulated with top-down and bottom-up approaches to forecast complete market size and to estimate forecast numbers for key regions covered in the report along with classified and well recognized Types and end-use industry. Additionally, macroeconomic factor and regulatory policies are as curtained in POS System industry evolution and predictive analysis.
Manufacturing Analysis —the report is currently analyzed concerning various product type and application. The POS System Market provides a chapter highlighting manufacturing process analysis validated via primary information collected through Industry and Key officials of profiled companies.
Competition — Leading players have been analyzed depending on their company profile, product portfolio, capacity, product/service price, sales, and cost/profit.
Demand and Supply and Effectiveness — POS System Market report additionally provides distribution, Production, Consumption for the complete industry.
POS System MarketTop Regions(regional analysis covers):-
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POS System Market 2020 Report Brief:-
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