According to a research report “POS Security Market by Offering (Solutions and Services), Organization Size (SMEs and Large Enterprises), Vertical (Retail, Restaurants, and Hospitality), and Region (North America, Europe, APAC, MEA, Latin America) – Global Forecast to 2027″ published by MarketsandMarkets, the global POS security market size is expected to grow from an estimated value of USD 4.0 billion in 2022 to USD 6.1 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 8.6% from 2022 to 2027. Growing scale of data breaches that involve POS system compromise and compliance with regulations are some of the factors that are driving the market growth.
Browse and in-depth TOC on “POS Security Market”
140 – Tables
44 – Figures
173 – Pages
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=114467728
By organization size, SMEs to grow at the highest CAGR during the forecast period
SMEs play a key role in most economies, particularly in developing countries. They are important contributors to job creation and the global economic development. According to the World Bank’s report, Small and Medium Enterprises Finance, they represent 90% of the businesses and more than 50% of the employment worldwide. The threat of cybercrime is continuously rising but the general awareness and resilience amongst small and medium enterprises remains low. One of the obstacles faced by SMEs in growing their business in emerging markets and developing countries is finance. SMEs also lack appropriate security measures deployed to their systems. One of the most common forms of cyber-attacks against SMEs are related to payments. The methods to steal the confidential data include through malware and skimming. These attacks aim at exploiting the customers’ personal data and payment data. These factors have contributed to SMEs increasingly adopting POS security solutions. The adoption rate of POS security solutions and services by SMEs is expected to increase over the years.
By vertical, retail segment to hold a larger market size during the forecast period
Retailers are increasingly deploying POS systems to increase the efficiency of their operations. The retail vertical consists of supermarkets/hypermarkets, grocery stores, specialty stores, convenience stores, gas stations, discount stores, department stores, among others. Greater convenience comes through better connectivity between retailers and customers across multiple checkpoints. However, growing intensity of cyber threats along with the pressure to keep up with the technology innovation has put retailers in a precarious situation. Moreover, regulatory compliances by the central banks and governments of several countries, including the PCI DSS, has prompted the retail trade owners to adopt POS security products and solutions. According to the TrustWave Global Security Report in 2018, the retail industry bagged the ‘most compromised’ industry label. The primary target was the payment card data. POS security vendors are increasingly offering solutions in the retail industry. Tripwire POS threat protection, a part of Tripwire Enterprise, delivers comprehensive POS protection with over 35 policies and 55 tests, and offers early detection, reducing the time for massive damages and the recovery time.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=114467728
By region, Asia Pacific to grow at the highest CAGR during the forecast period
Asia Pacific is expected to be the fastest growing region in the POS security market. APAC experiences substantial security spending owing to the ever-growing threat landscape of the region. Digitalization has been impacting countries in Asia and this effect is set to grow in the aftermath of the Covid-19 pandemic. One of the characteristics of this vast and diverse region is the presence of a large SME sector comprising most enterprises in all the region’s economies. The requirement of large investments acts as a barrier for SMEs to adopt POS security solutions. But factors such as increasing digitalization, high internet usage, and adoption of smartphones are the factors fueling the POS security market. In recent years, Asia Pacific has undergone tremendous economic growth, political transformation, and social change. Organizations in this region are also increasingly focusing on creating better experiences for their users by providing security to their sensitive payment data. Organizations that deal with highly sensitive customer data are increasingly adopting POS security solutions. The governments of the countries in Asia Pacific have also set up regulations and compliances for payment systems including POS terminals, to ensure security.
The key players in the global POS security market include Oracle (US), Micro Focus (UK), NCR (US), Fortinet (US), Verifone (US), PayPal (US), Check Point (US), CardConnect (US), Morphisec (US), Kaspersky (Switzerland), Sophos (UK), Thales (France), Upserve (US), Tripwire (US), Elavon (US), TempusPayment (US), Bluefin (US), SquareUp (US), Acunetix (Malta), Vend (New Zealand), TokenEx (US), BPAPOS (US), TeskaLabs (UK), Clover (US), Helcim (Canada), and Hideez (US).
Browse Adjacent Markets: Information Security Market Research Reports & Consulting
Payment Processing Solutions Market – Global Forecast to 2027
Mass Notification System Market – Global Forecast to 2026
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
MnM Blog: https://mnmblog.org/
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/pos-security.asp