Europe POS Software Market to Grow at a CAGR of 9.2% to reach US$ 6,308.14 million from 2021 to 2028.

Europe POS Software Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Software and Services), Deployment (On Premise and Cloud), Application (Inventory Tracking, Purchasing Management, Sales Reporting, Customer Engagement, Booking System, Payroll and Team Management, and Others), Enterprise Size (Small Enterprises, Medium Enterprises, and Large Enterprises), and End User (Retail and Consumer Goods, Restaurants, Hospitality, Media and Entertainment, Transportation and Logistics, Healthcare, and Others)

Publication Month : Feb 2022

  • Report Code : TIPRE00009829
  • Category : Technology, Media and Telecommunications
  • Status : Published
  • No. of Pages : 185
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The Europe POS software market is expected to grow from US$ 3,405.81 million in 2021 to US$ 6,308.14 million by 2028; it is estimated to grow at a CAGR of 9.2% during 2021–2028.

Increasing need for customer-centric solutions and services propel the demand for cost-efficient and value-added services. POS software is a cost-effective approach for businesses and customers. POS software is used in various applications, such as inventory management, sales management, store operations, order and promotion management, purchase and re-order, secured payments, customer loyalty programs, creating reports, and real-time data analysis. Moreover, the software cloud reduces service costs while improving service offerings. Vendors of POS software are highly focused on offering advanced solutions and services to their customers, significantly driving the growth of the Europe POS software market.

Impact of COVID-19 Pandemic on Europe POS Software Market

The government of Europe realized that all businesses, irrespective of their size scale, need assistance during the COVID-19 outbreak. The crisis impacted negatively the business operations of public and private companies in Europe. Russia, the UK, France, Italy, Spain, and Germany are among the worst-affected member states in Europe due to the COVID-19 outbreak. Businesses in the region face severe economic difficulties as they either suspend their operations or substantially reduce their activities. Consumption in sectors such as clothing and goods and services is expected to be temporarily postponed, with spending expected to restart as soon as the restriction for lockdown gets uplifted. However, the software industry is not affected like other industries, such as automotive and manufacturing, since businesses allowed their employees to work from home.

Europe POS Software Market Insights

Growing Concept of Cashless Transaction due to Digitization Fuels Growth of Europe POS Software Market

The governments of countries, such as, the UK, Germany, France, and Belgium, are taking initiatives to promote electronic payments to support economic and social goals. The providers of advanced POS software are taking advantage of this factor to offer a smooth and secure cashless payment platform. The retail and restaurant segment is highly demanding POS software with advanced transaction capabilities. POS software offers various advantages for cashless payments, such as fast and reliable transactions, offline connectivity, standard payment processing rates, secure payments, EMV payments, and responsive customer support. Thereforethe concept of cashless transactions is increasing due to rising digitization, which drives the growth of the Europe POS software market

Component-Based Europe POS Software Market Insights

Based on component, the Europe POS software market is segmented into software and service. POS software is widely used in retail and hospitality businesses. Appropriate POS software allows companies a new level of control for their respective operations. The software increases efficiency and accelerates profit. An inappropriate selection of software might result in a wastage of time and money. The software requirements vary from application to application.

Deployment-Based Europe POS Software Market Insights

Based on deployment, the Europe POS software market is segmented into on-premise and cloud. The on-premise software is deployed within the company’s IT infrastructure. The software is solely responsible for maintaining, upgrading, and performing all organization operations. It provides more protection and security than a cloud computing infrastructure. However, enterprises deploying on-premises software face challenges concerning the high costs involved in installing, managing, upgrading, and maintaining complete solutions, thereby limiting the procurement of newer on-site solutions.

Application-Based Europe POS Software Market Insights

The Europe POS software market, based on application, is segmented into inventory tracking, purchasing management, sales reporting, customer engagement, booking system, payroll and team management, and others. In the case of product-based companies, the chances of human errors in managing inventory are high. One of the most critical functions of a POS system is inventory management. The software keeps a proper record of products that assists the end-users in making decisions on when to order and when not to order particular products. The software helps user control all inventory operations, monitor purchase costs, and do quick inventory checks.

Enterprise Size-Based Europe POS Software Market Insights

The Europe POS software market, based on

enterprise size

, is segmented into small enterprises, medium enterprises, and large enterprises. An enterprise point-of-sale system is a set of technologies that allow large businesses to handle payments and keep track of sales and transactions.The specific elements of each POS system vary depending on the business type and physical or virtual business setup. It would also depend on whether the system was deployed on-premises or in the cloud.

End User-Based Europe POS Software Market Insights

Based on end user, the Europe POS software market is segmented into retail and consumer goods, restaurants, hospitality, media and entertainment, transportation and logistics, healthcare, and others. From grocery to fashion retail to duty-free products to specialty stores, the retail sector is fast-paced and witnesses high competition and challenges. Globalization has resulted in the creation of tough scenarios for retailers and other distributors. Therefore, enhancing and value-added supply chain services among retail industries are gaining high momentum.

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Europe POS Software Market: Strategic Insights

europe-pos-software-market
Market Size Value inUS$ 3,405.81 Million in 2021
Market Size Value byUS$ 6,308.14 Million by 2028
Growth rateCAGR of 9.2% from 2021 to 2028
Forecast Period2021-2028
Base Year2021
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The players operating in the Europe POS software market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key market players are listed below:

  • In January 2022, Square announced ISO 27001 certification. ISO 27001 is the most internationally recognized standard for information security management.
  • In February 2020, ready2order GmbH raised US$ 5.41 million in seed funding led by Reimann Investors and Speedinvest to develop its integrated POS technology for European businesses.

Company Profiles

  • AWEK microdata GmbH
  • Clover Network, Inc.
  • dascus GmbH
  • Dotypos
  • GK Software SE
  • LightSpeed Commerce Inc.
  • orderbird AG
  • ready2order GmbH
  • Shore GmbH
  • Block, Inc.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Component, Deployment Type, Application, End User

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

France, Germany, Italy, Poland, Spain, United Kingdom

The List of Companies - Europe POS Software Market

  1. AWEK microdata GmbH
  2. Clover Network, Inc.
  3. dascus GmbH
  4. Dotypos
  5. GK Software SE
  6. LightSpeed Commerce Inc.
  7. orderbird AG
  8. ready2order GmbH
  9. Shore GmbH
  10. Block, Inc.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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