POS Software Market Share, Size & Analysis to 2027

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POS Software Market to 2027 - Global Analysis and Forecasts By Component (Software and Services); Deployment Type (On-Premise and Cloud); Application (Inventory Tracking, Purchasing Management, Sales Reporting, Customer Engagement, and Others); End User (BFSI, Hospitality, Media and Entertainment, Retail, and Others)

Publication Month: Dec 2019 | Report Code: TIPRE00007898 | No. of Pages: 183 | Category: Technology, Media and Telecommunications | Status: Published

The POS software market accounted for US$ 12.23 Bn in 2018 and is anticipated to grow at a CAGR of 8.4% to reach US$ 42.49 Bn by 2027.

With increasing customer-centric solutions and services, the demand for cost-efficient and value-added services is increasing owing to which vendors are focusing on upgraded offering as well as factors that minimize operational costs. POS software is a cost-effective approach for both business and customers. The features that drive the POS market are inventory management, sales management, store operations, order and promotion management, purchase and re-order, secured payments, customer loyalty programs, creating reports, and analyzing data in real time. 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 its customers, which is significantly driving the global POS software market

Moreover, vendors are integrating real-time transactions with customer relationship management (CRM) solutions, which result in increased sales and revenue of the business. The old POS software was limited by offering basic data regarding customer behavior due to which the need to develop customer engagement equipped POS software has emerged. POS/CRM integration makes it possible to analyze customers who make the most significant impact on sales and whose loyalty is worth pursuing. For instance, Revel Systems integrated its solution with an iPad POS solution with CRM. It enables the business to collect all types of customer data from POS transactions such as name, email, billing and shipping address, loyalty program membership details, and others. The software then helps businesses organize this information and synchronize and distribute it to different departments—marketing, sales, customer service, and technical support—to improve customer experience and acquisition. eZee Optimus is another provider of POS system for restaurants to enhance customer engagement.

Lucrative Regions for POS Software Market

Lucrative Regions for POS Software Market

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Market Insights

Booming Retail Industry Drive Market for POS Terminals

The retail industry is witnessing tremendous changes and is focusing on the adoption of POS terminals. From adopting cloud technology to managing daily transactions of pharmacies, supermarkets, restaurants, and warehouses, the POS system is inevitable in the business environment. The convenience, process, and speed of transactions have been possible because of POS retail systems that can be customized as per the business requirements. Due to the aforementioned features, the deployment of POS is rising within SMEs. For instance, Toshiba Corporation teamed up with a provider of SD-WAN Edge applications and services to widen the scope of Toshiba TCx Elevate digital commerce platform to the cloud for retailers throughout the Asian market. Both POS machines and software providers are looking forward to creating solutions depending upon emerging trends, such as mobile POS. For instance, Square Inc. offers a retail-focused POS application on the cloud. However, it is also planning to deliver Square for restaurants. The new solution is designed for full-service restaurants and bars.

Additionally, testing of self-service retail stores and kiosks in China, the US, and other countries has also increased, which is anticipated to provide several growth opportunities to the retailers in APAC. The booming retail industry across the world is anticipated to benefit the POS providers especially in the APAC region, as number of retailers in Asian market is numerous. Thus, the use of POS software among retailers in APAC would propel the market growth.

Component Market Insights

The POS software market by component is segmented by software and service. The POS software is equipped with varied features and provides necessary services to the community of end-users. The use of software differs as per the area of application. In addition, services offered to the customers aim to solve all issues related to the software and its functionality.

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Deployment Type Market Insight

The global POS software market based on deployment types is segmented into on-premise and cloud model. The on-premises software is deployed within the company’s IT infrastructure. This software is solely responsible to maintain, upgrade, and perform all operations within the organization. It provides greater protection and security than a cloud computing infrastructure. However, enterprises deploying on-premises software face challenges with regard to high costs involved in installation, management, upgrade, and maintenance of complete solutions, thereby limiting the procurement of newer on-site solutions. Therefore, on-premises deployment is mainly adopted by large and well-established companies that are capable of investing huge capital on maintaining the software. The on-premises structure needs software licenses, in-house server hardware, integration capabilities, and IT technicians to support, operate, and manage the complex issues that may arise while accessing the software.

Application Market Insight

The component to be put on a fluid depends upon the fluid type used in the industrial application. Various manufacturing operations and applications require varying amount of components at different stages that can be achieved with the help of a booster compressor. The operating facility size, the operating component requirement, and the duration of compression required decide the type of booster compressor to be used. Based on the compression stage, the POS software market is segmented into single stage, double stage, and multi stage booster compressor. The pressurized gas or liquid increases from single stage booster compressor to a multi-stage booster compressor.

Application Market Insight

The POS software market by end user is segmented by manufacturing, oil & gas, energy and power, chemicals, and others. The manufacturing segment further includes various sectors such as, pulp and paper, food and beverage, pharmaceutical, packaging, and process manufacturing. The others segment comprises of automotive, aerospace, defence, and research institutions.

Global POS Software Segments:

POS Software Market – By Deployment

  • On-Premise
  • Cloud

POS Software Market – By Component

  • Solution
  • Services

POS Software Market – By Application

  • Inventory Tracking
  • Purchasing Management
  • Sales Reporting
  • Customer Engagement
  • Others

POS Software Market – By End User

  • Retail
  • Hospitality
  • Media and Entertainment
  • Healthcare
  • Others

POS Software – By Geography

  • North America

    • U.S.
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • Spain
    • UK
    • Rest of Europe
  • Asia Pacific (APAC)

    • Australia
    • China
    • India
    • Japan
    • Rest of APAC
  • Middle East & Africa (MEA)

    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of MEA
  • South America (SAM)

    • Brazil
    • Rest of SAM

Companies

  • AccuPOS Point of Sale
  • Clover Network, Inc.
  • Dell Inc.
  • Honeywell International, Inc.
  • Infor INC
  • Ingenico Group SA
  • Intuit, Inc.
  • LightSpeed POS Inc
  • ShopKeep
  • Vend Limited

Frequently Asked Questions

The POS software offers a broad spectrum of capabilities, including billing and order processing, mobile connectivity, inventory tracking, returns, sales monitoring and reporting, analytics, employee management, customer data management, and loyalty programs. Further, rise in the concept of promoting electronic payments pertaining to rising digitalization and need to provide hassle-free service on real-time basis to end users are the major drivers propelling the growth of the POS software market.
Integration of advanced technologies such as big data analytics and IoT with POS solutions offers a lucrative growth opportunity to the market players.
APAC holds the dominant share in the POS software market. The region is also expected to witness the highest CAGR during the forecast period owing to constant growth in the retail and e-commerce sectors as well as supporting government initiatives for digital payments.

The List of Companies

  1. AccuPOS Point of Sale
  2. Clover Network, Inc.
  3. Dell Inc.
  4. Honeywell International, Inc
  5. Infor Inc.
  6. Ingenico Group SA
  7. Intuit, Inc.
  8. LightSpeed POS Inc.
  9. ShopKeep
  10. Vend Limited
  • Highlights key business priorities in order to assist companies to realign their business strategies.

  • The key findings and recommendations highlight crucial progressive industry trends in the POS Software Market, thereby allowing players to develop effective long term strategies.

  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.

  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to the component, deployment type, application, and end-user.
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