POS software or point-of-sale software is a solution mainly utilized in combination with POS hardware terminals like cash registers, debit and credit card processing equipment, displays, special terminals, magnetic card readers, and optical scanners. Usually, the POS software system is capable of analyzing the sales reports, inventories, and other parameters. It offers a graphical as well as pictorial representation to facilitate business insights. Additionally, this helps the vendors to simplify its business operations, operational efficiency, increase employee productivity, and customer satisfaction.
Global Point of Sale Software Market: Key Players
The research study includes profiles of leading companies operating in the global point of sale software market. Key players profiled in the report include: Square, Inc., Shopify, Paysafe Holdings, PayPal Holdings, Inc., uAccept, Clover Network, Inc., Gotmerchant.com, LLC, Harbortouch, eHopper, and TouchSuite, among others.
Drivers for the Global Point of Sale Software Market:
According to current market condition, the key factor contributing to the point of sale software market growth is the growing adoption of credit and debit cards. Increasing preference for smartphone usage at the global level is also anticipated to boost the market in near future. The POS software required for managing multiple business operations needs to be installed either on desktop, laptop, notebook, or tablet, with compatible operating system for further usage. Additionally, growing adoption of cloud-based solution has boosted the demand for cloud-based mPOS software. Also, the web-based POS solution has gained traction among the small and medium business retailers owing to its affordability and easy access directly from the internet or web browser, which is expected to boost the market growth over the forecast period.
Opportunities for the Global Point of Sale Software Market:
Rising demand for advanced features such as employee management analytics, inventory tracking, sales monitoring, customer data management, and reporting are expected to boost the adoption of POS software across various industries. Furthermore, the rising adoption of contactless payment solutions and integrating AI technology with the software is the factor expected to create growth opportunities.
Restrains for the Global Point of Sale Software Market:
However, security issues, like data breaching and a dearth of standardization, are supposed to restrain the growth of the POS terminal market during the forecast period. Apart from that, the key challenge for the market is to develop the POS software which can meet the multi-channel requirement. For instance, industries such as retail, packaged food service, and other business, have gradually shifted toward online sales channels to expand their reach across the world. This is generating the demand for POS software that can be efficiently deployed to meet multi-channel requirements of managing large scale inventory, facilitating payment, and streamlining other business processes. The software features preference varies across industries, which challenges vendors to create a different solution for each user.
Region Wise, Global Point of Sale Software Market Analysis:
On the basis of region, global point of sale software market includes North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America currently dominates the global POS software market. The region has a presence of prominent POS software vendors and has a high demand and adoption for advanced integrated systems. Also, increasing adoption of POS terminals in the region due to growth in the electronic payment industry is expected to boost the market growth. North America region is followed by Asia pacific and Europe.
Global Point of Sale Software Market: Product analysis
- Fixed Point-of-sale
- Mobile Point-of-sale
Global Point of Sale Software Market: Application analysis
Global Point of Sale Software Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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