Global “POS System Market” Report 2020 offers Complete analysis of industry status and outlook of major regions based on of key players, countries, product types, and end industries. This report focuses on the POS System in Global market, especially in United States, Europe, China, Japan, South Korea, North America, India. POS System Market report categorizes the market based on manufacturers, regions, type and application. POS System Report 2020 (value and volume) by company, regions, product types, end industries, history data and estimate data.
Also, Report contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions. POS System Market report categorizes the market based on manufacturers, regions, type, and application. POS System Market reports offer a detailed assessment of the POS System including enabling technologies, current market situation, market assumptions, restraining factors.
List of Top Key-players in 2020 of POS System Market:-
- Seiko Epson Corp
- Ingenico SA
- VeriFone System Inc.
- Hewlett Packard Enterprise
- Panasonic Corporation
- Honeywell International Inc.
- Samsung Electronics
- Casio Computer Co. Ltd
- Pax Technology Inc.
- Revel Systems.
The Global POS System market swot is provided for the international markets including progress trends, competitive landscape breakdown, and key in regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.
The POS systems market is expected to register a CAGR of over 10.9%, during the forecast period of 2018-2023. 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 Priority
Customer 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, 2018’. 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 Market
Owing 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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The global POS System market covers the vision of participant analysis by product types, market share, applications, sales, and revenue.
Highlighted points of POS System Market Size:
- Covers the varying market dynamics of the industry.
- In-depth analysis of market risks, opportunities, limitations, and growth of the market.
- Includes market driving and restraining factors.
- Participants profiles along with product description, overview, and business data.
- Include details of five years of forecast analysis by types, regions, and applications.
Key Developments in the POS System Market: in the POS System Market
POS System Market
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This POS System Market Research/analysis Report Contains Answers to your following Questions
- Which Manufacturing Technology is Used for POS System? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
- Who Are the Global Key Players in This POS System Market? What’s Their Company Profile, Their Product Information, Contact Information?
- What Was Global Market Status of POS System Market? What Was Capacity, Production Value, Cost and PROFIT of POS System Market?
- What Is Current Market Status of POS System Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of POS System Market by Taking Applications and Types in Consideration?
- What Are Projections of Global POS System Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What About Import and Export?
- What Is POS System Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
- What Is Economic Impact On POS System Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
- What Are Market Dynamics of POS System Market? What Are Challenges and Opportunities?
- What Should Be Entry Strategies, Countermeasures to Economic Impact, Marketing Channels for POS System Industry?
Reasons to Purchase POS System Market Report
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Finally, the report Global POS System Market 2020 describes the POS System industry expansion game plan, the POS System industry knowledge supply, appendix, analysis findings, and the conclusion.
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