CHICAGO, Feb. 9, 2021 /PRNewswire/ -- According to the new
market research report "Retail Point of Sale
Market by Product (Fixed POS, Mobile POS), Component
(Hardware, Software, and Services (eployment & Integration,
Support & Maintenance)), End User (Grocery Stores, Specialty
Stores, Gas Stations), and Region - Global Forecast to 2026",
published by MarketsandMarkets™, the market size to grow from
USD 15.8 billion in 2020 to
USD 34.4 billion by 2026, at a
Compound Annual Growth Rate (CAGR) of 13.9% during the forecast
period.
Growing interest in non-cash transactions among consumers,
increased data visibility through cloud POS systems and enhanced
service delivery are major growth factors for the market. Rising
penetration of eCommerce platforms, growing interest in POS
solutions among small businesses, and strong growth in global
retail industry would provide lucrative opportunities for vendors
in the Retail POS market.
Browse in-depth TOC on "Retail Point of
Sale Market"
246 – Tables
52 – Figures
224 –
Pages
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By component, Software segment to hold the largest market
size during the forecast period
The use of cloud-based retail POS software is growing
consistently. The cloud-powered retail POS software is affordable,
and merchants can access customer data remotely with an Internet
connection. Such technological advancements in the retail POS
market is expected to spur growth in the software segment. The
integration of the POS software with EMV, touchless, and
mobile-compatible payment terminals helps retailers achieve secure
and quick transaction payments.
In end user, convenience stores segment to grow at a higher
CAGR during the forecast period
Convenience store POS solutions automate manual tasks, such as
data entry, price updates, and cash management and billing, which
reduces human errors and enhances customer satisfaction. By
reducing these manual efforts, retailers can focus on improving
customer engagement, creating performance reports to identify
problem areas, and training their employees to serve customers in a
better way. It also helps them reduce human errors and manage
compliance issues that arise from frequent changes in gas prices by
automating the pricing process.
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North America to hold the
largest market size during the forecast period
North America, a
technologically advanced region with a high number of early
adopters and the presence of major market players, is expected to
contribute the highest market share in terms of revenues during the
forecast period. Factors such as growing interest in non-cash
transactions among consumers, enhanced service delivery, and
increased data visibility through cloud POS systems are expected to
fuel the growth of Retail POS in the region.
Major vendors in the global Retail Point of Sale
Market include Diebold
Nixdorf (US), Ingenico (France), Intuit (US), NCR Corporation (US),
SAP (Germany), Verifone (US), PAX
Technology (Hong Kong), Square
(US), Shopify (Canada), NEC
Corporation (Japan), Toshiba Tec
Corporation (Japan), Epicor (US),
Lightspeed (Canada), Clover (US),
Elavon (US), Castels Technology (Taiwan), Newland Payment Technology
(China), New POS Technology
(China), HP (US), Cegid Grou
(France), Posiflex Technology
(Taiwan), Centerm (China), Revel System (US), Vend (New Zealand), Zebra Technologies (US).
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Browse Adjacent Markets: Digitalization and Internet of
Things (IoT) Market Research Reports &
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Cloud POS Market by Component, Organization Size,
Application Area (Retail and Consumer Goods, Travel and
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and Healthcare), and Region - Global Forecast to 2023
https://www.marketsandmarkets.com/Market-Reports/cloud-pos-market-56647551.html
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