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According to the latest research by SkyQuest Technology, the Global Point-Of-Sales Market was valued at US$ 22.08 Billion in 2021, and it is expected to reach a value of US$ 71.89 Billion by 2028, at a CAGR of 15.9% during the forecast period of 2022 – 2028. The research provides up-to-date point-of-sales market analysis of the current market landscape, latest trends, drivers, and overall market environment.
The global trend toward contactless payment is largely responsible for the expansion of the POS sector. Payment choices are becoming contactless due to the shift toward digital operations and the digital age. For today’s fast-paced lifestyle, managing payments through the cash register is already a thing of the past. The Point of Sales (POS) system is already used by a wide number of small and large retail stores, healthcare facilities, and other enterprises. With more people choosing digital operations, contactless payments are becoming more popular. For today’s fast-paced lifestyle, managing payments through the cash register is already a thing of the past.
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The Point of Sales (POS) system is used by a wide number of small and large retail stores, healthcare facilities, and other enterprises. The growing digital revolution in the various end-use sectors is another significant driver supporting the need for the POS machine market. This is mostly attributable to the increased simplicity and user-friendliness of digital wallet payment methods, which have pushed the sale of the goods that would not have otherwise been sold due to a lack of available cash. This fuels the worldwide digitization movement, which in turn encourages market expansion.
Read market research report, ” Global Point-Of-Sales Market by Product Type (Fixed POS/Mobile POS), By Component (Hardware/Software/Services), By End-Users (Restaurants/Retail/Entertainment/Others) & By Region – Forecast and Analysis 2022-2028” by SkyQuest
North America, Europe, Asia Pacific, the Middle East & Africa, and South America are the five main geographic divisions of the market share. During the projected period, Asia Pacific is anticipated to hold the biggest market share in the worldwide market, thanks to a number of device makers and an increase in exports from these areas. In addition, the growing acceptance of digital payment methods by merchants, eateries, and other end users is a key factor driving the Asia Pacific market.
Due to the existence of domestic device producers and the growing popularity of digital wallets among Chinese customers, China now dominates the Asia Pacific market. Additionally, due to the increasing acceptance of these devices by retailers and banks, India is predicted to develop at the greatest CAGR.
The market in Europe is being pushed by small and medium-sized businesses’ growing usage of cloud solutions. The market expansion has been fuelled by the main companies’ increased development of cloud-based PoS solutions to satisfy the need of the expanding restaurant and retail sectors. The expansion of these platforms across North American nations and the growing acceptance of cloud-based PoS software by American retailers are what are driving the increased need for PoS in the region.
The market expansion in South America has been fuelled by the growing use of these terminals by small and medium-sized businesses in the restaurant, retail, and entertainment industries. The need for software is increasing as small and medium-sized businesses in South American nations like Brazil and Argentina increase their investments in digital transformation.
The Middle East and Africa (MEA) nations are embracing digital technology at an incredibly rapid rate. The Middle East market is expanding as a result of growing company investment in digital technologies and rising use of digital payments. Additionally, these solutions are offered to retail and individual consumers by Middle Eastern banks. Banks in Saudi Arabia, the United Arab Emirates, and South Africa have started to offer basic digital payment choices to consumers and retail customers by implementing a number of techniques, including partnerships and cooperation with the makers of PoS solution.
The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about Point-Of-Sales Market Revenue. The projections featured in the report have been derived using proven research methodologies and assumptions.
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What does this Report Deliver?
SkyQuest has segmented the Global Point-Of-Sales Market based on Type, Component, End-Users and Region:
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Key Players in the Global Point-Of-Sales Market
About Us- SkyQuest Technology Group is a Global Market Intelligence, Innovation Management & Commercialization organization that connects innovation to new markets, networks & collaborators for achieving Sustainable Development Goals.
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