There were 805 press releases posted in the last 24 hours and 210,036 in the last 365 days.

/EIN News/ -- Pune, India, July 11, 2022 (GLOBE NEWSWIRE) -- The global point of sale market size was USD 22.08 billion in 2021. The market is projected to grow from USD 25.24 billion in 2022 to USD 70.75 billion by 2029 at a CAGR of 15.9% during the 2022-2029 period. Fortune Business Insights™ publishes this information in a report titled, "Point of Sale (PoS) Market Forecast, 2022-2029". As per the report, the market is anticipated to grow during the projected period due to the rising implementation of cloud and AI integration in PoS systems.

According to our researchers, the number of smartphone users is also rising each year. Consumers are inclining toward using e-wallets and mobile payment as they offer more suitability and flexibility in payment option over carrying huge wallets, credit and debit cards everywhere.

Request a Sample Copy of the Research Report:

https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/point-of-sale-pos-market-106336

May 2022: Square, Inc. launched a new hardware and software restaurant solution, Square for Restaurants mobile PoS. The updated PoS runs on two handheld devices, the Restaurant Mobile point of sale kit and Square Terminal. Furthermore, this system supports all-in-one order management and tableside service, increasing the efficiency of operations.

Changing Consumer Spending Behavior Hampered Market Growth

The COVID-19 pandemic affected various industries globally in the initial lockdown phase. Governments imposed several restrictions to control the virus's spread. Also, lack of adoption of these solutions has hampered the point of sale (PoS) market growth during the pandemic. The limitations on workforce management hindered the performance of leading companies in the industry.

Click here to get the short-term and long-term impact of COVID-19 on this Market:

https://www.fortunebusinessinsights.com/point-of-sale-pos-market-106336

Rising Adoption of Cloud-Based Systems to Propel Growth

The market is expected to grow significantly during the projected period due to increasing demand for smart technologies in several industries. Also, the rising adoption of cloud-based PoS in small-scale and medium-scale businesses is expected to drive the market. Furthermore, the integration of AI in POS systems is anticipated to bolster market growth in the coming years. The increasing adoption of cashless transactions for better money management is projected to augment growth in the projected period.

However, rising data security concerns may hamper market growth.      

Fixed PoS Segment to Lead the Market Due to Rising Adoption from the Retail Industry

By type, the market is bifurcated into fixed PoS and mobile PoS. The fixed PoS segment is expected to dominate the market due to its rising adoption from retail businesses. This PoS enables traditional payments, which the leading companies highly adopt.

Hardware Segment to Dominate Global Market in the Coming Years 

Based on component, the market is trifurcated into hardware, software, and services. Due to increasing demand from retail, banking, and other industries, the hardware segment leads the global market.  

Cloud-Based PoS Segment Dominates Market due to Rising Demand from Various Industries

On the basis of deployment, the market is divided into on-premise and cloud-based. Cloud-based PoS systems are expected to be highly adopted due to various benefits associated with the technology.

Retail Business to Grow by Adopting PoS Systems

According to end-user, the market is categorized into restaurants, retail, entertainment, and others (gas stations and transportation). Retail businesses are highly adopting the point of sale (PoS) systems to enhance their service qualities by adopting recent technologies.   

Geographically, the market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.

The report sheds light on recent trends and developments in the market. Also, the impact of COVID-19 pandemic on global market expansion is discussed further in this report. Drivers and restraints affecting the market growth in the coming years are given further in this report. Furthermore, a regional analysis of segmented market areas is provided further along with a list of key market players present in the industry.

Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/point-of-sale-pos-market-106336

Asia Pacific Holds Dominant Share due to Emerging Digitization

Asia Pacific dominates the global point of sale (PoS) market share due to increasing device manufacturers and rising shipments. Also, the growing adoption of digital payment methods by several industries is expected to fuel the regional market. The regional market registered USD 7.40 billion in 2021.

Europe is expected to grow significantly during the forecast period due to increasing adoption of cloud solutions among small and medium-scale businesses. Rising industrialization in the region is expected to drive market growth.

Leading Companies Launch New Services to Improve Business Performance

The key market players focus on launching new solutions equipped with recent technologies. The companies focus on understanding customer demands and developing solutions accordingly. These strategies allow leading companies to strengthen their market position by enhancing their product portfolio.  

List of Key Players Profiled in the Report:  

Quick Buy - Point of Sale Market Research Report

https://www.fortunebusinessinsights.com/checkout-page/106336

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Fortune Business Insights™ Pvt. Ltd.

EIN Presswire's priority is source transparency. We do not allow opaque clients, and our editors try to be careful about weeding out false and misleading content. As a user, if you see something we have missed, please do bring it to our attention. Your help is welcome. EIN Presswire, Everyone's Internet News Presswire™, tries to define some of the boundaries that are reasonable in today's world. Please see our Editorial Guidelines for more information.

© 1995-2022 Newsmatics Inc. dba EIN Presswire All Right Reserved.