Asia Pacific Retail Point of Sale Market By Product (Fixed and Mobile), By Component (Hardware, Software and Services), By End User (Supermarkets/Hypermarkets, Discount Stores, Gas Stations, Convenience Stores, Specialty Stores, Grocery Stores and Others), By Country, Industry Analysis and Forecast, 2020 - 2026
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The Asia Pacific Retail Point of Sale Market would witness market growth of 15.9% CAGR during the forecast period (2020-2026). For cultivating, linking, and attracting the modern shopper, it needs new thinking across engagement, segmentation, and establishing trust.
A merchant needs to understand their best customer and create an operation that appeals them and build a meaningful relationship between the customer & the brand. While providing a brand promise from the manufacturing point to doorstep delivery, this means that the brand is transparent about the brand & its operations. The step of putting hefty investment in point of sale systems leads to the establishment of a single view of the inventory, customer, and order so that retailers can provide the end-to-end experience customers’ expectations.
The rising competition among retailers across the globe will contribute to the implementation of retail POS terminals with an aim to improve customer experience and raise sales revenue. The customers are highly demanding more customized and tailored services from conventional retailers. The increasing interest in cashless transactions around consumers, growing data visibility via cloud POS systems, and improved service delivery are among the main factors for the growth of the market. The rising interest in POS solutions in all the small businesses, increasing penetration of ecommerce platforms, and powerful growth in the retail industry worldwide will offer more growth opportunities for the merchants in the Retail POS market.
With the increasing technologies, many new payment mediums are evolving with time. These developed payment options are widely used by the customers to make payments for their purchases. So, to adapt the business with the customer preference, retailers need to implement POS systems at their stores. With the emergence of the latest modes of payments like Visa (EMV) & Near Field Communication (NFC), and MasterCard, retail merchants are likely to incorporate the upgraded devices to meet the demand for advance & modern technologies. There are many retailers who are working hard to improve the customer experience by delivering flexible payment solutions with improved or modern payment options at the point-of-sale terminal.
The China market dominated the Asia Pacific Software Market by Country 2019, growing at a CAGR of 14.6 % during the forecast period. The Japan market is showcasing a CAGR of 16.2% during (2020 - 2026). Additionally, The India market is anticipated to grow at a CAGR of 17.5% during (2020 - 2026).
The Fixed market dominated the Malaysia Retail Point of Sale Market by Product 2019, thereby, achieving a market value of $378.1 million by 2026. The Mobile market is expected to witness a CAGR of 21.8% during (2020 - 2026).
Based on Product, the market is segmented into Fixed and Mobile. Based on Component, the market is segmented into Hardware, Software and Services. Based on End User, the market is segmented into Supermarkets/Hypermarkets, Discount Stores, Gas Stations, Convenience Stores, Specialty Stores, Grocery Stores and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Diebold Nixdorf, Inc., Intuit, Inc., NEC Corporation, Toshiba Corporation, Zebra Technologies Corporation, Square, Inc., NCR Corporation, Shopify, Inc., VeriFone Holdings, Inc. (Francisco Partners), and PAX Global Technology Limited.
Scope of the Study
Market Segments Covered in the Report:
By End User
- Discount Stores
- Gas Stations
- Convenience Stores
- Specialty Stores
- Grocery Stores
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Diebold Nixdorf, Inc.
- Intuit, Inc.
- NEC Corporation
- Toshiba Corporation
- Zebra Technologies Corporation
- Square, Inc.
- NCR Corporation
- Shopify, Inc.
- VeriFone Holdings, Inc. (Francisco Partners)
- PAX Global Technology Limited
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