The Latin America, Middle East and Africa Point-of-Sale Software Market would witness market growth of 16.3% CAGR during the forecast period (2022-2028).
The rising number of restaurant point-of-sale software solutions on the market paves the way for the expansion of the market. Increasing urbanization, industrialization, and expanding restaurants and cafes are other significant market drivers. In addition, the enormous presence of the most technologically advanced players in the market to provide cutting-edge technology in the developed economies, along with rising personal disposable income, is projected to propel the market's growth rate.
With growing competitiveness in the restaurant sector and the growth of quick-service restaurant chains, an efficient supply chain, and order quality have become increasingly vital. This is expected to increase product demand. But, the absence of a single, seamless, integrated piece of software is one of the most significant obstacles stopping the market from attaining its full potential. In addition, these solutions cannot interface with other restaurant-installed technology in a widespread manner.
The UAE leads the Gulf Cooperation Council (GCC) in eCommerce, with a market growth of 53% in 2020 and a record $3.9 billion in eCommerce sales, accounting for 10% of all retail sales. Cross-border eCommerce is now widely used by Middle Eastern consumers online. Due to their confidence in the security of their gateways, 58% of online consumers in the UAE purchased from foreign merchants. As a result, the sale of cosmetics and personal care items in the Middle East and North Africa (MENA) area has recently increased dramatically. One of the regions with the quickest growth for cosmetics and personal care products over the previous six years has been the MENA region. In the United Arab Emirates, where a sizable portion of the population spends a lot on cosmetics, this increase is particularly apparent.
The Brazil market dominated the LAMEA Point-of-Sale Software Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $474.7 million by 2028. The Argentina market is exhibiting a CAGR of 16.9% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 16% during (2022 - 2028).
Based on Application, the market is segmented into Fixed POS, and Mobile POS. Based on Deployment Mode, the market is segmented into On-Premise, and Cloud. Based on Organization Size, the market is segmented into Large Enterprises, and SMEs. Based on End User, the market is segmented into Retail, Restaurants, Hospitality, Warehouse, Healthcare, Entertainment, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Point-of-Sale Software Market is Projected to reach USD 20 Billion by 2028, at a CAGR of 10.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Fiserv, Inc. (Clover Network, Inc.), Oracle Corporation, Toast, Inc., NCR Corporation, Revel Systems (Welsh, Carson, Anderson & Stowe), MSL Solutions Limited (Pemba Capital Partners), Block, Inc., H&L POS (Valsoft Corporation), Idealpos Solutions Pty Ltd and TouchBistro, Inc.
By Application
By Deployment Mode
By Organization Size
By End User
By Country
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