Published Date: 23-Mar-2021
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According to a new report Global Retail Point of Sale Market, published by KBV research, The Global Retail Point of Sale Market size is expected to reach $33.8 billion by 2026, rising at a market growth of 14.1% CAGR during the forecast period.
The cloud-powered retail POS software is cost-efficient, and retailers can get any sort of customer data at any place with an Internet connection. These kinds of technological improvements in the retail POS market are anticipated to surge the growth of the software segment. The incorporation of the POS software with contactless, EMV and mobile-compatible payment terminals assists retailers to ensure safe & fast payment transactions.
The grocery stores market segment would showcase highest growth over the forecast period. There is tough competition for grocery stores as large chain supermarkets are utilizing technology to do their jobs smoothly. The software for grocery stores assists the managers to better organize their businesses & fulfill customer expectations. Companies are launching new solutions in order to help small businesses to get the same opportunities as the bigger grocery stores. There are various independent stores, like small shops, located at a single location; those stores are highly adopting retail POS terminals for delivering customers with digital payment services.
North America would acquire the maximum revenue share over the forecast period. This region is highly technologically advanced with a large number of adopters & the presence of the major companies, which would fuel the growth of the market over the forecast period. Some of the factors like increasing interest in cashless transactions among consumers, improved service delivery, and growing data visibility via cloud POS systems would bode well for the demand for Retail POS in this region. The Europe market is estimated to grow at a CAGR of 13.2% during (2020 - 2026). Additionally, The Asia Pacific market would showcase a CAGR of 15.9% during (2020 - 2026).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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