“POS System Market Report 2019-2023” helps the consumer to take business decisions and to understand strategies of major players in the industry. The report also calls for market-determined results deriving feasibility survey for consumer needs. Global POS System Market Report ensures qualified and verifiable aspects of market data operating in the real-time scenario. The analytical studies are conducted ensuring consumer needs with a complete understanding of market capacities in the real-time scenario.
Top-Listed Players in POS System Market Research Report 2019-2023:
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POS System market reports provide a comprehensive overview of the worldwide market size and share. POS System market data reports also provide a 5-year historical, forecast for the sector, and include data on social-economic data of global. Key stakeholders can consider statistics, tables & figures mentioned in this report for strategic planning which lead to the success of the organization.
Overview of POS System Market Report:
The POS systems market is expected to register a CAGR of over 10.9%, during the forecast period of 2018-2023. The report profiles the POS hardware, software, and service providers for various industries.
POS systems have evolved from being transaction-oriented terminals/devices to a system that can integrate with the company’s CRM and other financial solutions. This evolution has empowered end users with business intelligence, to better manage their revenue streams and inventory. Owing to these functional benefits that the advanced POS systems offer, companies have replaced their traditional billing software with POS systems, thus augmenting the growth of the POS system market.
The POS system market includes POS terminals, in addition to supporting devices, such as barcode scanners, card readers, printer devices, cash drawers, etc. Mobile POS systems that can be integrated with other business solutions, like CRM, are also included under the scope of the report.
The growing end-user industries provide significant scope for growth of the market studied, during the forecast period. The need for customer retention and growth of the industries facilitate the growth of POS systems. The rising financial frauds across the globe have influenced the governments and regulatory bodies to secure the payment transactions, in the recent times. With customers demanding safe and reliable digital transactions, the need for secure payment processes has only increased. These regulatory bodies have positively influenced the adoption of POS systems.
With the increasing mobility trends across the globe, mobile POS systems are gaining traction. In addition to eliminating long payment lines, mobile POS solutions in the market are capable of tracking inventory and ordering necessary shipments.
Cloud-based POS systems are on the rise, compared to the on-premise systems, due to the functional benefits that they offer. According to the Retail Solutions Providers Association (RSPA), around 62% of new merchants prefer cloud-based POS systems, while the remaining opt for on-premise systems.
The market studied is fragmented, and comprises POS hardware and accessory providers (such as Epson, Ingenico, VeriFone, etc.,) and cloud-based POS solution providers (such as ShopKeep, Vend, etc.). Technology majors, such as HP, Honeywell, Dell, etc., are offering POS hardware, software, service, and support, in one integrated system.
Customer Experience is Top Priority
Customer engagement by personalization is one of the top priorities for retailers/merchants, as mentioned by Forbes, in its report titled ‘Five Trends Shaping the Future of Customer Experience, 2018’. The other priorities are – adoption of cloud-based systems, augmented reality, etc.
Mobile wireless printers, for use with in-store mobile POS systems, make customer engagement easier and are available in the market. Mobile POS systems are being equipped with software that enable communication of customer data with the store’s centralized system.
Studies by Revel Systems, a prominent player in the POS system market, mentioned that around 80% of US consumers were willing to shop more in places that offer high-quality customer engagement and experience. According to the Harvard Business Review, increasing customer retention rates by 5% could potentially increase profits from 25% to 95%. On the basis of the technological availability and retailer/merchant benefits, it can be implied that the capabilities of the POS systems are in line with the need the retailers/merchants have to address.
Asia-Pacific Estimated to Account for the Largest Share in POS System Market
Owing to the projected rise of digital payments and the growth of the regional retail and hospitality industries, Asia-Pacific is estimated to be the fastest growing region in the POS system market, during the forecast period.
According to the non-cash transaction by volume analysis of Capgemini, in emerging Asian regions, cashless transactions are estimated to grow almost three times more than that of global growth, by 2020. The growth of the regional retail industry, with a substantial increase in the number of retail outlets (including shopping malls, mom-and-pop stores, warehouses, and specialty stores) is projected to facilitate the need for better customer experience management, to boost the growth of the business.
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Reasons to Purchase POS System Market Report
Valuable Points from POS System Market Research Report 2019-2023:
- A complete background analysis, which includes a valuation of the parental POS System Market.
- Significant changes in Market dynamics.
- POS System Market segmentation according to Top Regions.
- Current, Historical, and projected size of the POS System Market from the viewpoint of both value and volume.
- Reporting and assessment of recent industry developments.
- POS System Market shares and strategies of key Manufacturers.
- Emerging Specific segments and regional for POS System Market.
- An objective valuation of the trajectory of the Market.
- Recommendations to Top Companies for reinforcement their foothold in the Market.
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Highlights of the following key factors:
- Business description –A detailed description of the company’s operations and business divisions.
- Corporate strategy –Analyst’s summarization of the company’s business strategy.
- SWOT Analysis –A detailed analysis of the company’s strengths, weakness, opportunities, and threats.
- Company history –Progression of key events associated with the company.
- Major products and services –A list of major products, services, and brands of the company.
- Key competitors –A list of key competitors to the company.
- Important locations and subsidiaries –A list and contact details of key locations and subsidiaries of the company.
- Detailed financial ratios for the past five years –The latest financial ratios derived from the annual financial statements published by the company with 5 years history.
Top Most Regions Covered In POS System Market Research Report 2019-2023:
Conclusively, this report will provide you a clear view of each fact of the market without a need to refer to any other research report or a data source. Our report will provide you with all the facts about the past, present, and future of the concerned Market.
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