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Point of Sale Software Market to Grow by USD 6.1 Billion from 2024-2028, Driven by Demand for Contactless Payments and AI-Driven Market Transformation – Technavio

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NEW YORK, Nov. 6, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The global point of sale software market size is estimated to grow by USD 6.1 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  10.7% during the forecast period. Increasing demand for contactless payment options is driving market growth, with a trend towards rising penetration of e-commerce platforms. However, data security concerns related to point of sale software poses a challenge.Key market players include Agilysys Inc., Block Inc., Cavius International Ltd., COMBASE AG, Epos Now UK Ltd., Fiserv Inc., GOFRUGAL, H and L Australia Pty Ltd., Idealpos Solutions Pty Ltd., Intuit Inc., Lightspeed Management Co. LLC, MindSpark LLC., MSL Solutions Pty Ltd., NCR Voyix Corp., Oracle Corp., SHIFT4 PAYMENTS, INC., Tillpoint Enterprise Ltd., Toast Inc., Web Masters Technologies Pte. Ltd., and Worldline SA.

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Point Of Sale Software Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 10.7%

Market growth 2024-2028

USD 6100.2 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

9.4

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 42%

Key countries

US, China, Japan, India, Canada, UK, Singapore, Germany, South Korea, and France

Key companies profiled

Agilysys Inc., Block Inc., Cavius International Ltd., COMBASE AG, Epos Now UK Ltd., Fiserv Inc., GOFRUGAL, H and L Australia Pty Ltd., Idealpos Solutions Pty Ltd., Intuit Inc., Lightspeed Management Co. LLC, MindSpark LLC., MSL Solutions Pty Ltd., NCR Voyix Corp., Oracle Corp., SHIFT4 PAYMENTS, INC., Tillpoint Enterprise Ltd., Toast Inc., Web Masters Technologies Pte. Ltd., and Worldline SA

Market Driver

The e-commerce industry’s growth and evolving fulfillment needs are driving the demand for point of sale (POS) software. With increasing competition and the need for expedited delivery times for online orders, retailers and businesses are adopting technological systems for efficient retail management. The global B2B e-commerce sector is projected to reach USD36 trillion by 2026, and the Indian e-commerce industry is expected to reach USD325 billion by 2030. Additionally, third-party logistics providers are forecasted to manage 17 billion shipments in the next seven years. These trends indicate significant growth in the e-commerce sector, leading to increased pressure on retailers to adopt advanced fulfillment techniques and solutions. As a result, the demand for retail e-commerce will continue to rise, fueling the demand for POS software during the forecast period. 

Point-of-Sale (POS) software is a vital business tool for merchants in various industries, including retail chains, restaurants, hotels, drug stores, and auto shops. The market is witnessing significant trends such as the rise of fixed POS systems, mobile POS, and cloud-based solutions. Cloud computing enables real-time access to sales data, inventory management, and business intelligence from anywhere. Mobile POS systems using Android OS and iOS are popular for their flexibility and enhanced functionality. Security concerns are addressed through advanced authentication measures and cybersecurity solutions. Technology evolution brings e-commerce, omnichannel retailing, mobile payments, digital payments, and mobile wallets. Inventory management, order fulfillment, and sales monitoring are essential features, along with employee management analytics and customer data management. Cloud-based solutions offer system integration, enabling seamless transactions and cashless economies. Security, financial inclusion, and cybersecurity are top priorities. Technology continues to evolve, with a focus on advanced analytics and business intelligence to drive sales strategy and growth. 

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Market Challenges

Point of sale (POS) software adoption in retail is hindered by security and privacy concerns. E-commerce’s vulnerabilities, such as unauthorized access and data leaks, increase the costs of implementation due to the need for cybersecurity measures. Retailers must ensure a reliable Internet connection and third-party services to mitigate inherent risks. Confidential customer data, including contact details, future orders, contracts, shipping information, and vendor details, are at risk in a breach, leading to financial losses, customer churn, and damage to brand reputation. These concerns may hinder the growth of the global POS software market. End-users must invest in effective cybersecurity processes and systems to make e-commerce safer and secure for POS software deployment.Point-of-Sale (POS) software is essential for businesses in various industries, including retail chains, restaurants, hotels, drug stores, and auto shops. Challenges include managing cashless transactions, sales tracking, inventory data, sales strategy, and employee management. Advanced features like inventory tracking, sales monitoring, customer data management, reporting, and POS systems are necessary. Cloud-based mPOS software and web-based POS solutions offer flexibility in operating systems and payment methods. Hardware compatibility is crucial, and POS systems support various payment processing options, including digital payments and mobile wallets. Advanced features like automated calculations, real-time updates, and online channels help meet multi-channel demand and e-commerce channels. POS terminal software and AI integration provide personalized shopping experiences, dynamic pricing optimization, fraud detection, and cloud-based PoS solutions. Generative AI enhances sales strategies and customer engagement. Customizable POS solutions cater to unique business needs. In conclusion, POS software addresses the challenges of inventory management, sales monitoring, and customer data management while providing advanced features and integrating with various hardware and payment methods.

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Segment Overview 

This point of sale software market report extensively covers market segmentation by  

Deployment 1.1 On premise1.2 CloudEnd-user 2.1 Retail2.2 HospitalityGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 On premise-  The on-premise segment in the point of sale (POS) software market holds a substantial share, catering to businesses seeking control, security, and customization. On-premise POS systems are installed locally on a business’s servers and hardware, offering advantages such as enhanced security, reliability, and customization. The local data storage ensures businesses have direct oversight, reducing data breach risks, and providing uninterrupted operations even during network outages. Customization is a significant advantage, allowing businesses to tailor the software to their unique operational needs, often unattainable with cloud-based solutions. However, on-premise POS systems require substantial initial investment for hardware and infrastructure, and ongoing maintenance and updates are the business’s responsibility. Despite these challenges, their popularity remains strong among larger enterprises and businesses with specific operational requirements. The on-premise POS market segment is expected to persist as a vital choice for businesses prioritizing control, security, and customization throughout the forecast period.

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Research Analysis

Point-of-Sale (POS) software is a vital tool for merchants in various industries, including retail chains, restaurants, hotels, drug stores, auto shops, and more. This technology enables cashless transactions, sales tracking, and inventory data management, allowing businesses to streamline their operations and gain valuable insights for sales strategy. Advanced features include employee management analytics, inventory tracking, digital payments, mobile wallets, automated calculations, real-time updates, online channels, and retail sales. Consumer goods businesses benefit from personalized shopping experiences, dynamic pricing optimization, and fraud detection. The evolution of POS technology includes cloud-based solutions, mobile payments, system integration, and enhanced functionality. With the integration of cloud computing, technology continues to advance, offering merchants increased security and convenience.

Market Research Overview

Point-of-Sale (POS) software is a vital tool for businesses in various industries, including retail chains, restaurants, hotels, drug stores, auto shops, and more. This technology enables cashless transactions, sales tracking, inventory data management, sales strategy formulation, and employee management analytics. Advanced features include real-time updates, online channels, and e-commerce integration. POS systems come in different forms, such as cloud-based mPOS software and web-based POS solutions, with compatibility across various operating systems and payment methods. Security is a top priority, with features like fraud detection, authentication measures, and integration with hardware like PoS terminals. The evolution of technology has led to advanced functionalities like dynamic pricing optimization, generative AI, and personalized shopping experiences. The flexibility of cloud deployment and on-premise solutions caters to merchants’ diverse needs, while e-commerce and omnichannel retailing enhance business intelligence and advanced analytics. The integration of digital payments, mobile wallets, and cybersecurity measures promotes financial inclusion and cashless economies.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

DeploymentOn PremiseCloudEnd-userRetailHospitalityGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Siemon Introduces Bundled Fiber Trunks for Faster, More Efficient Network Deployments

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The Siemon Company, a global leader in network infrastructure solutions, is proud to announce the launch of its new Bundled Fiber Trunks. Designed to streamline fiber optic network installations and reduce deployment time, Siemon Bundled Fiber Trunks offer a cost-effective and reliable option for a variety of projects.

WATERTOWN, Conn., Nov. 23, 2024 /PRNewswire-PRWeb/ — The Siemon Company, a global leader in network infrastructure solutions, is proud to announce the launch of its new Bundled Fiber Trunks. Designed to streamline fiber optic network installations and reduce deployment time, Siemon Bundled Fiber Trunks offer a cost-effective and reliable option for a variety of projects.

Siemon Bundled Fiber Trunks are a game-changer for network installations. By simplifying the process and reducing installation time, we’re empowering our customers to achieve their project goals more efficiently and effectively.

Siemon Bundled Fiber Trunks combine high-performance fiber cables into a single, easy-to-manage bundle, optimizing pathway fill and significantly accelerating installation. With up to a 50% faster deployment rate, this innovative solution helps businesses and organizations reduce project costs and time-to-market.

“Siemon Bundled Fiber Trunks are a game-changer for network installations,” said Tony Walker, Siemon Fiber Product Marketing Manager. “By simplifying the process and reducing installation time, we’re empowering our customers to achieve their project goals more efficiently and effectively.”

Key features of Siemon Bundled Fiber Trunks include:

Streamlined installation: Reduced pathway fill and faster deploymentExceptional performance: Equivalent to single-jacket fiberDurability: Robust construction for reliable performanceVersatility: Available in a wide range of configurations

For more information about Siemon Bundled Fiber Trunks and other Siemon products, please visit www.siemon.com.

About Siemon

Established in 1903, Siemon is an industry leader specializing in the design and manufacture of high-quality, high-performance IT infrastructure solutions and services for Data Centers, LANs, and Intelligent Buildings. Headquartered in Connecticut, USA, with global sales, technical, and logistics expertise spanning 150 countries, Siemon offers the most comprehensive suites of copper and optical fiber cabling systems, racks, cable management, and Intelligent Infrastructure Management solutions. With more than 400 patents specific to structured cabling, Siemon Labs invests heavily in R&D and the development of Industry Standards, underlining the company’s long-standing commitment to its customers and the industry. Through an ongoing commitment to waste and energy reduction, Siemon’s environmental sustainability benchmarks are unparalleled in the industry.

Contact Information

Brian Baum

brian_baum@siemon.com

Media Contact

Brian Baum, Siemon, 1 8609454200, brian_baum@siemon.com

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SOURCE Siemon

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Oberon Securities Advises Keens Steakhouse in Sale Transaction

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Oberon Securities acted as exclusive advisor to Keens Steakhouse in the sale transaction.

NEW YORK, Nov. 23, 2024 /PRNewswire-PRWeb/ — Oberon Securities, a New York-based middle market investment banking firm, acted as exclusive advisor to Keens Steakhouse in the sale transaction announced yesterday.

With more than 70 senior bankers serving businesses across the country and around the world, Oberon is one of the fastest growing New York City based middle-market investment banking firms. Its clients benefit from the market credibility associated with the firm’s longstanding relationships with many of the nation’s largest and most prestigious institutional investors. Oberon’s approach has generated numerous long-term, multi-transaction client engagements and attracted investment bankers who have spent their careers working with middle-market companies.

Media Contact

Steven Alschuler, Oberon Securities, 1 917-647-2151, steve@alschulerpr.com, https://oberonsecurities.com/

View original content to download multimedia:https://www.prweb.com/releases/oberon-securities-advises-keens-steakhouse-in-sale-transaction-302314708.html

SOURCE Oberon Securities; Oberon Securities

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Specified Technologies Inc. Unveils Firestop Clash Management and Locator Updates

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SOMERVILLE, N.J., Nov. 23, 2024 /PRNewswire/ — Specified Technologies Inc. has announced their latest Firestop Clash Management (FCM) and Firestop Locator (FSL) releases. FCM automates the process of locating and assigning firestop solutions to conditions within Autodesk® Revit®, enabling firestop novices to find firestop solutions like a firestop expert. In this latest release, STI has further expanded the capabilities of FCM by integrating it with their firestop documentation and compliance tool, Firestop Locator (FSL). FSL enables contractors and facilities’ teams to document the status, location, and products used for any and all fire life safety services across a building.

In the latest update for FSL, teams can now create custom items to track any service on their project beyond the base six (Penetration, Joint, Extinguisher, Door, Damper, and Barrier). Teams can also modify the base six items to include project specific inspection and maintenance requirements and any other details that they would like to be tracked.

With this new integration, decisions made during the design phase of a building using FCM are seamlessly passed into FSL during the construction phase, giving implementation teams a jump start on work to be done. This integration also improves data integrity and eliminates the guesswork in the field of determining what firestop systems and products are to be used where.

“We’re proud of the latest releases of FCM and FSL and look forward to continuing to support the fire life safety community,” says Justin Pine, Sr. Manager of Software & Services.

Specified Technologies Inc. promotes life and building safety by developing innovative fire protection systems and accompanying digital tools that help stop the spread of fire, smoke, and hot gases. Our SpecSeal® and EZ Path® product lines are engineered for easy installation and deliver powerful performance, often resulting in lower installed costs. Since firestopping is our only business, we concentrate all our resources on providing the highest quality, fully tested, innovative firestopping solutions.

Contact: Jess Bern; jbern@stifirestop.com

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SOURCE Specified Technologies, Inc.

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