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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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

NEW YORK , Nov. 6, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global model kits for hobbyists market size is estimated to grow by USD 219 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 3.65% during the forecast period. Growing disposable income of middle-class population is driving market growth, with a trend towards growing application of 3d printing. However, seasonal demand and short life of merchandise and collectibles poses a challenge.Key market players include ABER, Academy Plastic Model Co. Ltd., Accurate Armour Ltd, Aoshima Bunka Kyozai Co. Ltd., Arma Hobby S.C., Dragon Models Ltd., Hasegawa Corp., Heller Hobby GmbH, Hong Kong Models Co. Ltd, Hornby Hobbies Ltd., Italeri SpA, Moebius Models, Motormax Toy Factory Ltd., Ningbo Weijun Culture Development Co. Ltd. , Revell GmbH, Round2 Corp. LLC, Tamiya Inc., TM MINIART MODELS, Waltersons Industries Group Ltd., and Yatai Electric Appliances Co. Ltd..

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Market Driver

The 3D printing trend in the model kits for hobbyists market presents both opportunities and challenges. While this technology may increase demand for collectible and model kits, it also raises concerns regarding copyright and trademark infringements. As 3D printers become more affordable, licensors are taking steps to protect their intellectual property. Some, like Sesame Workshop, are granting licenses to 3D printing companies, allowing them to produce licensed merchandise. This not only distinguishes these products from unlicensed items but also generates revenue for the licensors. Companies such as Stratasys, MakerBot, and 3D Systems have secured licenses, enabling them to print Sesame Street merchandise, among others. These innovations are expected to create new growth opportunities for vendors in the global model kits for hobbyists market. 

The hobbyists market, fueled by the growing middle-class population and increased access to TV, internet, and online sales, is experiencing a demand for model kits. Trends include 3D printing, licensed merchandise from movies and TV franchises, and nostalgic replicas of vehicles, aircraft, and character models. E-commerce platforms and digital design tools enable home-based activities, while eco-consciousness influences sustainable packaging and limited editions. Consumer behavior favors customization and strategic engagement through online communities. Tamiya Models leads the industry with plastic and scale models, offering static display options for military vehicles, civilian vehicles, tanks, ships, and character models. Consumers seek educational value, craftsmanship, and the thrill of building their own collector items. Online and offline stores cater to diverse preferences, with opportunities for customization and community building. Environmental sustainability is a growing concern, driving the adoption of eco-friendly materials and practices.

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Market Challenges

Efficient merchandise management is crucial for retailers in the model kits for hobbyists market due to the sector’s fragmented nature and the extreme sensitivity of consumer demands. Retailers must forecast demand accurately to procure merchandise effectively. Model kit manufacturers frequently expand or discontinue product lines, making sourcing goods challenging. The popularity of TV and movie merchandise is transient, with most sales occurring around their release. Retailers prefer evergreen merchandise to minimize dead stock accumulation. TV merchandise sales are typically post-aired, and retailers often pre-stock movie merchandise, risking dead stock if the movie underperforms. These factors may hinder the growth of the global model kits for hobbyists market.The Model Kits For Hobbyists market encompasses various segments, including Craft, E-commerce, Digital design, Home-based activities, Eco-consciousness, and Consumer behavior. Challenges in this industry include limited editions and collector items, sustainable packaging, and online platforms. Brands like Tamiya, Plastic Model, Scale Model, and Kit producers cater to diverse consumer bases with static display models of Aircraft, Cars, Tanks, Ships, Character models, and more. Customization, consumer engagement, and environmental sustainability are strategic priorities. High-cost, technological insights, and collaborations with Military Command, Film Making, Architecture, and Science Fiction brands drive demand. Offline stores coexist with online sales channels, and salesmanship remains crucial. Round 2, Snap-together models, and Military vehicles, Civilian vehicles cater to various consumer preferences. Craft stores and service launches contribute to market growth.

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Segment Overview

This model kits for hobbyists market report extensively covers market segmentation by

Type1.1 Automobiles1.2 Military vehicles1.3 Aircraft1.4 Ships1.5 OthersEnd-user2.1 Beginner2.2 ProfessionalGeography3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Automobiles- The model kits for hobbyists market is primarily driven by the popularity of automobile-related models. Iconic vehicles like the Ford Mustang and Porsche 911 remain top choices for enthusiasts. Modern hypercars, such as the Bugatti Chiron, have also gained significant attention. Intricate modification kits enable hobbyists to customize their models with unique paint jobs, decals, and aftermarket parts. Technological advancements enhance the level of detail and realism in these kits, providing a more engaging experience. Traditional plastic models continue to dominate, but niche areas like remote-controlled model cars and metal DIY kits are emerging to cater to diverse automobile hobbyist preferences. These factors are projected to fuel the expansion of the global model kits for hobbyists market.

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Research Analysis

The hobbyists market, fueled by the growing middle-class population and increased access to media like TV and the internet, has seen a demand for model kits. Online sales have become a significant revenue stream, with e-commerce platforms and digital design tools enabling hobbyists to create and purchase models from anywhere. The trend towards 3D printing and licensed merchandise, particularly for movie and TV franchise tie-ins, has also boosted sales. Replicas of vehicles, aircraft, military equipment, and ships are popular choices, appealing to both nostalgia and educational value. Craft activities have gained traction as home-based hobbies, while eco-consciousness influences consumer behavior, leading to sustainable packaging and limited editions. Online platforms and community building have further enhanced the hobbyists’ experience, making it a thriving industry for collectors and enthusiasts alike.

Market Research Overview

The hobbyists market for model kits is experiencing a resurgence, fueled by the growing middle-class population with access to TV and the internet. Online sales are on the rise, with e-commerce platforms and digital design tools enabling home-based activities. 3D printing technology adds a new dimension to model making, while licensed merchandise, movie, and TV franchise tie-ins cater to nostalgia and consumer demand. Replicas of vehicles, aircraft, ships, and character models are popular, offering educational value and customization opportunities. Eco-consciousness is influencing consumer behavior, with sustainable packaging and limited editions becoming essential. Strategic engagements, collaborations, and community building are key to growing the consumer base. Tamiya Models and other brands offer a wide range of plastic and scale models for static display, including military vehicles, civilian vehicles, snap-together kits, and architectural models. The market also includes models for filmmaking, military command, and even science fiction. Despite the high cost, the hobby continues to attract enthusiasts through technological insights and the satisfaction of creating intricate replicas.

Table of Contents:

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

TypeAutomobilesMilitary VehiclesAircraftShipsOthersEnd-userBeginnerProfessionalGeographyNorth AmericaEuropeAPACSouth 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

Donation to Mike Rowe’s foundation helps Veterans gain necessary training for in-demand, skilled trade jobs on American soil

COVINGTON, Ga., Nov. 6, 2024 /PRNewswire/ — In honor of Veterans Day on Nov. 11, and in recognition of the service of America’s military Veterans, the Veteran-led nationwide cell phone service provider, PureTalk, today announced its donation of $50,000 to the mikeroweWORKS Foundation. The foundation is dedicated to filling the skills gap America is currently facing by providing scholarships and training to acquire skilled labor jobs to motivated individuals, including our Veterans, to help them find sustainable employment as they transition to civilian life. 

PureTalk and its customers remain deeply committed to supporting Veterans in their journey back to civilian life. Since January 2023, PureTalk and their customers contributed nearly 400,000 individual donations to AWP, a non-profit organization that connects Veterans and their families with critical mental health resources in their local communities. Recently, contributions from PureTalk customers in the wake of Hurricanes Helene and Milton have helped drive a 384% increase in donations to AWP.

“No matter how quickly the world changes, the qualities of successful individuals are still the same,” said Mike Rowe, best known as the creator and host of the hit TV series Dirty Jobs and founder of the mikeroweWORKS Foundation. “The principles of hard work, determination and respect for others are always in demand and a big part of scholarships. I’m grateful to PureTalk for their generous support of Veterans central to our scholarship program.”

On a recent episode of “The Way I Heard It with Mike Rowe” podcast, combat Veteran, former Staff Sergeant, and Medal of Honor recipient, Clint Romesha, a PureTalk Brand Ambassador, discussed his experiences in the military and finding work after service, along with his work with PureTalk and the critical importance of supporting Veterans. Driven by a purpose of patriotism and a commitment to supporting Veterans and their families, PureTalk contributes to organizations that honor and assist those who bravely serve our country. By choosing PureTalk, customers not only receive exceptional wireless service but also make a meaningful impact on the lives of servicemen and women. For more information about how PureTalk supports hard-working Americans, visit www.PureTalk.com.

About PureTalk
Veteran-led and founded in 2004, PureTalk is a nationwide cell phone service provider offering unlimited plans starting at $25/month. With customer service in the U.S., support of our military, and a 100% money-back guarantee, PureTalk is focused on delivering the best customer experience and unlimited plans at a fair price, all on the nation’s most dependable 5G network. At PureTalk, patriotism drives our purpose. We are committed to supporting our Veterans and their families. We contribute to organizations that honor and assist those who bravely serve our country. By choosing PureTalk, you’re not only getting great wireless service but you’re also making a meaningful impact on the lives of our servicemen and women. Visit puretalk.com for additional information.

About mikeroweWORKS
The mikeroweWORKS Foundation is a 501(c)(3) public charity that challenges myths and misperceptions about the skilled trades and helps close the skills gap. Through its Work Ethic Scholarship Program and work ethic curriculum, mikeroweWORKS strives to help people get trained for in-demand, skilled jobs and give the next generation of skilled workers a new appreciation for work ethic. Since its inception, it has granted more than $11 million in work ethic scholarships to more than 2,000 recipients, and its work ethic curriculum is currently implemented in more than 50 high schools and colleges nationwide.

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SOURCE PureTalk