Point Of Sales Marketing Market Driven by the growing disruption caused by COVID 19 (SARS-CoV-2, Covid-19 Analysis)

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Point Of Sales Marketing Market

The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Point Of Sales Marketing Market. The growth sectors of the Point Of Sales Marketing Market are identified with precision for a better growth perspective.

As per MRFR’s analysis, the Global POS Software Market 2020 was valued at USD 14.10 billion in 2018 and is slated to reach USD 34.77 billion by 2025, expanding at a CAGR of 14.27% during the forecast period, 2019–2025.

Market Highlights

The growing adoption of smartphones , tablets, and other smart handheld devices, changing payment options that include increasing use of credit cards, debit cards , and other digital payment wallets, and government support driving the development of high-speed networks such as 3 G , 4 G, and 5 G are some of the major drivers of POS software market growth. Increasing demand among retailers , restaurants, hotels , resorts, grocery stores / supermarkets and cafés to manage entire business operations such as inventories, sales, customer loyalty and single platform marketing have created a significant demand for POS systems. POS payment gateway software helps companies improve customer engagement, customer satisfaction ratio, and overall customer experience.

Owing to the increasing adoption of contactless payment solutions and the integration of AI technology with the software the market is expected to offer growth opportunities. However, growing concerns regarding data security are a major market restraining factor. Emerging technologies like IoT and machine learning have a major impact on the market for POS software. Some of the recent trends in the POS software market include AI integrated POS software, mobile POS system, customized shopping experience and cloud-based POS software.

Segmental Analysis

The global POS software market has been analysed on the basis of component, type, deployment, operating system, application, end-user, and region.

Based on component, the market has been bifurcated into software and services.

Based on the type, the market has been divided into fixed POS and mobile POS.

Based on the deployment, the market has been bifurcated into on-cloud and on-premise.

Based on the operating system, the market has been segmented into Android, iOS, and Windows.

Based on the application, the market has been segmented into sales reporting, inventory tracking customer engagement,, purchasing management, and others.

Based on the end-user, the market has been categorized into BFSI, media & entertainment, retail, transportation, hospitality, and others.

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