NA and EMEA POS Software Market to Grow on Account of Increasing Adoption of POS Software by Small & Medium Enterprises and Surge at 12.7% CAGR by 2031 [230-Pages] | Disclosed by Research Dive
The NA and EMEA POS software market is expected to grow primarily due to rising popularity of point-of sale software. Hospitality sub-segment is expected to flourish immensely. The market in the Middle East and Africa region is predicted to grow at a high CAGR by 2031.
NEW YORK, May 15, 2023 /PRNewswire/ --
NA and EMEA POS Software Market Forecast Analysis:
As per the report published by Research Dive, the NA and EMEA POS software market is expected to register a revenue of $21,140.1 million by 2031 at a CAGR of 12.7% during the forecast period 2022-2031.
Segments of the NA and EMEA POS Software Market
The report has divided the market into the following segments:
- Application: fixed POS and mobile POS
- Fixed POS– Most dominant by 2031
An increasing preference of restaurants and retail shops for fixed POS systems is expected to push this sub-segment in the forecast timeframe. - Deployment Mode: cloud and on-premises
- Cloud– Most lucrative by 2031
The ability of cloud-deployed software to operate remotely with better productivity and flexibility is expected to help the sub-segment grow in the forecast period. - End-User: restaurants, retail, hospitality, healthcare, media & entertainment, and others
- Hospitality – Significant growth by 2031
The rapid adoption of point-of-sale software by contemporary hotels, restaurants, & other comparable venues is expected to augment the growth of this sub-segment. - Organization Size: small & medium enterprises and large enterprises
- Small & Medium Enterprises – Substantial growth rate by 2031
The growing adoption of cloud-based mobile POS software solutions by small and medium enterprises is expected to push the sub-segment higher. - Region: North America, Europe, Middle East, and Africa
- Middle East and Africa – Most profitable by 2031
The rise in adoption of POS software and increase in technological advancements are predicted to propel the market in the forecast period.
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Dynamics of the NA and EMEA POS Software Market
The growing popularity of point-of-sale (POS) software in healthcare sector, especially in North America, is expected to make the NA and EMEA POS software market a highly profitable one in the forecast period. Additionally, growing popularity of data analytics in the POS software to manage consumers' purchase history is predicted to propel the market forward. However, according to market analysts, cumbersome process for rectifying technological issues in POS software in case of any breakdowns might become a restraint in the growth of the market.
Ability of POS software to manage payroll in hospitals, track staff performance, track their working hours, and generate scheduled emails for employees is predicted to offer numerous growth opportunities to the market in the forecast period. Moreover, technological advancements in POS software solutions to boost data analysis, increase mobility, improve flexibility, and provide security are expected to propel the NA and EMEA POS software market forward in the coming period.
COVID-19 Impact on the NA and EMEA POS Software Market
The Covid-19 pandemic disrupted the routine lifestyle of people across the globe and the subsequent lockdowns adversely impacted the industrial processes across all sectors. The NA and EMEA POS software market, however, was positively impacted due to the pandemic. The increasing preference for contactless delivery of goods and services along with cashless transactions led to an increase in demand for point-of-sale software. This growth in demand helped the market grow during the pandemic period
Key Players of the NA and EMEA POS Software Market
The major players of the market include
- NCR Corporation
- Diebold Nixdorf Incorporated
- Enactor Limited
- GK Software SE
- Toshiba Corporation
- Enactor Limited
- Aptos LLC
- Fujitsu
- Sitoo
- Oracle Corporation
These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain market growth.
For instance, in March 2023, Ingenico, a French credit card service company, announced the acquisition of Phos, a phone-based POS software developer. This acquisition is expected to play a huge role in Ingenico's quest to consolidate its lead in the market and establish itself as the leader of the industry.
What the Report Covers
Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)
More about NA and EMEA POS Software Market:
- How do Recent Innovations in POS Systems Deliver New Level Capabilities to Various End-Use Industries?
- Increasing Popularity of Point-Of-Sale Software across the Retail and Restaurant Sector to Boost the Growth of the NA and EMEA POS Software Market
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