Scope of the Study
The global retail POS system market is expected to grow at a healthy pace during the forecast period, according to the AMA study. The rising demand for organised retail stores, increasing demand for cashless payment terminals in retail sector, and the growing demand for automation in the retail & e-commerce sector are expected to be some of the major factors aiding into the growth for the market. However, the market is expected to witness a slight decline in the growth during the next few years but it is again expected to rise with a healthy pace after the COVID-19 pandemic is over.
The market study is being classified by Type (Fixed and Mobile), by Application (Department Stores, Hypermarkets/Supermarkets, Warehouse, Convenience Stores, Discount Stores, Specialty Stores and Others) and major geographies with country level break-up.
NEC Corp (Japan), Hewlett-Packard Company (United States), Ingenico (France), Micros Systems, Inc. (United States), NCR Corporation (United States), Pax Technology Inc. (China), Panasonic (Japan), Revel Systems (United States), Samsung Electronics Co., Ltd. (South Korea), VeriFone Holdings, Inc. (United States), Oracle (United States), Agilysys, Inc. (United States), Clover Network, Inc. (United States), Diebold Nixdorf (United States), PAR Technology Corporation (United States), SAP (France) and Toshiba Tec Corporation (Japan) are some of the key players profiled in the study.
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Retail POS System market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Retail POS System market by Type, Application and Region.
On the basis of geography, the market of Retail POS System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising Demand for Organised Retail Stores
- Rising Demand for Cashless Payments in Retail Sector
- Growing Demand for Automation in Retail & E-Commerce Sector
- Increasing Technological Advancements & Innovations in Point-of-Sale (POS) Technologies such as Adoption of Artificial Intelligence in POS Terminals
- The Outbreak of COVID-19 Pandemic is one of the Major Restraints for the Market as Most of the Industries have been Facing Economic Crisis & Ongoing Developments have been Stopped Across the World for an Ambiguous Period of Time
- Opportunities in the Asia Pacific Region
- Lack of Retail Automation Infrastructure in Some of the Regions
Stringent Worldwide Government Regulations Regarding Shutting Down the Production & Services Across Different Countries of the World to Avoid the Spread of COVID-19
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