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Feb. 16, 2020, 11:49 a.m. EST

POS System Market Size, Share 2020|Industry Forecast with Growth Prospects, Pipeline Projects, Development Status, Project Economics and Survey till 2023 by MarketReportsWorld.com

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Feb 16, 2020 (The Expresswire) -- POS System Industry 2020- Global Market Research report includes a comprehensive analysis of the POS System Market size, growth, and share, trends, consumption, sections, application and Forecast 2023.

The " POS System " Market 2020-2023 Report involve of strong research on global POS System industry which enables the customer to look at the possible requirement as well as prediction. The constraints and drivers are assembled after a significant study of the global POS System market’s proficiency. The development ratio which is expected in perspective of the rational analysis provides thorough information of the worldwide POS System industry.

Get a sample copy of the report at- https://www.marketreportsworld.com/enquiry/request-sample/12347274

Moreover, development policies and plans are discussed as well as manufacturing processes and cost structures. This report also states POS System market trend, import/export, supply and consumption figures as well as cost, price, revenue and gross margin by regions, and other regions can be added.POS System market forecast For the period of 2020-2023, this study provides the POS System sales, revenue and market share for each player covered in this report.

TopManufacturersListed inthe POS System Market Report are:

  • Seiko Epson Corp

  • ShopKeep

  • Ingenico SA

  • VeriFone System Inc.

  • Dell

  • Hewlett Packard Enterprise

  • Panasonic Corporation

  • Honeywell International Inc.

  • Samsung Electronics

  • Casio Computer Co. Ltd

  • Pax Technology Inc.

  • NCR

  • Shopify

  • Revel Systems.

The POS systems market is expected to register a CAGR of over 10.9%, during the forecast period of 2018-2023. The report profiles the POS hardware, software, and service providers for various industries.

POS systems have evolved from being transaction-oriented terminals/devices to a system that can integrate with the company’s CRM and other financial solutions. This evolution has empowered end users with business intelligence, to better manage their revenue streams and inventory. Owing to these functional benefits that the advanced POS systems offer, companies have replaced their traditional billing software with POS systems, thus augmenting the growth of the POS system market.

The POS system market includes POS terminals, in addition to supporting devices, such as barcode scanners, card readers, printer devices, cash drawers, etc. Mobile POS systems that can be integrated with other business solutions, like CRM, are also included under the scope of the report.

The growing end-user industries provide significant scope for growth of the market studied, during the forecast period. The need for customer retention and growth of the industries facilitate the growth of POS systems. The rising financial frauds across the globe have influenced the governments and regulatory bodies to secure the payment transactions, in the recent times. With customers demanding safe and reliable digital transactions, the need for secure payment processes has only increased. These regulatory bodies have positively influenced the adoption of POS systems.

With the increasing mobility trends across the globe, mobile POS systems are gaining traction. In addition to eliminating long payment lines, mobile POS solutions in the market are capable of tracking inventory and ordering necessary shipments.

Cloud-based POS systems are on the rise, compared to the on-premise systems, due to the functional benefits that they offer. According to the Retail Solutions Providers Association (RSPA), around 62% of new merchants prefer cloud-based POS systems, while the remaining opt for on-premise systems.

The market studied is fragmented, and comprises POS hardware and accessory providers (such as Epson, Ingenico, VeriFone, etc.,) and cloud-based POS solution providers (such as ShopKeep, Vend, etc.). Technology majors, such as HP, Honeywell, Dell, etc., are offering POS hardware, software, service, and support, in one integrated system.

Customer Experience is Top Priority

Customer engagement by personalization is one of the top priorities for retailers/merchants, as mentioned by Forbes, in its report titled ‘Five Trends Shaping the Future of Customer Experience, 2018’. The other priorities are - adoption of cloud-based systems, augmented reality, etc.

Mobile wireless printers, for use with in-store mobile POS systems, make customer engagement easier and are available in the market. Mobile POS systems are being equipped with software that enable communication of customer data with the store’s centralized system.

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