Point of sale also known as POS is used to refer to the point or location where sales transaction takes place, as in checkout line or at a retail counter. Point of sale system is combination of hardware and software that manages the sales transaction.
There are numerous advantages of using point of sale automation system compared to traditional cash register, as a computer is able to store, share and keeps track of sales, payment and customer information. Point of sale automated system saves lots of time and increases accuracy and efficiency in inventory reporting and ordering.
Point of Sale Automation System Market: Drivers, Restraints and Trends
The increase in cloud based point of sale services is the latest trend in the point of sale automation market. Use of beacons in stores is the rising trend in the point of sale automation system market.
Retail sector is major driving factor of the point of sale automation system market as point of sale automation system has made shopping experience convenient and easy and significantly enriched customers expectation for better quality of services. There has been huge deployment of fixed point of sale terminals at big retail stores.
Whereas mobile point of sale terminals are being used by small and medium sized shopkeepers and restaurant owners due to ease of access. Rise in the income level and convenience in retail automated products during shopping is another factor driving the market.
The high return on investment and ease of use is helping the point of sale automation system market to grow. The wide range of applications areas of point of sale automated system such as in payments, inventory management, printing bills, hospitality and entertainment is boosting the revenue of point of sale automation system market.
Higher reliability of point of sale automated systems compared to conventional cash registers and lower operating cost of the point of sale automated system is helping the point of sale automation sector market to reach out to small and medium sized business. The advantage of mobile point of sale automated system equips services and sales industries with the ability to handle financial transactions at customers home.
Rising security concerns on potential data breaches is a restrain for point of sale automated system market.
Point of Sale Automation System Market: Segmentation
Global point of sale automation system market is segmented by type of operation, on the basis of mobility, by components, by application area, region. By type of operation the point of sale automation system market is segmented into attended point of sale terminal and unattended point of sale terminal.
Point of sale automation system market segmentation on the basis of mobility is done as fixed point of sale terminals and mobile point of sale terminals.
On the basis of components, the global point of sale automation system market can be segmented into point of sale hardware and point of sale software.
On the basis of application, the global point of sale automation system market can be segmented into retail, entertainment, restaurant, healthcare, hospitality, warehouses/distribution and others. Others is further sub segmented into transportation and government.
On the basis of region, the global point of sale automation system market can be segmented into seven major regions, including: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan, and Middle East & Africa.
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Point of Sale Automation System Market: Key Players
Some key players of the point of sale automation system market are Datalogic Technologies Pvt. Ltd., First Data Corporation, Fujitsu, Posiflex Technology Inc., NCR Corp., Honeywell International Inc., Pricer, Starmicronics, Sato Holding corp., Epson, Printronix, NCR corp., Wincor Nixdorf International GmbH, Toshiba Global Commerce Solutions Inc., MICROS Systems Inc., NEC Corporation, VeriFone Systems Inc.
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