About POS software
A POS terminal refers to an electronic payment system or a combination of systems that transfers funds electronically with the use of payment modes such as credit and debit cards. A POS system facilitates easy and faster check-out for customers at various retail outlets. A standard POS system consists of a computer, monitor, cash drawer, receipt printer, barcode scanner, POS software, weighing scale, and credit and debit card readers. The POS software is a significant part of a POS system. It includes automated applications that perform key activities for an establishment. It is widely used for retail sales management. Apart from enhancing the shopping experience for customers by reducing the processing time for payments, the POS software enables companies to obtain and centralize information pertaining to the sales of their respective products.POS software is considered to be a replacement for electronic cash registers that are installed at retail stores or hotels. It is the front-end of any transaction carried out at POS terminals and provides a link to back-office processes. POS software feeds information to back-office processes such as inventory management, ordering, loyalty programs, and CRM. It runs on operating systems such as DOS, Linux, UNIX, and Windows. The software can be installed in both fixed line and wireless POS terminals. In both cases, it transfers information to the databases used by merchants.
Technavio's analysts forecast the revenue of POS software market in EMEA to grow at a CAGR of 3.3% during 2014-2019.
Covered in this report
In this report, Technavio presents the current scenario and growth prospects of the POS software market in EMEA for 2015-2019. To calculate the market size, we consider the revenue generated through perpetual licensing to the end-user segments. We do not consider the following for calculating the market size:
Technavio Announces the Publication of its Research Report – POS Software Market in EMEA 2015-2019
Technavio recognizes the following companies as the key players in the POS Software Market in EMEA: Agilysys, Epicor Software, Ingenico, NCR, Oracle, SAP and VeriFone Systems
Other Prominent Vendors in the market are: AccuPOS, CrossView, IBM, JD Associates, Maitre'D POS, ParTech, PayAnywhere, PayPal Here, PC America, Positouch, Raymark, Revel Systems, Sage, Sale Point, Silverware POS, Speedline, Squirrel Systems, Toshiba GCS and Yes! POS
Commenting on the report, an analyst from Technavio’s team said: “One of the key trends in the market is the new liability shift toward payment service providers, wherein payment service providers having weak authentication processes will be liable for any disputed transactions that take place at terminals. This trend will compel the payment service providers to propose enhancements at the merchant's end, including upgrading POS software solutions with strong security standards and implementing security policies.”
According to the report, the demand for POS software in EMEA is mainly driven by the hospitality sector, followed by retail and other sectors. The hospitality sector has three major sub-segments, namely hotels, fast food chains, and restaurants. Merchants operating these sub-segments focus on industry-specific requirements, which has increased the demand for customized POS solutions and improved the market potential for vendors.
Further, the report states that the emergence of mPOS in the market and its wide acceptance due to features such as multiple payment methods, low cost, reduced operational costs, and enhanced flexibility is posing a challenge to market growth.
Agilysys, Epicor Software, Ingenico, NCR, Oracle, SAP, VeriFone Systems, AccuPOS, CrossView, IBM, JD Associates, Maitre'D POS, ParTech, PayAnywhere, PayPal Here, PC America, Positouch, Raymark, Revel Systems, Sage, Sale Point, Silverware POS, Speedline, Squirrel Systems, Toshiba GCS, Yes! POS
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