From GlobeNewswire:

A recent report titled “POS Payment Market” by Allied Market Research shows that the global POS payment industry generated $96.6 trillion in 2022 and is expected to reach $277.9 trillion by 2032, with a CAGR of 11.4%. Point of sale payment systems are seen as a prime growth determinant, as they streamline retail operations and automate transactions while tracking sales data. The use of data capture devices like card readers and barcode scanners is also contributing to growth, along with features that allow retailers to track pricing, manage inventory, and tailor purchasing and marketing to consumer behavior.https://www.alliedmarketresearch.com/request-sample/A10023.

By 2032, the hardware segment of POS payment is expected to maintain its leadership status, accounting for three-fifths of the global market revenue. The use of contactless technology and mobile POS devices is the key driver of this growth, while the software segment is projected to experience the highest CAGR of 13.5%, due to the growing popularity of cloud-based POS solutions for their scalability and accessibility. https://www.alliedmarketresearch.com/purchase-enquiry/A10023.

Fixed POS looks set to maintain its leadership status throughout the forecast period, accounting for more than three-fifths of the global POS payment market revenue, primarily because of the advanced features such as touchscreens and biometric authentication, to streamline transactions. However, mobile POS is projected to experience the highest CAGR of 12.9%, given that these devices provide businesses with flexibility and improve customer engagement on the sales floor.https://www.alliedmarketresearch.com/.

The retail segment is expected to continue leading the POS payment market during the forecast period, contributing to more than two-fifths of the market revenue. The use of omnichannel strategies and system integration has made this possible. Yet, the transportation segment is projected to have the largest CAGR of 16.4%, due to the prevalence of contactless payments and mobile ticketing. https://www.alliedmarketresearch.com/.

North America held the highest market share in terms of revenue in 2022 and is projected to maintain its dominance by 2032. On the other hand, Asia-Pacific is expected to witness the fastest CAGR of 14.6% and is likely to dominate the market during the forecast period. This is driven by the rapid adoption of mobile payment solutions, mobile wallets, and QR code payments in countries like China. https://www.alliedmarketresearch.com/.



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