TechNavio recognizes the following companies as the key players in the Global POS Software market: Micros Systems Inc., Epicor Software Corp., Oracle Corp., and SAP AG.
Commenting on the report, an analyst from TechNavio’s team said: “One of the main trends witnessed in the Global POS Software market is the stringent regulations for secure payments. In the Americas and the EMEA region, the governments of various countries have introduced stringent regulations with respect to secure payments. The governments in developed countries have imposed a rule for recertification of electronic payment systems employed by the merchants/retailers. Furthermore, with respect to the electronic systems employed by retailers that connect to payment networks, the certification of products and services offered should be obtained from financial institutions, card associations, and payment processors. These certifications have to comply with the government and telecom regulations in various countries. In this case, a majority of retailers will have to change/upgrade their existing POS software to help them obtain this certification. As a result, the Global POS Software market is expected to witness a drastic growth especially in the Americas and the EMEA region.”
According to the report, one of the main factors driving the market is the increasing usage of credit and debit cards. Customers across the globe are increasingly using standard payment cards for their purchases. In addition, a vast majority of these cards, especially those in the EMEA region, are EMV-based. This has necessitated the use of POS terminals and the requisite POS software across the globe.
Further, the report states that one of the main challenges is the slow adoption in developing nations. With the changing economic scenario, the complexity of business operations has increased. Hence, retailers are forced to adopt new technologies, including POS systems, to remain competitive in the market.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are IBM Corp., NCR Corp., and Wincor-Nixdorf.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-pos-software-market-2012-2016
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/it-hardware-software-services
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TechNavio Announces the Publication of its Research Report -Global POS Software Market 2012-2016
