The Asia Pacific Point-of-Sale Software Market would witness market growth of 11.5% CAGR during the forecast period (2022-2028).
Due to its accessibility and affordability via the Internet or web browser, web-based POS software has gained traction among small and medium-sized businesses, predicted to accelerate market growth over the forecast period. In addition, the increased demand for cloud-based solutions has created favorable conditions for cloud-based point-of-sale software, driving the market growth. Moreover, the point-of-sale (POS) software market is driven by the need to execute cashless transactions, track sales, and inventory records, and establish sales strategies through analytics in retail chains, restaurants, hotels, pharmacies, auto shops, etc.
In the previous two decades, the expansion of internet access and several technical breakthroughs, including 5G, blockchain, Internet of Things (IoT), cloud services, and Artificial Intelligence (AI), among others, have contributed considerably to the expansion of the economy. In addition, the expansion of the ICT industry has contributed greatly to the rise of the economy's gross domestic product, labor productivity, and spending on research and development, among other economic shifts. In addition, creating goods & services in the IT industry contributes to economic growth and expansion. These are a few of the significant variables that are driving market expansion.
India's tourism & hospitality sector has grown amongst one of the key drivers responsible for developing the nation's services economy as one of the most popular travel destinations across the world. Moreover, India's tourist industry has a lot of potential since, like many other countries, travel and tourism are significant sources of foreign exchange. The travel and hospitality sector, which includes accommodations like hotels and restaurants, is often recognized as a development engine, a driver of socioeconomic growth, and a key source of foreign exchange earnings in many countries. In addition to promoting India's wonderful history, culture, and diversity, tourism has a significant positive impact on the nation's economy. These factors are boosting the regional market's expansion.
The China market dominated the Asia Pacific Point-of-Sale Software Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,719.8 million by 2028. The Japan market is estimated to grow a CAGR of 10.9% during (2022 - 2028). Additionally, The India market would display a CAGR of 12.2% during (2022 - 2028).
Based on Application, the market is segmented into Fixed POS, and Mobile POS. Based on Deployment Mode, the market is segmented into On-Premise, and Cloud. Based on Organization Size, the market is segmented into Large Enterprises, and SMEs. Based on End User, the market is segmented into Retail, Restaurants, Hospitality, Warehouse, Healthcare, Entertainment, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Point-of-Sale Software Market is Projected to reach USD 20 Billion by 2028, at a CAGR of 10.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Fiserv, Inc. (Clover Network, Inc.), Oracle Corporation, Toast, Inc., NCR Corporation, Revel Systems (Welsh, Carson, Anderson & Stowe), MSL Solutions Limited (Pemba Capital Partners), Block, Inc., H&L POS (Valsoft Corporation), Idealpos Solutions Pty Ltd and TouchBistro, Inc.
By Application
By Deployment Mode
By Organization Size
By End User
By Country
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