The Asia Pacific POS Security Market would witness market growth of 9.4% CAGR during the forecast period (2022-2028).
Employing technology that shields against POS malware will help organizations defend against such attack vectors. This involves utilizing code signing to avoid tampering, whitelisting particular technology to guard against unauthorized operations, and utilizing chip readers to save customers from having to scan the debit and credit cards and making it more challenging for attackers to copy card data. Because of the enormous number of known and unknown risks that exist, as well as the value that POS system data has to hackers, POS security is difficult.
Additionally, since new POS malware is always being developed or updated, there are an increasing amount of threats to POS systems. Despite these difficulties, businesses should prioritize POS security since these systems manage sensitive data about customers and a breach of customer payment details could be extremely costly both financially and in terms of harm to the company's reputation.
This is especially true for businesses in the retail, food service, hospitality, and other industries that depend heavily on POS systems. Businesses can significantly lower their risk of encountering an expensive POS security event by putting safeguards in place to secure POS systems and transactions and teaching workers on POS security practises. Although it is unlikely that employees will use the POS systems of their companies to launch an attack, malevolent insider action or human error are both possibilities.
APAC nations are investing more and more in retail POS initiatives. China, Japan, India, and the rest of APAC make up the sub-segments of the regional retail POS market. There is a constantly expanding client base brought on by the importance of SMEs and the decline in TCO. Benefits of retail POS systems, such as short wait times, high levels of security, the availability of paperless receipts, reduced need for check-out area, and increased floor space, will support the expansion of the retail POS market in the region.
The China market dominated the Asia Pacific POS Security Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $549.2 Million by 2028.The Japan market is estimated to grow a CAGR of 8.7% during (2022 - 2028). Additionally, The India market would experience a CAGR of 10.1% during (2022 - 2028).
Based on Offering, the market is segmented into Solution and Services. Based on Organization Size, the market is segmented into Large Enterprises and SMEs. Based on Vertical, the market is segmented into Retail, Restaurants, Hospitality 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 POS Security Market is Projected to reach USD 6.6 Billion by 2028, at a CAGR of 8.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, NCR Corporation, Fortinet, Inc., Check Point Software Technologies Ltd., Thales Group S.A., PayPal Holdings, Inc., Micro Focus International PLC, Kaspersky Lab, VeriFone Holdings, Inc. (Francisco Partners), and TokenEx, LLC
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