2021 Global Point of Sale (POS) Market Forecast to Grow at a CAGR of 15.6%
Global POS value set to reach USD 18.79 billion by 2026
Main POS Facts and Figures of the Report
Despite a turbulent year in 2020, the Point of Sale (POS) market is set to see a continual Compound Annual Growth Rate (CAGR) of 15.6% according to research conducted by 360 Research Reports. This means the industry, as a whole, will see an increase in growth from USD 7.9 billion in 2020 to USD 18.8 billion in 2026.
What Factors Are Considered When Projecting the CAGR of the Global POS Market?
When compiling the relevant data to calculate the POS market’s CAGR, the following things had to be considered: “SWOT analysis, expert opinions and the latest developments across the globe.” Furthermore, “market size, Point-of-Sale (POS) System Sales, Price, Revenue, Gross Margin and Market Share, cost structure and growth rate” all had to also be taken into account for the most accurate predictions. Finally, because of the impact that COVID-19 has had on the world, the following COVID-related issues have also been taken into consideration: “[how it is] affecting production and demand, [how it is] creating supply chain and market disruption, and its financial impact on firms and financial markets.”
Which Countries and Regions are Included in the Report?
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
10 Tips on Choosing the Right POS Solution for Your Restaurant
Given the increased role that technology is playing in today’s F&B industry, it is important to take your time and choose a POS system that offers your business the right tools for success and future growth. Below are some key features that you should consider when purchasing a POS system
- Is the user interface intuitive?
- Does it scale up with your business (enterprise features)?
- Does it offer a robust set of modules and features?
- Can it integrate with local third-party solutions (like popular payment providers)?
- Is it multilingual (useful for locations like Hong Kong, Singapore, Malaysia and Taiwan with populations that speak multiple languages)?
- Does it offer CRM and loyalty features?
- Is delivery supported?
- Is the solution cloud-based?
- How detailed is the included accounting and data suite?
- Does the POS solution benefit your business or do you have to compromise to use it?