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POS Software Market Projected to Reach $21.31 billion by 2030 – Exclusive Report by 360iResearch
PUNE, India, April 5, 2024 /PRNewswire/ — The report titled “POS Software Market by Functionality (Customer Engagement, Employee Management, Inventory Management), Format (Fixed POS, Mobile POS), Deployment Type, Organization Size, End User – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $11.23 billion in 2023 to reach $21.31 billion by 2030, at a CAGR of 9.57% over the forecast period.
“Revolutionizing Retail and Service Industries: The Global Surge in Cutting-Edge POS Software Adoption“
Point of sale (POS) software is an essential asset for retail and service sectors, enabling businesses to conduct transactions seamlessly and ensuring data security. POS systems have evolved to offer comprehensive services beyond mere transaction processing, including inventory control, customer relationship management, and detailed financial analyses. These digital solutions support various devices, facilitating real-time insights for strategic decision-making. Businesses worldwide are increasingly leveraging POS software to enhance operational efficiency and customer engagement with the rise of mobile and cloud-based technologies, along with integrated payment solutions. Challenges include initial costs and data security concerns, as well as advancements in blockchain, AI, and machine learning, which present promising avenues for growth, particularly in optimizing cybersecurity and refining customer service strategies. The Americas, with its advanced tech infrastructure, is at the forefront of POS innovation, fueled by a strong eCommerce sector. Europe’s demand for POS systems is shaped by its regulatory environment, emphasizing compliance and sustainability. Meanwhile, the APAC region witnesses rapid growth, driven by digital transformation and a shift toward cashless societies, making POS software necessary in modern business ecosystems.
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“Cloud-Based POS Systems Revolutionize Business Operations: A Shift Toward Smarter, More Efficient Retail“
The POS software industry is undergoing a transformative shift as businesses increasingly embrace cloud-based POS solutions, heralding a new era in operational efficiency and market expansion. This move toward cloud services is driven by the demands of the modern retail environment, which prioritizes flexibility, scalability, and real-time functionality. Cloud-based POS systems are preferred for their ability to seamlessly integrate various operations, offer superior security measures, and provide a cost-effective alternative to traditional setups. They offer access to real-time data and analytics, enabling businesses to make well-informed decisions and customize the shopping experience for their customers. Their scalable nature also means that businesses, regardless of size, can easily adjust to evolving market trends and consumer preferences without hefty investments in infrastructure. This technological evolution is especially significant for small and medium-sized enterprises (SMEs), facilitating their access to sophisticated POS solutions and contributing to widespread market growth.
“The Comprehensive Impact of POS Software on Customer Engagement, Employee Management, and Inventory Control“
Point of sale (POS) software is for businesses keen on optimizing operations and enhancing customer relations. POS systems are ingeniously designed to foster customer loyalty through personalized marketing strategies, enabling businesses to offer targeted rewards and promotions based on insightful customer data and purchase histories. Such capabilities significantly boost customer retention and promote recurring business engagements. Moreover, POS software stands as an invaluable asset for augmenting employee productivity, providing essential features like schedule coordination, time tracking, and insightful performance analytics. This streamlines administrative responsibilities, allowing businesses to dedicate more resources to providing unparalleled service. The incorporation of robust inventory management tools within POS systems offers the added advantage of real-time stock monitoring, automatically reorder alerts, and comprehensive analytics, thereby ensuring optimal stock levels, reducing inventory surplus, and facilitating informed decision-making on product selection and procurement. Central to any POS system is its secure and efficient payment processing feature, accommodating diverse payment options and adhering to stringent security standards to safeguard customer information. POS software presents businesses with critical insights into sales trends, customer behaviors, and overall performance, paving the way for strategic planning and sustainable growth coupled with exhaustive reporting and analytics functionalities.
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“Oracle Corporation at the Forefront of POS Software Market with a Strong 7.13% Market Share“
The key players in the POS Software Market include PayPal, Inc., Block, Inc., Oracle Corporation, Toast, Inc., Shopify Inc., and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
“Introducing ThinkMi: Revolutionizing Market Intelligence with AI-Powered Insights for the POS Software Market“
We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the POS Software Market. ThinkMi stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, ThinkMi is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it’s a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive POS Software Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.
Ask Question to ThinkMi @ https://app.360iresearch.com/library/intelligence/pos-software
“Dive into the POS Software Market Landscape: Explore 198 Pages of Insights, 554 Tables, and 26 Figures“
- Preface
- Research Methodology
- Executive Summary
- Market Overview
- Market Insights
- POS Software Market, by Functionality
- POS Software Market, by Format
- POS Software Market, by Deployment Type
- POS Software Market, by Organization Size
- POS Software Market, by End User
- Americas POS Software Market
- Asia-Pacific POS Software Market
- Europe, Middle East & Africa POS Software Market
- Competitive Landscape
- Competitive Portfolio
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Related Reports:
- POS Restaurant Management Systems Market – Global Forecast 2024-2030
- Point-of-Sale Terminals Market – Global Forecast 2024-2030
- Point of Sale Equipment Market – Global Forecast 2024-2030
About 360iResearch
Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset — our people.
Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
Contact 360iResearch
Mr. Ketan Rohom
360iResearch Private Limited,
Office No. 519, Nyati Empress,
Opposite Phoenix Market City,
Vimannagar, Pune, Maharashtra,
India – 411014.
Email: [email protected]
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To learn more, visit 360iresearch.com or follow us on LinkedIn, Twitter, and Facebook.
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Latest News
eWTP Arabia Capital’s Technology Fund I Recognized as Top Performing VC Fund in the Preqin League Tables
RIYADH, Saudi Arabia, May 19, 2024 /PRNewswire/ — eWTP Arabia Capital Technology Fund I (“Techology Fund I”), managed by eWTP Arabia Capital (“eWTPA”), one of the leading private equity firms in the Middle East, was listed in the Preqin League Tables as the the fifth top-performing VC funds in the US$250 Million to US$499 Million category by net Internal Rate of Return (IRR) for vintages between 2015-2020.
“We’re delighted by the recognition of our Technology Fund I as a top-performing VC fund in our sector,” expressed Jessica Wong, Founder and Managing Partner of eWTPA. “This milestone underscores the commitment of our team and the robustness of our investment strategy. It also underscores the significant growth potential of the Middle East and North Africa market, particularly in Saudi Arabia, warranting attention. As a pivotal driver of technological advancement in the region, we’re steadfast in our mission to empower entrepreneurs and deliver value to our investors.”
“Being recognized by Preqin validates our hard work and dedication to supporting and actively contributing towards building the Saudi digital ecosystem,” said Jerry Li, Founder and Managing Partner of eWTPA. “As eWTPA continues to grow and expand its investment portfolio, it remains committed to fostering innovation and driving positive change in Saudi, the GCC and the global emerging markets ecosystem.”
eWTPA has demonstrated exceptional performance, solidifying its position among industry leaders. This recognition underscores eWTPA’s commitment to identifying high-potential market opportunities and generating returns for its investors.
The Preqin League Tables are regarded as a comprehensive and authoritative ranking system for private equity and venture capital performance. Preqin, a leading data provider in the alternative assets industry, compiles these league tables based on various performance metrics, including net Internal Rate of Return (IRR) and other key indicators.
eWTPA’s success reflects its strategic approach to investing high-growth sectors in the MENA region. The firm’s portfolio includes a diverse range of companies poised to make a significant impact on their respective industries.
Acting as a bridge between Asia and the Middle East, eWTPA’s Technology Fund I has achieved significant success since its inception in 2019. The Fund has invested in over 18 companies, several of which have successfully established themselves in KSA, like J&T Express, Raha, Sahm and COFE.
About eWTPA:
Founded in 2019, eWTP Arabia Capital is an investment firm based in Saudi Arabia and China. Backed by marquee regional and international Sovereign Wealth Funds, Institutional investors, and family offices, eWTPA helps create robust local digital ecosystems in the MENA region by partnering with market-leading international businesses and providing a gateway for these companies to establish a strong and sustainable presence in the region. To date, eWTPA has invested in over 18 companies, 13 of which have already established themselves successfully in KSA.
Media contact:
Haile Liao
+966 0530868568
[email protected]
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Revio, a burgeoning fintech startup, has been making waves in the financial technology sector with its innovative solutions and rapid growth. This dynamic company, founded just a few years ago, has successfully garnered the attention and backing of industry giants like Old Mutual and MTN. Their journey from inception to becoming a key player in the fintech space highlights the potential of young startups to disrupt traditional industries and capture significant market share.
Innovative Solutions
Revio’s success can largely be attributed to its cutting-edge financial solutions that address pressing needs within the market. The startup offers a range of services designed to streamline financial processes, enhance security, and improve accessibility for both individuals and businesses. By leveraging advanced technologies such as artificial intelligence and blockchain, Revio has created products that not only solve existing problems but also anticipate future financial trends.
Strategic Partnerships
The partnerships with Old Mutual and MTN are pivotal milestones in Revio’s growth trajectory. Old Mutual, a renowned financial services group, brings a wealth of experience and a broad customer base, providing Revio with an invaluable platform for scaling its operations. On the other hand, MTN, a leading telecom company, offers extensive reach across various markets, particularly in Africa, where fintech solutions are in high demand.
These alliances are more than just financial endorsements; they signify a strong vote of confidence in Revio’s vision and capabilities. By collaborating with established entities, Revio can tap into new customer segments, enhance its technological infrastructure, and accelerate its market penetration.
Market Impact
Revio’s impact on the market is already evident. The company’s solutions are being adopted by a growing number of users, ranging from individual consumers to large corporations. This widespread acceptance is a testament to the practical value and reliability of Revio’s offerings. Moreover, the startup’s commitment to continuous innovation ensures that it stays ahead of the curve, adapting to the evolving needs of the financial sector.
Future Prospects
Looking ahead, Revio’s prospects appear promising. The financial support and strategic guidance from Old Mutual and MTN position the startup for sustained growth and expansion. As Revio continues to innovate and refine its products, it is likely to attract even more interest from investors and partners. The fintech landscape is highly competitive, but Revio’s unique approach and strong backing give it a distinct edge.
In conclusion, Revio’s journey from a fledgling startup to a fintech powerhouse exemplifies the potential for innovation and strategic partnerships to drive success. With the support of industry leaders like Old Mutual and MTN, Revio is well on its way to becoming a dominant force in the financial technology sector, transforming how financial services are delivered and experienced.
Source: theafricareport.com
The post Revio, the young fintech winning over Old Mutual and MTN appeared first on HIPTHER Alerts.
The Basel Committee on Banking Supervision has recently released a comprehensive report detailing the increasing risks associated with the digitalisation of finance. As financial institutions worldwide embrace digital transformation to enhance efficiency and customer experience, the report underscores the need for vigilant risk management and regulatory oversight to address the emerging challenges in this rapidly evolving landscape.
Key Findings
The report identifies several key areas where digitalisation is contributing to heightened risks:
- Cybersecurity Threats: The proliferation of digital banking platforms and online financial services has led to a surge in cybersecurity threats. Cyberattacks, data breaches, and fraud are becoming more sophisticated, posing significant risks to both financial institutions and their customers. The Basel Committee emphasizes the importance of robust cybersecurity measures and continuous monitoring to safeguard sensitive financial data.
- Operational Risks: As banks and financial institutions integrate advanced technologies such as artificial intelligence, blockchain, and cloud computing, they face new operational risks. System failures, software bugs, and technology outages can disrupt services and lead to substantial financial losses. The report recommends that institutions develop comprehensive operational risk management frameworks to mitigate these risks.
- Regulatory Challenges: The rapid pace of digital innovation often outstrips existing regulatory frameworks, creating gaps that can be exploited. The Basel Committee calls for updated regulations that keep pace with technological advancements, ensuring that financial institutions operate within a secure and compliant environment. Harmonized global standards are essential to address the cross-border nature of digital finance.
- Third-Party Dependencies: Financial institutions increasingly rely on third-party service providers for critical functions such as cloud storage, payment processing, and cybersecurity solutions. This dependency introduces additional risks, including vendor lock-in and the potential for service disruptions. The report advises institutions to conduct thorough due diligence and implement robust third-party risk management practices.
- Consumer Protection: Digital finance has made financial services more accessible, but it also exposes consumers to new risks, such as digital fraud and identity theft. The Basel Committee highlights the need for stronger consumer protection mechanisms, including transparent communication, effective dispute resolution processes, and education initiatives to raise awareness about digital risks.
Recommendations
To address these rising risks, the Basel Committee offers several recommendations:
- Enhanced Cybersecurity Protocols: Financial institutions should invest in advanced cybersecurity technologies and adopt best practices to protect against cyber threats. Regular audits and stress testing of cybersecurity systems are crucial to ensure resilience.
- Operational Resilience: Developing and maintaining robust operational resilience frameworks is essential. This includes regular testing of disaster recovery and business continuity plans to minimize the impact of potential disruptions.
- Regulatory Innovation: Regulators need to innovate and adapt to the changing digital landscape. This involves updating existing regulations, fostering collaboration between regulators and the fintech industry, and developing new guidelines that address the unique risks of digital finance.
- Third-Party Risk Management: Financial institutions must implement rigorous third-party risk management policies, including comprehensive vendor assessments, ongoing monitoring, and contingency planning for critical service providers.
- Consumer Education and Protection: Enhancing consumer protection through education programs and transparent communication about digital risks is vital. Financial institutions should also offer robust support systems for customers affected by digital fraud or other issues.
Conclusion
The Basel Committee’s report serves as a critical reminder of the complexities and risks associated with the digitalisation of finance. While digital transformation brings numerous benefits, including greater efficiency and accessibility, it also introduces significant challenges that must be addressed proactively. By implementing the report’s recommendations, financial institutions and regulators can work together to create a secure, resilient, and inclusive digital financial ecosystem.
The post Basel Committee highlights rising risks from finance digitalisation in new report appeared first on HIPTHER Alerts.
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