Point-Of-Sale (POS) Security Market to Rear Excessive Growth During 2030 By Emergen Research
The global Point-Of-Sale (POS) security market size reached USD 3.70 Billion in 2021 and is expected to register a revenue CAGR of 8.6% during the forecast period, according to the latest analysis by Emergen Research. Rising deployment of cloud base POS systems is driving revenue growth of the market. All of the customer data in a cloud-based POS system is kept online. The cloud POS system service provider is now in charge of maintaining the security of customer and business data. Cloud POS is more secure as the POS will manage all data storage and security in a remote, secure location. In contrast to traditional POS systems, which are problematic in terms of data security, especially when a company is obliged to maintain its own data server on-site, a safe cloud-based POS system would relieve the burden of data management from daily responsibilities.
However, issues with conventional POS protection approach could restrain revenue growth of the market. It is important to understand that there is a security risk associated with any POS system. Many attackers just use weak systems to hunt for targets before initiating automated assaults on their POS setups.
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What Questions Should You Ask before Buying a Market Research Report?
- How is the Point-Of-Sale (POS) security market evolving?
- What is driving and restraining the Point-Of-Sale (POS) security market?
- How will each Point-Of-Sale (POS) security submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2030?
- How will the market shares for each Point-Of-Sale (POS) security submarket develop from 2022 to 2030?
- What will be the main driver for the overall market from 2022 to 2030?
- Will leading Point-Of-Sale (POS) security markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
- How will the market shares of the national markets change by 2030 and which geographical region will lead the market in 2030?
- Who are the leading players and what are their prospects over the forecast period?
- What are the Point-Of-Sale (POS) security projects for these leading companies?
- How will the industry evolve during the period between 2022 and 2030? What are the implications of Point-Of-Sale (POS) security projects taking place now and over the next 10 years?
- Is there a greater need for product commercialisation to further scale the Point-Of-Sale (POS) security market?
- Where is the Point-Of-Sale (POS) security market heading and how can you ensure you are at the forefront of the market?
- What are the best investment options for new product and service lines?
- What are the key prospects for moving companies into a new growth path and C-suite?
Customers can make purchases and complete transactions in safe surroundings thanks to point-of-sale security (POS security). To prevent unauthorised users from accessing electronic payment systems and lower the chance of credit card information theft or fraud, POS security measures are essential. Cybercriminals have a lot of possibilities thanks to POS hacks. Numerous client details, including credit card numbers and personally identifiable information (PII), are contained in POS apps and may be exploited to steal money or engage in more extensive identity fraud. Additionally, criminal actors may be able to steal millions of credit or debit card numbers by stealing a single application, which they may then use fraudulently or sell to other hackers or unrelated parties. Hackers can also acquire huge amounts of customer data from compromised POS software used by merchants as well as other programmes and systems the retailer uses. As a result, businesses need point-of-sale system security to safeguard their applications, thwart intrusions from outside parties, guard against mobile malware, and stop hackers from infiltrating their back-end systems.
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The demand for PoS security is growing along with the use of more electronic payment methods. The industry is expanding as a result of rising consumer demand for the use of digital payment methods and the rising popularity of mobile and online payments among young people in developing countries. The industry is expanding as a result of legislation being followed and an increase in fraudulent activities in e-commerce. PoS security deployment concerns and employee ignorance of the use of PoS systems have, nevertheless, come to light as significant industry issues. On the other hand, expanding use of payment applications across many industry sectors will create significant new growth opportunities for the PoS security market.
The analysis of the PoS security market’s growth possibilities, challenges, and trends is the main emphasis of the report. The study offers a Porter’s Five Forces analysis to comprehend the effects of numerous elements on the growth of the PoS security market, including bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers.
Key Companies Profiled in the Report are:
Oracle Corporation, Fortinet, Inc., VeriFone, Inc., PayPal Payments Private Limited, Check Point Software Technologies Ltd., CardConnect, Morphisec Ltd., Kaspersky Lab., Sophos Ltd., and Upserve, Inc.
Emergen Research has segmented the global POS security market on the basis of offering, vertical, organization size:
- Offering Type Outlook (Revenue, USD Billion; 2019–2030)
- Development and Integration
- Training and Education
- Support and Maintenance
- Vertical Outlook (Revenue, USD Billion; 2019–2030)
- Other Verticals
- Organization Size Outlook (Revenue, USD Billion; 2019–2030)
- Large Enterprises
Regional Landscape section of the Point-Of-Sale (POS) security report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Browse the complete Global Point-Of-Sale (POS) security Market Research Report – Industry Analysis, Size, Share, Growth, Trends @ https://www.emergenresearch.com/industry-report/point-of-sale-security-market
Some Key Highlights from the Report
- The service segment accounted for largest revenue share in 2021. Customers are helped by services provided by vendors in the POS security market in utilizing and managing POS security solutions effectively. The solution comes with a number of services, including implementation and integration, education and training, and support and maintenance. Security is a feature that some providers include with POS terminals. One of the fundamental and important stages toward safeguarding sensitive information is integrating a comprehensive and reliable POS security architecture. The standards and compliances established by governmental entities and other organizations are taken into consideration while designing the security architecture. System integration entails minimally deviating from requirements while integrating the POS system into the customer’s security system strategy which is driving revenue growth of the segment.
- The large enterprise segment accounted for largest revenue share in 2021 owing to its various advantages provided by POS systems including better inventory management, better customer management, better purchasing and supplier order management, and others. Using a POS makes it simple to manage the inventory. It enables large businesses to keep track of the number of items they hold throughout a specific time period and manage their inventory in real time. These businesses have the necessary resources, including money and labor, to deploy POS security solutions and services in their systems. Large businesses are prime targets for cybersecurity assaults due to their abundance of data. One of the most frequent cybersecurity dangers is the theft of credit and debit card information, which is increasingly done through attacking POS systems. Large organizations systems are frequently subject to these attacks because of inadequate security measures in their corporate Information Technology (IT) architecture which is creating high adoption of POS security, thus driving revenue growth of the segment.
- The retail segment accounted for largest revenue share in 2021. Cyberattacks have severely impacted the retail sector as hackers target massive quantities of credit card information and personally identifiable consumer data. Thus, there is a rising demand for POS security in the retail industry to safeguard their data. Furthermore, it provides various other benefits such as better customer management which is expected to boost market growth. Information about the customers can be stored in the system by using a POS system. Customers information may be used by retail business owners to send promotions to them in an effort to increase their frequency of visits or foster customer loyalty. The technology can assist in tracking each consumer so that specific promotions can be made. By effectively managing customer information, shop owners can fully comprehend their target customers and take smarter business decisions.
- The market in Asia Pacific accounted for largest revenue share in 2021. Presence of key companies in developing countries in this region such as U.S. is driving revenue growth of the market. Rising technological advancement and adoption of POS in industries are expected to boost market growth in this region. On 11 October 2022 for instance, the introduction of the PayPal Zettle Terminal to small businesses in the U.S. was announced by PayPal Holdings, Inc. Small businesses can boost their in-store mobility with Terminal, an all-in-one point-of-sale system. Terminal doesn’t require a second device to pair with owing to its slick design; it is ready to use right out of the box. This touchscreen-enabled digital in-store solution is simple to set up and operate, giving small businesses convenience, speed, and mobility.
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