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Point-Of-Sale Security Market Trends – Significant investments in research & development activities

VANCOUVER, BRITISH COLUMBIA, CANADA, June 29, 2023/EINPresswire.com/ -- 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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The increasing incidence of cyber risks and sophisticated hacking tactics is one of the primary drivers of the POS security market. As more businesses adopt digital payment methods, they become great targets for fraudsters looking to exploit flaws in their POS systems. Organisations have invested in sophisticated security systems to secure customer data and prevent financial losses.

Furthermore, government laws and industry standards play an important role in the expansion of the POS security market. Regulatory organisations around the world have enacted rigorous data privacy rules, such as the European Union's General Data privacy Regulation (GDPR). Compliance with these rules involves the installation of secure point-of-sale systems, which promotes the demand for advanced security solutions.

Report Scope:

Forecast Period: 2022-2030

CAGR: 8.6%

Base Year: 2021

Number of Pages: 250

The research report offers in-depth insights into company profiles along with their production values, production capacity, product portfolio, strategic plans such as mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, government and corporate deals, among others. The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry.

Leading Players Profiled in the Report:

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

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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. 

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. 

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. 

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.
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Segments Covered in Report

Offering Outlook (Revenue, USD Billion; 2019–2030)
Solution
Services
Development and Integration
Training and Education
Support and Maintenance
Vertical Outlook (Revenue, USD Billion; 2019–2030)
Retail
Hospitality
Restaurant
Other Verticals
Organization Size Outlook (Revenue, USD Billion; 2019–2030)
SMEs
Large Enterprises
In conclusion, the report is designed to provide an in-depth analysis of all the key change calculation factors that replicate the decisions that trigger the change, which pushes the player’s winning position profitable on the growth curve despite massive competition in the target Point-Of-Sale Security market.

Key Reasons to Buy This Report:

The report presents a thorough examination of the Point-Of-Sale Security market, elaborating on its core segments. The report conducts historical and future assessments of the market dynamics and offers precise data in a well-organized order.
The report evaluates the most prominent market growth potentials, dynamic market trends, driving factors, restraints, investment opportunities, and threats.
The report is inclusive of an in-depth study of the industry variables, manufacturers’ value chain, sales volume, market share, competitive landscape, and effective business tactics.
The report further identifies the key regions and segments dominating the market. These regions are foreseen to register fast-paced growth over the forecast duration.
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