DUBLIN, Dec. 22, 2023 /PRNewswire/ — The “Australia POS Market, By Region, Competition, Forecast and Opportunities, 2018-2028F” report has been added to ResearchAndMarkets.com’s offering.
The Australia POS market has witnessed a tremendous growth trajectory, with enterprise valuations reaching USD 515.71 million.
Experts anticipate a continued upsurge, projecting a brisk CAGR of 12.48% during the forecast period through to 2028.
Technological strides and a shift in consumer conduct are largely to thank for the robust health of this industry sector. Additionally, niche areas such as contactless payment solutions have experienced surges in demand, largely accredited to the COVID-19 pandemic which fostered the need for safer transaction methods.
Broadly speaking, the Australian POS market is indicative of a significant shift towards cloud-based system adoption, which brings with it a plethora of benefits for different sized businesses. From scalability and flexibility to more efficient and real-time data analytics, cloud-based POS platforms facilitate enhanced inventory management and effortlessly sync with e-commerce operations. This turns into actionable insights for businesses to streamline and amplify efficiency.
Key Drivers and Innovations
- Digital Transformation and Cloud-Based Solutions: The evolution towards cloud-based POS continues to stand as a market driver, pushing businesses towards digital modernization to garner real-time analytics and optimize functionalities.
- Contactless Payments and NFC Technology: A move towards NFC-enabled terminals highlights a response to consumer preference for hygienic payment methods, thus driving demand for such technology in the POS sphere.
- Integration with E-Commerce and Omni-Channel: As e-commerce flourishes, the need for integrated POS solutions that manage sales channels and inventory in unison grows increasingly crucial.
- Data Security and Regulatory Compliance: Elevated data security and adherence to compliance frameworks like PCI DSS is a priority, underlining the role of POS systems that ensure secure transactions.
Key Market Challenges
While the POS market experiences growth, it also faces challenges such as intensifying competition and implications of market saturation, particularly in segments like retail and hospitality. Additionally, navigating complex regulations for data security and ensuring the safekeeping of customer information remain constant struggles for POS providers.
Market Segment Deep-Dive
Highlighting Terminal Type and End User Dynamics
- The fixed POS segment sustains a dominant market share due to its reliability and widespread use across numerous industry verticals.
- The retail segment tops end-user categories, leveraging POS technology to elevate transaction processes and enhance the customer experience amidst a digital transformation in retail.
Regional Dominance and Trends
In terms of regional dominance, the Australian Capital Territory & New South Wales region claims a significant market presence. Their embracement of innovative technology and position as economic hubs fosters the utilization of advanced POS systems, making them influential market leaders in this domain. This exhaustive insight into Australia’s POS market covers comprehensive sectorial analysis, reflecting on terminal types, end user preferences, and regional growth patterns. It delivers an extensive overview of the industry as it stands today and paints a forecast picture of the POS market landscape with a thorough competitive analysis.
Key Players and Competitive Landscape
The report culminates with a detailed assessment of the key players influencing the Australian POS market, underpinning the competitive landscape and highlighting strategic market advancements. With an extensive examination of major companies, the report encapsulates pivotal information that steers the market’s direction.
This market resource lays out a clear path for understanding the current dynamics and future potential of the POS market in Australia, shedding light on the technologies and consumer behaviors that will dictate the pace and direction of market growth in the years to come.
In this report, the Australia POS market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Australia POS Market, By Terminal Type:
Australia POS Market, By Deployment Mode:
Australia POS Market, By Operating System:
Australia POS Market, By End User:
- Travel & Hospitality
- Healthcare & Pharmaceuticals
- Media & Entertainment
- Clover Australia
- Micros Systems
- NCR Australia
- Epos Now Australia
- ShopKeep Australia
- Square Australia
- Toast POS Australia
- Vend POS Australia
- Kounta POS
For more information about this report visit https://www.researchandmarkets.com/r/3wxscu
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Originally published at https://www.prnewswire.com/news-releases/australia-pos-market-competition-forecast-and-opportunities-2018-2028—market-sees-prominent-growth-cloud-based-innovations-propel-industry-forward-302021731.html
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