About Grocery POS Systems
A point-of-sale (POS) system serves as the technology retailers use to finalize sales transactions, encompassing both hardware (such as a cash register or computer) and software to manage the transaction process. Tailored for grocery stores, these systems offer specific functionalities like inventory management, barcode scanning, sales analytics, and integration with scales for product weighing. The grocery POS systems market is experiencing substantial growth driven by shifting consumer needs and technological advancements. Recent trends indicate a move towards more cohesive and user-friendly solutions that not only handle transactions but also provide extensive inventory management, sales analysis, and customer relationship functionalities. As online grocery shopping gains traction, POS systems are increasingly incorporating e-commerce features to enable seamless Omni channel experiences, allowing shoppers to transition effortlessly between online and in-store purchases. Opportunities in this sector revolve around the advancement of AI-powered systems designed to optimize inventory, tailor customer experiences, and streamline operational processes.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Grocery POS Systems market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Samsung Electronic Co.Ltd (South Korea), Ingenico SA (France ), VeriFone System Inc. (United States), HP Development Company LP, Panasonic Cooperation (Japan), Bindo Labs Inc.(New York), NEC Corporation (Japan), NCR Corporation (United States), Pax Technology (china), Infor Inc.(United States), Aptos Inc. (United States) and PCMS Group Ltd (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are BBPOS Ltd (Hong Kong), Castles Technology Co.Ltd (Taiwan), Bematech SA (United States), Diebold Nixdorf (United States), Ingenico Group (France), Micros System Inc.(United States) and NCR Coporation (United States).
Segmentation Overview
AMA Research has segmented the market of Global Grocery POS Systems market by and Region.
On the basis of geography, the market of Grocery POS Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Users, the sub-segment i.e. Retail will boost the Grocery POS Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component Type, the sub-segment i.e. Hardware will boost the Grocery POS Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry type, the sub-segment i.e. Entertainment will boost the Grocery POS Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology Type, the sub-segment i.e. Biometric will boost the Grocery POS Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Enhanced data analytics for better decision-making and customer engagement. and Mobile wallet technologies and contactless payment options integration.
Market Growth Drivers:
Growing preference for cashless transactions and contactless payments. and Increasing demand for streamlined and efficient checkout experiences
Challenges:
Ensuring robust security measures is paramount.
Restraints:
Security concerns related to payment processing and customer data protection. and Resistance to change from traditional systems to newer, technologically advanced ones.
Opportunities:
Growing market demand for more user-friendly and comprehensive POS solutions. and Emerging markets and untapped regions offering avenues for market growth.
Market Leaders and their expansionary development strategies
In August 2018, VeriFone System Inc., a global leader in payment and commerce solutions, announced it had been acquired by an investor group led by Francisco Partners, a leading technology-focused private equity firm, including British Columbia Investment Management Corporations.
In May 2022, VeriFone and Lavu announced partnership to provide unified payment and point-of-sale solutions to restaurants Lavu, a major global restaurant software and payments solution provider, has announced a new cross-distribution partnership that will integrate Lavu into one restaurant software suite with VeriFone FLEX Payment Solution, its advanced payment method platform.
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.