The POS software market in Europe is expected to grow from US$ 2,761.9 million in 2018 to US$ 8,952.5 million by 2027, at a CAGR of 14.2% during the forecast period.
In the last few years, POS software has gained traction across the world in retail and hospitality sectors owing to which the scope of POS software is forecasted to witness massive deployment. Therefore, to ensure hassle-free delivery of service to customers, the adoption of POS is rising majorly within retail and hospitality sectors. Moreover, better internet infrastructure of developing countries such as India helps POS providers take advantage. This factor is likely to drive the POS software market growth. Countries such as the UK and France are heavily adopting the cashless mode of payments owing to rising digitization and better internet infrastructure. On the other hand, Russia and others countries are embarking toward the path of electronic payments that would allow POS providers to address diversified needs in varied verticals, which, in turn, is likely to drive the growth of the POS software market.
Based on deployment type, the European POS software market was led by the on-premises segment in 2018 with a decent share and is expected to continue its dominance during the forecast period. On-premises deployment is mainly adopted by large and well-established companies that are capable of investing huge capital on maintaining the software. The on-premises structure needs software licenses, in-house server hardware, integration capabilities, and IT technicians to support, operate, and manage the complex issues that may arise while accessing the software.
The overall European POS software market size has been derived using both primary and secondary sources. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the European POS software market. It also provides an overview and forecast for the POS software based on all the segmentations provided with respect to Europe. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in POS software.
Clover Network, Inc, Dell Inc, Honeywell International Inc, Samsung Electronics, and Panasonic Corporation are among the players present in the European POS software market.